Global Sugar-Free Confectionery Market - 2022-2029

Global Sugar-Free Confectionery Market - 2022-2029

Market Overview

Sugar-free confectionery products use artificial or natural sweeteners as a sugar substitute in the preparation of sweets and chocolates. These sweeteners are required in a smaller quantity compared to white table sugar for providing a sweet taste with reduced calories, carbohydrates, and glycemic response. Presently, sugar-free confectionery products are gaining traction among individuals with diabetes as their consumption does not elevate the blood sugar level. Moreover, the rising awareness about the negative impact of regular sugar intake on health is promoting the adoption of sugar free confectionery worldwide as a safe alternative to sugar-based products.

The global sugar-free confectionery market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Market Dynamics: Increasing awareness of health benefits of sugar-free confectionery is driving the market growth

Sugar consumption has been shown to have negative health impacts. Blood glucose levels are known to drop when sugar is consumed, which can cause irritability, exhaustion, and headaches. It even makes cravings and false hunger symptoms worse. A significant amount of sugar consumed over an extended period of time increases the risk of diabetes, heart disease, and obesity. Studies that are still in their early stages have linked high-glycemic diets to a number of cancer types. It is also known to negatively impact one's immune system, slow down recuperation, and potentially lead to infection. Together, these are raising awareness about the need to cut back on sugar intake and establishing a desire for sugar-free products. A significant industry for sugar-free candy has also been opened up by the rising number of diabetic cases. 34.2 million Americans have diabetes in 2018, according to the National Diabetes Statistics Report, 2020 from the U.S. Department of Health and Human Services. It also came to the conclusion that adult diabetes prevalence rose with age. In contrast to 26.8% of the population 65 years of age or older, only 21.4% of all U.S. people aged 18 or older have diabetes.

Market Segmentation: Chocolate sugar-free confectionery for the highest share in global sugar free confectionery market

In 2021, chocolate sugar-free confectionery dominated the market with a share of more than XX percent. Maltitol, which is thought to be safe for diabetic individuals, is the primary sweetener used in most of these products. A popular product in this category is dark chocolate since it contains more cocoa and less sugar and milk. This is because chocolate that is darker has a higher cocoa content. Furthermore, with a CAGR of XX% during the projection years, the sweet and candy sugar-free confectionary segment is anticipated to increase at the quickest rate. Many different dragées, fudges, candies, jellies, gummies, gums, peppermints, and toffees are among them. The demand for sugar-free products is rising as parents encourage kids to consume these instead of traditional candy to lower their risk of tooth disease and erosion.

Supermarkets and hypermarkets accounted for the largest share of more than XX% in 2021. This is explained by the convenience these channels give their customers in terms of buying. Customers can find all the products they need at these big-box stores. The biggest chains include Super Kmart, Fred Meyer, Walmart Supercenter, and Meijer. These supermarkets and hypermarkets have the benefit of selling a lot of products. With a CAGR of XX% during the projected years, the online and D2C category is anticipated to experience the fastest growth. The main benefit of using this distribution channel is that it gives the producers a chance to break through geographical barriers and build up a sizable consumer base. Additionally, it lowers the costs associated with constructing the shop's actual physical space, which eventually lowers overall costs and raises the profit margin.

Geographical Penetration: North-America is the dominating region during the forecast period

In 2021, North America had the highest share with over XX percent. Awareness of the negative effects of the U.S.'s growing sugar consumption is a big factor in the marketing of sugar-free candy. The main cause of the growing obesity problem is well-known to be sugar. The CDC National Center for Health Statistics reports that during the projected period, the prevalence of obesity was 42.4%. People have therefore been attempting to reduce their daily sugar intake by favoring sugar-free products.

The region with the fastest rate of growth is Asia Pacific, which is anticipated to increase at a CAGR of XX% over the course of the projection period. The World Health Organization reported that in August 2017, there was a sharp rise in type 2 diabetes cases. In the region, there are 96 million people with diabetes, 90% of them have type 2, which can be avoided by consuming less sugar. As a result, the market for sugar-free candy is predicted to grow significantly in the area.

Competitive Landscape:

The market for sugar-free confectionery has been growing rapidly. Product launches have been essential to the market's expansion. Some of the prominent players in the sugar-free confectionery market include Abdallah Candies Inc.,Asher’s Chocolate Co. ,Diabetic Candy.com, LLC ,Dr. John's Healthy Sweets LLC ,LILY'S SWEETS ,ROY Chocolatierand Russell Stover Chocolates, LLC. Beneo released Sweet Collection in February 2020, a collection of sugar-free candies with real flavours. By including a healthy indulgence and sensual immersion, the collection focuses on excitement and authenticity. The business worked with taste development partner Symrise to produce the best flavour. The taste combinations that are preferred in each region were developed by regional specialists from North America, Europe, and Asia. The ingredients used in the items range from exotic to extremely local.

COVID-19 Impact: Negative impact on the global sugar-free confectionery market

The covid-19 pandemic was difficult, particularly for sugar-free candy. Even though the epidemic had a significant impact on raising public awareness of the need to consume less sugar, volume of sales of sugar-free candy fell. People were observed living healthy lifestyles at home and outsourcing of products was curtailed as a result of lockdowns brought on by the pandemic. Additionally, a significant contributing aspect that had an impact on sales was the economic crisis. However, it is anticipated that the market for sugar-free candy will rebound from this loss brought on by COVID 19, as more people are becoming health conscious.

The global sugar-free confectionery market report would provide an access to approximately 53 market data tables, 41 figures and 170 pages