Sugar confectionery is seeing stronger growth in 2021, following a drop in sales in 2020 due to myriad factors from COVID-19. However, the category is faring the pandemic well and has not dropped into negative figures.
New imported value-for-money proposals associated to strong international players, such as seen from Bimbo de Costa Rica, SA, which is present in snack bars, are also setting the pace in terms of sugar confectionery offerings from modern grocery retailers. For example, the player’s Ricolino Ricofestia offers an assorted bag of mixed confectionery, containing a selection of the most popular products.
Mondelez Costa Rica Ltda is maintaining its lead in sugar confectionery in 2021, thanks to the success of its leading Halls brand of medicated confectionery. As noted, medicated confectionery is the most popular style of product in Costa Rica and the player has been concentrating on its top brand since Dos Pinos took over the Gallito portfolio in 2017.
Recovery in sugar confectionery will be in line with a return to pre-pandemic lifestyles, especially concerning recommencement of children’s parties and associated events, such as Halloween celebrations. Until such a time happens, figures are expected to remain suppressed to a degree, with players continuing to tempt older consumers with retro nostalgic offerings in order to maintain sales.
New developments are expected within functional confectionery targeted towards adults, such as medicated and therapeutic offerings such as CBD gummies and similar proposals, which could engage a new generation of adults with such types of confectionery alternatives. Within this context, sugar-free claims shall also become more notable over the forecast period, with sweeteners such as stevia and xylitol gaining relevance.
Natural, traditional and artisanal confectionery developments are also anticipated to gain strength over the forecast period, where adult consumers’ indulgent expectations shall be addressed by smaller regional and local players capable of focusing on such added value niche consumers. E-commerce sales shall also allow new opportunities for showcasing such proposals to a larger base of potential buyers, allowing price positioning to be more competitive as manufacturers learn how to reach their niche buyers through direct routes.
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Understand the latest market trends and future growth opportunities for the Sugar Confectionery industry in Costa Rica with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Sugar Confectionery research and analysis database.
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