Global Sugar-free Confectionery Market is expected to grow at a CAGR of over 5.9% during the forecast period 2017-2023
Market Overview:
Confectionery products include sweets, chocolates, candy, and others which are high in sugar content. However, increasing concern about obesity and diabetes have raised the demand for low calorie or no sugar products, which gave an opportunity to the confectionery industry to come up with sugar-free confectionery products. Sugar-free confectionery products such as sweets, candy, candy nuts, chocolates, chewing gum, and others are devoid of sugar content. Sugar is replaced by sweeteners in preparation of low-calorie sugar-free confectionery products. They are available in various attractive packaging in the market.
Market Forecast:
Sugar-Free Confectionery Market Value products are gaining traction among the growing health-conscious population, which is driving the sugar-free confectionery market. Sugar confectionery is attractive and sweet but poses threat to the obese and diabetic population, which has opened the doors for sugar-free confectionery market.
Various innovations in the sugar-free confectionery products are boosting the growth of the sugar-free confectionery market. Moreover, key players are growing their market through attractive packaging, which is adding fuel to the growth of sugar-free confectionery market. However, rising cost of the ingredients may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 5.9% of sugar-free confectionery market during the forecast period 2017-2023.
Sugar-free Confectionery Market- 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.
Sugar-free Confectionery Market- 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.
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.
Know More about Sugar-free Confectionery Market: https://www.marketresearchfuture.com/reports/sugar-free-confectionery-market-4950
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.
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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.
