An inflationary economy, continued rate hikes, and increasing unit prices of sugar confectionery are expected to place downwards pressure on volume sales in the category, as consumers limit their discretionary spending. Confectionery is a category in which consumer demand is highly price-elastic, and with consumers restricting their discretionary spending, they are expected to limit their consumption of sweets and lollies.
The growth of sugar confectionery has traditionally been driven by product development focusing on new flavours, as taste remains a key driver of consumption. However, with the rise of plant-based options across the packaged food industry, as more consumers are seeking to limit their intake of animal-based products, opportunities for growth many be seen in this segment.
Sugar confectionery is a competitive category, with a highly fragmented competitive landscape, and close competition between the leading companies, Nestlé and Mondelez. Nestlé is expected to maintain its lead in value terms in 2023, holding a strong foothold with its iconic brand Allen’s, which leads its portfolio, although it also has the smaller Wonka brand.
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This is the aggregation of mints, boiled sweets, pastilles, gummies, jellies and chews, toffees, caramels, and nougat, medicated confectionery, lollipops, liquorice and other sugar confectionery.See All of Our Definitions
This report originates from Passport, our Sugar Confectionery research and analysis database.
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