The Global Confectionery Ingredients Market is expected to grow at a moderate CAGR of 4.6% during the forecast period. The market is currently valued at USD 86,607 million in 2023 and is projected to reach USD 135,319.3 million by 2033.
The rising demand for baked goods and confectionery among youth and millennials is projected to fuel growth in the confectionery ingredients market. This market provides innovative printing and labeling technologies that allow producers to add personalized elements to their packaging.
As the demand for savory flavors like chocolate, strawberry, and vanilla continues to rise, the confectionery ingredients market has become a key player in the global landscape. The appeal of diverse flavors and textures, along with the shift toward premium and specialty baked goods, reflects consumer preferences for higher-quality and ethically sourced ingredients. Additionally, ingredients such as nuts, seeds, and dried fruits are commonly included in confectioneries to attract more consumers.
The increasing consumer preference for sugar-free products is expected to boost demand in the healthy confectionery ingredients market. Emulsifiers and stabilizers are commonly used in chocolates, candies, and other confections to ensure product stability and extend shelf life.
As dietary preferences shift alongside a growing vegan population and heightened health awareness, there is a corresponding rise in demand for sugar-free alternatives. This trend is contributing to increased revenue in the confectionery ingredients sector.
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
The presence of major manufacturers and leading marketers in the region is expected to sustain the market’s momentum throughout the forecast period. Key players are capturing a significant market share by employing a variety of marketing strategies, including mergers, partnerships, and collaborations.
Recent Development in the Confectionery Ingredients Market
- In March 2017, A private food limited company named Cargill India Pvt LTD announced their new solution to manufacturers to get transparency in the confectionery ingredients market. They are using gelatin-free wine, which helps to reduce the dry time by 50%.
- In March 2023, Tate & Lyle, an ingredient solution for healthier food and beverages, announced IMCD as its exclusive partner in the distribution of ingredients in Brazil.
- In June 2023, Cargill established a partnership with TechnoServe to bring 25,000 acres of maize farms under the regenerative agricultural program in India.25,000 acres of maize farms under the regenerative agricultural programmed in India.
Key Players
- Cargill
- Incorporated
- Olam International
- Barry Callebaut
- Archer Daniels Midland Company
- Ingredion Incorporated
- Concord Foods Inc.
- Tate & Lyle PLC
- AarhusKarlshamn
- DuPont
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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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