The global sugar confectionery market is estimated to grow at a CAGR of 3.5% during the forecast period. Rising new launches of confectionery products are supporting to accelerate market growth. To increase competitiveness in the market, the players are actively focusing on new innovative launches to widen their consumer base. For instance, in January 2020, Nestlé launched the new KitKat Gold, which offers a tasty blend of smooth milk and crispy wafer chocolate and is covered with creamy white chocolate with sweet caramel notes. The new KitKat Gold will launch in key retailers across Europe and selected other countries in 2020. KitKat Gold is available for sale in Russia, UK, and Ireland.
Further, in March 2020, Kind, Snack manufacturer declared the launch of its breakfast category with the launch of a spectrum of breakfast bars. These bars are designed for consumers who are looking for on-the-go and a healthy breakfast option. This new range will be available in three options, which include Honey Oat, Peanut Butter, and Blueberry Almond. Each bar consists of a base of five whole grains which include amaranth, buckwheat, oats, millet, and quinoa, and is soft-baked. The Honey Oat bar is the company’s first product to not contain nuts. Each bar variants are high in fiber and gluten-free, and each 50 g pack contains two bars.
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Global Sugar Confectionery Market-Segmentation
By Product
- Chocolate
o White and Milk
o Dark
- Sugar Based Food
o Boiled Sweets
o Caramels and Toffees
o Mints
o Gums and Jellies
o Others
- Snack Bars
o Energy Bars
o Cereal Bars
o Others
By Distribution Channel
- Online
- Offline
o Supermarket/Hypermarket
o Convenience Stores
o Others
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