MARKET ENTRY CONFECTIONARY INDUSTRY IN SWEDEN As reported by Globe Newswire, the “global chocolate confectionary market is expected to grow from USD 135.8 billion in 2020 to reach USD 161.1 billion by 2026 at a 3% annual CAGR growth during forecast period of 2021 – 2026.” The growing availability of different varieties of confectionary products, both chocolate and non-chocolate, has led to the high demand for confectionary products fueled by the impulsive purchase behavior of consumers.
In general, children and young adults seeking a sugar rush like no other will continue to serve as the main consumer demographic for these products. We l l n e s s Tre n d s : m a n u fa c t u re r s o f c h o co l a te a n d n o n - c h o co l a te confectioneries alike are keeping an eye on growing consumer affinity for health and wellness lifestyle trends. To that end, producers are shifting toward recipes that employ more natural and organic ingredients, in addition to eliminating GMOs, artificial additives, and high fructose corn syrup. Furthermore, candy companies are expected to incorporate more nutritious add-ins like nuts, seeds, and fruits to appeal to older, more healthconscious demographics. Eco-Conscious Consumers/Sustainable Initiatives: in addition to higher quality ingredients, consumers are increasingly eco-conscious and looking for improved transparency and sustainability in the food production and supply chain, and confectioneries are no exception. Some major candy companies have taken note and adapted their sustainability strategies to address these concerns, including Mars, Hershey, and Mondelez.
Candy products have acquired a prominent place in households across the globe due to COVID-19 lockdown implementations and lockdown extensions. The preference for sweet indulgence has increased due to more consumers working from home. Furthermore, the change in traditional patterns of food consumption may also open a pathway for innovation across the candy market across the globe as countries are recovering from the impact New Flavours: Today’s consumer is more adventurous than ever, constantly seeking of the global pandemic. new culinary experiences. When it comes What are the most prominent trends in to candy, fruit flavours reign supreme right now. Fruit flavours offer a great way the Confectionary Industry? to experiment with new tastes because These are the key trends expected to drive there’s always a new fruit arriving on the the candy industry in the years to come, scene to try. Raspberry is an old favourite that’s on the rise alongside newer additions namely: to the fruit sector such as yuzu and dragon Candy Companies increasingly focus on fruit. Novelties: for non-chocolate confectionery producers in particular, novel experiences What’s Sweden Candy Consumption? will serve as a propellant for growth. Producers of these candies are expected Sweden has the highest candy consumption to emphasize fun, more flavourful products per capita in the world -about 35 pounds per person per year. to catch consumers’ eyes and dollars.
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