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.
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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.
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.
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