The global sugar-free confectionery market size is expected to reach USD 2.81 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.1% from 2020 to 2027. Rising awareness regarding health and wellness among millennials as a result of an increasing number of advertising campaigns aimed at fitness improvement is expected to increase spending on sugar-free confectionery. Furthermore, rising concerns over dental problems resulted from excess consumption of conventional candies are expected to compel the buyers to purchase alternative confectionery products, which lower the existence of oral health problems.
New manufacturing processes have been a major factor contributing to the market growth. In July 2020, Mondelez International, Inc. patented a process for manufacturing chocolate confectionery using soluble corn fiber to reduce the sugar and calorie content. This is expected to cut down the sugar content by over 50%. Along with this, it does not alter the composition of the chocolate significantly.
Sweet and candy confectionery is projected to witness the fastest growth with a CAGR of 5.8% from 2020 to 2027. Parents promoting the consumption of these among kids over the conventional confectionery in order to reduce the risks pertaining to decay and erosion of teeth is leading to rising demand for the product.
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Sugar-free Confectionery Market Report Highlights
• By product, chocolate confectionery accounted for the largest share of more than 40.0% in 2019. The popularity of chocolate, along with the adverse effects of sugar on the physique, has led to the popularity of chocolate confectionery
• Based on the distribution channels, hypermarkets and supermarkets accounted for the largest share of more than 35.0% in 2019. This is attributed to the one-stop shopping experience these channels offer to their customers
• The online and D2C segment is expected to witness the fastest growth with a CAGR of 6.4% from 2020 to 2027. The major advantage associated with the channel is that it offers the manufacturers an opportunity to break the physical barriers and establish a large consumer base
• North America held the largest share of over 35.0% in 2019. Increased awareness among buyers regarding sugar-free alternatives among health-conscious consumers of the U.S. and Canada is expected to remain a favorable factor for the regional market growth
• Asia Pacific is projected to foresee the fastest growth at a CAGR of 6.3% from 2020 to 2027. This growth is attributed to the increased willingness to pay a premium price for confectionery products among the middle-class population in emerging economies, such as China and India.
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Sugar-free Confectionery Market Segmentation
Grand View Research has segmented the global sugar-free confectionery market on the basis of product, distribution channel, and region:
Sugar-free Confectionery Product Outlook (Revenue, USD Million, 2016 - 2027)
• Sweet & Candy Confectionery
• Chocolate Confectionery
Sugar-free Confectionery Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
• Hypermarkets & Supermarkets
• Convenience Stores
• Online Stores & D2C
Sugar-free Confectionery Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
List of Key Players of Sugar-free Confectionery Market
• Abdallah Candies Inc.
• Asher’s Chocolate Co.
• Diabetic Candy.com, LLC
• Dr. John's Healthy Sweets LLC
• LILY'S SWEETS
• ROY Chocolatier
• Russell Stover Chocolates, LLC
• See's Candy Shops, Inc.
• Sugarless Confectionery
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Browse More Related Report:
Organic Chocolate Confectionery Market Size, Share & Trends Analysis Report By Type (Milk, Dark), By Product (Molded Bars, Chips & Bites), By Distribution Channel (Online, Super/Hypermarkets), And Segment Forecasts, 2021 - 2028
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