Global Liquor Confectionery Market Overview
Liquor Confectionery Market Size was estimated at 171.18 (USD Billion) in 2022. The Liquor Confectionery Industry is expected to grow from 178.09(USD Billion) in 2023 to 254.5 (USD Billion) by 2032. The Liquor Confectionery Market CAGR (growth rate) is expected to be around 4.04% during the forecast period (2024 - 2032).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Liquor Confectionery Market Trends Highlighted
The global liquor confectionery market is characterized by a growing consumer preference for premium and artisanal products, as well as a rising demand for sugar-free and low-calorie options. Consumers are increasingly seeking out unique and sophisticated flavor profiles, leading to the emergence of innovative and experimental varieties. The market is also driven by the increasing popularity of craft cocktails and mixology, as consumers experiment with new and creative ways to enjoy liquor-infused treats.Key market drivers include the growing popularity and demand for convenient and indulgent treats. Opportunities for growth lie in the exploration of new flavor combinations and formats, as well as the development of products that cater to specific dietary needs and preferences. Recent trends include the rise of sugar-free and low-calorie options, as well as the increasing popularity of liquor-infused gummies and chews. The market is also expected to benefit from the growing trend towards premiumization and the increasing demand for customized and personalized products.
The global liquor confectionery market is characterized by a growing consumer preference for premium and artisanal products, as well as a rising demand for sugar-free and low-calorie options. Consumers are increasingly seeking out unique and sophisticated flavor profiles, leading to the emergence of innovative and experimental varieties. The market is also driven by the increasing popularity of craft cocktails and mixology, as consumers experiment with new and creative ways to enjoy liquor-infused treats.Key market drivers include the growing popularity of home entertaining and the increasing demand for convenient and indulgent treats. Opportunities for growth lie in the exploration of new flavor combinations and formats, as well as the development of products that cater to specific dietary needs and preferences. Recent trends include the rise of sugar-free and low-calorie options, as well as the increasing popularity of liquor-infused gummies and chews. The market is also expected to benefit from the growing trend towards premiumization and the increasing demand for customized and personalized products.
Liquor Confectionery Market Drivers
Rising Demand for Premium and Artisanal Products
The main market growth drivers include the increasing consumer need for premium and artisanal liquor confectionery. To illustrate, many individuals nowadays look for luxurious, unique, and tasty delicacies that could satisfy their inner wishes for something special. This tendency is facilitated by the growing disposable incomes, increased brand exposure, and escalated appeal to artisanal production. Such needs are met by diverse manufacturers that offer a plethora of premium and artisanal liquor confectionery items for consumers.These products include whiskey, rum, and brandy chocolates, tequila and cognac truffles, and vodka gummies, as well as gin and tonic, mojito, pina colada, and prosecco caramels. Being regarded as exorbitant luxury items sold at increased prices, these liquor confectioneries contribute towards the overall growth of the Global Liquor Confectionery Market Industry.
Increasing Popularity of Online Sales Channels
The dynamics through which the Global Liquor Confectionery Market Industry is impacted is that there has been an increase in e-commerce. This offers online sales channels that make liquor confectionery more convenient and accessible. For example, consumers can buy liquor confectionery products from their homes. This means that there are no more local trends for consumers to follow, but they can access liquor confectionery products through the Internet.The use of this element drives consumer adoption and makes it more accessible. Furthermore, there will be an evident increase in these sales channels in the future because consumers are more likely to access the Internet.
Product Innovation and New Flavor Profiles
Manufacturers in the Global Liquor Confectionery Market Industry are not leaving any stone unturned as far as meeting the needs and expectations of customers are concerned. Because tastes and preferences keep on changing, manufacturers are introducing avenues and approaches through which new products can be brought into the market. This is the reason why liquor confectionery that is made from exotic fruits, spices and herbs for easy recognition is slowly becoming popular.The manufacturers are re-creating long-term confectionery with the hope that new and memorable tastes will be created. As such, the most recognized avenue is product innovation.
Liquor Confectionery Market Segment Insights
Liquor Confectionery Market Product Type Insights
The Global Liquor Confectionery Market segmentation by Product Type consists of Chocolates, Hard Candies, Gummies, Caramels, and Toffees. The Product Type segment is led by Chocolates, and it is anticipated to lead throughout the forecast period. The increasing preference for dark chocolate and the growing health consciousness among consumers is driving the growth of the segment. Hard Candies are another substantial segment owing to their longer shelf life and ease of carry. The gummies segment is in its growth phase with its colorful attractive candies in the form of fruits appealing to both children and adults.The Caramels are a significant segment, accounting for a significant share due to their rich texture and creamy taste. The Toffees is in its growth phase, with its soft chew stickiness and butter-like taste accounting for its growing preference among consumers. The growth is majorly attributed to the increasing disposable income, changing customer purchase patterns, and the rapid growth of organized retail.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Liquor Confectionery Market Alcohol Content Insights
The Alcoholic, Non-Alcoholic, and Low-Alcoholic are the Alcohol Content segments of the Global Liquor Confectionery Market. In 2023, the Alcoholic segment accounted for more than half, at 60.2%, of this market and was projected to persist throughout the forecast period, thereby encouraging growth in that area. The Non-Alcoholic part will experience a steady increase due to the growing trend towards sugar-free and low-calorie confectioneries consumption. Meanwhile, slow growth is expected in the Low-Alcoholic section as alcohol levels keep falling, with customers preferring less alcoholic content levels in their products.
