Consumer's scattered needs for either personal consumption or gifting speak volumes for the fragmented competition landscape.
Albany, NY -- (SBWIRE) -- 01/04/2018 -- Sugar confectionary industry in China is facing challenges, as the number of health-conscious consumers increases, however, demand has witnessed steady growth in the recent past according to a new research added to the comprehensive repository of Market Research Hub (MRH). The report titled "Sugar Confectionery - China - December 2017" offers detailed insights and analysis on the likely future prospects of the China sugar confectionary industry. According to the report, the industry has shown a positive recovery in 2017, and the recovery can instill a sense of confidence which was lacking among stakeholders, especially as health and wellness trends drive demand for low-sugar snacks. The report further projects that international brands are steadily gaining share from local ones, however, the overall market remains fragmented.
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The report offers the market value share of some of the top companies operating in the sugar confectionary market in China. While chewing gum continues to be the leading sugar confectionary in the country, there is a growing emphasis on low-sugar products such as stevia drinks and snacks. The consumers in the country have a high tendency to shift brands, and loyalty for a particular brand continues to remain low, which is further fuelling the fragmentation of the market. Product innovation and ingredient upgrade remain crucial to promoting the sugar confectionary products in the country.
To give stakeholders insights on how consumer behavior affects the growth of the market, the report offer segmentation on four types of consumers. This segmentation will give stakeholders credible insights on how different sets of consumer behavior leads to demand for different products in the sugar confectionary market. Stakeholders can feed the insights from the consumer segmentation analysis to cater to a broad range of demographics.
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According to the report, the blurring of perceptions towards snacks and confectionary is likely to create opportunities and challenges for key players in the market. Companies operating in the market are likely to focus their attention on making confectionary a comfort food. Functional candy is an example of a comfort food which has gained popularity among consumers in China. To capitalize on the demand from millennials and youth segment, which are the key demographics for confectionary manufacturers, sharing packs are being launched in the market. The diverse need for gifting among the youth is also being looked upon as an opportunity by manufacturers, as gifting confectionary items has long remained a tradition in China. In addition to these insights, the report also offers a detailed analysis of the strategies of key players in the China market.
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