The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn more59 pages, Sep 2013
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As one of the most widely consumed processed food items in the world, the confectionery market often acts as a wider indicator for the packaged food sector. In this global briefing, Euromonitor International looks at the economic challenges facing the world of confectionery and the opportunities that exist in both developed and emerging markets. The report finishes with a unique look into the differing cost structures of confectionery manufacturers in different parts of the world.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Economic growth will be weakest in Western Europe in 2013, but will keep being strong in Asia Pacific and Latin America, opening the path for more premium chocolate and sugar confectionery offerings.
Sugar confectionery is the category affected the least by weak economic growth. This is because of its low unit price, which makes it particularly appealing during periods of economic duress.
Demand for chocolate was particularly strong in Brazil and Colombia in 2013, with retail volume sales growing by 9% and 6%, respectively.
Strong economic growth and rising health awareness dampened growth of sugar confectionery in Latin America, with sales rising by a mere 0.3% in retail volume in 2013.
Demand for countlines in developed markets benefited from increased demand for low-price convenient chocolate snacks. France and the US were prime examples of this trend.
International companies planning to enter the Russian market should factor in the strong reliance of companies on raw materials and the high labour costs.
China's steady increase in added value creation reflects the progressive premiumisation in chocolate and sugar confectionery.
The high consolidation of US chocolate production is resulting in low intra-industry sales and low outsourcing expenditure.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.