The global confectionery ingredients market is set to grow remarkably fueled by the increasing per capita income of the masses belonging to the emerging countries. This information is published by Fortune Business Insights™, in an upcoming report, titled, “Confectionery Ingredients Market Size, Share & Industry Analysis, By Type (Dairy Ingredients, Cocoa & Chocolate, Emulsifiers, Others), By Source (Natural, Synthetic), By Application (Chocolate Confectionery, Sugar Confectionery, Bakery Confectionery) and Regional Forecast, 2023-2030.” The report further mentions that the market will be positively impacted by the rising demand for confectionery products, as well as the expansion of the food industry across the world.
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Highlights of the Report
- Detailed research and analysis of key aspects, namely, confectionery ingredients market trends, opportunities, challenges, growth drivers, and barriers.
- Comprehensive information about the key revenue pockets of the market.
- Recent developments, such as strategic collaborations, investments, new product launches, mergers and acquisitions, agreements, and contracts.
- List of all the short-term and long-term strategies adopted by the prominent companies operating in the market.
Rising Health Consciousness Worldwide to Boost Growth
Nowadays, there is a high demand for sugar free products, such as cakes and candies from diabetic and obese populaces. Besides, the increasing usage of naturally derived colors equipped with state-of-the-art color emulsion technology would also accelerate the confectionery ingredients market growth during the forecast period. Combined with this, increasing urbanization, changing eating habits & lifestyle, and rising health consciousness across the world would augment growth. However, stringent FDA norms for private labels and harmful effects associated with synthetic colors may hinder the growth of the market.
Usage of Unique Marketing Techniques to Favor Growth of Chocolate Confectionery Segment
In terms of application, the market is grouped into gum products, sugar confectionery, and chocolate confectionery. Out of these, the chocolate confectionery segment is set to show considerable growth in the coming years. It is likely to occur because of the increasing consumption of chocolates worldwide, on account of their rich flavor and several associated health benefits. Apart from that, the high adoption of unique advertisement and marketing techniques by key players would also fuel the growth of this segment.
North America to Dominate Backed by Rising Consumption of Confectionery
The market is geographically fragmented into Asia Pacific, the Middle East and Africa, Europe, North America, and Latin America. Amongst these, at present, North America holds the largest confectionery ingredients market share and it is set to retain its leading position throughout the forecast period. This growth is attributable to the increasing consumption of confectionery products in various countries of this region, such as the U.S. Additionally, the presence of numerous renowned companies would also boost growth.
Europe is expected to follow the footsteps of North America and remain in the second position. The region is anticipated to exhibit a rising demand for confectionery products from countries, namely, Netherlands, Germany, and the U.K. Asia Pacific, on the other hand, is projected to showcase considerable growth owing to the rising demand for confectioneries in the developing economies, such as India and China. Also, the ever-increasing population would propel growth in this region.
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Cargill Launches Gerkens® CT70 While Corbion Unveils SweetPro Emulsifiers
The key players operating in the market are persistently working to develop and launch innovative products to attract more consumers and acquire the maximum confectionery ingredients market revenue during the forthcoming period. Below are two of the significant industry developments:
- February 2019: Cargill, a privately held global corporation based in Minnesota, announced the launch of its new cocoa powder called Gerkens® CT70. It was developed to create a chocolate experience in smell and taste in baked goods. The company had partnered up with Ipsos, a well-known market research organization. Baked products consisting of CT70 were passed on through blind tests.
- July 2017: Corbion N.V., a Dutch food and biochemical company headquartered in Amsterdam exhibited its new emulsifiers called SweetPro at the IFT show in Las Vegas. They are developed specifically for sweet goods and are based on the solvents propylene glycol mono ethers (PGMEs). They aid in upsurging the aeration in cakes and batters that need stable, small bubbles. They are also free from harmful trans fats, as well as partially hydrogenated oils.
Fortune Business Insights™ profiles some of the most reputed organizations present in the confectionery ingredients market. They are as follows:
- Barry Callebaut
- Cargill Incorporated (U.S.)
- Mars Incorporated
- Ingredion Incorporated
- McCormick & Company
- Archer Daniels Midland Company
- Concord Foods
- Koninklijke DSM N.V.
- Tate & Lyle,
- Kerry Group Plc.
- Other prominent key players
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