New Product Development (NPD) in Sweets Market: Introduction
Sweets are among the most popular types of food consumed worldwide. However, the shady side of sugary items has restrained the consumption of sweets in recent years. With consumers increasingly gravitating towards healthy and low-in-calories eatables, manufacturers in food and beverage sector are under high pressure to offer customized products. Companies are increasingly incorporating innovation to replace added sugar and artificial sweeteners with natural sweeteners in their products and beverages.
New Product Development (NPD) in Sweets Market: Competitive Landscape
- In March 2018, Swiss multinational food and drink company Nestlé structured sugar made with all-natural ingredients. Nestlés structured sugar can help reduce sugary-content by roughly 40% in confectionery products, such as chocolates. This revolutionary structured sugar remains stable only in dry products.
- In January 2018, Bayn Europe, a private formulation developer in sugar reduction sector developed cloud-based platform to catalyze R&D of food producers, and accelerate the penetration of lower sugar content products. The launch of initial prototype of this platform is expected to happen next year.
Founded in 2009, Sweden-based Bayn Europe is an independent formulation developer, which creates sugar reduction solutions for the F&B sector. Bayn Europe offers cost-effective ingredients as well as total solutions for sugar reduction. The company deals in low-calorie content products based on natural sweeteners.
Founded in 1866 and headquartered in Vevey, Switzerland, Nestlé S.A along with its subsidiaries, operates as an F&B company. With an extensive product portfolio, the company operates across Zone Europe, Middle East & North Africa; Zone Asia, Oceania & sub-Saharan Africa; Zone Americas; and Nestlé Waters segments.
Mondelez International, Inc.
Founded in 2000, Mondelez International, Inc., is an American multinational confectionery, food & beverage company headquartered in Illinois and has roughly 83,000 employees around the world. Mondelez International’s primary snack brand portfolio includes Milka, Cadbury & Toblerone chocolates; LU, Oreo, and belVita biscuits; Halls candies; and Trident gums & Tang powdered beverages.
Dori Alimentos S.A.
Founded in 1967 and headquartered in Brazil, Dori Alimentos S.A. manufactures, exports, and sells candies, jellies, candies, and confectioneries in Brazil and beyond. Dori Alimentos S.A. mainly operates in the United States, Angola, Canada, Argentina, and Uruguay.
Sensient Technologies Corporation
Founded in 1882, Sensient Technologies together with its subsidiaries, creates, manufactures, & markets flavors, colors, and fragrances in Europe, North America, and the Asia Pacific, and internationally. Sensient Technologies Corporation operates through three segments, including Color Group, Flavors & Fragrances Group, and Asia Pacific Group.
New Product Development (NPD) in Sweets Market: Dynamics
Negative Impact of Added-Sugar Prompting New Product Development in Sweets
Companies operating in food and beverage industry are hard pressed to lessen the added sugar content and artificial sweeteners from a wide range of processed food products and drinks. This is primarily due to the negative impact of sugar on the health of growing population, for example, diabetes and obesity cases are growing significantly in different parts of the world. As obesity leads to cardiovascular disease, high blood pressure, and diabetes, which are as a whole known as metabolic syndrome, manufacturers are focusing on innovative reduced sugar and natural/fruit sweeteners based sweets.
Sweet Manufacturers’ Eying New Product Development to Appeal Wider Consumer Base
Shifting consumer preference for healthy and low-in-calories products have prompted several companies to collaborate with corporate bodies to reduce the sugar content of their offerings. Growing number of sweets manufacturers are forming partnerships with natural sweetener providers to avoid the adoption of artificial sweeteners, without compromising the sensory and technological properties of these products. Several companies have even introduced reduced sugar content products to the shelves. For instance, Mondelez is launching a reduced sugar Cadbury Dairy Milk bar in 2019.
Real-Fruit-Based Ingredient Replacing Refined Sugars in RTE Products
Growing consumer health concerns pertaining to high sugar content in wide range of food products have propelled companies in the food & beverages and new product development (NPD) in sweets market to introduce offerings with reduced sugar content. For instance, Gat Foods has recently introduced Fruitlift, an ingredient composed of 90% fruit components in liquid form that can substitute refined sugar in RTE cereals. Fruitlift gives a fruity taste to a product, can be blended into an existing flavor, and also eradicates the need for anti-caking agents, while keeping product texture crisp. A real-fruit based sugar replacement ingredient has the potential to be used in wide range of RTI sweet products such as chocolates and candies to reduce the refined sugar content in them. Such food innovations are fueling the enhancement of existing F&B products. With companies increasingly taking initiatives to introduce reduced sugar containing products, new product development is anticipated to grow significantly in the sweets industry.
New Product Development (NPD) in Sweets Market: Segmentation
Based on distribution channel, market for new innovative products in sweets industry is segmented into:
- Departmental Stores
- Hypermarkets & Supermarkets
- Online Channel
- Convenience Stores
- Indirect Sales
Based on types, market for new innovative products in sweets industry is into:
The report offers a comprehensive evaluation of the new developments in new product development (NPD) in sweets market . It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured pertaining to the new developments in sweets market report have been derived using proven research methodologies and assumptions. By doing so, the research report on the sourdough market serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Segments and sub-segments of new product innovations in sweets market
- New product development in sweets market trends and dynamics
- Supply and demand of new product innovations in sweets market sourdough market
- New product innovations in sweets market size
- Current trends/opportunities/challenges related to new product innovations in sweets market
- New product innovations in sweets market competitive landscape
- Technological breakthroughs related to new product innovations in sweets market
- Market value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report on the new development in sweets market has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report on new developments in sweets market projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in sourdough market dynamics
- Sourdough market segmentation up to the second or third level
- Historical, current, and projected size of the sourdough market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Shares and strategies of key players active in new product development in sweets industry
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the new product developments in sweets market
- Recommendations to companies for strengthening their foothold in new product development in sweets industry.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.