Pune, India, 01 Feb. 2022 (GLOBE NEWSWIRE) — The global impact of COVID-19 on the confectionery market size is expected to reach USD 188.52 billion in 2020, from USD 202.63 billion forecast before the coronavirus outbreak, according to the report. special Fortune Business Insights™ on this market, titled “Impact of COVID-19 on Confectionery Market Size, Share, Industry Analysis and Regional Forecast 2019-2026”. As the number of coronavirus cases worldwide continues to rise, currently standing at 2.8 million with more than 200,000 deaths, nations have imposed strict lockdowns and mass quarantines to stifle the spread of the virus. ‘infection.

For example, Italy, one of the worst affected countries, implemented a nationwide lockdown, quarantining 60 million people and shutting down all kinds of economic activities. Similar scenes have been seen in countries like France, UK, China and India. The abrupt shutdown of economic activities has severely affected the growth of the confectionery market as people have limited their purchases to essential items exclusively while delaying their consumption of leisure products such as chocolates and baked goods.

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List of Companies Covered in the Confectionery Market Report:

• Orion Corp.

• Pladis

• Nestlé SA

• Meiji Co.Ltd.

• Ferrero Group

• Ezaki Glico Co. Ltd.

• Lindt & Sprüngli AG chocolate factory

• The Hershey Company

• Mondelez International

• March, Incorporated


The special report contains the following information:

  • Short and long term impact of the COVID-19 outbreak on the global confectionery market;
  • Changing dynamics of demand for confectionery items in different regions;
  • Opportunities created by the pandemic for market players;
  • The response of companies operating in this market to the crisis; and
  • Government actions affecting global market growth.


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Restrictions on supermarkets to hamper market growth

While local grocery stores in most countries have been forced to close to avoid people congregating, supermarkets have been kept open to ensure people have daily access to essential supplies. However, these spaces are designed to follow strict social distancing rules as well as rules to avoid panic and bulk purchases. For example, customers in some US states are allowed to shop in a supermarket for only 10 and they are prohibited from buying more than 10 items, thus avoiding unnecessary hoarding. Likewise, Tesco is limiting purchases to just three per customer to ensure there are enough supplies for everyone. Since the aim of governments is to facilitate the supply and distribution of essential foods and other items only, such as toilet paper, milk and vegetables, the demand for confectionery products has dropped and the market world has been seriously affected.

Segmentation-

By Type, the market is split into:

On the basis of distribution channel, the market is split into:

  • Hypermarket/Supermarket
  • convenience stores
  • Departmental stores
  • Online retail

On the basis of geography, the global market is divided into:

  • North America
  • Europe
  • Rest of the world

Level of exposure to determine the regional impact of the pandemic

The COVID-19 outbreak has affected all regions considered in this report. However, the greatest impact is expected to be borne by Europe, where the market size stood at USD 76.12 billion in 2019 and the region dominated the confectionery market share at 39%. This is expected as the number of COVID-19 cases soars in Europe, with the greatest weight borne by the region’s strongest economies, namely the UK, Italy, France, India. Germany, Spain and the Netherlands. These countries are also home to some of the largest premium chocolate makers in the world and so the region is likely to be badly hit by the coronavirus pandemic as demand for these items steadily declines. Apart from Europe, the North America and Asia-Pacific market, two of the largest confectionery consuming regions in the world, are also expected to be impacted owing to the relentless increase in cases in these regions.

Competitors need to focus on mitigating their losses

Competition in the confectionery market is highly monopolistic, with a strong presence of a limited number of giant corporations. However, despite their deep-rooted presence in the market, these conglomerates are adopting measures to prepare for the challenges posed by the COVID-19 pandemic to their revenue streams.

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Detailed Table of Contents:

  • introduction
    • Search scope
    • Market segmentation
    • Research Methodology
    • Definitions and assumptions
  • Summary
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
    • Emerging trends
  • key ideas
    • Overview of Related/Parent Market
      • Trend in global chocolate consumption
      • Trend in world cocoa production
    • Supply chain analysis
    • Industry SWOT Analysis
    • Recent Industry Developments – Mergers & Acquisitions, Expansions, Partnerships and
    • Qualitative analysis (Regarding COVID-19)
      • Impact of COVID-19 on the Confectionery Market (Revenue Impact)
      • Impact of COVID-19 on the confectionery supply chain
      • Potential opportunities due to COVID-19
      • Key Industry Developments – Responding to the Impact of COVID-19
        • Supply chain challenges for cocoa and other raw materials
        • Manufacture of confectionery products (operation of factories)
        • Structural changes in the supply chain and change in consumer buying behavior
  • Global Confectionery Market Analysis, Outlook and Forecast, 2015-2026
    • Main results/summary
    • Market size estimates and forecasts
      • By type
      • By distribution channel
        • Hypermarket/Supermarket
        • convenience stores
        • Departmental stores
        • Online retail
      • By region
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East and Africa

TOC Continued…!


Industry developments:

  • March 2020: The value of the Kellogg Company has soared amid the coronavirus outbreak as consumers have started stockpiling the company’s renowned cereals and snacks. With its diverse portfolio, the company expects to successfully weather the impact of the pandemic on its business and is taking strong action to protect its manufacturing operations in 180 countries.
  • February 2020: Mars, Incorporated announced plans to provide pet food supplies and veterinary services to millions of tame animals in coronavirus-hit China. The company’s goal is to maintain its strong 30-year network in China’s nascent pet care market and continue operations during the COVID-19 outbreak.


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Take a look at related research information:

Confectionery Market Size, Industry Share and Analysis, by Type (Chocolate, Sugar and Gums), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Department Stores and Online Retail) and Regional Forecast, 2019- 2026

Confectionery Ingredients Market Size, Industry Share & Analysis, By Type (Dairy Ingredients, Cocoa & Chocolate, Emulsifiers, Others), By Source (Natural, Synthetic), By Application (Chocolate Confectionery, Sugar Confectionery, bakery confectionery) and regional forecast, 2019 -2026

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