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A Billion-Dollar Boom In Sugar-free Confectionery Market Motivates The Market Leaders

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Vinit Sawant
A Billion-Dollar Boom In Sugar-free Confectionery Market Motivates The Market Leaders

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.

 

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Vinit Sawant
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