PUBLISHER: The Business Research Company | PRODUCT CODE: 1270421
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270421
“Confectionery Ingredients Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on confectionery ingredients market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for confectionery ingredients ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The confectionery ingredients market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the confectionery ingredients market are Cargill Incorporated, Archer Daniels Midland Company, DuPont de Nemours Inc., Kerry Group Plc., Arla Foods, Tate & Lyle Plc., Olam International, Barry Callebaut, Ingredion Incorporated, Koninklijke DSM N.V., AAK AB, Dohler GmbH, AarhusKarlshamn, Brisan Group, and Tereos Starch & Sweeteners SAS.
The global confectionery ingredients market is expected to grow from $72.40 billion in 2022 to $77.26 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The confectionery ingredients market is expected to grow to $98.34 billion in 2027 at a CAGR of 6.2%.
The confectionery ingredients market consists of sales of malt, flour, citrates, starch and derivatives. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Confectionery ingredients refer to items used in making confectionery products. Various sweet foods and consumables, such as baked goods and sweets, are referred to as confectionery.
Europe was the largest region in the confectionery ingredients market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the confectionery ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of confectionery ingredients are dairy ingredients, cocoa and chocolate, emulsifiers, sweeteners, oil and shortening, flavoring ingredients, and others. Dairy ingredients are confectionery ingredients that mainly consist of milk derivatives such as whole milk powder, skimmed milk powder, anhydrous milk fat, and whey powders. Dairy components are utilized to increase thickness and texture as a bulking agent and as a flavor carrier in confectionery products. These come from natural and synthetic sources, and they are of dry and liquid form. The applications include chocolate confectionery, sugar confectionery, chewing gums, and others.
The rising consumption of confectionery goods is driving the confectionery ingredients market. The confectionery goods include sweet foods and consumables, such as baked goods and sweets. The increasing demand for gourmet products and changing food habits are leading to a rise in confectionery products. Confectionery ingredients are used in making confectionery products. For instance, according to a report published by the American Bakers Association, a US-based non-profit organization, the sales in the bakery aisle increased by 62.3% in the week ending March 15, 2020. Additionally, according to IRI, a US-based company called Information Resources, Inc., sales of cookies and crackers rose by 44.3%. Therefore, increasing consumption of confectionery goods will propel the confectionery ingredients market.
Product innovation have emerged as a key trend in the confectionery ingredients market. Major players in the shortenings market are innovating novel products with vegan, low calorie, and naturally obtained ingredients to sustain in the market. For instance, in September 2020, the London Botanist, a UK-based independent producer of CBD (cannabidiol) products launched the CBD Milk Chocolate bar. The chocolate bar is a 43% single-origin artisan milk chocolate bar infused with CBD oil.
In July 2021, Orkla Food Ingredients, a Norway-based bakery ingredients company acquired Hans Kaspar for an undisclosed amount. Through this acquisition, Orkla aims to strengthen its position in the confectionery and ice cream ingredients segment. Hans Kaspar is a Switzerland-based confectionery ingredients manufacturer.
The countries covered in the confectionery ingredients market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The confectionery ingredients market research report is one of a series of new reports from The Business Research Company that provides confectionery ingredients market statistics, including confectionery ingredients industry global market size, regional shares, competitors with a confectionery ingredients market share, detailed confectionery ingredients market segments, market trends and opportunities, and any further data you may need to thrive in the confectionery ingredients industry. This confectionery ingredients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.