Global Low Sugar Fudge Market - 2023-2030

Overview

Global Low Sugar Fudge Market reached US$ 740 million in 2022 and is expected to reach US$ 1180.2 million by 2030, growing with a CAGR of 6.01% during the forecast period 2023-2030.

Globally, consumers are concerned about their calorie intake due to the increasing prevalence of diabetes and obesity. Increasing consumer awareness regarding the adverse effects related to high sugar consumption is driving the need for low-sugar products. Low-sugar and sugar-free product demand is also growing in the snacking industry, especially in the confectionery field, which positively increases the market growth.

To meet the special dietary requirements of consumers such as reduced sugar and calorie content, manufacturers are also introducing new and innovative products into the market to attract more consumer base. The new launches satisfying consumer demand such as the use of natural ingredients and vegan product launches are expanding the market scope.

North America dominated the global low-sugar fudge market. According to the Centers for Disease Control and Prevention, about 37.3 million Americans are suffering from diabetes, covering about 11.3 % of the United States population. The region has a high demand for healthy alternatives to high-sugar and high-calorie products and reaching for low-sugar products driving the market growth.

Dynamics

Increasing Demand for Low-Sugar Products

Globally, there is an increased demand for reduced sugar or low-sugar products among health-conscious people to maintain healthy lifestyles. Consuming sugar-rich products leads to increased health risks like obesity and diabetes due to their high-calorie content. According to the World Health Organization 2022 statistics, more than 1 billion people globally are suffering from obesity, where 650 million people are adults and 340 million are adolescents.

The severity of obesity is increasing in children too, accounting for up to 39 million according to 2022, WHO statistics. Further, according to IDF Diabetes Atlas 2021, 537 million adults are living with diabetes in the world. The organization reports that the prevalence is increasing rapidly and is estimated to reach 643 million by 2030. With the increasing prevalence of obesity and diabetes globally, there is a greater need for low-sugar or sugar-free products to decrease calorie intake, driving the market growth.

Increased Demand for Healthy and Convenient Snacking Habits Among Global Consumers

Snacking habits are highly encouraged by all age group concerns around the globe. Fudges are used as one of the popular confectionery products that are accepted by all age groups consumers due to their taste and texture. Manufacturers are focusing on introducing new products in their product portfolios with the launch of innovative and trending products that are highly in demand among consumers.

The new low-sugar fudges are being introduced with the incorporation of fruits, nuts and other nutritional ingredients to enhance the product value and provide adequate nutrition to the consumer. The availability of low-sugar fudges in various flavor options helps in proving concerns with a wide range of choices.

High Cost of Low Sugar Fudge

The high cost of the product restrains the global low-sugar fudge market. Alternative low-calorie sweeteners such as stevia, monk fruits, and others that are used in the production of low-sugar fudge are expensive compared to the normal sugar used in conventional products, increasing manufacturing costs. The fluctuations in the raw material prices can lead to higher production costs for the producer affecting the final price costs.

Segment Analysis

The global low-sugar fudge market is segmented based on type, sweeteners, distribution channel, end-user and region.

High Demand for Natural Products

The global low-sugar fudge market is segmented based on natural and artificial sweeteners. The natural sweeteners segment accounted for the largest share of the global low-sugar fudge market due to the increasing demand for organic and natural food products. The trend of natural food habits is increasing globally giving rise to the use of such sweeteners in the production of low-sugar fudges.

Natural sweeteners such as stevia, dates, maple syrup, erythritol and honey are widely used in the confectionery industry for the production of low-sugar fudges. For instance, Chocolate Fudge by Kilobeater uses dates as one of the sweetener sources. Stevia and erythritol are mostly commonly used low-calorie sweeteners due to their convenience and ease of use mode. The growing consumer preference towards natural products free from artificial chemicals is increasing segment scope.

Geographical Penetration

Increased Health Consciousness Among Consumers

North America dominated the global low-sugar fudge market. The region has increased cases of various lifestyle disorders due to unhealthy lifestyles. With increasing health concerns among consumers, there is a rising need for healthy alternative products in the region. Health-conscious people from U.S., Canada and other places in the region are increasing their awareness regarding the high prevalence of lifestyle disorders in the region.

According to the Centers for Disease Control and Prevention 2023, obesity affects over 41.9 % of adults and 19.7 % of children in the United States. With the increased health issues related to high-calorie intake, consumers are choosing healthy alternatives of low-sugar confectionery products such as fudges driving the market growth.

Competitive Landscape

The major global players in the market include Atmosphere Kombucha, Valley Fudge & Candy, Kilobeaters General Mills, Country Fresh Food & Confection, Yum Yum Tree Fudge, Reset Foods Pvt Ltd., Fudge Etc., Uranus Fudge Factory and Simply Good Foods USA, Inc.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic had a moderate impact on the global low-sugar fudge market. The strict lockdown regulations from the government interrupted the production and distribution of products into the market due to reduced resource availability and distributed supply chain activity.

The increased consumer health consciousness changed their diet preferences to maintain good health. According to NIH 2020, obesity and diabetes are two major risk factors for COVID-19 hospitalization. The organization stated that people with diabetes mellitus and severe obesity are more likely to get infected and are at a higher risk of mortality from COVID-19. Among elderly patients who are at higher risk of death from COVID-19, 26.8% have diabetes mellitus.

People with obesity and diabetes are at higher risk for severe illness, causing them to be highly conscious about their dietary intake during the pandemic situation. Consumers started taking up low-sugar products to maintain their sugar intake. Fudges are mostly used in snacking habits to satisfy the sweet craving. The high demand for low-sugar snacks such as fudges positively impacted the market growth

By Type

• Chocolate-Based
• Fruit-Based
• Other

By Sweetener

• Natural Sweeteners
• Artificial Sweeteners

By Distribution Channel

• Supermarkets
• Specialty Stores
• E-Commerce
• Others

By End-User

• Children
• Adult
• Seniors

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In November 2023, Rainbow Candies launched a new range of premium crumbly fudge, The new products are laucnhed in various flavours such as salted Caramel, Clotted Cream, Vanilla, Rum & Raisin, Chocolate, Honeycomb, Ginger, Tiffin and Mince Pie. The availability of products in grab bags, pouches and catering tubs helps in improving customer convenience.
• In March 2022, Fudge Kitchen, a British artisan Fudge maker, launched a new Vegan Toffee Fudge into the market to support the increasing demand for plant-based options within confectionery. The product is available in various flavour, including toffee, hazelnut, rum & raisin and chocolate & black forest gateau.
• In May 2022, GoodPop, the better-for-you frozen treat brand launched Frozen Fudge n' Vanilla Squares, the first plant-based and gluten-free frozen dessert square. The product is 100% plant-based and gluten-free.

Why Purchase the Report?

• To visualize the global low sugar fudge market segmentation based on type, sweeteners, distribution channel, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of low sugar fudge market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global low sugar fudge market report would provide approximately 70 tables, 65 figures and 185 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies