Monk Fruit Confectionery Market Size (2024 – 2030)

Global Monk Fruit Confectionery Market was valued at USD 178.67 million and is projected to reach a market size of USD 253.09 million by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 5.1%.

The term "monk fruit confectionery market" describes the area of the confectionery business that focuses on creating sweets that use monk fruit extract as a natural sweetener. Luo han guo, also known as monk fruit, is a small, melon-like fruit that is endemic to southern China and has long been used as a natural sweetener and folk remedy. The monk fruit extract is sweeter than sugar but has no calories and a low glycaemic index, making it a desirable ingredient for consumers trying to cut back on their sugar consumption. A broad variety of goods, including candies, chocolates, gums, and other sweet treats produced with monk fruit extract, are available on the market. The demand for natural sweeteners and the growing acceptance of low-calorie and low-sugar goods are estimated to drive significant growth in the monk fruit confectionery market in the upcoming years. Expanding product portfolios and increasing distribution channels to reach a larger customer base are two important market possibilities. The market is also anticipated to gain from the expanding health and wellness trend, which is fuelling consumer interest in more healthful snack choices. 

COVID-19 Impact on the Global Monk Fruit Confectionery Market:

The effects of COVID-19 on the world market for monk fruit confections were mixed. Positively, the pandemic has increased customer interest in low-sugar, low-calorie confectionery goods as a substitute for conventional confectionery items. The demand for monk fruit-based goods and other natural sweeteners has grown as a result of this. On the downside, the pandemic's effects on the supply chain and delivery networks have increased prices and decreased the availability of raw materials and finished goods. Additionally, the pandemic-related economic downturn has decreased customer expenditure on non-essential items, which may affect the sales of high-end monk fruit confectionery goods.

Global Monk Fruit Confectionery Market Drivers:

Increasing demand for natural sweeteners is boosting market growth.

The rising demand for natural sweeteners is one of the main factors driving the worldwide market for monk fruit confectionery. Consumers are seeking healthier substitutes as concern over the harmful health impacts of consuming large amounts of sugar grows. A natural sweetener that can be up to 200 times sweeter than sugar, monk fruit juice is a desirable substitute. It is also a plant-based ingredient, which is thought to be healthy and more natural than artificial sweeteners. In the upcoming years, the market for monk fruit confectionery is anticipated to expand due to rising customer demand for healthier and more natural products.

Rising popularity of low-calorie and low-sugar products is augmenting market growth.

The growing demand for low-calorie and low-sugar goods is another significant factor driving the worldwide market for monk fruit confectionery. Consumers are looking for goods that provide a sweet flavour without the added calories and sugar as knowledge of the harmful health effects of consuming large amounts of sugar rises. The monk fruit extract is a natural sweetener with zero calories and a low glycaemic index, making it a desirable ingredient for companies producing goods with low sugar and calorie content. Because of the rising interest in health and wellness, as well as the rising rates of obesity and diabetes around the world, it is anticipated that demand for these goods will increase in the future. Because of this, the Monk Fruit Confectionery market is anticipated to expand significantly over the next few years.

Global Monk Fruit Confectionery Market Challenges:

For the global market for monk fruit confectionery, the cost of monk fruit extract in comparison to other sweeteners is a major barrier. Monk fruit is more difficult to locate and produce in large amounts because it is a seasonal and uncommon fruit that is primarily grown in southern China. Monk fruit extract consequently costs more to produce and is pricier for manufacturers to use in their goods. There is a risk of overharvesting and environmental harm as monk fruit extract demand increases, which could increase the cost and limit the availability of this ingredient. This challenge may affect the growth and success of the market for Monk Fruit Confectionery.

Global Monk Fruit Confectionery Market Opportunities:

A major change in the global market for monk fruit confectionery is the ability to increase the number of available product options through strengthened product portfolios. There is still space for growth in other sectors like baked goods, ice cream, and beverages even though chewing gum, candy, and other gum products currently dominate the market. Producers can also focus on creating new products that address specific consumer requirements, like goods that combine monk fruit extract with other organic ingredients to produce distinctively flavoured products with positive health benefits. These alternatives may expand the market for monk fruit candies, which could ratchet up the rivalry.

