15 November 2018, Japan Confectionery Market is expected to be valued at USD 12.27 billion by 2025, driven by an increase in the demand of confectionery food products owing to awareness of positive attributes associated with the chocolate, sugar and gums. Savvy and sophisticated consumers are extremely conscious while making food purchases and are ready to pay premium prices for the products that are made with ethical and good farming practice. This trend is expected to flourish the market of confectionery food products in Japan over the coming years.
Increasing awareness related to the health benefits of chocolates among the Japanese consumer is the key factor expected to driving the growth of the market in the projected period. Japanese people are more health conscious and prefer healthy products. Cocao is the fine blend of minerals such as iron, calcium and magnesium which helps in reducing obesity, cancer, fat deposition in arteries, blood pressure, as well as minimizes stress and is also effective in allergy. Confectionary manufacturers are introducing new products and flavor is expected to provide significant growth opportunity in the market over the forecast period. For instance, in 2011, around 200 - 250 new products were launched in Japan.
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About 50% of Japanese consumers choose sugar or chocolate confectionery foods as a snack for an afternoon refreshment between lunch and dinner. Products that offers good taste along with health advantage are preferred on a major scale. Items that provide advantage, such as white teeth, fresh breath, etc. are more favored by young adults. However, rising obesity issues among children within age range of 9 - 17 years and increasing number of health-conscious people is expected to hamper the confectionery market in Japan.
In terms of types, chocolate confectionary dominated the market is projected maintain its leading position throughout the forecast period. Followed by chocolate, sugar confectionary and gum held major market share in 2017. Seasonal chocolate confectionery has been doing well in this market and is expected to show the similar trend over the foreseeable future. However, high cost of seasonal chocolate products is expected to have impact on growth in comparison with other less expensive confectionery products. Furthermore, easy sharing and consumption ability of sugar confectionery products such as jellies, gums, and chews are expected to hinder the growth of chocolate confectionery in the next coming years.
Concerned food manufacturers with good market competition are coming up with new strategies, new technology and product diversification. It is anticipated that, manufacturers will have to come up with innovative ways in order to retain more and more customer. For instance, Nestlé opened a Kit-Kat retail store in Tokyo in the year 2014 which was a success for the brand. The key companies in the Japanese confectionery market includes Lotte Group, Meiji Holdings Co. Ltd., Morinaga & Co. Ltd., Mondelez International Inc., Asahi Group Holdings Ltd. Meiji Holdings is expected to account for a maximum market revenue share of about 20%.
Hexa Research has segmented the Japan confectionery market report based on food type and distribution channel
Segmentation by Food Type
Segmentation by Distribution Channel
Key players analyzed:
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