In 2022, the liquor-flavored market confections is anticipated to reach US$ 580 million. By 2032, the market is expected to reach US$ 981.4 Mn thanks to demand that is expected to grow at a 5.4% CAGR.
It is projected that the introduction of new products with variously flavoured chocolates, sweets, and gums will have a favourable impact on the market’s expansion. For instance, Abtey just unveiled a new line of goods made with refined alcohol and ganache cores.
The four new coulis varieties are ganache and strawberry jelly, rum and kirsch jelly, ganache and Cointreau jelly, and mousse and kirsch jelly. Such changes are predicted to provide up prospects for market expansion.
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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
The report covers exhaustive analysis on:
- What is the current liquor confectionery market value?
- At what rate is the liquor confectionery market expected to grow?
- What strategies are adopted by the market players in the liquor confectionery market?
- What is the share of the top 10 companies in the liquor confectionery market?
- Which are the major countries driving demand for liquor confectionery?
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