The confectionery industry has made rapid strides on the back of adoption of cutting-edge technologies. The advent of 3D and automation technologies in the industry has shaped new avenues in the jelly candies market. New sensory characteristics in the chocolate industry and the changing demographics have shaped opportunities in recent years. Among children, fruit-flavored and soft candies have gathered widespread steam, the reason having to do with the changing proclivity from hard to soft chocolates.
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Sugar-free variants expand consumer choice
Companies operating in the jelly candies market are gaining from the expansion of choice among consumers. In particular, sugar-free variants have piqued the curiosity of new target consumers and satisfying the appetite of the existing consumer base. Players are also leaning and working relentlessly gathering consumer data on their changing palate preferences. They have upped their research funding on testing new flavors. In addition, they are taking the help of technologies to arrive at new infusion methods concerning new mix of flavors.
Novel formulations help players reach new markets
A number of prominent players are intensely competing against one another to occupy a high pie of the overall market share year-after-year. To this end, top players adopt a multipronged strategy to consolidate their position or shares in the jelly candies market. In recent years, some of the key players have resorted to expanding their presence in new geographies, such as in Europe and North America.
On the other hand, some players have been able to target new consumer base by incorporating novel formulations. A case in point is the infusion of CBD in gummies. A growing number of players are setting their sights on emerging markets in Asia Pacific. They are coming out with new pricing strategies to target prospective consumers in this region.
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