Description
Global Medicated Confectionery Market Research Report—Forecast till 2026
Global Medicated Confectionery Market Overview
Global Medicated Confectionery Market is anticipated to witness a significant CAGR of 4.51% to surpass USD 6,861.0 Million during the review period. Medicated confectionery consists widely used in the manufacturing of drugs for many conditions such as minor throat irritations, coughs, colds, respiratory tract congestion, and allergies.
The major competitors of medicated confectionery are introducing new products and market strategies to gain competitive advantage globally. Additionally, due to the current outbreak of Covid-19, the governments in various countries have ordered the manufacturing of only essential products and medicated confectionery does not fall under essential commodities is expected to limit the market for some extent of time.
Global Medicated Confectionery Market is estimated to register a notable market growth during the review period owing to the rising consumption of confectionery products over the last few years. The global market growth is driven by product inventions based on formulations and innovative packaging.
The popularity of medicated confectionery has increased because of the retention time of the dosage form in the oral cavity which bolsters bioavailability, minimizes gastric irritation, and enhances metabolism rate.
The rapidly expanding organized retail sector is expected to propel the global medicated confectionery market during the forecast period. However, the rising obesity and diabetes among the consumers are expected to hinder the growth of the global medicated confectionery market during the review period.
Market Segmentation
Global Medicated Confectionery Market by Type, Category, and distribution channel. Based on type segment the global market has been classified into Hard Candies, Soft Confectioneries, Chewing Gums, Gummies & Jellies, Pastilles, and Others. In terms of the Category segment, the market has been bifurcated into Sugar-Based, Sugar-Free.
In terms of distribution channel, the global medicated confectionery market has been categorized into store-based and non-store based. The store-based segment is further divided into supermarkets & hypermarkets, specialty stores, discount stores, and others.
The store-based segment is estimated to lead the global market and reach USD 5,595.6 million during the review period. The non-store-based segment is estimated to exhibit a significant CAGR of 4.59% during 2020-2026.
Regional Analysis
Geographically, the Global Medicated Confectionery Market has been spread across North America, Europe, Asia Pacific, and the Rest of the world.
Asia-Pacific is expected to command the market with a projected CAGR of 4.69% during the review period of 2020 to 2026. In 2019, the region accounted for 41.84% of the global market.
China contributes the leading medical confectionery market to the growth of the Asia-Pacific market. The regional market is attributed to the growing organized retail sector in the developing economies of Asia-Pacific during the forecast period.
Major Players
The Key players in the global medicated confectionery market are 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).
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries.
Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
