The key trends in the global confectionery market

The global confectionery industry is constantly evolving to meet the requirements of today’s consumers. With global health concerns as a result of Covid-19, there has been a considerable increase in the consumption of confectionery. More and more consumers are moving away from the traditional three meals a day to small portions. Baking indulgence continues to be a growing trend with all its health benefits.

The changing trend in the confectionery market

The global candy market is projected to grow at a CAGR of 3.45% in the next few years to 2024. The busy lifestyle of people has replaced meals with snacks. The changing eating patterns of consumers are an indication of convenience foods reflecting the growth seen in the confectionery industry. Chocolate remains the most popular subcategory item, with the Middle East and Asia Pacific strong markets for exotic confections. Low-calorie, high-cocoa, ingredient-based confectionery remains the natural choice of consumers for health reasons. Sugar confectionery is the other popular segment.

industrial trends

Preference for dark chocolate

In a recent Euromonitor forecast, sales of dark chocolate are projected to exceed those of regular chocolate. This change will be the result of consumers’ growing inclination towards a healthy lifestyle with indulgence, and dark chocolate with its nutritional benefits fits the bill perfectly. Manufacturers are also taking notice of the change and coming out with chocolates that have sweetened fruits and nuts instead of sugar.

plant based snacks

There is a growing popularity of snack bars with plant-based ingredients in recent years among consumers who are in favor of natural and healthy products.

Focus on sustainability

Sustainability is now the focus of the confectionery industry, as well as consumers who are willing to pay more for the investment made in the cause with an ecological approach.

Opt for snacks with nutritional value

Consumers are considering the ingredients, calorie levels and flavors of snacks before making a purchase. They’re ready to offset healthy meals with nutrient-dense snacks, though some cultural influence on flavors is region-specific.

Growing demand for sugar-free confectionery

There is a growing demand for sugar-free confectionery among health-conscious consumers, such as the popular sugar-free boiled sweets. These items contain numerous health benefits, including increased energy and a sense of well-being.

Meet dietary guidelines

Dietary guidelines are significantly influencing the food industry. The growing popularity of ketogenic diets and the adoption of a low-carb lifestyle have led to dairy products becoming the preferred snack option. There is a growing demand for single-serving options of cottage cheese, sour cream, and cheese cubes as part of a healthy snack.

a sweet future

The global snack food market is estimated to grow to $217.2 billion (source: PR Newswire). With the growing number of health-conscious consumers around the world, there will be a marked shift towards healthy snacking. To keep up with this changing need, the confectionery industry is gradually developing.

Even with the health crisis and the worldwide recession due to Covid-19, the snacks and confectionery industry is experiencing constant economic growth. Consumers are willing to pay more for healthy snacks without giving up flavor. Consumers are looking for convenience food, and having healthy snacks while on the go remains a great option as a source of energy. To survive in the food industry, it is essential that companies understand the changing needs of consumers and act accordingly.

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