Global Monk Fruit Confectionery Market Recent Developments:

In November 2021, expanding its existing range, Ecoideas has introduced a new organic monk fruit sweetener with erythritol. The product can be used as a glaze, icing, or decoration in recipes in lieu of conventional sweets. It offers a natural, healthful option to conventional sweeteners and is perfect for cookery.

MONK FRUIT CONFECTIONERY MARKET REPORT COVERAGE:

Global Monk Fruit Confectionery Market Segmentation: By Product

• Monk Fruit Sweeteners

• Monk Fruit Extracts

The two primary product categories that can be used to divide the worldwide monk fruit confectionary market are monk fruit extracts and monk fruit candies. Due to their ability to naturally sweeten food and lack of calories, monk fruit sweeteners are becoming more and more popular as a fantastic alternative to normal sugar in a variety of confectionary goods. Monk fruit oils, on the other hand, are employed as a natural flavouring in the creation of confectionary products like sweets, gum, and chocolates. Due to rising demand for healthy options to normal sugar, the market for monk fruit confectionery goods is anticipated to expand considerably in the coming years. Experts in the field predict that the monk fruit sweetener segment, which enjoys high demand in the food and beverage sector, will rule the market. Tate & Lyle, Bio Vittoria, Apura Ingredients, and Monk Fruit Corp. are important industry participants in the monk fruit confectionery sector worldwide.

Global Monk Fruit Confectionery Market Segmentation: By Distribution Channel

• Supermarkets/Hypermarkets

• Online Channels

• Convenience Stores

• Other Distribution Channel

By distribution route, the monk fruit confectionery market can be divided into supermarkets/hypermarkets, online channels, convenience stores, and other distribution channels. The primary distribution route for confectionery items, including those made with monk fruit, has historically been supermarkets and hypermarkets. But as e-commerce has grown and online shopping has become more common, more people are turning to online stores to buy monk fruit confections. Convenience shops, which provide easy access to goods, are anticipated to be crucial in the distribution of these goods. As more consumers look for healthy substitutes to conventional confectionery goods, it is anticipated that other distribution channels, such as speciality shops, health food stores, and pharmacies, will acquire popularity in the upcoming years. Because of the convenience of online shopping and the growing penetration of e-commerce platforms, the study indicates that the online channel will experience the highest growth rate. The primary competitors in the global monk fruit confectionery market are probably going to concentrate on growing their distribution networks through strategic alliances and relationships with retailers across different distribution channels.  

Global Monk Fruit Confectionery Market Segmentation: By Region

• North America

• Europe

• Asia Pacific

• Middle East

• Latin America

North America, Europe, Asia Pacific, the Middle East, and Latin America are the different geographic segments of the global monk fruit confectionery industry. Due to growing customer health consciousness, increased knowledge of the advantages of natural sweeteners, and the concentration of major market players in the region, North America is anticipated to dominate the market. The rising demand for low-calorie and natural sweeteners is also anticipated to cause significant development in Europe. Due to growing customer demand for healthier and all-natural alternatives to conventional sugar-based confectionery products, the Asia Pacific region is predicted to expand at the fastest rate. In the upcoming years, moderate development is anticipated in the Middle East and Latin America. To take advantage of the rising demand for healthier confectionery alternatives, major participants in the global monk fruit confectionery market are likely to concentrate on strengthening their distribution networks and increasing their footprint in emerging markets. 

Global Monk Fruit Confectionery Market Key Players:

1. Archer Daniels Midland Company
2. Tate & Lyle Plc.
3. GLG Life Tech Corp.
4. Monk Fruit Corp.
5. Steviva Brands, Inc.
6. Layn Corp.
7. Firmenich SA
8. NOW Health Group, Inc.
9. SweatLeaf
10. Pyure Brands LLC
11. Ecoideas
12. Whole Earth Sweetener Co., LLC