Confectionery Market

The confectionery market is projected to grow with a CAGR of +1.8% in volume and +2.9% in value from 2022 to 2030, reaching 84M tons and $455.7B respectively. Consumption decreased slightly in 2022 but had been growing at an average rate of +1.9% annually. China, the US, and India were the top consuming countries, while chocolate and confectionery led in both volume and value. Global production and imports also increased, with Germany, the Netherlands, and Belgium being major exporters. The average confectionery export price remained stable in 2022.

Market Forecast

Driven by increasing demand for confectionery worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.8% for the period from 2022 to 2030, which is projected to bring the market volume to 84M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $455.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Confectionery

In 2022, consumption of confectionery decreased by less than 0.1% to 73M tons, falling for the third year in a row after eight years of growth. The total consumption volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2018 when the consumption volume increased by 5.2%. Global consumption peaked at 74M tons in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global confectionery market value dropped modestly to $363.2B in 2022, standing approx. at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2016 with an increase of 7.8% against the previous year. Over the period under review, the global market attained the maximum level at $378.8B in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (12M tons), the United States (8.2M tons) and India (3.6M tons), with a combined 32% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by China (with a CAGR of +3.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($47.1B), the United States ($32.9B) and Japan ($28.6B) were the countries with the highest levels of market value in 2022, together accounting for 30% of the global market. India, Pakistan, Germany, Nigeria, Indonesia, the UK, Brazil, Mexico, Russia and Bangladesh lagged somewhat behind, together comprising a further 20%.

India, with a CAGR of +5.6%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of confectionery per capita consumption in 2022 were Germany (26 kg per person), the United States (24 kg per person) and the UK (20 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by China (with a CAGR of +3.6%), while consumption for the other global leaders experienced more modest paces of growth.

Consumption By Type

Chocolate and confectionery (53M tons) constituted the product with the largest volume of consumption, accounting for 72% of total volume. Moreover, chocolate and confectionery exceeded the figures recorded for the second-largest type, candies, sweets, and nonchocolate confectionery (21M tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of the volume of chocolate and confectionery consumption amounted to +2.3%.

In value terms, chocolate and confectionery ($253.7B) led the market, alone. The second position in the ranking was taken by candies, sweets, and nonchocolate confectionery ($64.8B).

From 2012 to 2022, the average annual growth rate of the value of chocolate and confectionery market amounted to +2.8%.

Production

World Production of Confectionery

Global confectionery production reduced modestly to 74M tons in 2022, stabilizing at the year before. The total output volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 5%. Over the period under review, global production hit record highs at 74M tons in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, confectionery production dropped to $312.2B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 12% against the previous year. Global production peaked at $385.3B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (12M tons), the United States (6.7M tons) and India (3.7M tons), with a combined 31% share of global production.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +3.7%), while production for the other global leaders experienced more modest paces of growth.

Production By Type

Chocolate and confectionery (53M tons) constituted the product with the largest volume of production, comprising approx. 72% of total volume. Moreover, chocolate and confectionery exceeded the figures recorded for the second-largest type, candies, sweets, and nonchocolate confectionery (21M tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of the volume of chocolate and confectionery production amounted to +2.3%.

In value terms, chocolate and confectionery ($246.5B) led the market, alone. The second position in the ranking was held by candies, sweets, and nonchocolate confectionery ($69.8B).

For chocolate and confectionery, production expanded at an average annual rate of +2.6% over the period from 2012-2022.

Imports

World Imports of Confectionery

In 2022, global confectionery imports stood at 15M tons, increasing by 3.4% compared with 2021 figures. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 8.9%. Over the period under review, global imports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, confectionery imports expanded to $60.1B in 2022. The total import value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 13% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (2.1M tons), distantly followed by Germany (1,006K tons), France (904K tons), the UK (867K tons) and the Netherlands (806K tons) were the largest importers of confectionery, together committing 39% of total imports. Belgium (565K tons), Canada (490K tons), Poland (465K tons), Russia (454K tons), Spain (320K tons), Italy (318K tons), Japan (272K tons) and China (249K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to confectionery imports into the United States stood at +4.2%. At the same time, Poland (+7.2%), China (+7.0%), the Netherlands (+5.0%), the UK (+4.4%), Belgium (+4.3%), Canada (+3.5%), Italy (+3.5%), Spain (+3.5%), France (+2.6%), Russia (+1.8%), Germany (+1.7%) and Japan (+1.2%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the world, with a CAGR of +7.2% from 2012-2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the largest confectionery importing markets worldwide were the United States ($8B), Germany ($4.5B) and the UK ($3.8B), with a combined 27% share of global imports. France, the Netherlands, Belgium, Canada, Poland, Italy, Russia, China, Spain and Japan lagged somewhat behind, together comprising a further 33%.

