The Italy confectionery market is expected to reach USD 6.44 billion by 2025 as a result of increasing demand from consumers owing to the rising in disposable income. The confectionery market has witnessed stagnant growth over the past few years owing to the rise in health concerns to avoid sugar and recession. The economic recovery is expected to slowly increase the demand of confectionery over the forecast period. Increasing health awareness among the consumers is expected to drive the healthy eating habits. Thus, manufacturers are launching products to fulfill the requirements of consumer. For instance, dark chocolate nutrition bars and 100% cocoa products are being launched in the market.
The chocolate is considered as a daily snack and has accounted for the largest market share of in 2016 and is expected to remain do over the forecast period as well. This is attributed to the added benefits to the chocolate such as exotic fruits, nuts and nutrients. Thus, helping consumers to fulfill the daily nutritional intake. The busy lifestyle of consumers is expected to augment the growth of on the go nutritional chocolate bars, which is expected to aid in growth of the confectionery market over the forecast period. Increasing health awareness coupled with the detrimental effects of excess consumption of sugar has affected the growth of sugar confectionery market. Thus, manufacturers of sugar confectioneries are launching organic products with health benefits. For instance, the Golia from Perfetti Van Melle is focusing on offering herbal and medicated products to the health conscious products. Gum is expected to be the fastest growing segment over the forecast period owing to new health beneficial product development from the manufacturers.
Moreover, the increasing environmental awareness is expected to drive the need for green label products. Thus, products with ethical sourcing and sustainability practices is anticipated to drive the confectionery growth in future. The market is characterized by the presence of well-established players such as Ferrero and Nestle. Increasing penetration and availability of foreign brands is projected to drive the confectionery sector further. Increase in promotion activities of such healthy confectioneries in retail is expected to increase in sale of confectionery over the study period.
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Hexa Research has segmented the Italy confectionery market report based on type:
Segmentation by type, 2015 - 2025 (USD Billion)
• Sugar confectionery
Key players analyzed:
• Perfetti Van Melle
• Leaf Italia
• Ferrero SpA
• Nestlé S.A.
• Venchi S.p.A.