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1、 Global - Confectionery 0199 - 0710 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 1 MarketLine Industry Profile Global Confectionery November 2012 Reference Code: 0199-0710 Publication Date: November 2012 WWW.MARKETLINE.COM MARKETLINE. THIS PROFILE IS A LIC
2、ENSED PRODUCT AND IS NO T TO BE PHOTOCO PIED Global - Confectionery 0199 - 0710 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 2 EXECUTIVE SUMMARY Market value The global confectionery market grew by 3.2% in 2011 to reach a value of $157,640 million. Market
3、value forecast In 2016, the global confectionery market is forecast to have a value of $182,697.1 million, an increase of 15.9% since 2011. Market volume The global confectionery market grew by 2.1% in 2011 to reach a volume of 15,147.7 million kg. Market volume forecast In 2016, the global confecti
4、onery market is forecast to have a volume of 16,711.9 million kg, an increase of 10.3% since 2011. Category segmentation Chocolate is the largest segment of the global confectionery market, accounting for 52.6% of the markets total value. Geography segmentation Europe accounts for 45.2% of the globa
5、l confectionery market value. Market share Mars, Inc. is the leading player in the global confectionery market, generating a 16.8% share of the markets value. Market rivalry The global confectionery market is rather fragmented, with the top four players accounting for 48.1% of the total market value
6、. Global - Confectionery 0199 - 0710 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 3 TABLE OF CONTENTS Executive Summary2 Market value 2 Market value forecast.2 Market volume.2 Market volume forecast .2 Category segmentation2 Geography segmentation 2 Market
7、 share2 Market rivalry .2 Market Overview .7 Market definition7 Market analysis .7 Market Data8 Market value 8 Market volume.9 Market Segmentation .10 Category segmentation10 Geography segmentation 12 Market share13 Market distribution 14 Market Outlook 15 Market value forecast.15 Market volume fore
8、cast .16 Five Forces Analysis 17 Summary 17 Buyer power.18 Supplier power 19 New entrants .20 Threat of substitutes.21 Degree of rivalry22 Leading Companies23 Global - Confectionery 0199 - 0710 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 4 Mars, Incorpora
9、ted .23 Nestl SA .24 Kraft Foods Inc28 The Hershey Company 31 Appendix.34 Methodology 34 Industry associations35 Related MarketLine research35 Global - Confectionery 0199 - 0710 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 5 LIST OF TABLES Table 1: Global
10、confectionery market value: $ million, 200711.8 Table 2: Global confectionery market volume: million kg, 200711 .9 Table 3: Global confectionery market category segmentation: % share, by value, 20072011 10 Table 4: Global confectionery market category segmentation: $ million, 2007-2011 10 Table 5: G
11、lobal confectionery market geography segmentation: $ million, 2011.12 Table 6: Global confectionery market share: % share, by value, 201113 Table 7: Global confectionery market distribution: % share, by value, 2011 14 Table 8: Global confectionery market value forecast: $ million, 201116 .15 Table 9
12、: Global confectionery market volume forecast: million kg, 201116 16 Table 10: Mars, Incorporated: key facts 23 Table 11: Nestl SA: key facts24 Table 12: Nestl SA: key financials ($) .25 Table 13: Nestl SA: key financials (CHF) .26 Table 14: Nestl SA: key financial ratios.26 Table 15: Kraft Foods In
13、c.: key facts .28 Table 16: Kraft Foods Inc.: key financials ($) .29 Table 17: Kraft Foods Inc.: key financial ratios 29 Table 18: The Hershey Company: key facts 31 Table 19: The Hershey Company: key financials ($) 32 Table 20: The Hershey Company: key financial ratios .32 Global - Confectionery 019
14、9 - 0710 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 6 LIST OF FIGURES Figure 1: Global confectionery market value: $ million, 200711 .8 Figure 2: Global confectionery market volume: million kg, 200711 9 Figure 3: Global confectionery market category segm
15、entation: $ million, 2007-2011.11 Figure 4: Global confectionery market geography segmentation: % share, by value, 2011 12 Figure 5: Global confectionery market share: % share, by value, 2011 13 Figure 6: Global confectionery market distribution: % share, by value, 2011 .14 Figure 7: Global confecti
16、onery market value forecast: $ million, 201116 15 Figure 8: Global confectionery market volume forecast: million kg, 201116.16 Figure 9: Forces driving competition in the global confectionery market, 201117 Figure 10: Drivers of buyer power in the global confectionery market, 2011 18 Figure 11: Driv
17、ers of supplier power in the global confectionery market, 2011 19 Figure 12: Factors influencing the likelihood of new entrants in the global confectionery market, 201120 Figure 13: Factors influencing the threat of substitutes in the global confectionery market, 201121 Figure 14: Drivers of degree
