Flavor Fusion to Boost Confectionery Market
Technavio notes that growing popularity in flavor combinations will bolster U.S. market through 2019
Technavio has published a new report on the confectionery market in the US, which is expected to grow at a CAGR of almost 2% from 2015-2019.
About the Report
According to the latest report by Technavio, consumers today are increasingly becoming health conscious and prefer low-fat and low-calorie products. This has led manufacturers to expand their options in viability of sugar-free chocolates and non-chocolates confections.
“Hershey, a leading manufacturer, has replaced sugar content with maltitol and polyglucitol, which claims to have 20% less calories than its sugar infused chocolates,” says Faisal Ghaus, Vice President of Technavio.
The latest report by Technavio also emphasizes the growing popularity of flavor fusion. With high demand from consumers for different taste, manufacturers are coming up with the addition of various organic flavors to meet the growing demand.
“With the exploration for new flavors, manufacturers are adding alcoholic and non-alcoholic flavors and developing wine and spirits infused chocolates during seasonal sales. The increasing demand from consumers enables manufactures to introduce innovative products, which will elevate the confectionery market in the US during the forecast period,” adds Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the confectionery market in the US from 2015-2019. To calculate the market size, the report takes into account revenue generated from retail sales of confectionery products.