The popularity of sweet treats is going up all around the world in recent years. There are a few reasons why the confectionery market is growing. One big reason is that companies are coming up with new ideas for making these sweets, like changing the ingredients they use and creating cool packaging. Alongside the regular sweets, there's also been a rise in demand for medicated confectionery globally. Medicated confectionery is seen as a different way to take medicine. Instead of the usual pills and capsules, these are like candies that you don't need to swallow—they dissolve in your mouth. This makes it easier, especially for kids and older people. Medicated confectionery stays in the mouth longer, which helps the medicine work better, reduces stomach problems, and improves how the body absorbs it. It's often used for things like colds and coughs or as a way to get extra nutrients. The increase in coughs, colds, and throat issues among people is expected to boost the sales of medicated confectionery. In the U.S., for example, over 25% of people between 18 and 30 years old get sick more than five times a year. On the other hand, there's a growing trend for gummies with healthy ingredients like vitamins, omega-3 fatty acids, proteins, minerals, and probiotics. Medicated gummies are becoming very popular worldwide. Parents like giving these medicated candies to their kids because they're more attractive than regular supplements. Also, there's a rising demand for confectionery that's good for oral health. These products not only keep your teeth white but also act as breath fresheners. People are becoming more conscious about taking care of their teeth, which is why they're buying more oral confectionery products. So, the health benefits of medicated confectionery are expected to make it even more popular in the coming years.
In conclusion, the confectionery market is growing, thanks to new ideas and innovations. Medicated confectionery, which is like candy with medicine, is gaining popularity as it's an easier way to take medicine, especially for kids and older people. It stays in the mouth longer, making it work better and reducing stomach issues. People are using it for things like colds and coughs or to get extra nutrients. With more people getting sick often, the sales of medicated confectionery are expected to go up. Additionally, there's a trend for healthier gummies with good ingredients, and medicated gummies are becoming a hit worldwide. Parents prefer them for their kids because they're more appealing than regular supplements. There's also a growing demand for confectionery that's good for oral health, keeping teeth white and providing fresh breath. People are becoming more conscious about taking care of their teeth, leading to an increase in the sales of oral confectionery products. Overall, the health benefits of medicated confectionery are likely to drive its growth in the future.
Medicated Confectionery Market is anticipated to be worth USD 2.60 billion, and Growing from 2024 to 2032 at a CAGR of 4.30%. Medicated confectionery comprises active component formulations such as antacids, fruit vitamin extracts, and herbal extracts. Medicated confectionaries are mostly used to manufacture medicines for various ailments such as congestion, cough, throat inflammation, colds, and others. The rise in consumer preference for a healthy lifestyle is one of the key factors anticipated to boost the market growth for medicated confectionery during the forecast period. The market for medicated candy is also expected to develop due to changing consumer preferences and rising sugar-related costs. Additionally, more cases of cough, cold, throat irritation, and other illnesses are treated with functional sweetness, which is predicted to slow the market for medicated confectionery growth.
COVID-19 significantly impacted the market for medicated confectionery as people were more concerned about their health during the pandemic, and customers' purchasing habits changed. Since the coronavirus symptoms included coughing, colds, throat discomfort, etc., these products were mainly consumed to prevent the virus, resulting in market growth. Consequently, the pandemic has had a favorable impact on the market.
Coughs, colds, throat discomfort, and other conditions that can be treated with edible candies have become more prevalent in recent years. Additionally, several industries' investments in high-product innovation from market leaders like sugar-free and organic chocolates are helping to fuel the expansion of the global industry. The regular product launches are significantly contributing to the industry's expansion. Some widely used medicated confectionery products are pastilles, chewing gums, and powerful candies. Children can easily and quickly consume these medications, increasing market demand. For instance, in April 2020, to increase Halls XS's visibility in Singapore, Mondelez International, the company that owns the renowned medicated confectionery brand Halls, introduced Halls XS Honey Lemon.
Drivers
Cough suppressants are becoming increasingly popular around the world. This is due to the therapeutic properties of these products, which aid in removing congestion and making breathing easier. According to the Centers for Disease Control and Prevention in the United States, consumers with sore throats can heal in 7 to 10 days. As customers' lifestyles change, so does their awareness of natural herbal goods. Herbal confectioneries, which include components such as guarana and ginseng, provide energy, while extracts like green tea and superfruits provide antioxidants that promote immunity and are gaining popularity due to their natural and organic origin, as well as their health claims. Thus, the need for cough suppressants is growing; this is one of the factors driving the global medicated confectionery application market.
Restraints:
Due to quick changes in production and demand on the international market, the price of raw materials needed to make medicated confection has fluctuated over the past few years. The raw material is impacted by poor weather, agricultural diseases, labor availability, stock ratios, and other economic issues that impede the smooth exchange of supply and demand in the market. The annual price of the raw materials varies, as a result, going from low to high, which causes an excess or understock of the raw materials needed to make the sugar and chocolate goods sold on the market. Thus, it is anticipated that the overall demand will be muted in the next year by changes in raw material prices.