Liquor Confectionery Market Distribution Channel Insights
Supermarkets and hypermarkets dominated the Global Liquor Confectionery Market distribution channel in 2023, accounting for over 50% of the market revenue. These channels offer a wide variety of liquor confectionery products and convenience to consumers. Confectionery stores followed, capturing a significant share due to their specialization in candy and chocolate products. Convenience stores are also gaining popularity, driven by their extended hours and accessibility. Online retail is projected to be the fastest-growing distribution channel, with a CAGR of over 7% during 2023-2032.The growth of e-commerce platforms and the convenience of home delivery are contributing to this trend. Duty-free shops play a crucial role in the distribution of liquor confectionery in travel retail, catering to international travelers.
Liquor Confectionery Market Price Range Insights
The Global Liquor Confectionery Market segmentation by Price Range into 'Economy', 'Mid-Range', and 'Premium' offers valuable insights into the market dynamics. In 2023, the 'Economy' segment held a significant market share of around 38.5%, driven by the increasing popularity of value-for-money products among budget-conscious consumers. The 'Mid-Range' segment is projected to witness steady growth over the forecast period, accounting for a market share of approximately 42.7% in 2024. This growth is attributed to the rising demand for premium quality products at an affordable price point.The 'Premium' segment, catering to consumers seeking luxury and exclusivity, is expected to expand at a CAGR of 4.8% during the forecast period, reaching a market valuation of approximately USD 67.2 billion by 2032. This growth is fueled by the increasing demand for premium chocolate and gourmet confectionery products among affluent consumers.
Liquor Confectionery Market Packaging Type Insights
The Packaging Type segment of the Global Liquor Confectionery Market is expected to exhibit steady growth over the forecast period. Among the various packaging types, bags and pouches are anticipated to hold a significant market share due to their cost-effectiveness and convenience for on-the-go consumption. For instance, in 2023, the Global Liquor Confectionery Market revenue generated from bags and pouches was valued at approximately USD 18.5 billion. Boxes and tins are also widely used for packaging liquor confectionery, offering protection and enhancing the premium appeal of the product.Gift baskets, often adorned with decorative elements, are gaining popularity as a gifting option, further driving the growth of this segment. The increasing demand for premium and customized packaging solutions is expected to propel the growth of the overall Packaging Type segment in the Global Liquor Confectionery Market.
Liquor Confectionery Market Regional Insights
The regional segmentation of the Global Liquor Confectionery Market offers valuable insights into the geographic distribution of market growth and opportunities. North America, Europe, APAC, South America, and MEA are the key regions analyzed in this segment. North America holds a significant market share due to factors such as rising disposable income and growing consumer preference for premium chocolates. Europe is another major market, with countries like Germany, the United Kingdom, and France being key contributors. The APAC region is expected to witness substantial market growth in the coming years, driven by increasing urbanization and changing consumer lifestyles.South America and MEA are also emerging markets with untapped potential for liquor confectionery products. Various factors, including population size, economic conditions, cultural preferences, and the presence of local manufacturers and international brands, influence the market growth in these regions. By understanding the regional dynamics and specific market characteristics, businesses can tailor their strategies to target specific markets and capitalize on growth opportunities.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Liquor Confectionery Market Key Players And Competitive Insights
Leading players in the Liquor Confectionery Market industry are continuously working on preserving their position. Major companies are mainly involved in implementing strategies such as new product development, expansion, and acquisition. Leading Liquor Confectionery Market players such as Nestle, Mars, and Mondelez International are focusing on developing new flavors and formats for existing products as well as for new categories. The Liquor Confectionery Market Competitive Landscape is highly fragmented due to several thousand regional and local players. However, global companies continue to hold larger market shares.Mars, Inc.Mars, Inc. is one of the prominent competitors in the Liquor Confectionery Market. Mars is a globally operating food, confectionery, and pet food company. It is headquartered in McLean, Virginia, United States. The company's Liquor Confectionery Market includes large products under the M's, Snickers, and Twix brands. The products also include products comparable to traditional chocolate that do not contain alcohol. Mars actively operates in the domestic and foreign markets and focuses on the development and support of its distribution network and effective advertising.Mondelez International, Inc.Another key company in the Liquor Confectionery Market and one of the main competitors of the considered company is Mondelez International, Inc. Mondelez International is an American snack food and beverage company. It is headquartered in Chicago, Illinois, United States. The company's Liquor Confectionery Market includes known brands of products such as Cadbury, Oreo, and Toblerone. In addition to the US, the company operates in other important foreign markets, including India, the UK, Brazil, China, Russia, Germany and Spain. Like Mars, Mondelez International is trying to expand into emerging markets. The company operates a developed and costly distribution system and is known for its high-quality products.Reference ListGlobal Liquor Confectionery Market 2019 – Ferrara Candy, Sweet Scent, Sonomajewelz, Nestle, Frankford 2019ennessee. 2019. Web.
