Functional Confectionery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
- Transparency Market Research
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.
Global Functional Confectionery Market: Segmentation:
On the basis of nature, the global functional confectionery market can be segmented as:
On the basis of type, the global functional confectionery market can be segmented as:
- Sugar Confectionery
- Chewing Gums
- Hard Candy
- Boiled Candy
- Bakery Confectionery
- Chocolate Confectionery
- Dairy Bars
- Dark Chocolates
On the basis of function, the global functional confectionery market can be segmented as:
- Cognitive Wellness
- Performance Enhancers
- Wellness Enhancers
- Oral Care
On the basis of ingredients, the global functional confectionery market can be segmented as:
- Omega3 & Omega6
- Vitamins & Minerals
On the basis of the distribution channel, the global Functional confectionery market has been segmented as –
- Direct Sales (Gyms, Health Clubs, Institutions, etc.)
- Indirect Sales
- Modern Grocery Retailers
- Convenience Stores
- Discount Stores
- Traditional Grocery Retailers
- Food & Drink Specialty Stores
- Independent Small Groceries
- Online Retail
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.
Brief Approach to Research
Our company will follow a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the distribution channel, species, nature, origin and end use of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the market, including background and evolution
- Macroeconomic factors affecting the market and its potential
- Market dynamics, such as drivers, challenges, and trends
- Detailed value chain analysis of the market
- The cost structure of the products and segments covered in the study
- In-depth pricing analysis, by key product segments, regions and by major market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario
- Analysis of the market structure, including a tier-wise categorization of key market participants
- Competitive landscape of the market, including detailed profiles of the top players in the functional confectionery market
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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