The global liquor
confectionery market is projected to reach US$ 580 Mn in
2022, finds Future Market Insights (FMI) in a latest market analysis. With
sales growing at a 5.4% CAGR, the market valuation will
reach US$ 981.4 Mn by 2032.
New product launches with different flavoured chocolates,
candies and gums are anticipated to positively influence the growth of the
market. For instance, Abtey has introduced a new range of products that are
prepared from refined alcohol and ganache centres.
The four new variants of coulis including ganache and
Cointreau jelly, ganache and rum jelly, mousse and kirsch jelly, and ganache
and strawberry jelly. Such developments are expected to create opportunities
for growth in the market.
Further, increasing demand for premium liquor chocolates for
gifting purposes and for serving as desserts at social gatherings is
anticipated to drive the market in the forthcoming years.
In addition to this, due to growing preference for online
retail, manufacturers are launching their products at online retail channels to
gain a competitive edge. This has also resulted in high availability of liquor
confectionery in various developing countries, thereby augmenting the growth in
the market.
“Growing preference for premium liquor-based
chocolates across the globe, along with surging demand for liquor cocktail
gummies will continue steering the growth in the market over the forecast
period,” says an FMI analyst.
Global Liquor Confectionery Market by Category
By Product Type:
- Candies
- Gums
- Chocolates
By Distribution Channel:
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Convenience
Stores
- Specialty
Stores
- Independent
Retailers
- Online
Retailers
Key Takeaways:
- Germany is
projected to dominate the Europe liquor confectionery market.
Total demand in Europe will account for 30% of the global market
share in 2022.
- The
U.S. will hold nearly 80% of the North America liquor
confectionery market over the forecast period.
- By
product type, chocolate liquor confectionery is expected to account for
the maximum market value share of the global market in 2022.
- In
terms of distribution channels, sales in the indirect segment are forecast
to remain high over the assessment period.
Competitive Landscape
Leading players operating in the liquor confectionery market
are investing in mergers, acquisitions, and collaborations to expand theior
grographical footprint. They are also focusing on promotional strategies to
advertise their products on social media channels to improve sales. Key
Companies Profiled are:
- Hershey’s
- Ferrero
SpA
- Mondelez
International
- Toms
Gruppen
- Liqueur
Fills
- Abtey
Chocolate Factory
- Neuhaus
- Mars
- Brookside
- Booz
Drops
Access Full Report: https://www.futuremarketinsights.com/reports/liquor-confectionery-market