Worldwide Sugar Toppings Market Size: Forecasts Place Its Value at $94,789 million by 2030, with an 8.42% Compound Annual Growth Rate

California, CA, Jan. 18, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Sugar Toppings Market By Type (Wet, And Dry), By Application (Confectionery, Bakery, Convenience Food, Ready-To-Eat Meals, And Packaged Food), By Nature (Conventional, And Organic), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” in its research database.

“According to the latest research study, the demand of global Sugar Toppings Market size & share in terms of revenue was valued at USD 42,096 million in 2021 and it is expected to surpass around USD 94,789 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 8.42% during the forecast period 2022 to 2030.”

What are Sugar Toppings? How big is the Sugar Toppings Industry?

The sugar toppings market refers to the sales of various types of sweeteners and toppings used in the food industry. These products include granulated sugar, powdered sugar, brown sugar, maple syrup, honey, chocolate chips and other types of toppings that are used to add sweetness and flavor to various food products such as baked goods, desserts, and breakfast cereals.

The market size and growth of the sugar toppings industry is dependent on factors such as consumer preferences, technological advancements, and government policies related to food industry. The market is also influenced by trends such as increasing demand for natural and organic ingredients, and the growing popularity of e-commerce for food sales.

Sugar Toppings Report Coverage & Overview:

When considered from a scientific point of view, sugar is known to play a crucial role in enhancing the functional properties of food products. This is a major reason why sugar toppings are used in a variety of edible items to not only enhance the physical appearance of the product but to improve the taste as well. For instance, sugar toppings are known to improve the palatability of food products. Adding sugar, as an ingredient or as a decorative item increases the chances of the food being consumed.

Although the general perception is that sugar toppings are only to be used for already sweet products, since the compound is extremely versatile, it can be used with salty products as well as it can effectively balance out the saltiness, giving the food item a different flavor altogether. Sugar toppings are responsible for improvising the color and the flavor of the item being consumed. The change can be due to the Maillard reaction that occurs when sugar is added to food or if the sugar toppings are in various colors or different fun forms. Another important reason why sugar toppings are highly preferred is that they contribute to the preservation of the product as it reduces the water activity in edible items. Preparing sugar decorations is extremely easy because the only main ingredients needed to produce a simple yet effective form of sugar topping can be made using only water, glucose syrup, sugar, and a frying pan.

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Global Sugar Toppings Market: Growth Dynamics

The global sugar toppings market is projected to benefit from the growing popularity of unique sugar particles which impart the final product with a better and fun-looking experience, for instance, multicolored sugar sprinkles on birthday cakes. The global cake market generated more than USD 43 billion in 2019 and post-pandemic, many local shops or bakeries have opened up across the globe providing excellent quality pastries, cakes, or other sweet food products. Since during Covid-19 many people invested time and resources to upskill themselves, the global market witnessed a steady growth in the number of small-scale bakers that generally function from their homes.

The global market is anticipated to be driven further due to the increasing disposable income of families as there is a rising trend of dual or multiple-income earners which means that families can spend more on items that cannot be classified as a basic necessity but a form of enjoying simple luxuries of life. The growing demand for ready-to-eat meals as a consequence of changing lifestyle habits and less time to spend on cooking results in higher revenue.

One of the major constraints the global market players may face during the projection period is the presence of substitutes in the market as a large segment of the population prefers to eat only healthy food products. Sugar is getting replaced by other forms of organic sweeteners like stevia, honey, jaggery, etc. as they have fewer calories and are not as harmful as processed sugar and its variants. Stevia, one of the most popular substitutes is known to be 300 times sweeter than sugar but has negligible carbohydrates as opposed to its counterpart.

The unexplored markets may provide growth opportunities while the impact of political strain on the export-import of sugar is expected to challenge market growth.

