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The Asia Pacific Confectionery Market Size is anticipated to register a CAGR of 4.5% during the forecast period (2016 - 2022).
Confectionery refers to a large food of items, also called as sweets. Confectionery is further divided into two broad terms: sugar and baker's confectionary. Sugar Confectionary includes candies, sweets, chewing gums, chocolate and others that have sugar as a main ingredient. Chocolate confectionaries are sometimes treated as a different category. These products are available in different flavors and floral coloring, which adds more value to its popularity among population. Baker?s confectionary includes food items such as pastries, cakes, and similar food items.
Growing population and growing income level of middle and upper-class consumers is contributing in the growth of confectionery market. Owing to this, manufacturers are offering wider range of products in accordance with consumer needs. Additionally, it has been observed that mints and gums are some of the confectionery items that are witnessing huge demand among offices. There have been several reasons for the same. As per the study, most of the people believe that mints help them in better concentration. Hence, rising demand of disposable income would contribute in the growth of the confectionery market.
The market is segmented on the basis of type and Country. Based on Type, the market is segmented into Chocolate, Sugar, Fine Bakery Wares, and Others (Gums, Snack Products, Brand Ice Creams, and Raw Pastes). Chocolate market is further segmented into White Chocolate, Milk Chocolate, and Dark Chocolate. Sugar is further segmented into Hard-Boiled Sweets, Caramels & Toffees, Medicated Confectionery, Gums & Jellies, and Others (Marshmallows, Nougat, Lollipops, and Liquor ice).
Based on Country, the market is segmented into China, Japan, India, South Korea, Singapore, Australia and Rest of Asia-Pacific. The key players operating in the confectionery market are Mars Inc., Nestle, Mondelez International, Inc., Ferrero, Ezaki Glico Co., Ltd., Delfi Limited, Lindt & Spr?ngli AG, and Lotte Group.