A new market research report called 'Confectionery Products - Global Markets Package' created by Global Research & Data Services, incorporates 73 confectionery market analyses from various countries of the world.
Among its findings, it says that, in 2011, the value of the global confectionery industry almost reached $185.5bn, representing growth by over 5% year on year.
In the same year, Asia-Pacific led the market in terms of sales volumes (above 3,000 tonnes of confectionery products).
Chocolate accounted for more than 55% of the total confectionery sales. The US, the UK, Brazil, Germany and Russia made up the top five country markets in terms of value.
The world confectionery market is expected to override a $208bn mark by 2017. The market is expected to be driven by the introduction of new flavours 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 confectionery. Asia-Pacific is predicted to register the fastest growth through 2017.
- Coca-Cola buys China Culiangwang Beverages for $400.5m
- Dr Pepper Snapple acquires minority stake in Bai Brands for $15m
- Soft drinks brand Zeo launches new flavours and packaging design