Sugar-free Confectionery Market Worth USD 104.86 billion by 2027 With CAGR of 4.0%: Grand View Research, Inc.

Sugar-free Confectionery Market Worth USD 104.86 billion by 2027 With CAGR of 4.0%: Grand View Research, Inc.

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According to a new report by Grand View Research, Inc. the global sugar-free confectionery market size was valued at USD 1.88 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2020 to 2027. The growth is attributed to the widespread impression that the sugar-free version is healthier than the conventional counterparts.

The global sugar-free confectionery market is anticipated to exhibit a CAGR of 5.1% from 2020 to 2027, according to a recent report by Grand View Research, Inc. Due to the expanding consumer base and rising consumption of sugar-free candies, manufacturers of infused fruit jellies are developing marketing strategies and innovative packaging solutions. For instance, there is a significantly rising focus on creating distinctive products by innovative packaging like having a QR codes and 3D wrapping, and contests to engage millennial buyers.

The surging consumption for organic sugar-free confectionery is the key factor driving market demand. Lately, organic sugar-free confectionery has gained enormous demand as it is made from natural ingredients like fruits and are free of synthetic chemicals, herbicides, and pesticides. Biodiversity, growth cycles, and ecological processes affects the cultivation of organic fruits, also depends on the local climatic conditions. E-commerce vendors are monitored by supervisory bodies, such as the Non-GMO Project and the United States Department of Agriculture (USDA). For example, the Sugar Free Organic Dark Chocolate Bar offered by Gabriella Chocolates & Confections offers is prepared using organic cocoa butter, cocoa mass, organic vanilla bean, and organic allulose.

Ricola, an Herbal confectionery specialist have a driven plan to expand its Swiss heritage over the coming years. Its positive approach for the October 2020 Moodie Davitt Virtual Travel Retail Expo. In the early 2020, Ricola rolled out its plans for a long-drawn-out travel merchandizing product line-up for business to restart after the COVID-19 crisis.

U.S. sugar-free confectionery market size

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COVID-19 Effect:

A sizeable number of population have escorted to binge eating amid the Covid-19 lockdown. During the stress-filled times people are confined within their homes and are snacking more than ever before. But snacking today is very different from what it was some years back. Today, there is an evident visible shift in the snacking narrative than what was a few years back. Consumers are increasingly focusing on eating healthy snacks, without any compromise on taste. Cookie dips and crackers laced with sodium have made way for sugar-free confectionery items, grab-and-go fruit, yoghurts, and nut bars, and amaranth cupcakes.

Further findings from the report suggest:

  • Chocolate sugar-free confectionery  segment dominated the market with an overall share of 40.0% in 2019. Maltitol is used as a sweetening agent and is considered safe for people suffering from diabetic. Dark chocolate is a popular product under this category and preferred due to the high content of cocoa, which subsequently lowers the sugars and milk content.
  • Hypermarkets and supermarkets segment accounted for a share of more than 35.0% of the overall revenue in 2019. The facilitation of a one-stop shopping experience offered by these outlets for to their customers is the key driving factor of the market. Some of the noteworthy chains include Walmart Supercenter, Meijer, Fred Meyer, and Super Kmart.

Global sugar-free confectionery market share

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 Major Players:

  • 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
  • The Hershey Company 

 

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research Guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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