Aarkstore.com - Innovations in Confectionery: Key trends, growth opportunities and emerging markets

Sept. 4, 2009 - PRLog -- Report Overview...

In 2008 the confectionery market in Europe and the US was worth $99.7bn, with a projected compound annual growth rate (CAGR) of 2.9% to 2012. Volume growth is projected at even lower levels, with a CAGR of just 2.3% over the same period. In the West, the confectionery market is mature and well-established with low levels of growth. Growth in the industry will come from the key emerging markets of Eastern Europe and Asia Pacific. Health and premium confectionery continue to provide a number of growth opportunities for manufacturers. Ethical concerns relating to food production, working conditions and wages are also having an impact on new product development (NPD) with an increased focus on Fairtrade and organic confectionery introductions.

‘Innovations in Confectionery: Key trends, growth opportunities and emerging markets’ is a report published by Business Insights that evaluates which regions, countries and products are expected to grow in the confectionery market over the next five years. This report provides an understanding of underlying consumer purchasing triggers as well as an in-depth analysis of NPD to assess current and future trends in the confectionery market.

Key Findings...

Cereal bars are the fastest growing category in Europe with growth forecast at 31.7% to 2012, driven by consumer demand for healthy food and drinks.

Chocolate is the largest confectionery category in both the EU and US, with a 51.2% of the European confectionery market (worth $34.8bn in 2008) and with a 50.9% share in the US equating to $18.4bn in 2008.

Between 2005 and 2008 the share of new product introductions claiming to be ethical has risen significantly. 4.0% of all new product introductions in 2008 carried the organic tag compared with just 1.2% in 2005.

The ‘Upscale’ product tag was the number one product tag used on confectionery products in 2008 with the share of products launched using this tag rising steadily from 9.0% in 2005 to 13.8% in 2008.

Use this report to...

• Predict future growth areas in confectionery based on this report’s forecasts to 2012 of market value by category and sub-category in Europe, North America and Asia-Pacific.
• Identify key trends that are shaping the confectionery market and examine the key market drivers to 2012 detailing trends in innovation, flavor and product tags.
• Improve the targeting and effectiveness of your NPD strategy using this report’s analysis of products launch data of over 15,000 product launched between 2005-2008.
• Discover the impact of consumer purchasing drivers and regulation on the confectionery market and examine the most innovative products launched and areas of opportunity for manufacturers.

Key issues...

Emerging markets. Growth in the confectionery market will largely take place in the emerging markets. Turkey will be the highest growth market, followed by Croatia and Russia which are forecast to grow by more the 25% to 2012.

Natural. Consumer demand for products that are free-from artificial colors, flavors and additives and concern over the long term effects of artificial ingredients has driven growth in the confectionery industry.

Heritage and provenance. For chocolate manufacturers a key growth opportunity is for premiumization through either high quality country of origin (or even single estate) ingredients or by focusing on the quality of production methods.

Healthy and functional confectionery. Health continues to be key innovation opportunity for confectionery managers in line with an ageing population and an obesity epidemic.

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http://www.aarkstore.com/reports/Innovations-in-Confectio...
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