LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global sugar-free confectionery market is expected to grow at a CAGR of more than 5% during the predicted period.
This research report titled ‘Global Sugar-free Confectionery Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The major drivers of the confectionery market are rapidly changing consumption pattern, increasing demand for low calorie and sugar-free confectionery products, rise in gifting trends, introduction of products in various flavors, packaging innovations, and wide accessibility to consumers through online retailing. However, this growth will be hindered by few challenges such as growing health concerns from consumption of confectionery products, rising ingredients cost, and stringent government regulations on imports and exports of confectionery products.
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Technavio’s analysts categorize the global sugar-free confectionery market into four major segments by product. They are:
- Chewing gums
- Mints, pastilles, jellies, gums, and chews
- Hard-boiled candies and toffees
- Chocolates
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The top three product segments of the global sugar-free confectionery market are discussed below:
Global sugar-free confectionery market based on chewing gums
Chewing gums dominate the sugar-free confectionery markets in almost all the regions of the world such as North America, Western Europe, Southern and Eastern Asia, the Middle East and Oceania. The major vendors of chewing gums are Mars, Mondelēz International, HARIBO International, and YILDIZ HOLDING. Some of the most popular brands of chewing gums are Wrigley's Doublemint Chewing Gum, Wrigley's Juicy Fruit Chewing Gum, Dentyne Ice Chewing Gum, Dubble Bubble gumballs, Trident Original Flavor Chewing Gum, Orbit Wintermint Chewing Gum, and Bazooka Chewing Gum.
The increasing number of new and innovative flavors and the growing demand from the regions such as the Asia-Pacific and Latin America are the major drivers that will drive the growth of the chewing gum market during the forecast period.
Global sugar-free confectionery market based on mints, pastilles, jellies, gums, and chews
Growing health consciousness among the consumers and increasing use of convenience products will drive the market growth of this product segment during the forecast period. Gums and jellies are comparatively low-boiled and have a moisture content of about 20%. The texture of these substances, which more often is firm or solid, can be obtained using various types of water-binding gelling agents such as gum Arabic, starch, gelatin, agar, and pectin.
“Due to their high vitamins, minerals, and protein content, gummies are quite popular among health-conscious consumers. Jellies and gums are available in flavors such as orange, strawberry, cherry, blue raspberry, and cinnamon. Flavors such as lemon, watermelon, and grape have been waning away as consumers now prefer other flavors because of their health benefits,” according to Manjunath Jagannath, a lead food research analyst from Technavio.
Global sugar-free confectionery market based on hard-boiled candies and toffees
“The hard-boiled candies market is driven by the growing retail sector and product innovations containing exotic flavors. The sugar confectionery market with hard-boiled candies are most often purchased on impulse and instinct, so one can easily find these items near the point of sales and billing counters inside the supermarkets, retail stores, and convenience stores. This creates convenience for the customers, increasing the sale of hard-boiled candies,” adds Manjunath.
Sugar-free hard-boiled candies are made with the combination of isomalt and maltitol syrup. Maltitol is used for improving the process in order to keep the viscosity of the syrup intact.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Chocoladefabriken Lindt & Sprüngli
- Mars
- Mondelēz International
- The Hershey Company
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