According to Future Market Insights (FMI), the global liquor confectionery market is expected to reach US$ 580 million in 2022. The market value would reach US$ 981.4 Mn by 2032, increasing at a CAGR of 5.4 percent.
New product introductions of various flavored chocolates, candies, and gums are expected to have a favorable impact on market growth. Abtey, for example, has created a new line of items made with refined alcohol and ganache centers.
Ganache and Cointreau jelly, ganache and rum jelly, mousse and kirsch jelly, and ganache and strawberry jelly are the four new coulis variations. Such innovations are projected to generate market growth prospects.
In addition, the market is expected to be driven by rising demand for luxury liquor chocolates for gifting and serving as desserts at social gatherings in the future years.
Furthermore, manufacturers are introducing their products through online retail channels to achieve a competitive advantage, owing to the growing desire for online retail. This has also led to the high availability of liquor candy in several developing countries, boosting the market growth.
Important Takeaways:
- Germany is expected to dominate the European market for liquor confectionery. In 2022, Europe’s total demand will account for 30% of the global market share.
- Over the forecast period, the United States will control about 80% of the North American liquor confectionery market.
- In terms of product type, chocolate liquor confectionery is predicted to have the highest market value share in 2022.
- Sales in the indirect segment are expected to stay high over the evaluation period in terms of distribution channels.
Competitive Environment
- Hershey’s
- Ferrero SpA
- Mondelez International
- Toms Gruppen
- Liqueur Fills
