The global diet candy market is experiencing a significant growth, and will grow considerably in next few years owing to the increasing health consciousness among consumers. Diet candy is a low calorie and low sugar confectionery item. Diet candy helps in reducing craving for sweets. Diet candies are is two types viz. nutritive and non nutritive. Nutritive candies are mild in taste and manufactured by incorporating added nutrition, whereas, non nutritive candies do not contain any nutrition. Diet candies come in the form of bars, hard candy, and chew candy among others. Diet candies are easily available at retail stores, hypermarket or supermarket as well as at online channels.
COVID-19 Scenario Analysis:
The COVID-19 virus outbreak in all over the globe has created medical emergency. Due to which the demand for food items, hygiene products and medical product market are growing. The COVID-19 has increased the sales of traditional, healthy and staple food items. The frozen non-veg food, fruits& vegetables, eggs, pulses, flour and whole grains are experiencing growth in the COVID-19 scenario. However, packaged foods, coffee, pastries, milkshakes, sweets, chocolates and other bakery products have experienced a decline in its sale due to which the demand for diet candy being also decreased to a significant level. In addition the lockdown scenario in various countries has hampered the production and supply chain of the diet candy makers. The consumer buying behavior may change permanently post COVID-19. Companies have to build robust sales plan for recovery. They might have to adopt e-commerce platform and omnichannel in their supply chain.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Surge in demand for low calorie sugar, adoption of healthy diet and healthy lifestyle, awareness among people about the disadvantages attached with the consumption of sugar drive the global diet candy market.
There is significant rise in the patients of diabetes and obesity in the developed economy due to unhealthy lifestyle. Diet candy is used as a healthy substitute for sugar and high calories candies due to its low calorie properties. Therefore its consumption by health conscious people is increasing to reduce the craving for sweets which in turn helps the diet candy market to remain profitable.
In addition, the easy availability of diet candies at offline and online channels is surging the demand of the product. Moreover diet candies come in large varieties such as sugar free candy, chewy candy, chocolate bars and others.
The cost of production of diet candy is higher than simple candies. Further, the consumption of diet candy triggers a sugar spike and body starts craving for more sweets. Diet candies also contain chemicals which are unhealthy for the body if taken in excessive amount and can cause digestive problems. These are less preferred by consumers as sometimes customer ends up eating more calories than traditional sweets or candies. These factors are expected to hinder the diet candy market growth.
The global diet candy market trends are as follows:
New product launches to flourish the market
The launches of new products have been launched by leading market players. The market players are focusing on expanding their product portfolio to serve the increasing demand for variety of flavors of diet candy in the market.
Owing to the changing trends of consumer’s taste and preference regarding food habits, the leading market player are giving priority to launching sugar free diet candy and enhancing their market penetration. For instance, in 2019, DS Group launched sugar free and no salt candy and named it “pulse zero”.
Key Benefits of the Report:
- This study presents the analytical depiction of the global diet candy industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global diet candy market share.
- The current market is quantitatively analyzed to highlight the global diet candy market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global diet candy market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Diet Candy Market Research Report:
- What are the leading market players active in the diet candy market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Diet Candy Market Report Highlights
By DISTRIBUTION CHANNEL
Key Market Players
Nestle, Carmit Candy, Tootsie Roll, Toms Confectionary, Canel, Russel Strover, Twizzlers TruJoy Sweets, Hersey, Mars