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Report Scope

Sugar Toppings Market: Segmentation Analysis

The global sugar toppings market is segmented based on type, application, nature, and region

Based on application, the global market divisions are confectionery, bakery, convenience food, ready-to-eat meals, and packaged food with bakery and confectionery segments leading the global market revenue in 2021 owing to the wide applications of sugar toppings in the industry. The global bakery industry was valued at USD 398 billion in 2021,

Based on nature, the global market divisions are conventional and organic. Currently, the leading segment is the conventional form of sugar toppings however, organic sweet toppings may gain more popularity due to the rising number of people who focus on a healthy diet. For instance, as per a report on Statista, around 67% of the survey respondents claimed to limit their sugar intake regularly.

The global Sugar Toppings market is segmented as follows:

The global sugar toppings market is anticipated to witness the highest growth in North America owing to the high use of sugar toppings in the packaged good, and ready-to-eat meal sector as the majority of the population in the US and Canada prefers packaged food due to hectic lifestyles. Growth in Asia-Pacific is anticipated to be driven by India and Thailand as both countries are the leading producers of sugar across the globe. In the fiscal year 2021-2022, India’s sugar export went up by 57% reaching over 110 lakh tons making it officially, the second-largest exporter of sugar. Changing consumer preferences and eating habits along with the presence of multiple players could drive regional growth during the forecast period.

Browse the full “Sugar Toppings Market By Type (Wet, And Dry), By Application (Confectionery, Bakery, Convenience Food, Ready-To-Eat Meals, And Packaged Food), By Nature (Conventional, And Organic), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” Report at https://www.zionmarketresearch.com/report/sugar-toppings-market

Competitive Landscape

Some of the main competitors dominating the global Sugar Toppings market include - 

• Baldwin Richardson Foods Co.
• Hershey Company
• Monin Inc.
• Kraft Heinz Company
• Pinnacle Foods Inc.
• the J.M. Smucker Company
• Cargill Inc
• Archer Daniels Midland Company
• Tate & Lyle
• Ingredion Inc
• Ajinomoto Co. Inc.

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Sugar Toppings market is likely to expand at a CAGR of around 8.42% during the forecast period (2022-2030).                                            
• In terms of revenue, the Sugar Toppings market size was valued at around US$ 42,096 million in 2021 and is projected to reach US$ 94,789 million by 2030.
• The global sugar toppings market is projected to grow owing to the high innovation rate in the sugar industry.
• Based on nature segmentation, conventional was predicted to show maximum market share in the year 2021
• Based on type segmentation, dry was the leading type in 2021
• On the basis of region, North America was the leading revenue generator in 2021

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Key questions answered in this report:

• What is the market size and growth rate forecast for Sugar Toppings industry?
• What are the main driving factors propelling the Sugar Toppings Market forward?
• What are the leading companies in the Sugar Toppings Industry?
• What segments does the Sugar Toppings Market cover?
• How can I receive a free copy of the Sugar Toppings Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2022−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Type, By Application, By Nature and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The global sugar toppings market is projected to witness the highest growth in North America owing to the high prosecution rate of sugar in countries like the US and Brazil, two of the world’s largest producers of sugar. Brazil is ranked as the number one country across the globe in terms of export quantity which reached a total of 25.76 million metric tons in the fiscal year 2021-2022. The country is known to produce more than 25.5% of the world’s sugar and ethanol content. The US produced around 7.4 million metric tons of sugar in 2019-2020.

The regional market may be favored due to the presence of key market players in the food solutions segment like Sysco Corporation and Cargill. More than USD 51 billion was amassed by the Sysco Group in 2021. High consumption of sugar toppings and the growing bakery industry in North America may further add more revenue. As of November 2022, Canada’s revenue from the bread and baked goods industry stand at USD 4.79 billion.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In September 2021, Kraft Heinz announced the launch of Jet-Puffed marshmallow creme which has only 45 calories per serving. With this, the company has strengthened its hold on the healthy sugar-topping segment
• In November 2021, Hershey India launched its new variant of chocolate with 30% less sugar

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FREQUENTLY ASKED QUESTIONS

• Which key factors will influence sugar toppings market growth over 2022-2030?
• What will be the value of the sugar toppings market during 2022-2030?
• Which region will contribute notably towards the sugar toppings market value?
• Which are the major players leveraging the sugar toppings market growth?

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