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Sugar-free Confectionery Market To Witness A CAGR Of 5.4% Between 2021-2031
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The confectionery industry utilizes low-calorie artificial sweeteners in the preparation of finished items. Consumers are inclining toward sugar-free confectionery products due to their low-calorie content. Low-calorie artificial sweeteners help tackle obesity and are beneficial for diabetic patients as well. Growing awareness regarding the adverse effects of sugar and carbohydrates is leading to an increase in demand for sugar-free products.
Manufacturers are using artificial sweeteners to add sweetness to sugar-free confectionery products. Increasing health awareness among people concerned about obesity, diabetes, and calorie intake will drive market growth.
• In 2020, Albanese Candy launched its 8 flavor gummi bears in natural flavors and colors from fruits and vegetables. The company won the "NEXTY Consumer Choice Award" for its Ultimate 8 flavor gummi bears in the food & beverage category.
• See's Candy Shops, Inc. offers high-quality products by using fresh and fine ingredients. See's Candy Shops, Inc. is still using traditional methods to manufacture confectionary products. It also decorates chocolates by hand.
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Key Takeaways from Market Study
• The market in countries of the Middle East & Africa and South Asia is anticipated to expand at CAGRs of 6.9% and 7.9%, respectively, through 2031.
• North America and Europe dominate the global market with a share of 39.1% and 27.4%, respectively.
• Sales of sugar-free confectionery through speciality stores is valued at US$ 494 Mn.
• China and Australia hold significant market share for sugar-free confectionery in East Asia and Oceania, respectively.
• Major demanding country for sugar-free confectionery is the U.K., with its market expected to reach US$ 99 Mn by 2031.
• The COVID-19 pandemic had a significant influence on the market for sugar-free confectionery. However, growing demand for healthy and nutritious food products is anticipated to help market recovery in the near term.
Competitive Landscape
Sugar-free confectionery manufacturers are focusing on innovation, research, and development to manufacture high quality confectionery items. Key players are anticipated to expand their product range through multiple innovations.
• Continental Candy Industries B.V. aims to improve its research & development capabilities of existing product lines. The company is constantly engaged in new product development and product launches for a wide range of industries.
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• Global Market Study on Roasted Soybean: https://www.persistencemarketresearch.com/market-research/roasted-soybean-market.asp
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