Market Forecast By Types (Pastilles, Jellies, Caramel & Toffees, Hard-Boiled Sweets, Medicated Confectionery, Mint, Gums, Others (marshmallows, nougat, lollipops, licorice, etc.)), By Packaging Types (Sachet, Box & Others), By Distribution Channels (Retail Stores, Online Stores & Others) and competitive landscape
| Product Code: ETC002435 |
Publication Date: Aug 2023 |
Product Type: Report |
| Publisher: 6Wresearch |
No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Latest 2023 Development of the India Sugar Confectionary Market
India Sugar Confectionary Market has been gaining traction in the coming years, driven by increasing disposable income, changing consumer preferences, and the growing popularity of sugar confectionery. However, there was a growing demand for healthier and natural sugar confectionery products, which was leading some manufacturers to develop products made with natural ingredients. With the increase in disposable income of the population, the demand for sugar confectionery has also increased. The rapid urbanization in India is driving the growth of the sugar confectionery market. The growing demand for healthy and organic sugar confectionery products is also propelling the growth of this market. With advancements in technology, manufacturers can produce innovative and high-quality sugar confectionery products that are attracting more consumers and propelling the India Sugar Confectionary Market growth.
The growth of e-commerce platforms has made it easier for consumers to purchase sugar confectionery products online. This factor is proliferating the demand for sugar confectionary items in the country. Furthermore, the growing population of India is driving the demand for sugar confectionery products, as the market is catering to a larger consumer base, which in turn contributes to the overall market development.
India Sugar Confectionery Market Synopsis
India Sugar Confectionery market report thoroughly covers the market by types, packaging types, distribution channels, and regions. India Sugar Confectionery market outlook report provides an unbiased and detailed analysis of the ongoing India Sugar Confectionery market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
According to 6Wresearch, India Sugar Confectionery Market is anticipated to register growth during 2020-2026. Retailing in India is one of the key economic pillars and accounts for 14-15 per cent of its gross domestic product (GDP). The government of India with the aim of becoming the fastest-growing retail market in the world by 2025 has come up with the “Indian Retail Industry, 2025” initiative, which would allow 51 per cent foreign direct investment (FDI) in multi-brand retail chains and 100 per cent foreign direct investment in single-brand retail chains. Moreover, the Department for Promotion of Industry and Internal Trade (DIPP) has come up with local sourcing norms for global retailers to establish retail stores in India. Thus, the expansion of the retail sector would create ample opportunities for the sugar confectionery market in India.
India sugar confectionery Market is expected to witness significant growth in the coming years as a result of an increase in the changing taste and preferences of the consumers in the country. A rise in the growth of the food industry is expected to leave a positive impact on the growth of the India sugar confectionery market. growth in the retail market along with the rising discretionary spending of the middle-class population of the country towards gifting trends has led to a proliferation of the India sugar confectionery market and is anticipated to, further assist the potential growth of the market in the coming timeframe. The introduction of new flavours and a wide variety of shapes of the product along with a rise in the variants in tastes of children has led to an increase in the market size and is expected to proliferate the growth of the market in the coming years as well.
India sugar confectionery market is projected to witness substantial growth in the upcoming six years on the back of the rising expatriate population in the country, especially in Mumbai and Goa coupled with rising supermarket and bakeries presence which tends to attract a large number of populations in purchasing innovative confectionery items and products and is expected to instigate consumption for sugar confectionery product in the market in the forthcoming years. Further, India has a ritual of having sugar-based products like sweets to celebrate an auspicious moment, there are several famous festivals being celebrated in India by using traditional sweets, but the evolution of innovative sugar confectionery items which tend to carry mouth-watering flavours have replaced the purchase of traditional sweets and this is estimated to contribute towards the extensive growth in the sales of sugar confectionaries during the festive season and is expected to boost the product demand and would benefit the India sugar confectionery market in the upcoming six years.
India sugar confectionery market is anticipated to find its true potential in the market underpinned by the evolving e-commerce platforms with the increase in the growth of mobile users with adequate internet access facilities, which is leading to stimulate the population to order an online sugar-based baked product such as biscuits, cakes, and candies and the demand is especially high at times of occasions which is estimated to impact favourably towards the growth of the sugar confectionery market in the country in the coming timeframe.
Market Analysis By Packaging Types
By packaging types, sachet sugar confectionery packaging accounts for a significant share of the India sugar confectionery market as sachet packaging is affordable, customizable, and eco-friendly. Further, the rising demand for convenience and “on-the-go” compatibility of products is driving the “miniaturization” trend in packaging, thus creating ample demand for sachet sugar confectionery packaging in the Indian market.
COVID-19 Impact on India Sugar Confectionary Market
The outburst of coronavirus led to a decline in the growth of almost every industry. The India Sugar confectionary market also suffered a major setback due to the nationwide restrictions imposed by the government of country. A lockdown was imposed by the country that further led to disruption in the supply chain of Sugar confectionery.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2016 to 2019.
- Base Year: 2019.
- Forecast Data until 2026.
- Key Performance Indicators Impacting the Market.
Key Highlights of the Report:
- India Sugar Confectionery Market Overview
- India Sugar Confectionery Market Outlook
- India Sugar Confectionery Market Forecast
- Historical Data of India Sugar Confectionery Market Revenues for the Period 2016-2019
- India Sugar Confectionery Market Size & Sugar Confectionery Market Forecast of Revenues, Until 2026
- Historical Data of India Sugar Confectionery Market Revenues, By Types, for the Period 2016-2019
- Market Size & Forecast of India Sugar Confectionery Market Revenues, By Types, Until 2026
- Historical Data of India Sugar Confectionery Market Revenues, By Packaging Types, for the Period 2016-2019
- Market Size & Forecast of India Sugar Confectionery Market Revenues, By Packaging Types, Until 2026
- Historical Data of India Sugar Confectionery Market Revenues, By Distribution Channels, for the Period 2016-2019
- Market Size & Forecast of India Sugar Confectionery Market Revenues, By Distribution Channels, Until 2026
- Historical Data of India Sugar Confectionery Market Revenues, By Regions, for the Period 2016-2019
- Market Size & Forecast of India Sugar Confectionery Market Revenues, By Regions, Until 2026
- Market Drivers and Restraints
- India Sugar Confectionery Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis and Market Opportunity Assessment
- India Sugar Confectionery Market Share, By Players
- India Sugar Confectionery Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Markets Covered
The India Sugar Confectionery Market report provides a detailed analysis of the following market segments:
By Types
- Pastilles
- Jellies
- Caramel & Toffees
- Hard-Boiled Sweets
- Medicated Confectionery
- Mint
- Gums
- Others
By Packaging Types
By Distribution Channels
- Retail Stores
- Online Stores
- Others
