Sugar-Free Confectionery Market is Expected to Grow at a CAGR of 5.9% from 2017 to 2023

Market Overview:

Confectionery products include sweets, chocolates, candy, and others which are high in sugar content. However, increasing concern about obesity and diabetes have raised the demand for low calorie or no sugar products, which gave an opportunity to the confectionery industry to come up with sugar-free 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.

Sugar-free confectionery products are gaining traction among the growing health-conscious population, which is driving the sugar-free confectionery market. Sugar confectionery is attractive and sweet but poses threat to the obese and diabetic population, which has opened the doors for sugar-free confectionery market.

Various innovations in the sugar-free confectionery products are boosting the growth of the sugar-free confectionery market. Moreover, key players are growing their market through attractive packaging, which is adding fuel to the growth of sugar-free confectionery market. However, rising cost of the ingredients may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 5.9% of sugar-free confectionery market during the forecast period 2017-2023.  

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Downstream Analysis:

Based on the type, the sugar-free confectionery market is segmented into 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. The sweets segment is projected to witness a moderate growth during the estimated period.

The sugar-free confectionery market is segmented on the basis of packagings such as sachets, boxes, and others. The sachet segment is dominating the market. However, boxes segment are witnessed to be the fastest growing segment.

On the basis of the distribution channel, the 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 projected to continue its dominance over the forecast period. However, non-store based distribution channel is likely to gain a moderate growth in the coming years.

Competitive Analysis:

The Major Players in the Sugar-Free Confectionery Market,

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)
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. The U.S. is the major contributor to the North American sugar-free confectionery market.

Europe is the second largest sugar-free confectionery market across the globe.

Asia Pacific is the fastest growing sugar-free confectionery market owing to high usage of confectioneries in the festivals and customs of India. Moreover, increasing health awareness among the population is supporting the growth of sugar-free confectionery market in rest of the world.

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Market Segmentation:

Sugar-Free Confectionery Market is segmented on the basis of Type, Packaging, Distribution Channel and Region

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This release was published on openPR.