Sugar-free Confectionery Market Overview with Application, Regional Revenue, and Forecast 2032
Sugar-Free Confectionery Market Overview
From 2022 to 2032, 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 size 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 overview 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. Thus, the sugar-free confectionery market size in the area is likely 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
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