Due to the second wave of the pandemic in the winter of 2020, people are encouraged to avoid travel and spend the Chinese New Year holiday where they work, which has reduced the occasions for gathering and gifting, hence exerting some negative impact on sales of boiled sweets and toffees, caramels and nougat, which are major gifting options. Apart from that, sugar confectionery is likely to rebound in 2021.
COVID-19 has reinforced the demand for health and wellness products, which drives the growth of FF confectionery. The market, which used to be infused with vitamin C products, becomes more diversified.
The subcategories of medicated confectionery and mints that provide additional health benefits and limited sugar intake will outgrow other subcategories. With more entrants into medicated confectionery, both imported and locally-operated brands, and enhanced marketing campaigns, consumers will be further educated, igniting potential future needs.
In an era when young people are surrounded by various temptations, only snacks that provide a unique sensory experience have the chance to thrive. The unique sensory experience is usually linked with mouthfeel, visual excitement or emotional attachment.
The majority of other confectionery is ready-to-eat jelly products which have been in decline due to lack of innovation and limited consumer groups, who are mainly children and elderly people. In recent years, new types of jelly products claiming low calorie content have been gaining traction, targeting young people, especially females who desire guilt-free snacks.
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