Functional Confectionery Market is Likely to Upsurge at USD 2.98 billion by 2029, at a CAGR of 9.10%, Size, Share, Trends, Global Demand, Growth and Opportunity Analysis
“The Functional Confectionery Market research report is a comprehensive and invaluable resource for businesses, enabling informed decision-making and enhancing marketing strategies, ultimately leading to business growth. This report estimates growth rates and market values based on dynamic market factors and growth drivers. It thoroughly analyzes and discusses significant industry trends, market size estimations, and market share data. Competitor analysis, a pivotal component, assesses the strengths and weaknesses of competitors and their strategies in both product and market aspects.
The creation of this high-quality Functional Confectionery Market report is marked by unwavering commitment and transparency in research and analysis. The report delves into numerous market drivers and constraints, derived from SWOT analysis, and provides CAGR projections for the historical, and the forecast period spanning . It highlights prospective opportunities in emerging geographical markets and offers a comprehensive analysis of market segmentation, patents, and major market players, presenting a competitive landscape. In today’s fiercely competitive market, businesses continually strive to find better solutions in terms of product trends, future products, marketing strategies, and future developments. The excellent Functional Confectionery Market report assures organizations of gaining in-depth knowledge and insights into the new regulatory environment that suits their operations.
The functional confectionery market is an example of a non-age-restricted segment. For the vast majority of the world’s population, age has never impeded indulging in functional to satisfy their taste buds. For over a decade, the market has been growing steadily, and innovations in flavours and textures contribute to the market’s expansion. Furthermore, the growing number of consumers drawn to the outlandish trends of organic functional and no added sugar functional is fuelling such experiments, thereby contributing to the functional confectionery market.
Data Bridge Market Research analyses that the functional confectionery market which was growing at a value of USD 1.8 billion in 2021 is expected to reach the value of USD 2.98 billion by 2029, at a CAGR of 9.10% during the forecast period OF 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
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Report Scope and Market Segmentation
| REPORT METRIC | DETAILS |
| Forecast Period | 2022 to 2029 |
| Base Year | 2021 |
| Historic Years | 2020 (Customizable to 2019 – 2014) |
| Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
| Segments Covered | Nature (Organic, Conventional), Type (Sugar Confectionery, Bakery Confectionery, Chocolate Confectionery), Function (Cognitive Wellness, Performance Enhancers, Wellness Enhancers, Oral Care, Others), Ingredients (Protein, Omega 3 and Omega 6, Vitamins and Minerals, Probiotics, Others), Application (Children, Middle Age, Senior, Youth), Distribution Channel (Direct Sales, Indirect Sales) |
| Countries Covered | U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
| Market Players Covered | Barry Callebaut (Switzerland), Olam International (Singapore), The Hershey Company (U.S.), Mars, Incorporated (U.S.), Ingredion Incorporated (U.S.), Koninklijke DSM N.V. (Netherlands), Kerry Group plc (Ireland), and Tate & Lyle PLC (U.K.), Nestle SA (Switzerland), Cargill, Incorporated (U.S.), Blommer Chocolate Company (U.S.), Foley’s Candies LP (Canada), Puratos Group Nv (Belgium), Ferrero International S.A. (Italy) |
| Opportunities |
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Market Definition
Functional confectionery refers to candy or snacks that have been enhanced with additional health benefits. These items may be intended to improve oral health, provide energy, or strengthen the immune system. Functional confectionery can also be used to provide the body with vitamins and minerals.
Functional Confectionery Market Dynamics
Drivers
- Rising expansion of retail channel for distribution of products
One of the major trends driving the evolution of the functional confectionery market is advancements in online retail. Convenience stores, supermarkets, specialty stores, drug stores, and hypermarkets are all large distribution channels for products. Continuous efforts by retailers and manufacturers to expand their supply and distribution chain have played an important role in increasing access to products in the Functional Confectionery market.
- Diversification of products according to the needs
The constant desire to try new ethnic flavours and tastes is a major driving force in the functional confectionery market. Over the years, the functional industry has shifted its focus to producing healthier products. The growing health-conscious population, particularly in emerging economies, is driving this trend. The evolution of the functional confectionery market has been fuelled by advances in organised retail in developing regions.
Opportunity
The ease of payment for products through online channels, as well as the wide range of functional flavours and textures, are important factors driving the popularity of e-commerce in the functional confectionery market. Furthermore, Functional confectionery is increasingly being used in the formulation of a wide variety of beverages and confectionery products, such as cakes, milkshakes, croissants, and hot functional, which is contributing to the global functional confectionery market’s growth.
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The COVID-19 outbreak has had a significant impact on the confectionery market. The strict rules and lockdown implemented throughout 2020 have had an impact on the confectionery industry, causing differential impact on raw material supply (agricultural produce, food ingredients, and intermediate food products), trade & logistics, demand-supply volatility, uncertain consumer demand, and affecting the workforce at the industrial level. One of the major factors affecting the confectionery industry during the lockdown was a drop in sales as a result of decreased gifting and impulse buying among consumers worldwide.
Recent Development
- Hershey’s created a functional bar in February 2022 to commemorate All Women and Girls. The “Celebrate SHE” bars are a limited edition. SHE was highlighted in the centre of the milk functional bar by the brand.
- Cadbury, a brand of Mondelez International, introduced the Twist Wrap packaging solution for its Duos range in January 2022, allowing consumers to snack in small portions by twisting and sealing the package after consuming half of the functional bar.
- In collaboration with Lagardère, Ferrero will pre-launch the new Ferrero Rocher Tablets in the travel-retail channel in September 2021. Ferrero enters the functional tablet market with the new product, which is available in three flavours: milk, dark 55 percent cocoa, and white.
- Mars will launch two new vegan functional bars in January 2021, just in time for Veganuary. Following the release of its first free-from functional, Galaxy Vegan, in 2019, the company has released vegan versions of two of its most iconic functional bars, Bounty and Topic.
How Functional Confectionery Market Report Would Be Beneficial?
- Anyone who are directly or indirectly connected in value chain of Functional Confectionery Market industry and needs to have Know-How of market trends
- Marketers and agencies doing their due diligence
- Analysts and vendors looking for Functional Confectionery Market intelligence about Functional Confectionery Market Industry
- Competition who would like to correlate and benchmark themselves with market position and standings in current scenario
Radical conclusions of the report:
- Industry overview with a futuristic perspective
- Analysis of production costs and analysis of the industrial chain
- Full regional analysis
- Benchmarking the competitive landscape
- Functional Confectionery Market growth trends; current and emerging
- Technological developments and products
- Comprehensive coverage of market factors, restraints, opportunities, threats, limitations, and outlook for the Market
- SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and ROI Analysis
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