Global Confectionery Market To Increase 3.2% By 2022

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Portland, OR — Worldwide confectionery sales are anticipated to increase 3.2 percent, compounded annually, by 2022, with Asia-Pacific taking a leading position during the forecast period, according to Allied Market Research.

Gains in the market are expected to be driven by increasing disposable income for consumers in developing regions, shifts in trends toward gifting candy items, consistent R&D activities by manufacturers, and emphasis on promotional activities and social media, the research firm reports.

Continuing cost increases for raw materials have potential to hamper some of this growth, according to Allied Market Research.

The Asia-Pacific market is expected to increase 4.2 percent, in terms of value, while the India market will have the highest compound annual growth rate, estimate to reach 5.1 percent.