After a year of slight retail volume decline but current value growth in 2020, sugar confectionery is expected to see a static volume performance in 2021, along with negligible current value growth. Medicated confectionery saw a strong decline in 2020, because consumers were going to great lengths to stay healthy through preventative means during the COVID-19 pandemic, by social distancing and using vitamins and dietary supplements, which meant they had no need for such products.
Locally sourced products became more popular at the end of the review period, as Slovaks were increasingly eager to help out local businesses and entrepreneurs during the pandemic. Large players yielded the best results, especially those with well-established brands, such as IDC Holding, which is also expanding its production capacity.
Nestlé Slovensko is expected to continue to lead sugar confectionery in value terms in 2021, with leading brands such as Bon Pari and Jojo. However, it is set to continue to lose share to other players, including Haribo and private label.
Retail volume and current value growth are expected to resume for sugar confectionery from 2022 for the rest of the forecast period. As in 2020 and 2021, medicated confectionery is set to see the strongest growth from a low base, whilst lollipops will continue to decline due to their perception as unhealthy.
Investing in product advertising in the virtual space is likely to be a key area of focus for investment by companies over the forecast period. This will be seen as new retailers open e-shops and more consumers find shopping from home more appealing.
After already seeing share growth in 2020, with this set to continue in 2021, private label is expected to record a further share boost over the forecast period. Such products will benefit from offering better value for money and from thriftier attitudes amongst consumers.
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Understand the latest market trends and future growth opportunities for the Sugar Confectionery industry in Slovakia 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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