The global liquor confectionery market size is expected to
reach USD 784.4 million by 2025, expanding at a CAGR of 5.1% from 2019 to 2025,
according to a new report by Grand View Research Inc. High demand for liquor
confectionery among people due to increasing awareness about innovative liquor filled
confectionery with traditional techniques is expected to drive the market from
2019 to 2025. Europe majorly follows these traditional techniques to enjoy the
taste of confectioneries as well as forms of alcohol beverage content.
Chocolates generated a revenue of USD 382.4
million in 2018. Many people still follow the tradition of handmade
confectioneries of liquors. Whereas, consumption of liquor confectionery in
candies and gums such as jelly belly champagne jelly beans, prosecco gummy
bears, wine gums, and salt water taffy rum gums is expected to expand at a CAGR
of 4.6% over the forecast period. This growth is attributed to high demand for
the infusion of alcohol flavor in it and increasing consumption among people
who prefer candies and gums over chocolates. This is expected to remain a key
driver for the segment growth over the forecast period. For instance, Kahlua
Chocolates manufactures candy beans and gums with different flavors and colors
and a feature to freeze these in order to make them last longer.
Supermarkets/hypermarkets held the largest
share and generated a revenue of USD 282.6 million in 2018. Ample opportunities
to select, presence of guidance, and discounts are the main reasons that have
been driving companies to offer their products through this channel. The online
mode of distribution channel is anticipated to expand at a CAGR of 5.7% over
the forecast period. The Verment country store, Amazon, Alibaba, Indiamart,
Candywarehouse, and Wishacupcake are gaining popularity due to availability of
choices for the convenience of customers.
Demand for liquor confectioneries has
increased due to innovations. Major market players have been significantly
contributing into research and development to make these products available
according to the taste and preference of the consumers. For instance, Neuhaus
manufactures liquor chocolates with five types of liquors included in it such
as Glenfiddich whisky, Cointreau, Smirnoff vodka, Pampero rum, and Remy
martin cognac.
Europe was the largest regional market in 2018
with a revenue of USD 272.8 million. The region is expected to maintain its
lead over the forecast period. Key players in the global market include Abtey Chocolate Factory, Neuhaus, Mars, Brookside,
Hershey’s, Ferrero, Mondelez, Toms Gruppen, Liqueur Fills, and Booz Drops.
For full research report on Liquor
Confectionery Market visit here: https://www.grandviewresearch.com/industry-analysis/liquor-confectionery-market
Further key
findings from the report suggest:
- By product, candies and gums are expected to
register a CAGR of 4.6% from 2019 to 2025
- By distribution channel,
supermarkets/hypermarkets dominated the global market with a share of
52.9% in 2018
- Europe dominated the market in 2018 with a
revenue of USD 272.8 million in 2018. This trend is projected to continue
over the next few years
- Asia Pacific is likely to witness significant
demand due to increase in awareness and adaptability to innovative
products in chocolates and candies consisting liquor for the little intake
of alcohol
- The liquor confectionery market is highly
competitive in nature with the main players including Ferrero,Toms
Gruppen, and Neuhaus
- Various manufacturers are concentrating on new
product launches, capacity expansion, to estimate existing and future
demand patterns from upcoming product segments.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/liquor-confectionery-market/request/rs1
Grand
View Research has segmented the global liquor confectionery market on the basis
of product, distribution channel, and region:
Liquor
Confectionery Product Outlook (Revenue, USD Million, 2015 - 2025)
- Chocolates
- Candies & Gums
Liquor
Confectionery Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Supermarkets/Hypermarkets
- Specialty Stores
- Online
Liquor
Confectionery Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- U.K.
- Germany
- Switzerland
- Belgium
- Asia Pacific
- China
- Central & South
America
- Middle East &
Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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