Factors influencing the global sugar confectionery industry include a growing inclination to gift confectionery products and investments by market players in promotional activities.

Valeo Foods is set to buy United Kingdom-based Tangerine Confectionery from private equity firm Blackstone Group for $127.6 million, according to media reports.

Nestlé New Zealand plans to offload its sugar confectionery brands to focus on business in the chocolate, baking and medicated lozenge categories.

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.