Spanish confectionery market driven by the chocolate and sugar sectors

Press Release   •   Jul 24, 2013 09:22 BST

The Spanish confectionery market has been forecast to increase at a compound annual growth rate (CAGR) of 2.28% over the next five years, increasing from a volume of 260 million Kg at the start of 2012, to reach a total of just under 300 million Kg by 2017.

The confectionery market is relatively insensitive to economic fluctuations and shows stable growth that is driven primarily by population trends and price increases.

Growth takes places almost exclusively through the development of existing strong confectionery brands. During the recession, however, private labels gained market shares, primarily in the chocolate confectionery segment.

In terms of categories, 'Chocolate' is forecast to continue as the largest sector in the industry, and will hit a volume of just under 150 million Kg by 2017.

In the midst of the economic crisis, chocolate confectionery showed substantial strength, taking into account the damage suffered by packaged food categories that are not part of the family shopping basket. In the context of savings and consumer frugality, the consumption of chocolate managed to maintain a privileged position among consumers.

In 2012, Nestlé once again established itself as the leader of chocolate confectionery with value share of 23%. Its leadership was explained by its privileged position in tablets, the most important segment overall in both volume and value terms. Nestlé managed to retain its share due to the intense promotional activity of its brands Kit Kat, Dolca, or Caja Roja.

The second largest category, 'Sugar Confectionary' will see a volume of around 135 million Kg by 2017.

According to a recent report, 'The Future of the Confectionery Market in Spain to 2017,' the fastest growing category is suggested to be 'Chocolate', which will grow at a CAGR growth rate of over 3% between 2012 and 2017.

The confectionery sector in Spain ranks as the 5th largest confectionery producer in the European Union, with Germany, United Kingdom, France and Italy at the top of the list.

For more information on the Spanish confectionery market, see the latest research: Confectionery Market Research

Follow us on Twitter @CandMResearch issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.