In 2021, sugar confectionery is expected to start to recover from the tumult caused by the pandemic, with a small increase in volume sales and an even higher increase in current value sales, though part of that growth will be driven by inflation. Pastilles, gum, jellies and chews are expected to register the highest current value growth in 2021.
The top brands in sugar confectionery will continue to be from international and global companies such as Perfetti Van Melle Group, Udarnitsa KF OAO, Konti Group, and Mars Inc. Local companies have lower levels of financial support to invest in advertising their products and to ensure space on retail shelves.
Pre pandemic, development of the economy was positively impacting sugar confectionery sales, boosting demand for more sophisticated products such as toffees, caramels and nougat, medicated confectionery and power mints. However, the financial crisis induced by the pandemic has halted growth.
Sugar confectionery is expected to register a moderate recovery over the forecast period. Although most key retail distributors remained open throughout lockdown, they had been seeing fewer customers per day.
Post lockdown, there is likely to be a growing inclination towards a sugar-free diet among local consumers, with brands focusing on new diet-positioned products flavoured with different fruits and berries. Over the forecast period, companies are expected to focus on new offerings, with additives and eye-catching packaging designs aimed at gaining the interest of consumers.
Medicated confectionery will continue to be the smallest product area over the forecast period, despite the increasing health awareness caused by the COVID-19 crisis. All the same, medicated confectionery will register constant value growth as it becomes more widely available through pharmaceutical distributors, such as chemists and drugstores.
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This report originates from Passport, our Sugar Confectionery research and analysis database.
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