(Entertainment-NewsWire.com, May 31, 2018 ) The UAE Sugar Confectionery market is expected to reach USD 136 million by 2023 at a CAGR of 10.6%, during the forecast period. The UAE Sugar Confectionery volume sale surpassed 4.71 million Kg in 2017 registering a healthy single digit growth rate during the forecast period.
Sugar confectionery is the second largest category among confectionery market. Marketing strategy and distribution are the primary driver fueled the Sugar Confectionery market growth. The category is relatively small with a value share of 12.8% in the UAE confectionery market.
About 50% of the UAE population is under 25 year, which drive the sugar confectionery products sale. Sugar confectionery regarded as children targeted product, which limits its consumer base compared to chocolate. Attractive packaging, new product introduction in a convenient format, such as tic tac, Werther's Original, and Smint is the growing trend in Sugar Confectionery sales. Growing health consciousness among consumer related to high sugar content in confectionery led to the strong performance of many brands. Medicated confectionery, which contains active ingredients, is growing at a faster rate of 10.5% owing to its health benefits. Pastilles, Gums, Jellies, and Chews and mints are the fastest growing category driven by product innovation. Tic tac which focused on oral health, Werther's Original toffee made up of sugar-free caramels recorded more rapid growth in the past few years.
Distribution Channel Driving Sales
Supermarket/hypermarket holds more than 52% share in the distribution channel sales. Expanding supermarket/hypermarkets in the region driven impulse buying behavior of consumers offering discounts and multiple varieties. UAE retail sector is expected to reach UAS 71 billion by 2021, witnessing a CAGR of 4.9%. About 86% of the population lives in urban cities, which drives the retail sales. However, imposing of VAT in early 2018 has slowed down the retail sales and affected the consumer purchasing behavior. E-commerce sales of Sugar Confectionery registered 18.5% growth rate in the past five years, which possesses tough competition to supermarkets and convenience stores sales.
Mondel?z International, Inc., Nestlé SA, Procter & Gamble Co., Perfetti Van Melle Group, Ricola Ltd, The Hershey Company, Ferrero Group, Herbion International Inc., Ferndale Confectionery Pty Ltd, Mars Inc., Storck KG, August
Key Developments
Werther's Original from Storck KG, August registered a healthy growth rate of 4.9%, during 2012-2016, occupying more than 9% of the retail sugar confectionery sale. Skittles, Haribo and tic tac are popular brand which performed well over the period with tic tac registering 12.6% value CAGR during 2012-2016
The UAE sugar confectionery market is competitive with many foreign players occupying major share. Perfetti Van Melle remains the dominant player in the sugar confectionery market, which is followed by Storck KG among others. Innovative product launch focused on health & wellness is the major strategy adopted by these players.
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