18、of rivalry in the global confectionery market, 2011 .22 Figure 15: Nestl SA: revenues although maintaining inventories and engaging in practices such as hedging, can reduce the effect of price volatility. Entry into this market is highly dependent on growth prospects and also on the size of existing
19、 players. Confectionery products are vulnerable to the threat of substitutes, such as savory snacks and fresh fruits, due to low switching costs and consumption patterns in different geographies. The competitive rivalry is deemed as moderate in this market, with branding contributing to a high level
20、 of customer loyalty. Price elasticity and product differentiation play a small part in terms of competitive rivalry in the confectionery market. Global - Confectionery 0199 - 0710 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 18 Buyer power Figure 10: Driv
21、ers of buyer power in the global confectionery market, 2011 SOURCE: MARKETLINE M A R K E T L I N E Globally, the main distribution channels for the confectionery market are supermarkets and hypermarkets, which account for 31% of the market value. Supermarket chains are often able to negotiate very s
22、trongly on price with confectionery producers; this boosts buyer power significantly. Confectionery includes a wide range of product categories, and within each segment, manufacturers have many opportunities to create goods that stand out from the rest (for example, manufacturers may offer sugar fre
23、e cereal bars especially for individuals with diabetes). An increasing number of products have been developed to create healthier alternatives to the existing lines, with substitute versions offering no artificial colors, low sugar, as well as the inclusion of additives such as vitamins. Along with
24、the inherent differences (e.g. taste, ingredients, etc.) between products, manufacturers invest in advertising to build brand identities. Retailers therefore need to respond to consumer demand and the presence of strong differentiation and brand loyalty among consumers leads to a weakening of buyer
25、power. However, most retailers in this market offer a wide variety of foods. As confectionery is only a small part of the retailers total product range, buyer power is increased. Manufacturers and retailers generally exist in very different businesses, with little likelihood of vertical integration.
26、 Overall, buyer power is assessed as moderate, although it can be weaker or stronger in certain countries. Global - Confectionery 0199 - 0710 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 19 Supplier power Figure 11: Drivers of supplier power in the global
27、confectionery market, 2011 SOURCE: MARKETLINE M A R K E T L I N E The key inputs in the confectionery market are ingredients such as sugar, cocoa beans, and their derivatives (cocoa butter, cocoa liquor, or cocoa powder). Suppliers to this market are cocoa farmers and producers of various other raw
28、materials. Cocoa products are differentiated to some extent, and are sold in several grades. Much of the cocoa-based raw material is sourced from countries, such as Cote dIvoire, Ghana, Indonesia and Brazil among others. Furthermore, supplies from other producers within Far Eastern, West African and
29、 South American equatorial regions, and existing inventory in consuming countries, act as an adequate supply buffer. Manufacturers may choose to adopt the fair trade policy, which ensures that farmers receive a fair price for their products, depending on their own organizations ethical policies. Raw
30、 materials like these are bought on commodity markets, and confectionery companies are unlikely to have much control over supplier prices; rather, they use financial techniques such as hedging, in order to reduce the impact of price rises on their own margins. Overall, supplier power is evaluated to
31、 be moderate. Global - Confectionery 0199 - 0710 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 20 New entrants Figure 12: Factors influencing the likelihood of new entrants in the global confectionery market, 2011 SOURCE: MARKETLINE M A R K E T L I N E In o
32、rder to start operations within this market, reasonably high levels of capital are generally required to set up production facilities, as most confectionery products are mass-marketed, and must be manufactured in significant volumes to be profitable. However, it is also possible to enter the market
33、in a small way, for example, by making high- value, low-volume products in a craft process, rather than a mechanized process. There is a threat of entry from private labels, mainly from the large supermarkets, which use their infrastructure and brand name to provide a similar, cheaper alternative to
