The 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 in the coming years as well. Sugar-Free Confectionery Market is expected to Grow at a CAGR over 5.9% from 2017 to 2023
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.
Segmentation:
The Sugar-Free Confectionery Market is segmented on 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 boxes 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 channel. 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, and Middle East & 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. Additionally, increasing demand for sugar-free confectionaries from countries such as the U.K. and Netherlands are majorly contributing to the revenue of the European sugar-free confectioneries market.
However, the market in the Asia Pacific is estimated to display the fastest growth owing to involvement of confectioneries in the customs in the region. Additionally, the increase in number of diabetic, obese population primarily suffering from several chronic diseases globally and especially in Asian countries such as India and China are driving growth of the global sugar-free confectionery market.
Continuous innovations and new products launch by the key players in the market, coupled with increasing efforts by the government to ensure the wellbeing of people is driving growth of the global sugar-free confectionery market.
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.
According to IMARC Group latest report titled” Sugar-Free Confectionery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth.
The global Sugar-Free Confectionery market size to exhibit moderate growth during the next five years.
A sugar-free confectionery are generally made up of artificial or natural sweeteners as a sugar substitutes.
These sweeteners are consumed in a smaller quantity than regular white sugar for providing a sweet taste with reduced carbohydrates, calories, and glycemic response.Get a sample copy of this Report: https://www.imarcgroup.com/sugar-free-confectionery-market/requestsampleAs the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.Market Trends:A significant increase in the number of individuals suffering from diabetes and obesity is contributing to the global sugar-free confectionery market.
Moreover, as natural sugar substitutes decrease the risk of decay and erosion of teeth, the growing focus on maintaining oral health is catalyzing the demand for sugar-free confectionery.
Furthermore, several leading players are offering organic and innovative flavors to cater to diversified consumer needs and preferences.
