(Entertainment-NewsWire.com, June 05, 2018 ) Confectionery is the art of making confections, which are food items that are rich in sugar and carbohydrates. Exact definitions are difficult. In general, though, confectionery is divided into two broad and somewhat overlapping categories, bakers' confections and sugar confections. Bakers' confectionery, also called flour confections, includes principally sweet pastries, cakes, and similar baked goods. The confectionery industry also includes specialized training schools and extensive historical records.
The North America Confectionary market size was around USD 15.53 billion in 2016. It is expected to grow at a CAGR of 5.51% to reach USD 20.03 billion by 2021. It captures 30% of the global market. The market here is driven by increasing urbanization, growing personal income with increasing purchasing capability, growing middle-class population within the developing countries of the region.
The primary factors that drive the confectionery market include the increasing demand of confectionery ingredients in numerous industries like chocolate, sugar confectionery, gums, and various industries like caramel, aerated confectionery, and cereal bars. As a result of the factors such as ever-changing client lifestyles and increasing research and development, and innovations to strengthen the confectionery ingredients market, the North America confectionery market is witnessing growth.
The increasing demand for natural ingredients thanks to increasing customer awareness and health advantages of chocolates have been showing a significant impact on the expansion of the market in North America. Introduction of odor sensations, combination of liquid & solid flavors, and energy boosts in confectionery products drive the growth and development of the confectionery market worldwide.
By geography the market is segmented into US and Canada. The U.S. is the largest confectionery market worldwide. Wide range of confectionery products are vended through various retail channels such as hypermarkets, supermarkets, convenience stores, discounters, forecourt retailers, and grocery stores. These stores act as North America marketing tool, assisting in building an impressive brand image and raise brand exposure of wide variety of products.
Key players in the North America market include Delfi Limited, Ezaki Glico Co. Ltd., Ferrero SpA, Lindt & Sprüngli AG, Lotte Confectionery Co. Ltd., Mars Incorporated, Mondelez International Inc., Nestlé S.A., The Hershey Company and Wm. Wrigley Jr. Company.
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