Project report for Confectionery High Boiled Toffee Manufacturing

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Introduction

In India, The growing availability of different varieties of candies, both chocolate and non-chocolate candies, has led to the high demand for candies, fueled by the impulsive purchase behavior of consumers. Sugar confectioneries are food products that are ready for consumption without further preparation. Sugar confectionery includes products such as candies, candied nuts, chewing gum, chocolates, and bubble gum, among others that are made primarily of sugar. Sugar confections are usually consumed as snack food and are prepared by dissolving sugar in water or milk to form a syrup. The mixture is boiled until it reaches the desired concentration or starts to caramelize. Sugar confectioneries are available in a wide variety of textures, from soft and chewy to hard and brittle. Hard boiled candies are the most common kind of sweets popular across the globe. Sugar confectioneries such as sweets and candies are available in wide range of fruit-based flavors such as orange, pineapple, mango, mint, pan, strawberry, and grapes. Today, India has become an attractive destination for investments and several large multinational companies are entering the market. This has resulted in gradual transformation of a commodity market into a branded products market, being dominated by multinational companies.

Market potential & Strategy

Global Confectionery Market size was valued at INR 134,09,906 Crores in 2019, and is expected to reach INR 169,09,190 Crores by 2022, supported by a CAGR of 3.4% during the forecast period 2018 - 2026. Confectionery market comprises array of food products such as chocolates, raw pastes, and various sugar-based products. The Indian confectionery market is worth of Rs 10,000 crore (organized confectionary units), currently growing at 12%, has potential to grow at 15-20?cause the category remains under-penetrated. Consumers have become more conscious about sugar intake and are shifting toward products that offer high nutrition value, thus increasing the demand for sugar-free, organic, and low-calorie products. Demand for confectionery products is increasing day by day. Consumer inclination towards the requirement of healthy chocolate products and other confectioneries is expected to drive the product demand.

India is the major contributor in this region for confectionery consumption. Trend of online shopping is increasing heavily among end users of these countries. Majority of the companies are selling their products through third party e-commerce websites to increase their market reach. Leading players are selling confectionery products through company-owned websites and third-party websites by understanding market demand. Sugar Confectionery market size is projected to witness healthy growth during the forecast timeframe owing to increasing focus of sugar confectionery producers towards investment on promotional activities, advertising campaigns, and social media marketing. Furthermore, surging demand from emerging economies such as India, China, Mexico, and South Africa coupled with growing trend of gifting confectionery products are major factors expected to provide growth opportunities in the sugar confectionery industry over the forecast period.

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