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blueweaveconsultingblog · 1 year ago

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Sugar-Free Confectionery Market Outlook, Trends, Report 2022-2029

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global sugar-free confectionery market size at USD 2.45 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global sugar-free confectionery market size to grow at a significant CAGR of 5.5% reaching a value of USD 4.05 billion by 2029. Major growth drivers for global sugar-free confectionery market include an increasing concern related to high sugar intake and the surging demand for low-calorie and diabetic-friendly products. To produce candies with fewer calories, manufacturers use artificial sweeteners or sugar substitutes, including saccharin, aspartame, sucralose, acesulfame, and neotame. In addition, the use of sugar alcohols such as mannitol, erythritol, sorbitol, xylitol, lactitol, maltitol, and hydrogenated starch hydrolysates is becoming a popular trend in the industry, as these ingredients are considered healthier. The inclusion of sugar alcohols in confectionery products is expected to widen the range of products available to diabetic individuals. The market's revenue growth is driven by the rise of health concerns such as diabetes and obesity among populations, which can be attributed to changing lifestyles and increasing income levels. However, high cost of sugar-free confectionery products compared to traditional confectionery products and the limited availability of natural sugar substitutes are anticipated to restrain the growth of the global sugar-free confectionery market during the period in analysis.

Global Sugar-free Confectionery 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. High consumption of sugar has been found to have adverse effects on one’s health. Excessive sugar is known to plummet blood glucose levels, which can result in mood swings, fatigue, and headaches. It even enhances cravings and false hunger pangs. Long-term consumption of a substantial amount of sugar leads to a higher risk of obesity, heart disease, and diabetes. Various studies in the nascent stage have also found a relation between high-glycemic diets and multiple forms of cancer. It is also known to affect one’s immune system adversely and ultimately reduce the rate of recovery and even cause infection. Together, these are promoting awareness regarding reducing sugar consumption and initiating a preference for sugar-free products.

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Impact of COVID-19 on Global Sugar-free Confectionery Market

COVID-19 pandemic adversely affected the global sugar-free confectionery market. It led to disruptions in the supply chain and distribution channels, which impacted the production and availability of sugar-free confectionery products. The closure of manufacturing facilities and disruptions in the transportation and logistics industry caused delays in the delivery of raw materials and finished products, leading to shortages and increased prices. Also, the closure of retail stores and the shift towards e-commerce had a mixed impact on the sugar-free confectionery market. While online sales increased, the closure of physical stores and the resulting decline in impulse purchases impacted overall sales and revenue. However, with the implementation of lockdowns and social distancing measures, there was a shift in consumer behavior towards healthier eating habits and an increased focus on personal health and wellness. It led to a surge in demand for sugar-free and low-calorie confectionery products, as consumers seek out healthier alternatives to traditional sweets and chocolates.

Global Sugar-free Confectionery Market – By Product

By product, the global sugar-free confectionery market is bifurcated into Sweet & Candy Confectionery and Chocolate Sugar-Free Confectionery segments. The chocolate sugar-free confectionery segment holds a higher share in the global sugar-free confectionery market. Consumers are increasingly looking for healthier alternatives to traditional confectionery products, and sugar-free chocolate offers the taste and indulgence of regular chocolate without the negative health impacts of sugar. Most sugar-free confectionery products use maltitol as the primary sweetener, which is believed to be safe for diabetic individuals. Dark chocolate is a popular product in this category because it contains a higher amount of cocoa and less sugar and milk. This is because the darker chocolate has a higher cocoa content, which provides a more intense flavor and reduces the need for additional sweeteners. As a result, sugar-free dark chocolate is often preferred by health-conscious consumers and those with diabetes.

Competitive Landscape

Major players operating in the global sugar-free confectionery market include Nestle SA, The Hershey Company, Lindt & Sprungli AG, Mondelez International, Inc., Ferrero Group, Haribo GmbH & Co. KG, Perfetti Van Melle, Russell Stover Chocolates, Wrigley Jr. Company, Ricola AG, Chupa Chups SA, Jelly Belly Candy Company, Lotte Group, Swizzels Matlow Limited, and The Topps Company. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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#Sugar-Free Confectionery Market

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