The liquor confectionery market size is projected to be valued at US$ 603.0 million in 2023 and is expected to rise to US$ 1,002.0 million by 2033. The sales of liquor confectionery are projected to expand at a significant CAGR of 5.0% during the forecast period.
New product launches with different flavoured chocolates, candies and gums are anticipated to positively influence the growth of the market. For instance, Abtey has introduced a new range of products that are prepared from refined alcohol and ganache centres.
The four new variants of coulis including ganache and Cointreau jelly, ganache and rum jelly, mousse and kirsch jelly, and ganache and strawberry jelly. Such developments are expected to create opportunities for growth in the market.
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.
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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
-
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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
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