The Global Confectionery Ingredients Market is expected to grow at a steady CAGR of 4.6% over the forecast period. Valued at approximately USD 86,607.0 million in 2023, the market is projected to reach around USD 1,35,319.3 million by 2033.
Rising demand for baked goods and confectioneries among youth and millennials is projected to accelerate the growth of the confectionery ingredients market. Additionally, advancements in printing and labeling technologies within this market allow producers to integrate personalized features into their packaging.
The increasing appetite for baked goods and confectioneries among youth and millennials is likely to drive growth in the confectionery ingredients market. Additionally, the market provides sophisticated printing and labeling technologies that allow producers to add personalized elements to their packaging.
As demand for savory flavors such as chocolate, strawberry, and vanilla increases, the confectionery ingredients market has become a significant player in the global market. The appeal of various flavors and textures, along with the expansion into premium and specialty bakery goods, reflects consumer preferences for higher-quality and ethically sourced ingredients. Additionally, the inclusion of ingredients like nuts, seeds, and dried fruits in confectioneries helps attract consumers and drive sales.
The growing consumer preference for sugar-free options is expected to drive demand for healthier confectionery ingredients. Emulsifiers and stabilizers, commonly used in chocolates, candies, and other confectioneries, help extend shelf life and ensure product 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.
Get Strategic Guidance from Our Analyst Contact us on: +1-347-918-3531
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
About Future Market Insights (FMI)
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube