LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global medicated confectionery market to grow to USD 6.03 billion by 2021, at a CAGR of more than 3% over the forecast period, according to their latest report.
The research study by Technavio on the global medicated confectionery market for 2017-2021 provides a detailed industry analysis based on the product (candies/lozenges; and gums and chewing gums) and geography (the Americas, APAC, Europe, and MEA).
Medicated confectionery refers to sugar boiled confectionery that is used as a remedy for cough and throat infections. Hard boiled candies or lozenges are the leading product segment of the global medicated confectionery market, generating more than 80% of the overall revenue. The use of these products to treat hay fever, cough, and other cold-related issues is expected to drive market segment.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global medicated confectionery market:
- Smoking ban in public places
- Increasing hay fever and allergy cases
- Growing demand for sugar-free medicated confectionery
Smoking ban in public places
Smoking is banned in several public spaces by criminal laws and occupational safety and health regulations. This ban in public places across the world is aiding the market in growing as more people are switching to medicated confectionery such as mint-based candies or chewing gums instead to curb the habit.
“People who have quit smoking tend to seek alternatives to keep them engaged, which is resulting in increasing adoption of medicated confectionery. This is acting as a key factor positively impacting the adoption of medicated confectionery such as throat sweets and breath fresheners,” says Manjunath Reddy, a lead analyst at Technavio for food research.
Increasing hay fever and allergy cases
Globally, the number of incidences of hay fever and other allergies is positively impacting the medicated confectionery market. The more frequent occurrences of cold and cough during winter months increases the demand for medicated confectionery to soothe the throat itch. Also, increasing levels of pollutions and allergies are resulting in rising demand for medicated confectionery. The hay fever season in spring and summer is another important time, which vendors capitalize on to boost sales of medicated confectionery market.
Growing demand for sugar-free medicated confectionery
“There is a general increase in awareness and health consciousness among consumers, driving the demand for low-sugar and sugar-free medicated confectionery. In European countries like France and Spain, sugar-free medicated confectionery accounted for one-third of the total sales,” says Manjunath.
To keep up with the changing consumer preferences, the key market vendors are adding low-calorie and sugar-free alternatives to their product lines. These sugar-free products are more preferred, driven by brand awareness and marketing campaigns by manufacturers such as Wrigley.
Browse Related Reports:
- Global Gluten-Free Food Market 2017-2021
- Global Sugar-Free Food and Beverages Market 2017-2021
- Global Diabetic Food Market 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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