34、 the existing brand names. However, these products are limited to the supermarkets own store chains and have limited brand recognition in the confectionery market. Many of the existing brands are strong, and consumers may be unwilling to move away from their favorites - this means that it may be dif
35、ficult to persuade retailers to add a new players product to their shelves. Existing players understand the significance of brands associated with the confectionery market and tend to focus on brand expansion for new products, rather than releasing products under new brand names. Kit Kat is one exam
36、ple, as it us ed its recognizable brand name to release similar lines such as Kit Kat Chunky, Kit Kat Cubes and Kit Kat Senses. In countries with poor infrastructure, new entrants must also consider the problems of establishing a good supply chain, if they choose to manufacture their products within
37、 the country. Overall, there is a moderate likelihood of new entrants. Global - Confectionery 0199 - 0710 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 21 Threat of substitutes Figure 13: Factors influencing the threat of substitutes in the global confectio
38、nery market, 2011 SOURCE: MARKETLINE M A R K E T L I N E Most confectionery products are purchased by end-users as snack food. Substitutes thus include savory snacks, fresh fruit, and similar items. For retail buyers, the substitutive goods have some disadvantages in terms of storage: snacks, such a
39、s potato chips, require more shelf space per item than, for example, chocolate bars; fruit is perishable and may need expensive chilled display cabinets, if wastage is to be avoided. Increasing publicity of health hazards, which are linked to poor dietary lifestyles, associated with confectionary pr
40、oducts, may influence the consumers decision prompting them to switch to a more health conscious alternative. For most food retailers, there are negligible switching costs, as they will usually be selling these items in any case. Furthermore, some forms of confectionery are purchased by consumers as
41、 luxury or gift items, rather than quick snacks for personal consumption - in these cases, the substitutes are more varied, and may include certain gift items of similar value. Overall, the threat of substitutes is moderate. Global - Confectionery 0199 - 0710 - 2011 MARKETLINE THIS PROFILE IS A LICE
42、NSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 22 Degree of rivalry Figure 14: Drivers of degree of rivalry in the global confectionery market, 2011 SOURCE: MARKETLINE M A R K E T L I N E The global confectionery market is highly fragmented, with the top four players accounting for 48.1% of the to
43、tal market value. Leading companies have diverse product lines, although food and drink products are central to their business. Such factors protect their margins against local fluctuations. Switching costs for consumers and retailers are low. The threat from private labels, offering a cheaper alter
44、native to branded products, increases during times of economic downturns or slowdowns, as consumers becom e increasingly price-conscious. However, product differentiation, both by inherent characteristics and by strong branding, should allow players to maintain their hold on consumers, and thus weak
45、en rivalry. In a business, where automated, high-volume manufacturing is the norm, capacity increases are relatively easy to implement and fixed costs are high, rivalry is enhanced. Overall, there is a moderate degree of rivalry in this market. Global - Confectionery 0199 - 0710 - 2011 MARKETLINE TH
46、IS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 23 LEADING COMPANIES Mars, Incorporated Table 10: Mars, Incorporated: key facts Head office: 6885 Elm Street, McLean, Virginia 22101, USA Telephone: 1 703 821 4900 Website: SOURCE: COMPANY WEBSITE M A R K E T L I N E Mars primaril
47、y produces and distributes food products worldwide. The company offers chocolates, candies, chewing gums, rice, entrees, sauces, and beverages. Additionally, it provides dog and cat food. The company operates across North America, Europe, Russia and Commonwealth of Independent States countries, Asia
48、 Pacific, Latin America, and Africa, India and Middle East (AIME). The company operates through six business segments: petcare, chocolate, Wrigley, food, drinks and symbioscience. The petcare segment offers a wide range of pet food products. The brands marketed by the segment include Pedigree, Royal
49、 Canin, Whiskas, Kitekat, Banfield, Cesar, Nutro, Sheba, Chappi, Catsan, Frolic, Perfect Fit and Greenies. The company operates 63 manufacturing facilities in this segment. The chocolate segment offers products under the following brand names: M candies under Skittles and Starburst brand names, and mints under the brand names Altoids and Lifesavers. Under this segment, Mars operates 23 manufacturing facilities. The food business segments offerings include rice, entrees, sauces and condiments under a nu