The global impact of covid-19 on confectionery market is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights™ in its latest report published this information. The report is titled “Impact of COVID-19 on Confectionery Market Size, Share, Industry Analysis and Regional Forecast 2019-2026”. The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period. It also offers an exclusive insight into various details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies.
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The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration. The report also provides additional information such as interesting insights, key industry developments, detailed segmentation of the market, list of prominent players operating in the market, and other impact of covid-19 on confectionery market trends. The report is available for sale on the company website.
List of Top 10 Players Covered in the Confectionery Market Report:
• Orion Corp
• Nestlé SA
• Meiji Co. Ltd.
• Ferrero Group
• Ezaki Glico Co. Ltd.
• Chocoladenfabriken Lindt & Sprüngli AG
• The Hershey Company
• Mondelēz International
• Mars, Incorporated
Restrictions on Supermarkets to Impede Market Growth
While local grocery stores in most countries have been mandated to shut down to avoid the congregation of people, supermarkets have been kept open to ensure daily access to essential supplies to people. However, these spaces are being made to follow strict social distancing rules as well as rules to prevent panic- and bulk-buying. For example, customers in certain US states are allowed to shop in a supermarket for only 10 and are prohibited to buy more than 10 items, thereby avoiding unnecessary hoarding. Similarly, Tesco is limiting purchases to only three per customer to ensure that there are enough supplies for everyone. Since the focus of governments is to facilitate supply and distribution of essential food and other items only, such as toilet paper, milk, and vegetables, the demand for confectionery products has plummeted and the global market has been severely affected as a result.
Level of Exposure to Determine Regional Impact of the Pandemic
The COVID-19 outbreak has affected all regions under consideration in this report. The greatest impact, however, is anticipated to be borne by Europe, where the market size stood at USD 76.12 billion in 2019 and the region dominated the confectionery market share at 39%. This is expected because the number of COVID-19 cases is skyrocketing in Europe, with the largest brunt being taken by the strongest economies in the region, namely, the UK, Italy, France, Germany, Spain, and the Netherlands. These countries are also home to some of the largest premium chocolate makers in the world and the region is, therefore, is bound to be gravely affected by the coronavirus pandemic as demand for such items steadily falls. Besides Europe, the market in North America and Asia-Pacific, two of the biggest confectionery products consuming regions in the world, is also likely to be impacted on account of the unceasing rise of cases in these regions.
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Regional Analysis for Impact of COVID-19 on Confectionery Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Contents for Impact of COVID-19 on Confectionery Market:
- Executive Summary
- Market Dynamics
- Key Impact of COVID-19 on Confectionery Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global Impact of COVID-19 on Confectionery Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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