The sugar and gum confectionary market often flies under the radar as many products in the market tend to be price-sensitive. The individual units of these products also sell at a very low price. However, recent data shows that these products are popular among all age groups, and across diverse regions as well. Additionally, the familiarity of different ingredients in different regions often make way for more opportunities for market players. Similarly, manufacturing of these products involves relatively much smaller risk and investment. Hence, the sugar and gum confectionary market has rarely witnessed sluggish growth in recent times and continues to impress investors all across the world. Moreover, growing promotions and packaging marketing tactics prove extremely effective in the sugar and gum confectionary market to drive growth.
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Here are some recent developments in the sugar and gum confectionary market:
• Nestlé recently announced the sale of its U.S.-based confectionary subsidiary arm to Ferrero in a deal estimated to be worth US$2.8 bn. The deal would see the two giants in the sugar and gum confectionary market collaborate to bring new innovations in the market. Nestlé is expected to invest the newly raised capital in launching new products across the world.
• A major player in the global sugar and gum confectionary market, Hershey, recently launched a new campaign titled ‘Cocoa for Good’. The new campaign ensures a reliable and smooth supply of cocoa for Hersheys in the near future. Hersheys promised to play a positive role in ensuring solutions for a wide range of economic, social, and environmental challenges in these cocoa-producing regions. The long term sustainable supply of cocoa is expected to drive growth in the sugar and gum confectionary market.
Consumers increasingly demand sophistication and innovation from major players in the sugar and gum confectionary market. In accordance with this trend, key players in the market are expected to launch unique products to cement their position in the market further.
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