The Confectionery market in China has increased rapidly and is forecast to grow at a CAGR of over 8% by 2018, according to a new study on ASDReports

Tuesday 15 July 2014, Amsterdam

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 market value and volumes to 2018 for China and nine other countries to give a global context and gives examples of international and China-specific product innovation targeting key consumer needs.

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 tracking, qualifying the influence of 20 consumption motivations.
• 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:

Sugar Confectionery dominates the Chinese Confectionery market with over 86% of volume share. This category expected to register relatively modest CAGR growth of over 6% by 2018. It is expected to lose a small, marginal percentage of its market share by 2018 to the fast growing Chocolate category. This is primarily attributed to the rising adoption of Western food habits which is leading to a rise in per capita consumption levels.

A rise in social media usage and innovative marketing techniques are driving Confectionery consumption in China. An increasing desire to create time to relax from work, find fun products, and the desire for new experiences amongst Chinese consumers will increase overall demand for Confectionery products.

China is one of the most attractive Confectionery markets globally due to its large population, despite the fact that China records one of the lowest per capita volume consumption levels, after India.

China is poised for above average growth in the forecast period, mainly due to rising disposable incomes and the increasing desire for western products such as Chocolate and Gum. Strengthening distribution networks, increasing penetration of Western companies, and product innovation are expected to drive volume consumption growth in China.