Asia-Pacific sugar confectionery market is estimated to grow at a CAGR of 4.3% during the forecast period. Increasing launches of new flavored and sugar-free confectionery products is one of the major factors leveraging market growth. For instance, in March 2020, Danone is expanding its yoghurt brand YoPro, an Australian firm into a completely new category, nut protein bars. It is an on-the-go snack range to fulfill the requirements of post-workout recovery. This brand contains 20-gram protein and has no added sugar, artificial sweeteners, artificial colors, or flavors. These bars also have an advanced protein blend with high fiber and collagen. YoPRO Nut Protein Bars are available in Woolworths, Australia with flavors include Apple Cinnamon, Salted Caramel, and Mixed Berry. The increasing launches of these new snack bars and increasing shift towards a healthier lifestyle is driving the consumption of snack bars in the region.

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Asia-Pacific sugar confectionery market is segmented based on product and distribution channel. Based on the product, the market is classified into chocolate, sugar based food, and snack bars. Chocolate segment is further segmented into white and milk chocolate and dark chocolate. Sugar based food segment is further segmented into boiled sweets, caramels and toffees, mints, gums and jellies, and others. Snack bars segment is further segmented into energy bars, cereal bars, and others. Based on the distribution channel, the market is segmented into an online and offline distribution channel. Offline distribution channels are further segmented into supermarket/hypermarket, convenience stores, and others. The online distribution channel is expected to grow at the fastest CAGR during the forecast period. The rising trend towards online shopping coupled with the busy lifestyle and convenience is encouraging providers of confectionery products to increase their online presence. Mondel?z is one of the key players continuously focusing on expanding its online reach in the region.

Based on countries, the market is segmented into China, India, Japan, and the Rest of Asia-Pacific. China is expected to witness potential share in the market owing to the rising demand for nuts and seeds snacks and the expansion of major players in the country. In addition, the emerging focus on e-commerce expansion is further supporting to drive market growth. For instance, in April 2016, Mondelez International entered into a strategic e-commerce collaboration with Alibaba Group to sell its products. This will enable Chinese consumers to buy a complete range of Mondelez International products, such as Cadbury, belVita, Oreo, Chips Ahoy!, Trident, and Toblerone, through Alibaba's Tmall.com platform, which is the country’s largest third-party B2C e-commerce platform for retailers and brands.

Some prominent players in the market include Mondel?z International, Inc., Ferrero International S.A., Nestlé S.A., ITC Ltd., and Meiji Holdings Co., Ltd. Product launches and mergers and acquisitions, are certain strategies adopted by the market players to expand market share and gain a competitive advantage. For instance, in January 2020, Hershey India Pvt Ltd. declared the launch of its chocolate bars under its flagship Hershey’s brand. With the introduction of the bars, the company enters the chocolate market led by Mondelez. With the launch of chocolate bars, the company is looking to widen its outlet reach by 3 times that will enable the firm to be available in upscale general trade stores, modern trade, and e-commerce platforms. With the widened portfolio, Hershey will go deeper into the major 70 cities in urban India. The Hershey’s Bars are available in three variants, including Cookies ‘n’ Crème, the classic Creamy Milk, and the Whole Almonds variant. 

Research Methodology

The market study of the Asia-Pacific sugar confectionery market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Asia-Pacific Sugar Confectionery Market Research and Analysis by Product
2. Asia-Pacific Sugar Confectionery Market Research and Analysis by Distribution Channel

The Report Covers

• Comprehensive research methodology of the Asia-Pacific sugar confectionery market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific sugar confectionery market.
• Insights about market determinants which are stimulating the Asia-Pacific sugar confectionery market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.