Allied Market Research’s recently released global sugar confectionery market report projects sugar confectionery sales will reach $55.594 billion by 2022. The study foresees an estimated CAGR of 3.2 percent between 2016 and 2022. It’s no surprise, then, that key industry players are leaving no stone unturned in tapping the immense potential of the market.
Confectionery manufacturers have adopted competitive pricing methods and innovative marketing campaigns to capture the attention of customers. Not only have they expanded their product offerings, but also ventured into local and international markets to strengthen their presence in the global industry. Moreover, the segment of medicated confectionery has achieved greater value and is poised for significant growth.