ALBANY, N.Y, Aug. 17, 2020 /PRNewswire/ — Flavor-combining chewy candies are gathering steam as sugar confectionery products among millennials, with key affinity for tropical fruits. Expanding portfolio of fruit-flavored candy offerings in various shapes and packaging formats are propelling the expansion of the infused fruits jellies market.
Analysts at TMR affirm that manufacturers are focusing on innovating in premium juice concentrates to stay ahead in the competitive arc.
The global infused fruits jellies market is anticipated to clock a CAGR of ~4.7% during 2019 – 2029.
Key Findings of Infused Fruits Jellies Market Report
- Global valuation of the market was pegged at ~US$ 15 Bn in 2019
- Among the various product types, chewies accounted for the top share of ~75% in 2019
- Among the various packaging types, pouches held the leading market share of 36.9% in 2019
- North America currently dominates the global landscape
- This is followed by Asia Pacific excluding Japan
- Based on nature, conventional accounts for a large proportion of market shares
Infused Fruits Jellies Market: Key Driving Factors and Promising Avenues
- Growing affinity toward sugar-free infused fruit jellies and fruit combo chews with exotic flavors are fueling demand in the infused fruit jellies market.
- Introduction of fruit pulp and juices is a key trend boosting the market.
- The growing trend of premium juice concentrates is expanding avenues in the infused fruits jellies market.
- In recent years, jelly-based DIY recipes have witnessed extensive popularity.
- The demand in the infused fruit jellies market is also bolstered by the use of packaging that imparts increased convenience to consumers, such as squeezable containers equipped with easy-spread cups.
Infused Fruits Jellies Market: Competitive Assessment
Confectionery manufacturers are keen on expanding their product portfolio and constantly adding new flavors to attract consumers. They are trying new flavors based on tropical fruits. Of note, several of them are reiterating on the health benefits of chews and candies to urban as well as rural consumers.
Top brands are leveraging digital channels and engaging in aggressive marketing and promotion strategies to make infused fruits jellies popular. Prominent players in the infused fruits jellies have benefitted from fruit-flavored candy offerings.
However, the formation of crystals during preparation of jelly-based recipes may hinder their demand among consumers looking for DIY recipes. Key manufacturers are also leaning on premium juice concentrates to gain competitive edge over others.
North America was the leading regional market for infused fruits jellies in 2019. The regional market has been replete with lucrative opportunities for candy and chews manufacturers due to the growing popularity of these among baby boomers and millennials. In particular, tropically inspired candies have gathered huge steam.
Asia Pacific has been showing vast revenue potential. The opportunity generation is increasingly fueled by growing consumer affinity of fruit-flavored candy offerings. Focus of several players on enriching their product portfolio has cemented the revenue potential in the Asia Pacific infused fruits jellies market.