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Confectionery
Sweets are never out of season. It seems occasions for indulgence are around every bend and with the pandemic curtailing larger indulgences for many, premium confections offered small comforts.
Fortune Business Insights noted that the global confectionery market is projected to grow from $194.37 billion in 2021 to $242.53 billion in 2028 at a CAGR of 3.8% in forecast period, with the sudden rise in CAGR attributed to demand and growth returning to pre-pandemic levels.
This said, consumers desire healthy alternatives that include sugar reductions, natural flavors and colors, and transparent supply chains, particularly in the chocolate market.
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