Global Medicated Confectionery Market is projected to be valued at USD 6,861.0 Million by 2026, expanding at a CAGR of 4.51% during the forecast period. Medicated confectionery consists of formulations of active ingredients such as antacids, fruit vitamins extracts, and herbal extracts. They are formulated as confectionery products. They are used for many conditions such as minor throat irritations, coughs, colds, respiratory tract congestion, tooth whitening, allergies, and to quit smoking. The global medicated confectionery market is projected to grow at a significant pace during the forecast period. Health benefits associated with medicated confectionery is driving the growth of the market. The growth of the organized retail sector in Asia-Pacific is contributing to market growth. New product development is anticipated to create an opportunity for the manufacturers of medicated confectionery. However, increasing obesity and diabetes among the consumers is likely to hamper the market growth.
Market Research Future recognizes 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) as the Key Players in the Global Medicated Confectionery Market.
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By type, the market has been divided into hard candies and soft confectioneries. The soft confectionery segment is further divided as chewing gums, gummies & jellies, pastilles, and others. The hard candies segment accounted for the maximum market share in 2019, whereas the soft confectioneries segment is expected to register a highest CAGR of 4.58% during the forecast period. Hard candies, also referred to as boiled sweet, are made by boiling one or more sugar syrups at 160 °C temperature. In case of sugar-free hard candies, usually isomalt and maltitol are used as a sugar substitute and artificial sweeteners are added to enhance sweetness. Medicated hard candies have for a long time been associated with cough drops. Such candies accurately replicate the properties of modern cough drops and offer an additional extended flavor release.
By category, the market has been divided into sugar-based and sugar-free. The sugar-based segment accounted for a maximum market share in 2019, whereas the sugar-free segment is expected to register a higher CAGR of 4.66% during the forecast period. The sugar-free segment includes medicated confectionery made from sugar alternatives such as maltitol, xylitol, and other such alternative sweeteners. Increasing health conscious customer base is driving the growth of the sugar-free segment.
Based on distribution channel, the global medicated confectionery market has been classified as store-based and non-store-based. The store-based segment is further divided into supermarkets and hypermarkets, specialty stores, discount stores, and others. The store-based segment accounted for a dominant share of the market in 2019 in terms of value. The supermarkets and hypermarkets sub-segment is expected to be the largest as these channels account for the maximum sales of medicated confectionery. Convenience & specialty stores also play a significant role in the distribution of medicated confectionery. Discount stores also contribute to the sales of medicated confectionery, especially in terms of volume sales, as they offer products at discounted rates and ongoing buying schemes for the customers throughout the year.
Geographically, the global medicated confectionery market has been categorized as North America, Europe, Asia-Pacific, and the Rest of the World. As per MRFR analysis, Asia-Pacific dominated the market, accounting for the largest share in 2019. The Asia-Pacific medicated confectionery market is projected to register a CAGR of 4.69% during the forecast period.
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