Functional Confectionery Market Demand,Overview and Forecast Research Report to 2028
Functional Confectionery Market
Confectionery
assumes a significant part in human eating regimen, and it by and large
contains high measures of sugar and starches. The significant confectionery
items are desserts, candies, confections, chocolates, and related sweet things
and nibble food varieties. Functional confectionery is the sort of
confectionery item that can supply fundamental filaments, nutrients, and
minerals, to buyers, coupled with taste and fulfillment. Vital factors aiding
in the expansion of the functional confectionery market are the expanding
utilization of dietary enhancements, alongside the rising interest for good
food things with added health benefits. Developing spending power and expanding
the number of female professionals are some different elements that are
advancing the development of the worldwide functional
confectionery market in the coming years.
The
popularity of snack times has influenced people in almost all parts of the
world because of the high-speed way of life of the metropolitan populace. This
is projected to spur a positive demand for functional confectionery items in the
years to come. Region-wise, North America, is holding the dominant share of the
functional confectionery market followed by Europe in close competition, on
account of its solid buyer base for functional food varieties and refreshments.
Further, the natural section is required to be the most rewarding one for
producers.
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Functional Confectionery Market Outlook
The global
confectionery market is experiencing steady year-on-year growth and has a
number of new players with innovative portfolios. The functional confectionery
market is considered as one of the key segments that may overcome the slowing
traditional confectionery market in Europe and North America. Snacking has
increased in terms of consumption due to the fast-paced lifestyle of the urban
population, which is estimated to creating a positive demand for functional
confectionery over the forecast period. North America, followed by Europe, is
pegged to dominate the functional confectionery market over the forecast
period, owing to its strong consumer base for functional foods and beverages.
Further, the organic segment is expected to be the most lucrative one for
manufacturers.
Functional Confectionery Market: Reasons for Covering This Title
Fragmentation
of a mature market such as confectionery is likely to result in manufacturers
being able to increase the demand for novel offerings. Key market participants
in the functional confectionery market are leveraging the rapid growth of
functional food segment by introducing functional confectionery products
targeting the healthy food preferring consumer base in major developed regions.
Recent product launches in the confectionery market show the presence of some
degree of functional ingredients in products that are low-sugar, low-calorie
and clean label. A large number of regional functional confectionery players
capture a majority of the market share whereas traditionally, in the
confectionery market, global players occupy a high share.
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Global Functional
Confectionery Market: Key Players:
Some of the key players operating in
the global functional confectionery market are, The Wm. Wrigley Jr. Co.,
Functional Gums s.r.l, Mars, Inc., Perfetti Van Melle, Haribo, Yildiz Holding,
Mount Franklin Foods, Llc., The Hershey Company, Hearthside Food Solutions
LLC., Loacker USA Inc., Perfetti Van Melle, and Perta Foods Ltd.
Key Product
Launches in Functional Confectionery Market
Key product launches in the
functional confectionery market in the recent years are observed to be
targeting ethical buyers and vegan populations:
·
In 2018, the company Chewpod, a functional gum manufacturer, for the
first time launched its product in the U.S. The company has previously faced a
lot of traction in its regional market, i.e. Europe and is expected to get a
head start over the U.S. functional confectionery market owing to its strong
brand equity among functional confectionery users. The company offers product
features such as instant energy and sleep enhancing properties in its
functional confectionery line-up.
·
In 2017, Truth Bar Company launched its probiotic-added functional
confectionery bars for the masses to target the growing probiotic-added food
segment. The functional confectionery bar carries 12 gm of protein and other
macronutrients with billions of probiotics to carter to consumer gut health
Opportunities for
Market Participants in Functional Confectionery Market
Developed regions, such as Europe and
North America, are expected to generate majority of the revenue in the
functional confectionery market. Functional confectionery, in this region, has
mostly entered the mainstream confectionery market with a few products in the
premium functional confectionery offerings. The functional confectionery market
is expected to witness high growth rates in developing and rapidly urbanizing
regions of Asia Pacific and Latin America. China is estimated to be a major
market for functional confectionery over the forecast period. The Middle East
and Africa region is estimated to capture a substantial volume share of the global
functional confectionery market over the forecast period, which can be
attributed to the increasing penetration of European food and beverage
manufacturers.
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