New York — Worldwide sales for chocolate, candy, gum and mints are expected to witness a compound annual growth rate (CAGR) of 2.2 percent through 2027, according to ReportLinker.com.
The chocolate segment is anticipated to slightly outpace the market during the forecast period, with a projected CAGR of 2.5 percent, according to the market research company, which expects the segment’s value to reach $110.5 billion during the period. In the coming seven years, non-chocolate sales are estimated to increase 2 percent.
During the forecast period, sales in China are expected to grow 4.2 percent, while Canada and German markets are anticipated to see growth below 1 percent. The Japanese confectionery market is projected to see a 1.6 percent growth rate.