The Asia-Pacific confectionery market is anticipated to grow at a CAGR 5.0% during the forecast period. The growth of the market is attributed to the changing consumer preferences coupled with the increasing disposable income. Additionally, the diversity in the availability of confectionary products as per the local taste and flavours also catalyzes the growth of the Asia-Pacific confectionery industry.
Additionally, health consciousness such as increasing obesity across the region is driving the consumer towards healthy confectionery products. Hence, the manufacturers are increasing their innovation in healthy confectionary offerings. For instance, in January 2018, Meiji Holding Co., Ltd. with an investment of approximately $245 million announced the expansion of production of health-focused chocolate in Japan to cater to the growing consumer demand of cocoa health benefits.
Asia-Pacific confectionery market is segmented based on type and distribution channels. Based on the type, the market is sub-segmented into sugar confectionery, chocolate confectionery, and bakers confectionery. Based on the distribution channel, the market is sub-segmented into supermarkets/ hypermarkets, convenience stores, and online channels. Convenience stores are expected to maintain a significant market share in the region.
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Asia-Pacific Confectionary Market Segmentation
By Type
- Sugar Confectionary
- Chocolate Confectionary
- Bakers Confectionary
By Distribution Channel
- Supermarkets/ Hypermarkets
- Convenience Stores
- Online Channel
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Regional Analysis
- Asia-Pacific
- China
- India
- Japan
- ASEAN
Rest of Asia-Pacific
Company Profiles
- Amul (Gujarat Co-operative Milk Marketing Federation Ltd.)
- Chocoladefabriken Lindt & Sprungli AG
- Ezaki Glico Co., Ltd.
- Ferrero SpA
- Guangdong Strong Group Co., Ltd.
- Lotte Confectionary Co. Ltd.
- Lotus Chocolate Co. Ltd.
- Mars, Inc.
- Meiji Holding Co., Ltd.
- Monginis Foods Private Ltd.
- Nestlé S.A.
- Parle Products Pvt. Ltd.
- Perfetti Van Melle Group B.V.
- The Hershey Co.
- Yamazaki Baking Co., Ltd.
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