The global functional confectionery market is expected to grow at a significant rate during the forecast period due to increasing demand for nutritious and healthy snacks among middle-aged people, children and seniors. The “chocolate confectionery” is expected to be the fastest growing type segment owing to easy availability of various chocolates such as white chocolate, dark chocolate, fruit-based and nut-based chocolates Furthermore, the increasing awareness regarding the benefits of functional confectionery is also enhancing the market growth.
According to Data Bridge Market Research the Functional Confectionery Market accounted for USD 1.8 billion in 2021, and expected to reach USD 2.98 billion by 2029. The market is expected to grow with a CAGR of 9.10% in the forecast period of 2022 to 2029.
“Growing Demand for Organic and Clean Label Snacks”
Healthier snacking is the growing trend among consumers which is the major strategy adopted by the leading companies due to the growing demand for the healthy snacks. Nowadays, demand for the organic chocolate is growing rapidly because it does not contain any added chemicals, which can cause major health problems. Consumers prefer sugar-free, vegan, organic, gluten-free chocolates because they are more conscious bout theri wellness and health . Thus, various functional confectionery industries are introducing latest flavored chocolates with attractive packaging that lets consumers consume tese choclates in small portions and preserve the rest for later. The rise in exports for organic chocolates is also expected to increase the demand for the functional confectionery market.
What restraints the growth of Functional Confectionery Market?
“Multiple issues associated with functional confectionery”
Easy accessibility of product alternatives, stringent government rukeas and regulations pertaining to quality standardization will limit the growth of the functional confectionery market. Morover, high cost of research and development activities and the fluctuation in the price of raw materials will further hamper the market's growth rate. Other restraint factors include high sugar levels in patients, increasing obesity prevalence, and a increasing incidence rate of diabetes worldwide.
Segmentation: Functional Confectionery Market
The functional confectionery market is segmented on the basis of nature, type, function, ingredients, application and distribution channel.
- On the basis of nature, the functional confectionery market is segmented into organic, conventional.
- Based on type, the functional confectionery market is segmented into sugar confectionery, bakery confectionery, chocolate confectionery.
- On the basis of function, the functional confectionery market is segmented cognitive wellness, performance enhancers, wellness enhancers, oral care, others.
- Based on ingredients, the functional confectionery market is segmented into protein, omega 3 and omega 6, vitamins and minerals, probiotics, others.
- Based on application, the functional confectionery market is segmented into children, middle age, senior, youth.
- On the basis of distribution channel, the functional confectionery market is segmented into direct sales, indirect sales.
Regional Insights: Asia-Pacific is expected to dominate the Functional Confectionery Market
Asia-Pacific is expected to dominate the market and is expected to grow significantly owing to the increasing demand for the sugar confectionery products such as chocolates from developing countries such as China and India. Furthermore, increasing health consciousness among consumer will further accelerate the market growth in this region.
- In addition, the North America region is likely to register highest growth rate during the forecast period of 2022 to 2029 due to increasing preference for healthy living among consumer and augmented expenditure on nutritional dietary supplements. Moreover, major manufacturers such as Lindt, Mars Inc., and Barry Callebaut have boosted the penetration of these products in this in this region.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-functional-confectionery-market
Recent Developments in Functional Confectionery Market
- In 2022, Hershey produced a functional bar to commemorate All Girls and Women. The "Celebrate SHE" bars are a limited edition of functional bar. The brand emphasized SHE in the centre of the milk functional bar.
- In 2022, Cadbury, a Mondelez International brand, introduced the Twist Wrap packaging solution for its Duos range. This packaging solution allows consumers to snack in small portions by sealing and twisting the package after consuming half of the functional bar.
- In 2022, Kellogg collaborated with Landor & Fitch to create a new packaging system that completed the brand's offerings. This new packaging was rolled out in regions such as the Benelux, France, Italy, Portugal, Spain, United Kingdom, Ireland and the Middle East & North Africa.
The Prominent Key Players Operating in the Functional Confectionery Market Include:
- Barry Callebaut (Switzerland)
- Olam International (Singapore)
- The Hershey Company (U.S.)
- Nestle SA (Switzerland.)
- Ingredion Incorporated (U.S.)
- Mars, Incorporated (U.S.)
- Koninklijke DSM N.V. (Netherlands)
- Kerry Group plc (Ireland)
- Tate & Lyle PLC (U.K.)
- Cargill, Incorporated (U.S.)
- Blommer Chocolate Company (U.S.)
- Foley's Candies LP (Canada)
- Puratos Group Nv (Belgium)
- Ferrero International S.A. (Italy)
Above are the key players covered in the report, to know about more and exhaustive list of Functional Confectionery Market companies contact, https://www.databridgemarketresearch.com/reports/global-functional-confectionery-market
Research Methodology: Global Functional Confectionery Market Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
