Market Overview:
Sugar-free confectioneries are a wide range of products, which are devoid of sugar or contain artificial sweeteners in replacement of sugar. They are consumed as a healthy alternative to the sugar-based confectionery products. Growing trend of health and wellness activities have inclined consumers from sugar confectioneries to sugar-free confectioneries. The different types of sugar-free confectioneries are available in the market such as sweets, candy, candy nuts, chocolates, chewing gum, and others. They are available in different attractive packaging including sachets, boxes, and others.
Sugar-Free Confectionery Market is projected to grow at a CAGR of 6.2% over the forecast period. Confectionery products are high in sugar content, which have raised the concern about obesity and diabetes among the growing population. This has led to increasing trend for sugar-free confectionery as a substitute for the sugar 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.
Asia Pacific is expected to have a substantial growth over the forecast period 2017-2023. In Asia Pacific, India is the major contributor to sugar-free confectionery followed by China. According to WHO, 60% of diabetic population resides in Asia Pacific region of which almost one half population is from China and India combined. With continuous rise in the diabetic population, Asia Pacific has a great opportunity for sugar-free confectionery market.
Moreover, diabetes is emerging as a hidden scourge in Japan, which is a positively influencing the growth of the sugar-free confectionery market. Australia, Malaysia, New Zealand, and Singapore are some of the emerging markets in favor of sugar-free confectioneries. Additionally, increasing health awareness among the population is adding fuel to the growth of sugar-free confectionery market in these region. However, increasing the cost of ingredients may hamper the growth of the market. Nevertheless, all these factors are likely to lead to the growth of the Asia Pacific market at a CAGR of 6.2% during the forecast period 2017-2023.
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Major Key Players:
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major sugar-free confectionery players. It further includes product portfolios, developments of leading players, which includes
- THE HERSHEY COMPANY (U.S.)
- Nestlé (Switzerland)
- Mars Incorporated (U.S.)
- Mondelez International (U.S.)
- Chocoladefabriken Lindt & Sprüngli AG (Switzerland)
- Ferrero (Italy) and
- HARIBO of America, Inc. (Germany)
Key Findings:
China, Spain, Argentina, India, and the Netherlands are the major producers and exporters in the confectionery market.
Coconut syrup is massively growing as an alternative sweetener in the confectionery industry.
Industry Segments:
Sugar-free confectionery market is segmented on the basis of a type such as sweets, candy, candy nuts, chocolates, chewing gum, and others. The chocolate segment is dominating the market and is expected to grow substantially over the forecast period. Sweets segment is projected to witness a moderate growth during the estimated period.
On the basis of the packaging, sugar-free confectionery market is segmented into sachets, boxes, and others. The sachet segment is dominating the market. However, boxes segment are expected to grow at the fastest rate in the coming years.
Based on the distribution channel, sugar-free confectionery market is segmented into the store-based and non-store based distribution channel. The store-based distribution channel is dominating the market and is likely to continue its dominance over the forecast period. However, non-store based distribution channel is expected to gain moderate growth in the coming years.
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Regional Analysis:
The global sugar-free confectionery market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is dominating the global market followed by Europe. Increasing health-conscious population is driving the sugar-free confectionery market in North America.The U.K and the Netherlands are major contributors to the European sugar-free confectioneries market.
In Asia Pacific, India is the major consumer of confectionery products owing to the involvement of confectioneries in their various traditional customs, which has a high opportunity for sugar-free confectionery in this region.
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