According to the latest report by IMARC Group, titled “India Confectionery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the India confectionery market is expected to grow at a CAGR of 6.70% during 2022-2027. Confectionery involves various food products rich in carbohydrates, sugar, or similar sweeteners. It includes items such as cakes, doughnuts, cookies, candies, jellies, chewing gums, hard sweets, and lollipops. They can be formulated using glucose syrups, aspartame, saccharin, and corn syrup that act as thickeners, stabilizers, foaming, and gelling agents. Some other ingredients include fruits, nuts, cocoa powder, milk, gelatin, essence, colors, and flavoring additives to improve the texture and appearance of the product. Besides this, confectionery items are usually low in micronutrients and high in calories.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Confectionery Market Trends:
The emerging trend of gifting confectionery products during festivals and special events, such as birthdays, anniversaries, and social meetings, is creating a positive outlook for the market. Additionally, the increasing demand for ready-to-eat (RTE) products due to the changing consumer preferences, tastes, and eating habits are favoring the market growth. Apart from this, the introduction of automation technologies in product packaging and processing to improve productivity, enhance time efficiency, and optimize production lines to meet retail and consumer demands is providing an impetus to the market growth. In line with this, the launch of sugar-free confectionery products on account of the increasing cases of obesity and diabetes in the country is propelling the market growth. Moreover, the rising demand for organic, functional, vegan, and gluten-free products due to increasing health consciousness and the prevalence of gluten intolerance and celiac disease is positively influencing the market growth. Furthermore, key players are developing premium nut-based product variants in innovative flavors and textures, which, in turn, is facilitating the market growth. Other factors, including recent advancements in ambient storage facilities, the introduction of anti-microbial packaging, increasing demand for premium chocolates, rising expenditure capacities of consumers, and the implementation of government initiatives promoting cocoa production in several Indian states, are anticipated to drive the market toward growth.
- On the basis of the product type, the market has been classified into hard-boiled sweets, mints, gums and jellies, chocolate, caramels and toffees, medicated confectionery, fine bakery wares, and others.
- Based on age group, the market has been divided into children, adult, and geriatric.
- On the basis of the price point, the market has been classified into economy, mid-range, and luxury.
- Based on distribution channel, the market has been divided into supermarkets and hypermarkets, convenience stores, pharmaceutical and drug stores, online stores, and others.
- On a regional basis, the market has been categorized into North, West and Central, South, and East India.
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
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