Market Trends of Medicated Confectionery Industry
Increasing Demand for Fortified Confectionary Products
- Due to shifting consumer preferences and a greater focus on health and wellness, there has been a significant increase in the awareness and demand for natural herbal products in the market. Consumers are increasingly seeking natural and organic options that provide various health benefits, including herbal confectioneries containing ingredients like guarana and ginseng and extracts such as green tea and superfruits that offer antioxidants to boost the immune system. As a result, natural herbal products have become a prominent trend in the market and are expected to continue gaining popularity.
- In addition, consumers are increasingly choosing medicated confectionery products such as snack bars and meal bars over traditional confectionery products due to health concerns such as diabetes, cholesterol, high blood pressure, and dental problems.
- The demand for sugar and chocolate-based medicated confectionery is also increasing among children and millennials, leading to a rise in product innovation. Market players are now launching products with minimal or no sugar or additives. For example, in October 2022, Perfetti Van Melle launched two new formats for its brands, Mentos and Smint sugar-free mints. Smint is now available in a recyclable pocket-sized format, making it more convenient for consumers to carry.
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Asia Pacific to Drive the Largest Market
- China is currently dominating the medicated confectionery market in the Asia-Pacific region, followed by Japan. The market size for medicated confectionery in Asia-Pacific is growing rapidly. This growth can be attributed to the increased demand for herbal-infused products due to their health benefits. Medicated confectionery is in high demand, especially during the winter when colds and coughs are prevalent.
- Moreover, the online market for confectionery products, including medicated confectionery, has seen significant growth globally in recent years, thanks to the increasing internet penetration. India, China, and Japan have the most abundant herbal medicinal sources. The use of various herbal and ayurvedic plants like ashwagandha, ginseng, ginkgo Biloba, and others is also increasing in the confectionery market.
- For instance, in May 2021, two entrepreneurs in India launched the Ayurveda-inspired functional chocolate brand Awsum. Designed to help the urban working millennials deal with their modern-day lifestyle disorders, Pranav Sharma and Kritik Thakur launched India's first functional chocolate brand, Awsum. It is the first chocolate brand that uses Ayurvedic principles to make products healthier without compromising taste. Awsum combines the ancient wisdom of Ayurveda with premium dark and milk chocolate to create exciting products with functional benefits.
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