2013-10-29 16:33:56 - New Food research report from Canadean is now available from Fast Market Research
This report provides a concise overview of the Confectionery market in China. After reading this report, you will understand the size of the market, the economic, demographic, and behavioral trends that will drive evolution, and the leading players companies within the market, allowing you to plan effectively for the future.
Introduction and Landscape
Why was the report written?
This overview of the consumer and market dynamics of the Chinese Confectionery sector allows new entrants and established players companies to gain rapid and comprehensive insight into the current state of the market and identify the key trends which that will drive growth in the coming years.
What is the current market landscape and what is changing?
Steady economic growth across the last decade period 2000-2010 has
resulted in rise in the disposable income, thus increasing the purchasing power of the consumer. Chinese GDP per capita has risen steadily across the years while population growth has stabilized. However an increase in consumption is a positive factor resulting due to higher disposable income.
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What are the key drivers behind recent market changes?
As the Chinese consumers grow better off, they are becoming more selective and will seek out quality chocolate. The quality and taste of Chocolate has become the primary motivation for consumers in China. The qualitative benefits of Dark Chocolate with its rich taste and low sugar and fat content has helped Chocolate increase its sales in China.
What makes this report unique and essential to read?
The report provides the latest, detailed data on dynamics in the Chinese Confectionery market, providing marketers with the essential data to understand their own, and their competitors', position in the market and the information to accurately identify where to compete in the future.
Key Features and Benefits
Analysis of consumer behavior, economic conditions, and demography reveals emerging opportunities in the Confectionery sector.
Key growth categories are highlighted by analyzing the market dynamics of three Confectionery categories: Chocolate, Gum, and Sugar Confectionery.
Market shares are provided for the leading brands across the Chocolate, Gum and Sugar Confectionery categories.
An overview of packaging trends in the Chinese Confectionery sector is provided, including primary packaging material and type, packaging closures, and outer packaging.
Key future trends are highlighted and analysed in order to identify opportunities and threats in the Confectionery sector.
Key Market Issues
As the Chinese consumers grow better off, they are becoming more selective and will seek out quality chocolate. The quality and taste of Chocolate has become the primary motivation for consumers in China. The qualitative benefits of Dark Chocolate with its rich taste and low sugar and fat content has helped Chocolate increase its sales in China. Moreover consumers feel that vitamins, nuts and herbal ingredients within products can help meet their nutritional and energy demands. High purity, diverse taste and hundred percent chocolate varieties are still a favorite choice among high-end consumers.
Increasingly young and urban-based consumers will continue to seek out fun products and those that help them relax, leading to the growth of confectionery products in the country. China has a dynamic and competitive Confectionery market, with less emphasis on seasonal differences in Confectionery consumption. This means that consumers have transformed from purely seeking product functionality to pursuing fun and enjoyment brought by the product.
The importance of Hypermarkets & Supermarkets and Convenience stores is likely to increase as China's growing young and urban population drive the expansion of modern retail chains in the country.
Chinese consumers are seeking products that meet needs they see as being created by their age. Confectionery is seen as a good vehicle for functional ingredients, as such functional gums, vitamin-enriched candies and low-sugar confectionery are one of the key growth drivers of confectionery in China. Xylitol is a popular ingredient for chewing gums, while vitamins can be used in fortified sugar confectionery.
Rising obesity and diabetes among Chinese consumers is driving the increasing popularity of low sugar and sugar-free confectionery in China as consumers are becoming more health conscious. According to a recent publication from "Journal of the American Medical Association" about 11.6% of adults or 114 million people in Chinahad Diabetes in 2013, surpassing the 11.3% in the US. This generates huge scope for manufacturers to cater these people by launching "better for you" products with Sugar Free label touting on the package.
As the consumption of Confectionery products becomes more established among Chinese consumers, there will be greater demand for more varied and novel flavors such as sesame, peanut, coffee, green tea, and liqueur chocolates. In 2012 15% of Confectionery consumption was motivated by the desire to have new or novel experiences, and this behavior is expected to become more widespread. For instance, chocolates such as green tea-flavored Hershey Kisses are growing in popularity as wedding gifts.
Canadean Consulting provides specialist support on commercial, strategic and marketing issues to the international beverage, packaging and liquid food industries. Significant investment has transformed all Canadean�s beverage databases into interactive market analysis tools, geared to clients� annual and strategic business planning cycles. View more research from Canadean at www.fastmr.com/catalog/publishers.aspx?pubid=1028
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