The new report by Expert Market Research titled, 'Latin America Confectionery Market Report and Forecast 2021-2026', gives an in-depth analysis of the Latin America Confectionery Market, assessing the market based on its segments like product type, and distribution channel. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 7.8 Billion
- Forecast CAGR (2021-2026): 1.5%
- Forecast Market Size (2026): USD 8.5 Billion
Brazil, among the major Latin American countries, has a large share of the region's confectionery market and is expected to continue to do so in the forecast period. This can be attributed to the region's growing food and beverage industry as well as its growing middle-class population. In addition, the confectionery export market in Brazil has grown significantly in recent years.
Industry Definition and Major Segments
Confectionery products are those that contain a high amount of sugar. Typically, these are used as sweeteners. Confectioneries include chocolate candies, gum, ice cream, frozen desserts, and sweet baked goods, among other things. Chocolate confectionery and sugar confectionery are two common categories for confectioneries.
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Based on product type, the market is divided into:
- Gums and mints
Based on distribution channel, the industry can be segmented into:
- Supermarkets and hypermarkets
- Convenience stores
- Special stores
The increasing demand for confectionery in Latin America is being driven by the growing middle-class population. The growing chocolate industry, which appeals to both children and adults, is helping to drive the region's confectionery market forward. In the coming years, growing food industry demand, rising consumer demand for packaged food products, and an expanding retail sector in the region are expected to aid market growth.
Key Market Players
The major players in the market are The Hershey Company, Mars Incorporate, Mondelez International, Arcor Group, Nestle S.A, and Canels Group. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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