Daily Newsletter

24 August 2023

Daily Newsletter

24 August 2023

Signal: Confectionery industry patent applications decline

The number of patent applications made across the confectionery sector fell by more than 20% year-on-year in the 12 months to the end of June.

Dean Best August 24 2023

Confectionery companies filed fewer applications for patents in the year to the end of June, data suggests.

Between 1 July 2021 and 30 June 2022, confectionery makers lodged a combined 2,864 applications for patents to be approved, GlobalData, Just Food’s parent, suggests.

In the corresponding period a year later, that number dropped by 22% to 2,223, the research and intelligence group said.

GlobalData’s Patent Analytics database contains global figures on the patents filed – and granted – by businesses across multiple sectors. Each patent is classified by theme, including those linked to areas such as the environment or health and wellness.

Most of the patents filed in both of the years under review were classified as being related to ‘health and wellness’, GlobalData said. Similar to the overall number of applications, there was a decline in patents being filed that were linked to health and wellness, falling from 749 to 576.

Looking at where the patents were filed, China topped the list in both years, with 934 in the year to the end of June 2022 and 719 a year later.

The US saw the second-highest number of applications among confectionery companies in both years under review.

Each week, Just Food’s journalists analyse data on patent filings and grants that illustrate innovation trends in our sector. These patent signals show where the leading companies are focusing their research and development investment – and why. We uncover key innovation areas in the sector and the themes that drive them.

This new, thematic patents coverage is powered by our underlying Disruptor data, which tracks all major deals, patents, company filings, hiring patterns and social media buzz across our sectors.

Rising disposable income and health consciousness set to drive the healthy snacks market

The global healthy snacks market will be valued at $74.6 billion in 2023 and is expected to grow at a CAGR of 6% by 2030, per GlobalData. Increasing awareness of health and wellness among consumers is the major contributor to the growing demand while a rise in vegan and plant-based diets and rising disposable income, and middle-class expansion are also expected to drive market growth. However, this growth is affected by the challenges posed by high cost of ingredients.

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