Opportunities:
The need for convenience snacks as part of the daily diet is mostly driven by growing modernization and a hectic combination of work and personal commitments. Due to their hectic schedules, customers cannot spend time cooking or dining out during their working hours, which makes them search for food products that are simple and quick to prepare. Furthermore, because more consumers are in the workplace, it is difficult for them to maintain a healthy work-life balance. To provide consumers with a balanced diet, manufacturers and marketers are actively creating and promoting a variety of chocolate snacks, including bars, on-the-go snacks, and others. The rising popularity of chocolate among young people and other working populations is expected to fuel the expansion of the medicated confectionery market in the forecast period.
Segment Overview
By Type
Based on type, the global medicated confectionery market is divided into hard candies and soft confectioneries. The hard candies category had a prominent share in 2021. With more than 80% of the total revenue coming from sales, hard-boiled candies or lozenges are the market's most profitable product category. The category is anticipated to rise due to the usage of these products to treat hay fever, coughs, and other cold-related symptoms.
By Category
Based on category, the global medicated confectionery market is divided into sugar-based and sugar-free. The sugar-free category had a prominent share in 2021. Consumer knowledge and health consciousness are generally rising, fueling demand for low-sugar and sugar-free medicated candy. The major market suppliers are expanding their product ranges to include low-calorie and sugar-free options to stay current with shifting consumer tastes. Due to increased brand recognition and marketing initiatives by producers like Wrigley, these sugar-free goods are more popular.
By Distribution Channel
Based on the distribution channel, the global medicated confectionery market is divided into store-based and non-store based. The store-based category had a prominent share in 2021. Supermarkets and hypermarkets are receiving a lot of support from customers worldwide. The flexibility of choice, wider product selections, and bundling programs provided by the mass merchandisers have all contributed to consumers' growing reliance on these facilities, increasing foot traffic on the floor. Due to their hectic schedules and busy lives, consumers prefer to buy groceries in bulk for a set period. Thus, store-based distribution channels give customers a convenient shopping experience all under one roof.
Global Medicated Confectionery Market Share by Region, 2021 (%)
By region, the global medicated confectionery market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Europe accounted for the most extensive market share. Asia-Pacific is projected to exhibit the highest CAGR during the review period.
Europe
In 2021, the North American medicated confectionery market had the largest share because of the chocolate candy industry domination. Significant players will also help the region's medicated confectionery market to grow over the forecast period. Additionally, it is projected that the region's medicated confectionery market will expand due to its population increase and new brands by established players. For instance, in 2020, the German-based Schenck Process Group acquired the well-known participant in this market, Baker Perkins. The acquisition was made to grow the company's revenue and bolster its main business.
Asia-Pacific
The Asia-Pacific medicated confectionery market is anticipated to encounter the fastest growth rate. Due to their health benefits, an increased need for herbal-infused products drives the market. For the increased influence of colds and coughs, medicated candy is in great demand, particularly during the winter. China leads the Asia-Pacific medicated confectionery market, followed by Japan. Despite the Chinese consumer goods industry's recession, medicated candy has performed successfully. In addition, with increased internet penetration, the global online market for purchasing confectionery items, including medicated candy, has grown rapidly in the previous 3-4 years. This sector has attracted a few vertical experts, such as Amazon, Carrefour, Walmart, and others. They capitalize on rising e-commerce growth and contend for a substantial online industry share.
Competitive Landscape
The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have global reach with diverse product portfolios. Companies such as Procter & Gamble Co., Reckitt Benckiser Group PLC, Mondelēz International Inc., Mars Incorporated, and Perfetti Van Mellare dominate the global medicated confectionery market due to product differentiation, strategic developments, financial stability, and diverse regional presence. The players are concentrating on supporting research and development. They embrace strategic growth initiatives, such as development, product introduction, joint ventures, and partnerships, to strengthen their market position and capture an extensive customer base. For instance, in 2021, PRAM, one of the top pharmacy consulting firms and Novus Cannabis Medplan teamed. Consolidating the company's research and development departments is the partnership's strategy, allowing the business to advance in product creation. Similarly, in 2021, mini sugar-free cough drops, a new product from Halls, a subsidiary of Mondelez International, have been introduced. The company is aiming to appeal to a large number of consumers by diversifying its product line.
Prominent players in the global medicated confectionery market include Procter & Gamble Co. (US), Reckitt Benckiser Group PLC (UK), Mondelēz International Inc. (US), Mars Incorporated (US), Perfetti Van Mell (Netherlands), Herbion International Inc. (US), LanesHealth (UK), Ricola (Switzerland), Lofthouse of Fleetwood Ltd. (UK), Baker Perkins(UK), and UHA Mikakuto (Japan).
Scope of the Report
Global Medicated Confectionery Market, by Type
Global Medicated Confectionery Market, by Category
Global Medicated Confectionery Market, by Distribution Channel
Global Medicated Confectionery Market, by Region
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Market Size and Forecast:
To identify and estimate the market size for the global medicated confectionery market segmented by type, category, and distribution channel by value (in US dollars). Also, to understand the consumption/demand created by consumers of medicated confectionery between 2024 and 2032
Market Landscape and Trends:
To identify and infer the drivers, restraints, opportunities, and challenges for the global medicated confectionery market
Market Influencing Factors:
To find out the factors which are affecting the sales of medicated confectionery among consumers
Impact of COVID-19:
To identify and understand the various factors involved in the global medicated confectionery market affected by the pandemic
Company Profiling:
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Intended Audience
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