NEWARK, Del, July 18, 2023 (GLOBE NEWSWIRE) -- 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 US$ 86,607.0 million in 2023. The market value of the global confectionery ingredients market is anticipated to reach a high of US$ 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.
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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.
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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.
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
Explore FMI's Extensive Ongoing Coverage of Food and Beverage Market Insights
Confectionery Fillings Market Size: The global confectionary fillings market is projected to have a moderate-paced CAGR of 4.8% during the forecast period.
Confectionery Coating Market Share: Global demand for confectionery coatings is expected to reach a market valuation of US$ 3.83 billion by the end of the year 2023, accelerating at a CAGR of 5.2% over the forecast period (2023 to 2033).
Ingredients Market for Plant-based Food & Beverages Trends: The ingredients market for plant-based food & beverages is estimated to secure a valuation of US$ 2.3 billion in 2023 and is estimated to rise to US$ 9.30 billion by 2033
Botanical Ingredients Market Demand: The botanical ingredients market is valued at USD 164.1 Billion in 2022 and is projected to grow at a CAGR of 5.5% during the forecast period, to reach a value of USD 331.9 Billion by 2032.
Energy Ingredients Market Forecast: The overall size of the global energy ingredients market is projected to hit US$ 23.4 billion in 2023 in terms of value.
Pea Protein Ingredients Market Outlook: The pea protein ingredients market is projected to be valued at US$ 1.6 billion in 2023 and is rising to US$ 3.4 billion by 2033.
Bakery Ingredients Market Analysis: The global bakery ingredients market is expected to reach a market valuation of US$ 17.9 Billion by the year 2022 end, accelerating with a CAGR of 6.4% by 2022 to 2032.
Convenience Food Market Growth: The global demand for convenience food is anticipated to rise at a CAGR of 7.2%. The market revenue is likely to be valued at US$ 591.5 million in 2022 and exhibit a revenue growth of US$ 1,138.8 million by 2033.
Avocado Oil Market Sales: The avocado oil market held a market worth of US$ 287.2 million in 2022, and it is anticipated that it will reach a market value of US$ 975 million by 2033, growing at a CAGR of 5.9% from 2023 to 2033.
Ginger Beer Market Values: The global ginger beer market is expected to reach a market valuation of US$ 4.9 billion by 2023, accelerating with a moderate CAGR of 7.7% from 2023 to 2033
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