Market for confectionery behaves quite stable
Despite the current economic and financial crisis the confectionery industry is doing relatively well. While the effects are enormous in many industry sectors, the market for confectionery has, on the whole, shown quite stable behavior. It seems that people turn to eating more sweet things during difficult times.
If you look at the worldwide market trend between 2008 and 2013, you will notice that all six product segments from sugar confectionery through to medicated confectionery indicate stable growth. While market growth in almost all segments has been falling slightly from 2008 to 2009, the prognosis is that it will remain relatively constant in all segments until 2013. The gum and jelly products segment will even experience increasing worldwide market growth in the next four years.
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When you look at the statistics that forecast the 2010 market sizes, in tonnes, of individual regions, the interrelationships of the individual regional markets become clear. Western Europe, Eastern Europe and North America have the largest market share in the chocolate segment. In the sugar confectionery segment the Asian Pacific region is leading. Western Europe, Latin America and Eastern Europe have a similarly large market share. North America leads the market for bars with a volume of 1,190 tonnes, followed by Western Europe with 760 tonnes. With a share of approximately 200 tonnes each, North America, Asian Pacific and Latin America lead the chewing gum market. The regions of India and Australasia are still quite small in comparison with the other markets.
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Sugar Confectionery
Analyzing, the market for sugar confectionery, it is noticeable that the Indian market has a continuous growth of eight percent. Even if the Indian market is still relatively small at present, it has a strong rate of growth. In North America, Western Europe and Eastern Europe, consumption in the candy segment is either stagnant or falling slightly.
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Gum and jelly products
In the market for gum and jelly products, it is the Chinese market that is growing strongest at a rate of 12 to 15 percent. This is followed by the Asian Pacific region, with an average growth rate of eight to ten percent. At the beginning of the period, the North American market has a negative market growth rate but, by 2013, it will also manage to experience positive growth.
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Chocolate
In the chocolate segment, India is also the top seller with a growth rate of 15 to 20 percent. Otherwise good growth is predicted in almost all regions.
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Bars
In the bars segment, for the third time, it is India that is noticeable for its strong market growth. In this segment, it is the Chinese market in which growth is forecast to drop in the next few years, from about 17 percent to a little under ten percent.
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Chewing gum
In the chewing gum segment too, it is India that leads with a relatively constant market growth of ten percent, while the markets in China and North America are stagnating at a high level.
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Medicated confectionery
In the medicated confectionery segment the market growth of the Chinese market will fall from 15 percent to less than six percent by 2013. With the exception of North America, where the market growth is slightly negative, the other markets will fluctuate at values of between one and a little above five percent.
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Finally, it has to be noted that, in light of the current economic situation, the trends have to be regarded as being thoroughly positive. Market growth will remain largely in the positive range and in some cases will even grow.
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