Key Companies in the Liquor Confectionery Market Include
- Katjes
- SweetWorks
- Morinaga
- Ferrero
- Cloetta
- Haribo
- Fazer
- Nestle
- Perfetti Van Melle
- Mars
- Mondelez International
- Meiji
- Leaf Brands
- Arcor
- Lotte
Liquor Confectionery Market Industry Developments
The global liquor confectionery market is projected to reach USD 254.5 billion by 2032, exhibiting a CAGR of 4.04% from 2024 to 2032. The increasing popularity of premium and luxury chocolate products, coupled with the growing demand for functional and sugar-free confectionery, is driving market growth. Key industry participants are focusing on product innovation and strategic partnerships to expand their market presence. Recent news developments include the acquisition of Cloetta by Cargill in 2022, strengthening Cargill's position in the European confectionery market. Mondelez International's investment in sustainable cocoa sourcing highlights the industry's commitment to ethical and environmentally friendly practices. Furthermore, the rise of e-commerce platforms and the growing trend of online shopping are creating new opportunities for market expansion.
Liquor Confectionery Market Segmentation Insights
-
Liquor Confectionery Market Product Type Outlook
- Chocolates
- Hard Candies
- Gummies
- Caramels
- Toffees
-
Liquor Confectionery Market Alcohol Content Outlook
- Alcoholic
- Non-Alcoholic
- Low-Alcoholic
-
Liquor Confectionery Market Distribution Channel Outlook
- Supermarkets and Hypermarkets
- Confectionery Stores
- Convenience Stores
- Online Retail
- Duty-Free Shops
-
Liquor Confectionery Market Price Range Outlook
- Economy
- Mid-Range
- Premium
-
Liquor Confectionery Market Packaging Type Outlook
- Bags and Pouches
- Boxes
- Tins
- Gift Baskets
-
Liquor Confectionery Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
171.18(USD Billion) |
| Market Size 2023 |
178.09(USD Billion) |
| Market Size 2032 |
254.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.04% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Katjes, SweetWorks, Morinaga, Ferrero, Cloetta, Haribo, Fazer, Nestle, Perfetti Van Melle, Mars, Mondelez International, Meiji, Leaf Brands, Arcor, Lotte |
| Segments Covered |
Product Type, Alcohol Content, Distribution Channel, Price Range, Packaging Type, Regional |
| Key Market Opportunities |
1 Growing demand for premium and artisanal products2 Expanding ecommerce and online distribution channels3 Rising popularity of sugar-free and low-calorie options4 Emergence of innovative flavors and packaging formats5 Health and wellness trends driving demand for functional confections |
| Key Market Dynamics |
1 Changing Consumer Preferences2 Rising Demand for Premium Products3 Growing Popularity of Online Sales4 Increased Health Consciousness5 Technological Advancements |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global liquor confectionery market size was valued at USD 178.09 billion in 2023 and is projected to reach USD 254.5 billion by 2032, exhibiting a CAGR of 4.04% during the forecast period of 2024-2032.
North America is expected to dominate the global liquor confectionery market throughout the forecast period. The region's large consumer base, high disposable income, and established distribution channels contribute to its dominance.
The growth of the global liquor confectionery market is primarily driven by rising consumer demand for premium and indulgent treats, increasing urbanization, and the expansion of the retail sector in emerging economies.
Chocolate confectionery and sugar confectionery are the two main applications of liquor confectionery, with chocolate confectionery holding the larger market share due to its popularity as a dessert and snacking option.
The global liquor confectionery market is highly competitive, with major players including Mondelez International, Mars, Inc., Nestle S.A., Perfetti Van Melle, and Hershey Company. These companies invest heavily in product innovation, marketing, and distribution to maintain their market position.
The global liquor confectionery market is witnessing several emerging trends, such as the growing demand for sugar-free and low-calorie products, the rise of e-commerce, and the increasing popularity of craft and artisanal confectionery.
The global liquor confectionery market faces challenges such as rising raw material costs, intense competition, and changing consumer preferences. Health concerns and the increasing popularity of healthier snacking options also pose challenges to the industry.
The global liquor confectionery market is expected to Register a CAGR of 4.04% from 2023 to 2032.
The key factors driving the growth of the global liquor confectionery market include rising disposable income, increasing urbanization, growing consumer demand for premium and indulgent treats, and the expansion of the retail sector in emerging economies.
The key challenges facing the global liquor confectionery market include rising raw material costs, intense competition, changing consumer preferences, health concerns, and the increasing popularity of healthier snacking options.
