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Medicated Confectionery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • ID: 4534365
  • Report
  • June 2022
  • Region: Global
  • 80 Pages
  • Mordor Intelligence

FEATURED COMPANIES

  • Baker Perkins Limited
  • Bartek Ingredients Inc.
  • Mastix LLC
  • Novus Cannabis Medplan
  • Perfetti Van Melle Group
  • Ricola Group
The global medicated confectionery market is growing at a CAGR of 4.3% during the forecast period (2022-2027).

The COVID-19 had a significant effect on the medicated confectionery market. The buying pattern of consumers was changed during the pandemic, this was because the consumers were aware of their health. The major consumption of these products was to avoid the coronavirus, as the symptoms of the virus were cough, cold, throat irritation, etc., therefore, consumption of these products was relaxing the consumers from such health issues, thus the pandemic has a positive effect on the market. For instance, the Schenck Process Group, which is a top player in this segment has estimated growth of 32% in the third quarter of fiscal 2021.

The market is mainly driven by the rising consumer preference towards a healthy lifestyle coupled with a shift in consumer taste preference and rising spending on confectionery products. In addition, innovation by the leading players such as sugar-free and organic chocolates are further contributing to the growth of the global market.

However, the decreased availability of the sugar substitutes and development of artificial sweeteners have shifted preferences of consumers towards artificial sweeteners and is thus restraining the market. In addition, frequent product launches play a vital role in the growth of the market.

Key Market Trends


Increasing Demand for Cough Suppressants


The demand for cough suppressants is rising around the globe. This is because of the fact that these products have medicinal benefits in them which help in clearing congestion and making breathing easier. According to the Centers for Disease Control and Prevention of the United States, the consumer having sore throats can recover within 7 to 10 days. Also, the major factor that plays a significant role in the elevation of the demand is the smaller size of the product, due to this size factor it can be carried out along with the consumer. Eventually, due to the changing lifestyle of the consumers, the awareness towards natural herbal products is also rising in the market. Herbal confectioneries, which include ingredients such as guarana, ginsengs impart energy while extracts, such as green tea, superfruits provide antioxidants that boost immune is gaining attraction due to natural and organic nature and their health claim. Thus, the demand for cough suppressants is rising, which is one of the reasons that drive the medicated confectionery market in the globe.



Asia Pacific to Drive the Largest Market


China dominates the medicated confectionery market in Asia-Pacific, which is followed by Japan. Asia-Pacific medicated confectionery market size is growing at a faster rate. Increased demand for herbal infused products due to its health benefit is driving the market. Medicated confectionery has high demand mainly during winters due to the increased influence of cold and cough. Despite the economic slowdown on consumer goods in China, medicated confectionery has performed well. Also, with the increasing internet penetration, the online market for the purchase of confectionery products including medicated confectionery has seen rapid growth globally in the last 3-4 years. This category has attracted a few vertical specialists like Amazon, Walmart, Carrefour, etc. who are riding on increasing e-retailing growth and vying for a significant pie in online market space.



Competitive Landscape


The global market for medicated confectionery is competitive in nature, owing to the presence of domestic players in different countries. Some of the major players in the segment are Procter & Gamble Company, Mastix LLC, Schenck Process Group, Ernest Jackson & Co, and Ricola Group. The key players are majorly focusing on product development and product innovation to meet the consumer's needs by offering a variety in taste and in the product's quality to maintain premiumization. Some of the major players use mergers and acquisitions as their key strategy.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Baker Perkins Limited
  • Bartek Ingredients Inc.
  • Mastix LLC
  • Novus Cannabis Medplan
  • Perfetti Van Melle Group
  • Ricola Group

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Confectionery Type
5.1.1 Chocolate
5.1.2 Snack Bars
5.1.3 Candy & Sugar Confectionery
5.1.4 Gum & Mint
5.2 By Distribution Channel
5.2.1 Supermarkets and Hypermarkets
5.2.2 Convenience Stores
5.2.3 Pharmaceuticals
5.2.4 Online Retail
5.2.5 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Italy
5.3.2.6 Spain
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Ricola Group
6.4.2 Mondelez International, Inc (Ernest Jackson)
6.4.3 Baker Perkins Limited
6.4.4 Mastix LLC
6.4.5 Bartek Ingredients Inc.
6.4.6 The Procter & Gamble Company
6.4.7 Schenck Process Group
6.4.8 Novus Cannabis Medplan
6.4.9 Reckitt Benckiser Group Plc
6.4.10 Perfetti Van Melle Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS8 IMPACT OF COVID-19 ON THE MARKET
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Ricola GroupMondelez International, Inc (Ernest Jackson)
    Baker Perkins Limited
    Mastix LLC
    Bartek Ingredients Inc.
    The Procter & Gamble Company
    Schenck Process Group
    Novus Cannabis Medplan
    Reckitt Benckiser Group Plc
    Perfetti Van Melle Group
Note: Product cover images may vary from those shown

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