This Asean Confectionery market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Asean Confectionery market.
ASEAN Confectionery Market Overview
Items in confectionery market consists of candies, chocolates, toffees, lollies, bakery items;basically food items that are rich in sugar and sweet content. Mostly confectionery market items consists of food products like butter, cocoa, honey, milk, flour, fruits, honey, nuts, sugar syrup and more. They are consumed globally, mostly by all regions and countries and are expected to grow in developing countries. Confectionery market is growing in mostly all the South East Asian countries and saw a tremendous growth in the last couple of years.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The confectionery market is segmented into three segments – Chocolates, Sugar confectionery and Gum. Chocolates constitutes the significant part of confectionery market. Cocoa and sugar are the raw materials for chocolate and latex is the raw material used for gum.World’s largest cocoa processor Barry Callebaut’s production has also moved to Asia pacific and Latin America because of its low production costs and great future opportunities.Its factories are in Malaysia and Thailand. Nestle has acquired a majority stake in Chinese confectioner Hsu Fu Chi.
Europe constitutes the biggest share of confectionery market, followed by Asia Pacific confectionery market. ASEAN region has become an attractive place to do business. Some big MNC’s have shifted their base(plants) for the production of chocolate to Indonesia to improve efficiency and reduce costs in supply. Indonesia has the most consumption of confectionery items as compared to other South East Asian countries. Flavors GmbH (WILD), another company is opening its branch center in Singapore to serve the hub for the ASEAN region. Main markets in South East Asian countries include Thailand, Vietnam, Philippines and Indonesia for confectionery market.
ASEAN Confectionery Market Dynamics
Rising disposable income, higher population, high GDP growth and consumer spending are the major key drivers of ASEAN confectionery market. The biggest constraint to ASEAN confectionery market could be rise in raw material cost and uncertain consumer behaviour. Also health issues, increasing government regulations, could also be the biggest challenge for confectionery market. Chocolate segment expected to grow the most under ASEAN confectionery market. On special occasions and celebrations, sale of confectionery items increase because people gift each other and its consumption and demand increase. Vietnam is gradually cutting down the import tax imposed on products of ASEAN, countries in accordance with the ASEAN Free Trade Area, AFTA, regulations. As a result, the Vietnamese confectionery market is vibrant compared to other nations.
ASEAN Confectionery Market Distribution Channel
Mostly confectionery items are sold in retail stores, hypermarkets, supermarkets and convenience stores. Multinational flavor companies and smaller local manufacturers are active in South EastAsia confectionery market. The latter offers good distribution expertise and local connections. Innovation by producers playing a great role in experimenting with flavors, taste, size which is driving a growth of this market. Enterprises operating under Vietnamese confectionery market use modern technology of foreign countries such as Germany, Italy, Japan and Austria to make their products, and apply non-chemical preservation techniques
ASEAN Confectionery Market Key Players
Key players in this confectionery market are Ferraro, Hershey’s,Lindt, Wrigley’s, Perfetti Van Melle and ChupaChupa. Product innovation and consistent in quality are the reasons for their success. Dunkin Donuts has signed a franchisee agreement to develop a brand in Vietnam with Vietnam Food and Beverage Co. domestic confectionery companies have simultaneously launched many new products in confectionery market. Pioneers of the campaign included famous companies such as Kinh Do, Bibica, Kotobuki, and smaller producers like Nguyen Tran and ThanhPhat, etc. ierce competition was found between Malaysian Khongguan biscuits and Vietnamese products
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product types and distribution channels.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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- Underlying Asean Confectionery Market forces that are compelling consumers or businesses to purchase the product
- How novel technologies and consumer-centric innovations will create new value-adding opportunities for companies active in the Asean Confectionery Market
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Which framework has been used to develop the Asean Confectionery Market report?
- Investment Feasibility Matrix - It shows returns on investment, level of competition, success rate of investment, and potential risks associated with the market. The analysis shows that the competition is high in the established market, while the returns for short-term investment are also taken into consideration
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