Kenya Sugar Confectionery Market: Forecast, Trends and Opportunities 2014-2025
The Kenya Sugar Confectionery Market is anticipated to garner $93,220 thousand in 2025, growing at a CAGR of 8.7% during the forecast period 2017-2025.
Portland, United State – March 26, 2018 /MarketersMedia/ —
Sugar confectioneries are sugarbased food products, which are generally consumed as snacks, such as, boiled sweets, marshmallows, toffees, and others. The sugar confectionery products offer a wide range of variety, extending from individually wrapped sweets to sophisticated packaging for luxurious products, and are therefore consumed across all income group.
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The growth of the Kenya sugar confectionery market is attributed to rise in disposable income among the middle-income group. In 2014, the Kenya national disposable income was estimated around $54.2 billion, and it reached approx. $64.8 billion by 2016. In addition, introduction of new flavors & healthy ingredients constantly appeals to an extensive consumer base. Availability of sugar confectionery in diverse category, taste, and price range have increased its popularity across all age and income groups. Moreover, the emergence of gifting sugar confectionery bouquet and growth of the retail industry are expected to boost the demand for sugar confectioneries in the near future. However, increase in health awareness across the nation and surge in incidence of diabetes are projected to hamper the growth.
The market is highly fragmented owing to the presence of numerous global, local, and small vendors. Moreover, low investment cost to enter the industry makes the market highly competitive. The intense competition is generally based on product differentiation, promotion, distribution, quality, and price war.
In 2014, the boiled sweets segment held a dominant position in the Kenya sugar confectionery market. This market dominance is attributed to its high popularity among children, availability of exotic flavors. However, the medicated sweets segment is anticipated to witness a strong growth over other sugar confectioneries.
Kenafric Industries Ltd. dominates the overall Kenya sugar confectionery market. Another leading brand in Kenya sugar confectionery market includes Chupa Chups; whereas the gum segment is dominated by Wrigley.
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Some of the key players operating in this market are Mars, Inc., Mondelez International, Lotte Confectionery Company, Kenafric Industries Ltd., Perfetti Van Melle, Kenya Sweets Limited, HARIBO Dunhills (Pontefract) PLC, Nestle SA, Cadbury Kenya Ltd., Patco Industries Limited, and Kwality Candies & Sweets Ltd.
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Source: MarketersMedia
Release ID: 319878
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