ALL >> Food,-Cooking-and-Drink >> View Article
Global Liquor Confectionery Market - Growth, Trends, And Forecast (2021 - 2026)
- Majority of the growth is relatable to the factors of convenience along with consumer inclination towards handmade liqour confectionery, which as such will propel the demand further. Brands recognition will play a crucial role in the category growth, however, the market will shift more towards the premium category, followed by the gifitng culture evidient in the developed markets.
- Although covid-19 pandemic has slowed down the sales of consumer packaged products during its onsets, confecionery based products, inclusive of the liqour ones, have showcased significant growth following the preference for snacking during lockdown as well as craving for sweet products at times. Likewise, the world wide lockdown has led confectionery products to witnessed repeated sales, which going forward will benefit liquor confectionery manufacturers on the long run, if in case, such pandemic are supposed to occur again over the forecast period.
Key Market Trends
Existing Chocolate Trend Will Amplify The Demand For Liquor Confectionery
Chocolate consumption has been on an upswing in countries such as the United States, ...
... where in general, Americans consume around 2.8 billion pounds of chocolate each year, with over 11 pound per person. This upward rise in chocolate consumption, year on year, will act as a supportive background for products such as liquor confectionery. Although, in general, such products will be sold specifically to certain age group, most of the demand will be met by the expectation towards gaining experience.
Furthermore, the rapid rise in adaptation of alternative form of alcohol consumption has eventually led people to spend more on liquor confectionery, thereby boosting the market further . In addition, the market has witnessed a higher share in terms of new product developments, along with the availability of different flavors, which are further anticipated to cater different taste preferences of consumers.
Europe will be the largest market for Liquor Confectionery
Within the liquor confectionery category, Europe is more likely to emerge as a centre for premium category, mostly related to higher consumer acceptance and brand penetration. In countries such as Britain, the confectionery sales have been on the rise, with an increase in the demand for premium liquor chocolate targeted toward specific set of consumers. The number of private label chocolatiers in the United Kingdom is also growing, with more artisanal and specialized products being launched to meet the consumers' demand in the premium liquor chocolate market.
Consumers choose premium liquor chocolates in most of the countries in this region, especially from the supermarkets and hypermarkets, owing to the unique variety of attractive products being offered, ready packaging, in-store promotions, and consistent chocolate quality. Additionally, consumers appear to be looking for high-end products. Furthermore, the trend of organic liquor confectionery is creating lucrative opportunities for the liquor chocolate manufactures to tap the potential markets thus, opening the doors for the new entrants to enter the market with new, innovative, organic, and flavored confectioneries, thus enhancing their revenue mixes, by gaining advantages over the others.â€‹
In the market studied, there are a handful of major companies that are undertaking certain strategies which includes mergers and acquisitions that enalbes them to enhance their existing capability, while innovating more on product offerings. For instance, Brands such as Ferrero, in 2018, inked a deal for the U.S business of Nestle in manufacturing of liquor confectioneries for an amount of USD 2.8 million. In addition to this, major confectionery manufacturers such as Barry Callebaut has acquired American Almond Products Co., as of 2015, which will enable the former to expand its product line further, over the coming years.
Key Players in the global market include Toms Gruppen, Liqueur Fills, Hershey's, Ferrero, Mondelez, Abtey Chocolate Factory, Neuhaus, Mars, Brookside and Booz Drops among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support.
For sample report please visit : https://www.statzyreports.com/report/sr497720/global-liquor-confectionery-market
Public Relations Manager
Email : firstname.lastname@example.org
Email : email@example.com
(IN) - +918484035727
(US) - +1415-871-0483
Website : www.statzyreports.com
StatzyReports is the premier global market research and business reports company based in India. StatzyReports.com functions under Statzy Market Research. We offer our expertise globally in services related to market research, business strategy consulting, surveys or questionnaire, forecast and statistical data analysis. Our experience working with major business and customer driven companies enabled us to develop some of the best winning strategies for succeeding in various global markets. Our globally renowned experts mastered the art of perfection with their unique skillset and vast experience in research and data analytics.
Food, Cooking and Drink Articles1. Mobile Woodfired Pizza Catering Service – Know The Benefits
Author: Laurie Hekeik
2. Pistachios | Ideal For A Healthy Lifestyle
3. Different Oils And Cholesterol
4. Top Five Useful Tips To Find The Healthy And Affordable Tiffin Service In Surrey
Author: Homemade Tiffin Surrey
5. Why Hire A Corporate Caterer For Your Next Office Party?
Author: Peter Kats
6. Coffee-makers Around $100
Author: Jen Davis
7. Shelf-life Testing Market Opportunities, Growth Factors, Ongoing Trends And Key Players 2023
Author: MarketsandMarkets™ INC.
8. Food Stabilizers (blends & Systems) Market Competitive Analysis With Growth Forecast Till 2023
Author: MarketsandMarkets™ INC.
9. Atlantis Range Of Bottled Water Dispensers
10. Tips For Improving Your Health
Author: Waqas Khan
11. Biltong: A South African Delicacy
Author: Johann du Plooy
12. 5 Interesting Things To Know About Israeli Cuisine
Author: Eytan Uliel
13. Avoid These Mistakes When Making Pasta
Author: Con Koutroumbas
14. Why Is The Mediterranean Diet Necessary?
Author: Renita Mendonca
15. Plant Based Protein Powders And Their Benefits
Author: Jordan Levy