Sugar-free Confectionery Market Overview
Sugar-Free Confectionery Market is expected to Grow at a CAGR over 5.2% from 2023 to 2030
The global sugar-free confectionery market is estimated to expand with impressive CAGR during the forecast period on the back of availability of a wide range of products. The artificial sweeteners are increasingly replacing the traditional sugar as it is considered a healthy alternative to be used in the sugar-free confectioneries. The confectioneries include sweets, candy nuts, candies, chewing gum, chocolates, and others. The availability of these products in the sugar-free nature are attracting to the several age groups. Increasing disposable income coupled with changing eating habits owing to increasing inclination toward healthy food products and its affordability are estimated to benefit the sugar-free confectionery market share in the coming years as well.
Further, the increasing awareness about cholesterol and reducing weight are augmenting the adoption of the sugar-free confectionery, which is propelling growth of the global sugar-free confectionery market. However, the absence of specific taste in the sugar-free confectioneries are hampering its adoption to some extent. Nonetheless, the growing trend of adopting wellness and health activities is resulting in increasing inclination toward sugar-free products, and especially the traditional confectioneries are estimated to offer several growth opportunities for growth during the forecast period.
In addition to these factors, the sugar-free confectioneries are one of the recent trends in the overall food and confectionery market owing to increasing demand for the sweets with low- or no-sugar products globally and especially from India and China. Across these countries are the traditional sweets that are increasingly replaced by the sugar-free confectioneries owing to changing health-habits and swiftly changing living standards.
Competitive Analysis:
Some of the major companies in the global sugar-free confectionery market include The Hershey Company, Mars Incorporated, Nestlé, Mondelez International, Ferrero, Chocoladefabriken Lindt & Sprüngli AG, and HARIBO of America, Inc.
Segmentation:
The sugar-free confectionery market research report is segmented by type, drug class, treatment type, and region.
On the basis of type, the sugar-free confectionery market is segmented into candy, sweets, candy nuts, chewing gum, chocolates, and others. Of these, the chocolate segment is estimated to dominate the overall market over the forecast period. However, the sweets segment is anticipated to display moderate growth over the time frame.
On the basis of the packaging, the sugar-free confectionery market is segregated into boxes, sachets, and others. Of these, the sachet segment is estimated to dominate the overall market owing to its easy availability and handling. However, the box segment is expected to display the fastest growth rate during the coming years.
Based on the distribution channel, the sugar-free confectionery market is segregated into the non-store-based and store-based distribution channels. Of these, the store-based segment is estimated to dominate the market over the forecast period.
Regional Analysis:
Regionally, the sugar-free confectionery market is segmented into the Americas, Asia-Pacific, Europe, the Middle East, and Africa. Of these, North America is estimated to remain dominant, followed by Europe in the coming period. This growth is attributable to the increasingly health-conscious population in the region. Furthermore, rising demand for sugar-free confectioneries from countries such as the United Kingdom and the Netherlands is significantly contributing to the revenue of the European sugar-free confectionery market.
Continuous innovations and new product launches by market leaders, combined with increased government efforts to ensure people's well-being, are driving growth in the global sugar-free confectionery market.
However, due to the region's involvement in customs, the sugar-free confectionery market share in Asia Pacific is expected to grow at the fastest rate. Additionally, the increase in the number of diabetic and obese populations primarily suffering from several chronic diseases globally and especially in Asian countries such as India and China is driving growth of the global sugar-free confectionery market.
Industry News:
In 2019, Rousselot announced development of new applications and the concept of producing sugar-free confectioneries. Its ‘SiMoGel’ confectionery manufacturers help to create clean label and great tasting by using gelatin.
In 2019, Dirafrost’s launched a fresh cacao fruit puree, which is aimed at chocolate production. This is increasingly highlighted as the sustainable way forward. The introduction of such products is increasing replacing the sugar used during manufacturing confectioneries, which are likely to fuel the global sugar-free confectionery market.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States of America
