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Summary and extracts
1 Market Overview
1.1 Definition and presentation
Sweets are mainly sugar products, mixed with flavorings and colorings. They are available on the market in various shapes and consistencies:
- Hard candies
- Filled candies
- Toffee candies
- Gummy candies
- Antique lozenges
- Soft and hard licorice
- Licorice
- Chewing gum
- Fruit jellies
In the global context, value is expected to grow by 3.82 percent from 2024 to 2029, when it will reach $83.46 billion. On the European front, the forecast is also positive, as a CAGR of 3.1 percent is expected from 2023 to 2028, which will take the sector to reach $87.98 billion in 2028.
The Italian confectionery market has excellent growth prospects, both in terms of quantity and value. At the regional level, there is a higher value of consumption recorded in the regions of the North, followed by those of the South and, finally, those of the Center. The factor that has the greatest impact on the growth of this market is the increase in sales for family consumption (food retail), which, thanks to its strongly positive trend, counterbalances the instability recorded by sales in the impulse buying segment (bars or other types of retailers).in this regard, it is important to emphasize the growing tendency on the part of operators active in this market to carry the typical dynamics of impulse buying into the family consumption retail segment through the mechanism of displaying products in the forecourt.
Despite this, Italians do not appear to be among the largest consumers of sweets at the European level. This is due, in particular, to the greater importance that the Italian population attaches to main meals (breakfast, lunch, dinner) than to occasional meals based on sweets and to the greater attention to a proper and healthy diet.
1.2 The global market
The global candy market size is estimated at $**.** billion in **** and is expected to reach $**.** billion by ****, with a CAGR of *.** percent during the forecast period.
Global candy market value World, ****-****, in billions of dollars (***) Mordor Intelligence
Regarding the European market, the market is expected to be worth $**.** billion in ...
1.3 The domestic market
The domestic confectionery market experienced a significant contraction in the data on production sold in both value and tons. In the case of production sold in value, a significant decline of **.** percent was observed compared to ****. This decline can be attributed to several factors, including changes in consumer preferences, an increase ...
1.4 The foreign market
Data on confectionery exports to the foreign market show a positive trend during the period from **** to ****. During this period, exports grew significantly, registering an increase of **.* percent, far outpacing the increase in imports, which was **.* percent. In addition, the coverage ratio (***) improved significantly through ****, increasing by **.* percent. However, it is ...
1.5 Impact of the conflict between Russia and Ukraine
The consumer price index growth of **.* points (***) indicates a significant impact of the Russian-Ukrainian conflict on the confectionery industry. This increase in consumer prices is attributed to various factors, such as the economic and political instability caused by the conflict, which has affected the supply chain and production costs. Another determinant ...
2 Demand analysis
2.1 Demand characteristics
In our country, * out of ** Italians(***) consume candy; the figure is evident when analyzing the value of the family's monthly expenditure item on sugar, jams, honey, chocolate and sweets, which, in addition to being very high in itself, has increased by*.*% compared to ****. In ****, spending increased by**.* percent compared to ****.
Item ...
2.2 Demand drivers
According to the data, there are moments when consuming a candy becomes more necessary and almost indispensable; the first situation that is mentioned is the moment when facing a long journey, whether by plane, train or car, **% of Italians place this situation first among the three moments most associated with candy ...
2.3 Geographical distribution of demand
To visualize the geographic distribution of confectionery consumption, an analysis of the monthly household expenditure item on sugar, confectionery and desserts is proposed. Specifically, it can be seen that spending is concentrated in the regions of Northern Italy; in the Northeast, spending is recorded around **.**€ monthly, while in the Northwest the ...
2.4 New demand trends
In recent years, buyers of candy and sweets have been experiencing increasingly evolving tastes and preferences. Thus, the sector lends itself to constant transformation and has some interesting trends to keep an eye on. First and foremost, there is a greater focus on healthier product standards, seeking to pay increasing attention ...
3 Market structure
3.1 Market structure and dynamics
To know the dynamics that dominate this market, the number of active enterprises in recent years (***) is presented. Specifically, there is a **.* percent decrease in active enterprises from **** to ****. The lowest value was recorded in ****, where it reached *** active enterprises. From **** to **** there was again a slight decrease of *.* percent.
Enterprises ...
3.2 Value Chain
Getting to the heart of the market, it is interesting to know the evolutionary process of the product, from the supply of raw materials to the sale to the customer.
Raw materials
Raw materials are the basis of product composition:
Monosaccharides: fructose, dextrose and galactose belong to this category. These organic ...
3.3 Distribution channels
Distribution channels are crucial for the sugar, chocolate, confectionery and bakery wholesale industry. Between **** and ****, this industry experienced an exponential growth of **.* percent. However, between **** and ****, there was a slight decrease of * percent in distribution activities.
Wholesale trade of sugar, chocolate, confectionery and bakery products Italy, ****-****, in thousands (***) Istat
Confectionery ...
3.4 Main actors
4 Supply analysis
4.1 Type of Offering
The sector is highly diverse, presenting multiple possibilities in the market:
Hard candies: consist of a sugar and glucose base, which is subsequently cooked to obtain a soft, firm mixture. During the cooling phase, the substances that characterize the candy are added. Afterwards, the dough is molded, completing the cooling and ...
4.2 Prices
Over the past decade, the confectionery industry has experienced a significant increase in producer prices. The producer price index, which measures changes in the costs of goods and services within a specific industry, is a crucial indicator for understanding the economic performance of an industry. In this case, the producer price ...
4.3 The vegan candies
Most traditional candies contain ingredients of animal origin, such as gelatin, milk and honey. For this reason, those who follow a vegan diet must be careful in product selection, choosing *** percent plant-based. Animal gelatin, also known as "isinglass," is made by boiling and processing animal parts, such as skin, bone and ...
5 Regulations
5.1 Rules and regulations
In the confectionery industry, it is essential to be familiar with various rules and regulations:
EC Regulation No. ***/****: this regulation sets standards for food safety and quality, including the confectionery sector; specifically, the general principles of food legislation are dictated, creating the European Food Safety Authority. Regulation (***) No. ****/****: concerns the provision ...
6 Positioning of actors
6.1 Segmentation
- Ferrero
- Perfetti Van Melle
- Elah Dufour
- Sperlari
- Ambrosoli
- Fida
List of charts presented in this market study
- Consumer price index in jams, marmalades and honey
- Cocoa, chocolate, candy and confectionery producer price index
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Latest news
Ferrero, holding company of cookies and foreign companies acquired in the red: Cth closes 2023 with a loss of 364 million - 03/04/2024
- Cth Invest, the holding company for Ferrero's foreign corporate holdings, reported a loss of nearly 364 million in 2023.
- Fox's Burton's Company Group, acquired in 2021, posted a loss of 23.2 million.
- Teseo Capital reported a loss of 12 million euros.
- Since acquiring foreign companies since 2016, in total Ferrero has accumulated losses of 414 million euros.
- The foreign acquisition started in 2015 with Thomtons resulted in expenses of €112 million.
- Despite the losses, Ferrero International ended the year with a margin of €2.2 billion and a profit of more than €752 million.
- The merger that led to the formation of the current Cth Invest was aimed at facilitating access to external financing and financing support, both for refinancing and new acquisitions, as reported in the merger plan between Cth Invest and Cdm International Holding.
- The strategy of diversifying into lower margin segments than chocolate to avoid erosion of earnings from Ferrero's traditional brands led to the acquisition of Delacre, Kelsen, Fox's, and Ferrara Candy candies.
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the confectionery market | Italy
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