Confectionery Market to Exceed USD 299 Billion by 2031 Fueled by Rising Consumption Across Asia-Pacific, Reports Mordor Intelligence
Confectionery market growth is supported by rising disposable income, expanding premium chocolate consumption, increasing gifting demand, and strong product innovation, with Asia-Pacific emerging as the fastest-growing regional segment during the forecast period.
Hyderabad, Feb. 16, 2026 (GLOBE NEWSWIRE) — According to the latest report by Mordor Intelligence, the confectionery market size stood at USD 227.58 billion in 2026 and is projected to reach USD 299.18 billion by 2031, expanding at a CAGR of 5.62%. Market growth is being shaped by cocoa price volatility, rising demand for premium gifting products, and regulatory pressure to reduce sugar content and improve sourcing transparency. Although cocoa futures have recently softened, long-term supply risks persist due to aging cocoa plantations in West Africa and ongoing climate variability. In response, confectionery manufacturers are shifting toward value-added strategies such as plant-based dairy alternatives, functional ingredient fortification, and recyclable packaging to protect margins and sustain confectionery market growth.
Confectionery Market Trends and Key Growth Drivers
Premiumization Through Experience and Gifting:
The confectionery industry is shifting from volume-driven sales to high-value revenue concentration. Consumers are increasingly seeking affordable luxuries and experiential products, such as artisanal chocolates with complex textures and curated gift boxes. This trend is particularly dominant in the Middle East and Asia-Pacific, where premium gifting for cultural festivals and micro-moments allows brands to capture a larger confectionery market share by leveraging storytelling and high-end aesthetics.
Health-Conscious Innovation and Sustainability
Functional benefits are becoming a baseline requirement in the confectionery market, as manufacturers reformulate products to address rising diabetes rates and new sugar-reduction regulations. Key confectionery market trends for 2026 include the rise of guilt-free treats such as vitamin-enriched gummies, probiotic-infused candies, and vegan chocolates now linking gut health to holistic wellness. Simultaneously, brands are future-proofing their market positioning by adopting sustainable, paper-based, and mono-material packaging to meet strict environmental mandates while maintaining the portable, on-the-go formats that modern urban lifestyles demand.
Global Confectionery Market Segmentation
By Product Type
- Chocolate
- Sugar Confectionery
- Snack Bar
- Gums
By Packaging Type
- Single-Serve
- Multipack
By Price Tier
- Mass
- Premium
By Distribution Channel
- Supermarket/Hypermarket
- Online Retail Store
- Convenience Store
- Other
For a full breakdown of market dynamics, segmentation insights, regional analysis, and competitive landscape, access the details of the Mordor Intelligence report: https://www.mordorintelligence.com/industry-reports/confectionery-market-industry?utm_source=globenewswire
Confectionery Market Regional Outlook
North America leads in market value, supported by high per-capita consumption, though growth is increasingly driven by premiumization and functional innovation. Asia-Pacific is the fastest-growing region, fueled by rising incomes, localized flavor adaptation, and digital-first retail strategies. Europe maintains a stable demand but faces stricter sugar and sustainability regulations, prompting accelerated reformulation and packaging investments.
Competitive Landscape Balances Scale, Innovation, and Sustainability
The global confectionery industry remains moderately fragmented, with leading multinational players leveraging scale, hedging capabilities, and R&D depth to navigate raw material volatility and regulatory pressure. At the same time, emerging brands are gaining visibility through clean-label positioning, functional differentiation, and digital-first engagement.
Traceability initiatives, plant-based innovation, and ethical sourcing are becoming central to long-term competitiveness, reinforcing the shift from volume-driven expansion to value-led growth strategies.
Key Players in the Confectionery Industry
- Mars Incorporated
- Mondelēz International Inc.
- The Hershey Company
- Nestlé S.A.
- Ferrero International S.A.
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