Top Growth Opportunities: Confectionery in Japan

Published: November 2017
No. of Pages: 107
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Top Growth Opportunities: Confectionery in Japan

Summary

Japan ranks fourth amongst the top ten countries in terms of per capita expenditure (in US$ terms). The per capita expenditure on confectionery in US$ terms declined at a CAGR of 3.7% in the last five years. However, it is expected to rebound and grow at a CAGR of 5.0% during 2016-2021.

Japanese confectionery market declined at a CAGR of 4.0% during 2011-2016 from US$12,440.6 Million in 2011 to US$10,153.8 Million in 2016. Rising consumer confidence, boosted by growing disposable income is prompting Japanese to spend more on indulgent treats more frequently, is driving the consumption of confectionery products.

Consequently, the market is forecast to grow at a CAGR of 4.5% during 2016-2021 to reach more than US$12 Billion by 2021.

During the period 2016-2021, the value of the Japanese confectionery market is set to register a CAGR of over 4%. Growth in the Japanese confectionery market is fuelled by consumers’ demand to experiment with new and different flavors, textures and tastes, subsequently driving innovation across categories. A volume CAGR of over 2% is forecast for the five years to 2021, showing that the expansion in the confectionery market will continue to be driven by adding value beyond the products.

Chocolate, the leading value category is expected to grow at a CAGR of about 4.5% during 2016-2021. The rising popularity of chocolate offerings is driven by the increasingly positive perception of chocolate’s associated health benefits. Furthermore, sugar confectionery category is forecast to register the fastest growth at a CAGR of almost 5% during the same period, indicating a demand for new and different flavored sugar-based offerings. On the other hand, gum, the smallest value category is expected to grow at a CAGR of about 3.5% during 2016-2021.

The report "Top Growth Opportunities: Confectionery in Japan", provides recommended actions and detailed analysis of how to target the best growth opportunities for confectionery producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of confectionery markets in Japan through our detailed and robust data, expert insight, and case studies.

In particular, this report provides the following -
- Key consumer demographic groups driving consumption within the Polish market. Improve your consumer targeting by understanding who’s driving the market, what they want, and why.
- A study of market value and volumes over 2011-2016 for Japan, supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period.
- White space analysis, to pinpoint attractive spaces in the market and the key actions to take.
- Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future.
- Examples of international and regional product innovation targeting key consumer needs.

Companies mentioned in this report: Lotte, Meiji, Ezaki Glico, Kit Kat, Aeon, 7-Eleven, Nestle, Mondalez International, Mars Inc.

Scope

- Japan ranks fourth amongst the top ten countries in terms of per capita expenditure (in US$ terms). The per capita expenditure on confectionery in US$ terms declined at a CAGR of 3.7% in the last five years.
- During the period 2016-2021, the value of the Japanese confectionery market is set to register a CAGR of 4.5%. Growth in the Japanese confectionery market is fuelled by consumers’ demand to experiment with new and different flavors, textures and tastes, which is driving innovation across categories
- The perceived benefits of cocoa among Japanese consumers are set to continue to fuel growth in Japan’s domestic confectionery market. Japanese consumers are becoming increasingly aware of the added health benefits consumption of chocolate offerings can have on them, subsequently strengthening growth in the chocolate category.

Reasons to buy

- This report brings together consumer analysis and market data to provide actionable insight into the behavior of Japan's confectionery consumers.
- This is based on GlobalData's unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the Confectionery sector.
- Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.

Published By: GlobalData
Product Code: GlobalData41775


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