Global Confectionary Industry Valued Near $185.5B
In 2011, the global confectionary industry reached almost $185.5 billion in value, representing growth of more than 5 percent year over year, according to a new report published by Global Research & Data Services.
In the same year, the Asia-Pacific region led the market in terms of sales volume (over 3,000 tons of confectionary products). Chocolate accounted for more than 55 percent of the total confectionary sales. The United States, the United Kingdom, Brazil, Germany and Russia made up the top five country markets in terms of value.
The world confectionary market is expected to top the $208 billion mark by 2017, according to the report. This growth will be driven by the introduction of new flavors and ingredients, brand extensions, enhanced product advertising, packaging innovation and new product developments/launches.
China, Indonesia, Mexico and some Eastern European countries represent the most promising markets for confectionary. Asia-Pacific is predicted to register the fastest growth through 2017.
The market research report, “Confectionery Products - Global Markets Package,” incorporates 73 confectionary market analyses from various countries of the world.