The global sugar confectionery market is estimated to grow at a CAGR of 3.5% during the forecast period. Rising demand for snack bars and increasing launches of healthier confectionery products are some pivotal factors encouraging market growth. The significant presence of millennials has led to the increased adoption of snack bars as a healthier snack which supports busy lifestyles and offers a healthy dose of fiber and protein. As per the Organization for Economic Cooperation and Development (OECD), in 2018, the percentage of the working-age population (15-64) in the UK, Germany, France, Italy, and Sweden was 63.8%, 65.0%, 62.1%, 64.0%, and 62.4%, respectively. A large number of these age group populations are primarily focused on exercise and dietary habits, which leads to increasing demand for energy and cereal bars to meet their nutritional requirements.
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As a result, several companies are focusing on launching new snack bars to cater to the needs of increased demand. For instance, in March 2020, CORE Foods, a provider of fresh, refrigerated snacking, declared the introduction of CORE ENERGY BARS. It is a new line of plant-based bars which is filled with probiotics, prebiotic fiber, natural caffeine, and protein to offer balanced nutrition. This new line of energy bars is available in three coffee shop-inspired flavors, including Caramel Coffee Crunch, Mocha Chip Espresso, and Strawberry Basil Tea. Such new products comprise 65 mg of natural caffeine and complement the brand’s current portfolio of fresh snacking options that allow consumers to enjoy these snack bars on-the-go.
Further, in June 2018, Clif Bar & Co. launched three new products, including CLIF Energy Granola, CLIF Fruit Smoothie Filled Energy Bar, and CLIF BAR Sweet & Salty. CLIF Fruit Smoothie Filled is the first United States Department of Agriculture (USDA) Certified organic energy bar which is inspired by blending bright, fruit flavors with nut and seed butter, and classic smoothie ingredients, to develop a deliciously creamy filling packed in the energy bar. CLIF Energy Granola brings a nutritious breakfast solution to the cereal aisle. It is produced with dried fruit, organic oats, seeds, almonds, and eight grams of plant-based protein. These are available in four tasty flavors, including Cocoa Almond, naturally flavored White Chocolate Macadamia Nut, Blueberry Crisp, and Cinnamon Almond. This energy bar contains 25 grams of whole grains and is gluten-free.
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Global Sugar Confectionery Market Segmentation
By Product
- Chocolate
- White and Milk
- Dark
- Sugar-Based Food
- Boiled Sweets
- Caramels and Toffees
- Mints
- Gums and Jellies
- Others
- Snack Bars
- Energy Bars
- Cereal Bars
- Others
By Distribution Channel
- Online
- Offline
- Supermarket/Hypermarket
- Convenience Stores
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
