About Functional Confectionery
An obsession with sweets, alongside a seemingly antithetical focus on health and wellness, has led to the evolution of the functional confectionery category. Functional confectionery can deliver vitamins, fibres, or minerals to consumers in a tasty, and appealing way, and is one of the fastest growing product categories in the nutraceutical industry. Rise in consumer spending coupled with increased health consciousness among the consumers booming the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Functional Confectionery market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
The Wm. Wrigley Jr. Co. (United States), Mars, Incorporated (United States), Perfetti Van Melle (Italy), Haribo (Germany), Yildiz Holding (Turkey), Mount Franklin Foods, Llc (United States), The Hershey Company (United States), Hearthside Food Solutions LLC. (United States), Loacker USA Inc. (United States) and Perta Foods Ltd. (Singapore) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Gumlink Confectionery Company A/S. (Denmark).
Segmentation Overview
AMA Research has segmented the market of Global Functional Confectionery market by Type (Medicated Confectionery, Fortified/Functional Gum and Fortified/Functional Chocolate) and Region.
On the basis of geography, the market of Functional Confectionery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Nature, the sub-segment i.e. Conventional will boost the Functional Confectionery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Function, the sub-segment i.e. Cognitive Wellness will boost the Functional Confectionery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Direct Sales {Gyms, Health Clubs, Institutions} will boost the Functional Confectionery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Ingredients, the sub-segment i.e. Protein will boost the Functional Confectionery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Rising Popularity of Functional Gums among the Consumers
Market Growth Drivers:
Younger Consumers Are Increasingly Turning To Quick and Convenient Functional Foods as A Means Of Dealing With Day-To-Day Issues Like Stress And Lack Of Energy, Consumers Becoming Increasingly Health-Conscious Driving the Market Growth and Rise in Consumer Spending Has Resulted in Increased Demand
Challenges:
Fluctuations in Raw Material Prices
Restraints:
An Availability of Substitute Products
Opportunities:
Development of New Candy Formulations and Emerging Demand from Developing Countries
Market Leaders and their expansionary development strategies
On June 2021, The Hershey Company acquired of Lily's, the high-growth maker of low-sugar, better-for-you (BFY) confectionery products. The acquisition expands the product portfolio.
On December 2022, Perfetti Van Melle has launched of functional benefit variants of its Mentos Gum and Smint. Mentos Citrus Vitamin Gum is sugar-free and contains 25% of recommended daily vitamins B6, C and B12. The gums have a liquid-filled centre designed to give long-lasting freshness.
Key Target Audience
Functional Confectionary Manufacturers, Functional Confectionary Raw Material Suppliers, Functional Confectionary Traders/Distributors, Functional Confectionary Importer/Exporter, Regulatory & Government Bodies, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.