There is an increase in demand for non-cocoa confectionery due to rise in disposable incomes and changing consumption patterns. Hike in confectionery ingredients prices for ingredients in the recent years has encouraged consumers to opt for other non-cocoa confectionery products.
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Advancements in chocolate processing technologies like inclusion of 3d-chocolates, use of different colors, flavors and other confectionery ingredients is also supporting the non-cocoa confectionery market. Hence, non-cocoa confectionery is expected to grow at CAGR of more than 3.28% from 2016 to 2022.
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The key players profiled in Confectionery are Mondelez International Inc., Ferrero SpA, The Hershey Company, Nestle India Limited, Arcor Group, DS Group, Lindt & Sprüngli, Cloetta AB, Lotte Sugar Confectionery Co. Ltd, Morinaga & Co. Ltd., Ezaki Glico, MARS Inc., ITC Limited and Orion Confectionery Co. Ltd.
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Secondary data reveals that the Confectionery sales is projected to grow more than 3.28% annually post the year 2022
The top 5 exporters of confectionery includes Germany, Mexico, China, Belgium and Turkey
Perception and association of new ideas with new flavors and forms like fun bites, bits, rolls, crisps is supporting the non-cocoa confectionery market