The global liquor confectionery market is projected to reach US$ 580 Mn in 2022, finds Future Market Insights (FMI) in a latest market analysis. With sales growing at a 5.4% CAGR, the market valuation will reach US$ 981.4 Mn by 2032.
New product launches with different flavoured chocolates, candies and gums are anticipated to positively influence the growth of the market. For instance, Abtey has introduced a new range of products that are prepared from refined alcohol and ganache centres.
The four new variants of coulis including ganache and Cointreau jelly, ganache and rum jelly, mousse and kirsch jelly, and ganache and strawberry jelly. Such developments are expected to create opportunities for growth in the market.
Further, increasing demand for premium liquor chocolates for gifting purposes and for serving as desserts at social gatherings is anticipated to drive the market in the forthcoming years.
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In addition to this, due to growing preference for online retail, manufacturers are launching their products at online retail channels to gain a competitive edge. This has also resulted in high availability of liquor confectionery in various developing countries, thereby augmenting the growth in the market.
“Growing preference for premium liquor-based chocolates across the globe, along with surging demand for liquor cocktail gummies will continue steering the growth in the market over the forecast period,” says an FMI analyst.
Global Liquor Confectionery Market by Category
By Product Type:
By Distribution Channel:
- Convenience Stores
- Specialty Stores
- Independent Retailers
- Online Retailers
Read more of the latest industry news and developments here: April 2022 Single Issue form – International Confectionery Magazine (in-confectionery.com)