Oct 20, 2019 (WiredRelease via COMTEX) -- Confectionary is the art of making products that are rich in sugar and carbohydrates. Although there is overlapping, confectionary is divided into two categories namely bakers’ confections and sugar confections. Confectionery products are typically low in nutrients and high in calorie content. However, rise in awareness regarding healthcare has led confectionary market players to opt for sugar substitutes such as sorbitol, mannitol, lactitol, and maltitol.
Increasing demand for sugar-free, low-calorie, and organic products are expected to drive the global confectionary market during the forecast period. Chocoladefabriken Lindt & Sprüngli A.G. and The Hershey Company are some of the players offering sugar free chocolates, mints, toffees, candies, and jellies.
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However, rise in cost of raw material is expected to hamper the global confectionary market during the forecast period. For instance, cocoa prices have been fluctuating in the recent past due to erratic production and supply demand imbalance. According to the International Cocoa Organization (ICCO), prices have fluctuated between US$ 2000/ton and US$ 3000/ton since 2014. The ICCO recommends that producers either reduce the volume of chocolate products or raise prices to achieve profitability in such market conditions.
Global Confectionery Market Taxonomy:
On the basis of product type, global confectionery market is segmented into:
On the basis of distribution channel, global confectionery market is segmented into: