The global bakery & confectionary market is expected to grow from $887.82 billion in 2020 to $938.97 billion in 2021 at a compound annual growth rate (CAGR) of 5.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1221.28 billion in 2025 at a CAGR of 7%
Confectionery is sold through one of the broadest spectrums of retail channels of any food product. These channels include supermarkets, grocery stores, mass merchandisers, drugstores, convenience stores, gourmet/specialty stores (including chocolate stores, bulk candy stores, specialty food stores, kitchenware stores, and chains owned by companies that both manufacture and retail chocolate), department stores, health and natural food stores, warehouse clubs, bakeries, coffeehouses and cafés, ethnic markets, movie theaters, kiosks and tobacco stores, card and gift shops, toy stores, office supply stores, florists, transportation terminals, mail-order catalogs, online stores on the Internet, and many others, as well as vending machines and street vendors.