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Global Sugar Confectionery Market to Reach $63 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Sugar Confectionery estimated at US$46.9 Billion in the year 2020, is projected to reach a revised size of US$63 Billion by 2027, growing at a CAGR of 4.3% over the analysis period 2020-2027. Hard-Boiled Sweets, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$19.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Gums & Jellies segment is readjusted to a revised 4.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $12.9 Billion, While China is Forecast to Grow at 7.3% CAGR
The Sugar Confectionery market in the U.S. is estimated at US$12.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$12.5 Billion by the year 2027 trailing a CAGR of 7.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$8.1 Billion by the year 2027.



Caramels & Toffees Segment to Record 5% CAGR
In the global Caramels & Toffees segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.4 Billion in the year 2020 will reach a projected size of US$10.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 5.4% CAGR through the analysis period.