Rising prices of raw materials is expected to have a negative impact on sales growth, with the sector expected to grow at a modest CAGR of over 3% by 2018, according to a new study on ASDReports

Report description overview:
The new report now available on ASDReports, provides an overview of the market, analyzing market data, demographic consumption patterns within the category, and the key trends driving consumption. The report highlights examples of international and Spanish-specific product innovation targeting key consumer needs to give a global context.

The difference:

This report brings together demographic group figures showcasing the number of times consumers of specific ages and gender consume Confectionary, as well as identifying whether these demographic groups “over” consume in the category.
Gain access to unique consumer data, developed from extensive consumption surveys and group
Provides insight into the implications behind the data, and analysis of how the needs will evolve in the short-to-medium term future.

Report highlights:
The Spanish Confectionery market is dominated by the Chocolate category, which accounts for more than half of the overall market by volume. This catergory is driven by the introduction of new flavors and innovations in terms of formulations, shapes, and packaging. With rising health
concerns, dark chocolates have become popular due to their high anti-oxidant properties. There has also been growing demand for sugar-free chocolates among adult consumers. Chocolates are increasingly being seen as a snacking option, particularly as consumers in Spain cut back on out of home consumption and shift towards treating themselves at home. As a result of this, chocolates are forecast to grow at a CAGR of just under 3% by 2018.

There is marginal difference in Confectionery consumption habits among Spanish men and women, with men registering only marginally higher Confectionery occasions than their female counterparts. Men’s over-consumption of Confectionery products can be attributed to busy lifestyles and increased work pressure, causing a desire to create time to relax from work, find fun, and seek new experiences through the consumption of Confectionery products. Moreover, Confectionery is also seen as a quick snacking option in between meals.

Spanish women have higher per capita consumption of Gum compared to men. However, with rising cases of obesity, women are slightly less reliant on Confectionery and are moving to healthier alternatives.