Jul 10, 2020 7:57 PM ET
iCrowd Newswire – Jul 10, 2020
Medicated confectionery is a type of confectionery valued with active ingredients having medicated attribute such as reduction in throat irritation, cold, cough, respiratory congestion, allergies, and others. They are available in different types in the market such as pastilles, hard candies, chewing gums, and others. Growing incidence of allergies and other issues caused due to air pollution is driving the growth of the market.
Smoking bans in the U.S., the U.K, and Western Europe is also anticipated to influence the growth of throat sweets and breathe fresheners. Moreover, growing awareness among the population regarding speedy treatment for minor ailments or augmentation is boosting the growth of the market. Continuous initiatives by the key players to enhance the product quality through flavor, packaging, functionality, and others is influencing the growth of the medicated confectionery market. However, fluctuating prices of raw materials may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the projected CAGR of 3.2% of the medicated confectionery market during the forecast period, 2020-2024. Medicated confectionery is growing tremendously over the past few years. The hay fever seasons during the winters, springs, and summers majorly drive the growth of the medicated confectionery market. Moreover, growing cases of allergies among the children in the U.K is boosting the growth of the market.
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Major Key Players
Some of the key players profiled in the Global Medicated Confectionery Market Mondelez International (U.S.), Ricola (Switzerland), Perfetti Van Melle (Italy), Wm. Wrigley Jr. Company (U.S.)Procter & Gamble Co (U.S.), Reckitt Benckiser (U.K) and Nestle (Switzerland)
Global COVID-19 Impact on Medicated Confectionery Market is segmented into type, function and distribution channel.
On the basis of the function, the medicated confectionery market is segmented into throat irritation, respiratory congestion, allergies, and others. Among all, throat infection segment is observed to be dominating the market. However, the allergies segment is anticipated to be the fastest growing segment over the estimated period.
On the basis of the type, the medicated confectionery market is segmented into hard candies, pastilles, chewing gums, and others. Among them, the hard candies segment is anticipated to be dominating the market and projected to have a substantial growth over the forecast period.
Based on the distribution channel, the medicated confectionery market is segmented into store-based and non-store based. Among them, the store-based distribution channel is dominating the market and is projected
Global Medicated Confectionery Market is segmented into Europe, North America, Asia Pacific and rest of the world (RoW). North America is leading the medicated confectionery market followed by Europe. The low temperature in the regions of the U.S. and Canada majorly drives the need for medicated confectionery among the population.
Asia Pacific is expected to be the fastest growing region over the forecast period. India, China, and Australia are the major contributors in this region. Brazil is anticipated to grow at a decent rate in consumption of medicated confectionery over the forecast period.
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