The Global Confectionery Ingredients Market is projected to have a moderate-paced CAGR of 4.6% during the forecast period. The current valuation of the market is USD 86,607.0 million in 2023. The market value of the global confectionery ingredients market is anticipated to reach a high of USD 1,35,319.3 million by the year 2033.
The growing demand for baked and confectionery products among the youth and millennials is expected to boost the growth of the confectionery ingredients market. The confectionery ingredients market offers advanced printing and labeling technologies for confectioneries that enable producers to incorporate personalized elements into their packaging.
The growing demand for baked and confectionery products among the youth and millennials is expected to boost the growth of the confectionery ingredients market. The confectionery ingredients market offers advanced printing and labeling technologies for confectioneries that enable producers to incorporate personalized elements into their packaging.
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With the rising demand for Savory flavors such as chocolate, strawberry, vanilla, and more, the confectionery ingredients market has become an important consideration in the global market.
The flavors and textures of the confectionery ingredients and expansion into premium and specialty bakery goods have gained popularity due to consumer preferences for higher-quality and ethically sourced ingredients. Additional ingredients like nuts, seeds, and dried fruits are often used as inclusions in confectioneries to lure consumers into buying more. Ingredients like nuts, seeds, and dried fruits are often used as inclusions in confectioneries to lure consumers into buying more.
The consumer inclination towards sugar-free products is expected to aid the demand for healthy confectionery ingredients market. The shelf life of confectionery products is maintained by emulsifiers and stabilizers commonly used in chocolates, candies, and other confectionery products to provide stability.
The dietary preferences of consumers align with the growing population of veganism and awareness about health concerns, and this also syncs with the demand for sugar-free alternatives of confectionery products leading to a rise in the revenue of the confectionery ingredients.
Key Takeaways from Confectionery Ingredients Market
- The confectionery ingredients market value reached US$ 83,276 million in 2022, with a CAGR of 2.3% from 2018 to 2022.
- The market in the United States accounted for a 13.3% share in 2022 on a global level.
- The United Kingdom’s confectionery ingredients industry is projected to advance at 2.6% CAGR from 2023 to 2033. The United Kingdom confectionery ingredients industry is projected to advance at 2.6% CAGR from 2023 to 2033.
- The market for confectionery ingredients in Japan accounted for 7.6% of the market share in 2022.
- India market for confectionery ingredients market is predicted to progress steadily with a CAGR of 18.8% during the projected period.
Competitive Landscape
Key players in the confectionery ingredients market strongly focus on profit generation from their existing product portfolios while exploring potential new applications from emerging economies. The players emphasize enhancing their confectionery ingredients production capacities to cater to the demand from numerous end-use industries. numerous end-use industries.
Cargill, Incorporated, Olam International, Barry Callebaut, Archer Daniels Midland Company, Ingredion Incorporated, Concord Foods Inc., Tate & Lyle PLC, AarhusKarlshamn, DuPont.
The Asia Pacific market is anticipated to grow fastest due to its rapidly growing population and impulsive demand over the projected period. Due to the popularity of confectionery flavors among the country’s young demographics, India is expected to grow faster than China.
Recent Developments
- In June 2023, ADM, a global player in human and animal welfare and nutrition, announced the unveiling of its new customer creation and innovation center in the United Kingdom to develop and improve food innovation capabilities.
- Kerry Inc. launched Biobake EgR, an enzyme solution that reduces the number of eggs needed in baking applications and methods, in June 2023.
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Key Segments
By Types:
- Citrate
- Cocoa & Chocolate
- Malt
- Confectionery Starches & Derivatives
- Confectionery Sweeteners
By Form:
- Liquid
- Dry
By Source:
- Natural
- Synthetic
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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