In 2023, the liquor-flavored market confections is anticipated to reach US$ 603.0 million. By 2033, the market is expected to reach US$ 1,002.0 million thanks to demand that is expected to grow at a 5.0% CAGR.
The introduction of new items with variously flavoured chocolates, sweets, and gums is expected to have a positive impact on the market’s expansion. Abtey, for example, has lately released a new line of items produced with refined alcohol and ganache cores.
Ganache and strawberry jelly, rum and kirsch jelly, ganache and Cointreau jelly, and mousse and kirsch jelly are the four new coulis flavours. Such adjustments are expected to provide new opportunities 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.
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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