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.
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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: 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.