Poland, with a CAGR of +7.6%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2022, chocolate and confectionery (10M tons) was the largest type of confectionery, making up 71% of total imports. It was distantly followed by candies, sweets, and nonchocolate confectionery (4.2M tons), committing a 29% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to chocolate and confectionery imports of stood at +3.1%. At the same time, candies, sweets, and nonchocolate confectionery (+3.3%) displayed positive paces of growth. Moreover, candies, sweets, and nonchocolate confectionery emerged as the fastest-growing type imported in the world, with a CAGR of +3.3% from 2012-2022. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, chocolate and confectionery ($44.8B) constitutes the largest type of confectionery imported worldwide, comprising 77% of global imports. The second position in the ranking was taken by candies, sweets, and nonchocolate confectionery ($13.8B), with a 23% share of global imports.

For chocolate and confectionery, imports increased at an average annual rate of +3.2% over the period from 2012-2022.

Import Prices By Type

In 2022, the average confectionery import price amounted to $4,097 per ton, flattening at the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 7% against the previous year. As a result, import price attained the peak level of $4,330 per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major imported products. In 2022, the product with the highest price was chocolate and confectionery ($4,440 per ton), while the price for candies, sweets, and nonchocolate confectionery amounted to $3,304 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by candy, sweets, and nonchocolate confectionery (+0.3%).

Import Prices By Country

In 2022, the average confectionery import price amounted to $4,097 per ton, approximately equating the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 7% against the previous year. As a result, import price attained the peak level of $4,330 per ton. From 2015 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($5,040 per ton), while Russia ($2,912 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Confectionery

In 2022, global confectionery exports totaled 15M tons, with an increase of 2.9% on the previous year. The total export volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 11% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, confectionery exports reached $60.8B in 2022. The total export value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 13%. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

Germany (1.7M tons) and the Netherlands (1.4M tons) represented the largest exporters of confectionery in 2022, recording near 11% and 9.6% of total exports, respectively. It was followed by Belgium (929K tons), comprising a 6.2% share of total exports. Poland (604K tons), Canada (602K tons), Turkey (597K tons), Mexico (587K tons), the United States (561K tons), France (553K tons), China (512K tons), Italy (506K tons), Spain (494K tons) and Malaysia (475K tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +7.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest confectionery supplying countries worldwide were Germany ($8.3B), the Netherlands ($5.9B) and Belgium ($4.2B), together accounting for 30% of global exports. Poland, Italy, Canada, the United States, France, China, Turkey, Spain, Mexico and Malaysia lagged somewhat behind, together comprising a further 36%.

Poland, with a CAGR of +7.7%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Chocolate and confectionery was the main type of confectionery in the world, with the volume of exports resulting at 10M tons, which was near 70% of total exports in 2022. It was distantly followed by candies, sweets, and nonchocolate confectionery (4.5M tons), constituting a 30% share of total exports.

Exports of chocolate and confectionery increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, candies, sweets, and nonchocolate confectionery (+3.8%) displayed positive paces of growth. Moreover, candies, sweets, and nonchocolate confectionery emerged as the fastest-growing type exported in the world, with a CAGR of +3.8% from 2012-2022. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, chocolate and confectionery ($45.5B) remains the largest type of confectionery supplied worldwide, comprising 76% of global exports. The second position in the ranking was held by candies, sweets, and nonchocolate confectionery ($14.6B), with a 24% share of global exports.

From 2012 to 2022, the average annual rate of growth in terms of the value of chocolate and confectionery exports amounted to +3.1%.

Export Prices By Type

In 2022, the average confectionery export price amounted to $4,037 per ton, approximately mirroring the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 4.1%. As a result, the export price attained the peak level of $4,267 per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat amongst the major exported products. In 2022, the product with the highest price was chocolate and confectionery ($4,450 per ton), while the average price for exports of candies, sweets, and nonchocolate confectionery amounted to $3,257 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by candy, sweets, and nonchocolate confectionery (+0.2%).

Export Prices By Country

The average confectionery export price stood at $4,037 per ton in 2022, therefore, remained relatively stable against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 4.1% against the previous year. As a result, the export price attained the peak level of $4,267 per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($5,493 per ton), while Mexico ($2,869 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform