Global Nougat Market By Product Type (White Nougat, Brown Nougat, and Other Product Types), Distribution Channel (Hypermarkets & Supermarkets, Confectionary Stores, Company Owned-Websites, E-commerce Websites, and Other Distribution Channels), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the Global Nougat Market was valued at USD 370 million and is expected to reach USD 635.2 Billion in 2032. Between 2023 and 2032, this market is estimated to register a 5.6% CAGR.

Nougat is a confectionery belonging to the Mediterranean region, typically made by mixing sugar, honey, nuts (such as almonds or hazelnuts), and sometimes candied fruits. The prepared mixture is cooked until it reaches a certain consistency, and then it is allowed to cool and harden.

Nougat comes in various forms, such as soft, chewy, hard, and crunchy, which usually depends on the ingredients and cooking process used. It can be enjoyed as a standalone candy or can be used as an ingredient in desserts such as ice cream, cakes, pastries, and more. The combination of its nutty, sugary, and sometimes fruity flavors makes a nougat a popular choice among those with a sweet tooth.

Shifting consumer preferences towards indulgent and gourmet confectionery options has emerged as a significant driver for the growth of the global nougat market. As consumers increasingly seek unique and premium treats, nougat’s rich flavors, diverse textures, and artisanal appeal position it as an attractive choice. This trend is further amplified by the rise in disposable income and the desire for novel culinary experiences, fostering the expansion of the nougat market globally.

Actual Numbers Might Vary in the Final Report.

Key Takeaways

• Market Growth: The Nougat Market was valued at USD 370 million in 2022 and is projected to reach USD 635.2 billion by 2032, representing a substantial growth opportunity in the confectionery industry. Between 2023 and 2032, the market is expected to register a Compound Annual Growth Rate (CAGR) of 5.6%, indicating steady expansion over the next decade.
• Nougat Description: Nougat is a confectionery popular in the Mediterranean region, made from sugar, honey, nuts (such as almonds or hazelnuts), and sometimes candied fruits. It is known for its various forms, including soft, chewy, hard, and crunchy, catering to diverse taste preferences.
• Consumer Preferences: Shifting consumer preferences towards indulgent and gourmet confectionery options is driving the growth of the global nougat market. Its rich flavors, diverse textures, and artisanal appeal make it an attractive choice for those seeking premium treats.
• Product Type Analysis: White Nougat held the largest market share in 2022 (43.0%) due to its versatile flavor and association with gourmet and premium confectionery. Brown Nougat is the fastest-growing segment, known for its rich and distinctive flavors.
• Distribution Channels: Hypermarkets & supermarkets dominated the market in 2022, with a market share of 37.7%. These outlets offer convenience, extensive selection, and competitive pricing, driving nougat sales. Confectionery stores are the fastest-growing segment, providing specialized and curated shopping experiences for premium nougat.
• Drivers: The market is influenced by shifting consumer preferences towards healthier indulgence, as nougat manufacturers respond to this trend by introducing products with lower sugar content and incorporating natural ingredients.
• Snack Industry: The growth of the snack industry complements nougat’s appeal as a convenient yet delectable treat, aligning with the trend of convenience, variety, and indulgence in snacks.
• Restraints: Health and wellness concerns are a challenge for the nougat market due to its association with higher sugar content. Ingredient sourcing and costs are another restraint, as fluctuations in the prices of raw materials can impact production.
• Opportunities: Developing healthier and more functional varieties of nougat to cater to health-conscious consumers is a significant opportunity. Embracing the growing demand for plant-based and vegan options can also expand the market.
• Trends: Innovative flavor infusions and artisanal and handcrafted production techniques are prevailing trends. Consumers seek unique taste experiences, and artisanal practices offer authenticity and a connection to traditional methods.
• Key Regions: The market is segmented into North America, Europe, APAC, Latin America, and the Middle East & Africa, with key players operating in these regions.
• Key Players: Prominent companies in the nougat market include Mars Incorporated, Golden Bonbon, Mondo Nougat, Chabert & Guillot, and others. They focus on product innovation and collaborations to maintain their market presence.

Product Type Analysis

The White Nougat Segment Held the Largest Market Share in 2022 Due to its Versatile Flavor and Luxurious Image.

Based on the product type, the global nougat market is segmented into White Nougat, Brown Nougat, and Other Product Types. Among these product types, the white nougat was the most lucrative globally, with a market share of 43.0% in 2022. The dominance of white nougat can be attributed to its widespread consumer appeal and versatile flavor profiles.

White nougat’s neutral color provides a canvas for incorporating a wide array of ingredients, from dried fruits to exotic spices, enhancing its appeal to a diverse range of taste preferences. This versatility allows manufacturers to innovate and offer new variations, maintaining consumer interest constantly.

Moreover, the perception of white nougat as a gourmet and premium option further bolsters its dominance, White nougat is often associated with artisanal craftsmanship and is commonly featured in high-end confectionery boutiques and specialty stores, which reinforces its premium status and drives consumer interest.

Brown nougat is the fastest-growing segment due to its rich and distinctive flavors of brown nougat, often enriched with roasted nuts, caramelized sugars, and hints of cocoa. This unique blend of flavors appeals to a wide range of consumers seeking robust and complex taste experiences.

Moreover, the rising demand for gluten-free and dairy-free confectionery options has bolstered the brown nougat segment. Several brown nougat variants can be formulated without gluten or dairy, catering to consumers with dietary restrictions.

Distribution Channel Analysis

Based on distribution channels, the global market is segmented into hypermarkets & supermarkets, confectionery stores, company-owned websites, e-commerce websites, and other distribution channels. Among these distribution channels, hypermarkets & supermarkets were the most lucrative in the global nougat market, with a market share of 37.7% in 2022.

This dominance can be attributed to the unparalleled convenience and accessibility they offer to a diverse customer base. These retail giants have extensive networks of stores in urban and suburban areas, making it easy for consumers to find nougat products during their routine shopping trips.

The substantial shelf space and display opportunities in hypermarkets and supermarkets allow for showcasing various nougat brands and flavors. This extensive selection caters to different preferences and encourages impulse purchases, thereby driving sales.

Moreover, the competitive pricing strategies employed by these retail establishments play a significant role in the dominance of this channel. They often offer bulk discounts and promotions, making nougat products more appealing and affordable to shoppers. Additionally, the ability to physically interact with the products, read ingredient labels, and assess packaging quality provides consumers with a level of assurance that online platforms might not offer.

Confectionery stores are the fastest-growing segment. Confectionery stores provide a specialized and curated shopping experience tailored to indulgent treats such as nougat. This focused environment allows for an in-depth exploration of various nougat flavors, brands, and artisanal options that might not be as readily available in more extensive retail settings.

Several confectionery stores’ premium and artisanal positioning resonate with the growing consumer demand for high-quality, unique, handcrafted confectionery products, including nougat. These stores often showcase niche brands and gourmet variants that cater to discerning tastes. Moreover, the knowledgeable and passionate staff in confectionery stores can provide valuable insights, recommendations, and personalized suggestions to consumers, enhancing the overall purchasing experience.

Actual Numbers Might Vary in the Final Report.

Key Market Segments

Based on the Product Type

• White Nougat
• Brown Nougat
• Other Product Types

Based on the Distribution Channel

• Hypermarkets & Supermarkets
• Confectionary Stores
• Company Owned-Websites
• E-commerce Websites
• Other Distribution Channels

Drivers

Shifting Consumer Preferences Towards Healthier Indulgence is Expected to Bolster The Market

The shifting consumer preferences towards healthier indulgence significantly influence the global nougat market. As health awareness grows, consumers seek confectionery options that balance indulgence and nutritional value. Nougat manufacturers are responding to this trend by introducing products with lower sugar content, incorporating natural ingredients such as nuts and fruits, and even exploring alternatives such as sugar-free and organic nougat variants.

This aligns with the demand for treats that provide a satisfying taste experience without compromising health considerations. The surge in interest in clean-label and better-for-you options has catalyzed innovation within the nougat sector, encouraging its growth as health-conscious consumers continue to seek our guilt-free and delicious indulgences.

Growing Snack Industry

The dynamic growth of the snack industry is another significant driver behind the expansion of the global nougat market. As snacking becomes an integral part of modern lifestyles, consumers are seeking diverse and satisfying options. With its blend of flavors, textures, and portability, Nougat aligns perfectly with this trend.

The snack industry’s emphasis on convenience, variety, and indulgence complements nougat’s appeal as a convenient yet delectable treat. Nougat’s potential to cater to both quick snacking needs and luxurious indulgence positions it as a versatile choice. Moreover, strategic collaborations between nougat manufacturers and snack brands leverage the rising snack industry’s distribution channels, further boosting nougat’s accessibility and visibility.

Restraints

Health and Wellness Concerns

The global nougat market is being restrained due to increasing consumer health and wellness concerns. As awareness of the impact of excessive sugar consumption on health grows, many consumers are becoming more cautious about their confectionery choices. Nougat, often associated with higher sugar content, faces challenges in appealing to health-conscious individuals seeking alternatives with lower sugar levels.

Additionally, the perception of nougat as a calorie-dense and less nutritious option compared to other snacks contributed to its struggle to meet health-conscious consumers’ demands. Manufacturers are pressured to reformulate products to reduce sugar content and incorporate healthier ingredients, but these changes might impact traditional nougat textures and flavors.

Ingredient Sourcing and Costs

One another significant restraint impacting the global nougat market is the challenge of ingredient sourcing and associated costs. Nougat production relies on various ingredients, including nuts, honey, and premium flavorings. Fluctuations in the prices of these raw materials can disturb the production process and can also impact the quality of the product.

The demand for high-quality ingredients, such as organic and ethically sourced components, can also increase prices. Global supply chain disruptions, climate-related challenges affecting agricultural outputs, and geological factors can all contribute to ingredients sourcing uncertainties. As a result, manufacturers may struggle to maintain consistent production, pricing, and profit margins. Balancing ingredient quality, cost-efficiency, and sustainability presents a complex challenge for the nougat industry.

Opportunity

Healthier and Functional Varieties

Developing healthier and more functional varieties is a significant opportunity within the global nougat market. As consumers become more conscious of their healthy well-being, there is a rising demand for confectionery products with high nutritional profiles. Manufacturers can capitalize on this trend by incorporating functional ingredients such as adaptogens, superfoods, dried fruits, botanical extracts, and multi-grains to increase their nutritional profile.

By reducing sugar content, using natural sweeteners, and even adding functional elements such as antioxidants or probiotics, manufacturers can cater to health-conscious consumers while maintaining the treat’s appeal. Embracing these innovations allows Nougat to position itself as a guilt-free, on-the-go snack that aligns with modern dietary preferences.

Plant-based and Vegan Options

The market has another promising opportunity to expand by embracing the growing demand for plant-based and vegan options. As more consumers adopt plant-based diets for ethical, environmental, and health reasons, a substantial market for nougat aligns with these preferences.

Nougat recipes, in which animal-derived ingredients, such as dairy & gelatin, are replaced with plant-based alternatives such as nut butter, fruit extracts, agave syrup, and vegan binders, can increase the consumer base. Not only does this cater to the preferences of vegans and vegetarians, but it also attracts health-conscious individuals seeking cleaner, more natural ingredients.

Trends

Flavor Innovation

A prevailing trend in the global nougat market is the exploration of innovative flavor infusions and the creation of experiential nougat varieties. Consumers increasingly seek unique and adventurous taste experiences, driving manufacturers to experiment with an array of exciting flavor profiles.

With its versatile base, Nougat is an ideal canvas for incorporating diverse flavors, ranging from classic combinations such as salted caramel and chocolate hazelnut to exotic inspirations like matcha green tea and tropical fruit blends. This trend captivates consumers’ palates and keeps them engaged and curious about new offerings.

Creative flavor combinations allow nougat producers to cater to different demographics and occasions, whether seasonal releases, limited editions, or personalized assortments. Additionally, incorporating visually striking elements such as vibrant colors, edible glitter, and intricate pattern enhances the visual appeal of nougat, making it a treat for the palate and a feast for the eyes.

Artisanal and Handcrafted Production

A prevailing trend in the global nougat market is the resurgence of artisanal and handcrafted production techniques. Consumers are increasingly drawn to products that offer a sense of authenticity, uniqueness, and a connection to traditional methods. Nougat manufacturers are capitalizing on this trend by embracing artisanal practices that involve carefully selected ingredients, meticulous crafting, and attention to detail.

These processes result in nougat products that exhibit distinct flavors, textures, and visual appeal, setting them apart from their mass-produced counterparts. By embracing artisanal production, the nougat market taps into a nostalgic yearning for genuine craftsmanship, fostering a deeper connection between consumers and their indulgent treats.

Key Regions

• North America
  • The US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia & CIS
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of MEA

Key Players Analysis

Key players in the market include Mars Incorporated, Golden Bonbon, Mondo Nougat, Chabert & Guillot, etc. Key players in the industry have implemented various strategies to maintain their market presence. They focus on product innovation to introduce new and appealing flavors, variations, and packaging formats to attract a broader consumer base.

Collaborations with other confectionery companies and continuous improvement in production processes for consistent quality are common strategies to stay competitive in the nougat market.

Market Key Players

• Mars, Incorporated
• Golden Bonbon
• Mondo Nougat
• Chabert & Guillot
• Golden Boronia Pty Ltd
• Bettenays Margaret River
• Quaranta
• Margaret River Nougat
• Lindt & Sprüngli AG
• The Savanna
• Sugar & Spice
• Walters Nougat
• Other Key Players

Recent Developments

April 2023 – The ISH Company Launched Salmonish Burgers, a New Plant-Based Seafood Alternative.

May 2023 – Mind Blown by The Plant-Based Seafood Co. (“Mind Blown”), the leading brand in plant-based seafood, announced the launch of their new shelf-stable seafood product, Mind Blown Shelf-Stable Sea Scallops.

June 2023 – The Philippines has expanded into the plant-based seafood category with new frozen microalgae-based products enriched with Omega-3.

Report Scope