Sugar-Free Confectionery Market Overview
From 2022 to 2030, the Sugar-Free Confectionery Market is predicted to grow at a CAGR of approximately 5.2%. There's no better place to learn about the Sugar-Free Confectionery Market than here. There are a large variety of sugar-free confections on the market that are either sugar-free or doesn’t include any added sugar as a substitute for sugar. Therefore, the consumption of sugar-free items is a healthier option than sweets sweetened with sugar.
Several variables contribute to the rise in sugar intake, including spending power and consumer consumption habits. Because of this, the demand for sugar-free sweets is on the rise because of growing health consciousness and a desire to lose weight and lower cholesterol. As a result, the sugar-free confectionery market is expanding.
The idea of sugar-free sweets is becoming less and less appealing in light of the current epidemic. As a result, there is a shortage of labour in sugar-free confectionery enterprises. The sugar-free confectionery business is only beginning to take influence from all of these causes. However, with the beginning of the vaccine procedure in 2021, everything is expected to return to normal by 2022.
Competitive Landscape
The prominent key players of the sugar-free confectionery market in the global market are mentioned down below-
- THE HERSHEY COMPANY (U.S.)
- Nestlé (Switzerland)
- Mars Incorporated (U.S.)
- Mondelez International (U.S.)
- Chocoladefabriken Lindt & Sprüngli AG (Switzerland)
- Ferrero (Italy)
- HARIBO of America, Inc. (Germany)
Market Segmentation
The sugar-free confectionery market outlook is classified into diverse categories such as types, packaging, distribution channels, and regions.
Chewing gums, sweets, chocolates, candy nuts, and other confections comprise the majority of the sugar-free confectionary sold worldwide. Sugar-free confectionery data shows that chocolate is the most popular product category. The chocolate market is predicted to increase exponentially throughout the forecast timeframe. The sweets market is also expected to see some modest increases throughout the forecast period.
The worldwide market for free candy is divided only between distribution channels that are located in stores and those that are not. Therefore, it is more probable that the store-based distribution system will remain dominant in the market in the near future. However, a more modest increase is projected in the next several years for the non-store-based distribution platform.
Regional Classification
In 2019, North America accounted for more than 35% of the total. The consciousness of the negative consequences of America's soaring sugar intake is a crucial element in the marketing of sugar-free sweets. Being overweight has been linked to a rise in the use of sugar. More than 42% of Americans were overweight or obese between 2017 and 2018, as per data from the CDC National Center for Health Statistics. As a result, more consumers choose sugar-free options to reduce their daily sugar consumption.
From 2020 to 2027, Asia Pacific is predicted to develop at a CAGR of 6.3%, emerging as the fastest region in the world. Diabetic type 2 is on the rise, according to World Health Organization research released in August 2017. Diabetes affects approximately 96 million residents in the area, 90 percent of whom have type 2, which may be prevented by cutting down on sugar intake. As a result, sugar-free confectionery market insights in the region are expected to grow significantly.
Industry News
Albanese Candy introduced their 8-flavour gummi bears in 2020, which were made with natural tastes and colours derived from fruits and veggies. NEXTY Consumer Choice Award for its Ultimate eight flavour gummi bears in the f&b category went to the firm, which was recognised for its gummi bears
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