Global Liquor Confectionery Market By Product (Candies & Gums, and Chocolates), By Application (Specialty Stores, Supermarkets/Hypermarkets, and Online), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Liquor Confectionery Market Overview:

In 2021, the global liquor confectionery market was valued at USD 632 million. It is projected to grow by 5% between 2022-2032.

There is a rising demand for liquor confectionery due to changing palates of consumers, especially millennials. The U.K., Belgium, and Germany are among the countries with high levels of liquor consumption. In these countries, chocolates with alcohol are popular. This encourages consumers to experiment with new methods of alcohol consumption. This situation has helped to increase the demand for global markets.

Global Liquor Confectionery Market Analysis:

Product Analysis

2021 saw chocolates lead the global liquor confectionery industry with revenue exceeding US$ 380.1 million. The consumer is attracted to these confectioneries because of their innovative labeling and the different manufacturing methods. Anthon Berg makes fine dark chocolates with cocktails, orange liquor, and high-quality cocoa in miniature bottles.

The forecast period sees gums and candy grow at a rate of 4.2%. Innovative gums and candies from major vendors are expected to be a driving force in this market. To take one example, chocolate is not dissolved in the candies before being placed on top of hard candies containing alcoholic beverages.

Distribution Channel Analysis

Supermarkets/hypermarkets held a significant market share in 2021, which gives the opportunity to pick from many flavored confectioneries. This is possible due to their visibility of various products, easy accessibility, and various discounts. Supermarkets or hypermarkets offer attractive discounts and other offers, such as “buy one get one” to increase liquor chocolate sales.

From 2023 to 2032, the online channel will grow at a rate of 5.1%. The most popular online retailers of liquor confectioneries are Alibaba, Amazon, and Candy Warehouse. For convenience, consumers can access the different varieties online rather than buying them in stores. Solidarno Liqueurs & Vodka prefers online sales of liquor confectionery. They are limited in quantity and distributed mainly in the country where they were made.

Key Market Segments:

By Product

• Candies & Gums
• Chocolates

By Distribution Channel

• Specialty Stores
• Supermarkets/Hypermarkets
• Online

Market Dynamics:

Global market growth is being driven by the high demand for handmade confectioneries with liquor as the main ingredient. Global market growth is due to a rise in liquor confectionery consumption. New product developments and new flavors are expected to increase market growth over the next few years. Abtey, for example, launched four new coulis options that were made from refined alcohol and ganache center with four different varieties of coulis: ganache & rum jelly, ganache & strawberry jelly, mousse & kirsch jelly, ganache, and Cointreau jelly.

Liquor is in high demand in countries like the U.K. and Germany. They are also the major producers of premium chocolates like the Belgian and Swiss chocolates. This in turn increases the market for liquor confectioneries in these European countries. The presence of European chocolate manufacturers means that there is a constant stream of product innovations.

Regional Analysis:

Europe held a 48.7% market share in 2021. This was due to the increase in demand for liquor confectionery from countries like Switzerland and Germany. These products are gaining popularity due to their taste, availability in a variety of flavors, and the practice of eating them on different occasions. European culture has this custom of enjoying these homemade liquor confectioneries at big events, vacations, and celebrations.

Asia Pacific has emerged as the fastest-growing region and is expected to grow at a 5.2% CAGR over the forecast period. This growth can be attributed to increased awareness and changing preferences for alcoholic beverages in confectionery. Because these products can be used for special occasions rather than a heavy alcohol intake, consumers (primarily millennials) are willing to spend more money to try new confectioneries.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Few companies are considering mergers or acquisitions to improve their capabilities and product ranges. Ferrero bought Nestle’s U.S. manufacturing business to make liquor confectioneries. The purchase cost US$ 2.8 million. Barry Callebaut purchased American Almond Products Co. in order to further expand its product line.

Маrkеt Кеу Рlауеrѕ:

• Abtey Chocolate Factory
• Neuhaus
• Mars
• Brookside
• Hershey’s
• Ferrero
• Mondelez
• Toms Gruppen
• Other Key Players

For the Liquor Confectionery Market research study, the following years have been considered to estimate the market size: