Confectionery Ingredients Market Outlook by Application of Top Companies, and Forecast 2030
Confectionery Ingredients Market Overview
The global Confectionery Ingredients Market
is projected to reach USD 127.37 Bn by 2030 and grow at a CAGR of 6.7% during
the forecast period, 2023–2030.
Market Dynamics
The primary driver driving growth in the confectionery
ingredients market outlook is the increased demand for natural ingredients
as consumer awareness grows. The primary element driving demand for
confectionery ingredients is the high level of R&D and innovation required
to maintain the market's strength. Additionally, the huge range of
confectionery applications, the numerous health benefits associated with
chocolate, and changing consumer lifestyles are all contributing to the total
demand for confectionery ingredients over the projection period.
Increased consumer demand for sugar-free
goods has compelled confectionery makers to discover and develop new
confectionery ingredients, which has fueled the worldwide confectionery
ingredients industry's rise. Sweeteners, for example, are used in place of
sugar and are gaining appeal among candy manufacturers. Additionally, the
increased preference among confectionery producers for natural ingredients has
created an attractive market for providers of confectionery ingredients.
Continuous research and development, as well as innovation in confectionary
ingredients, are the primary drivers of the global market's growth.
However, volatile cocoa prices, as well as
compliance with international quality standards and regulations for
confectionery ingredient products, are expected to act as a restraint on the
confectionery ingredients market's growth, whereas increasing substitution of
confectionery goods and consumer demand for clean label products could pose a
threat to the market's growth.
Competitive Dynamics
Cargill, Incorporated (US), Archer Daniels
Midland Company (US), DuPont (US), Kerry Group Plc (Ireland), Arla Foods
(Denmark), Tate & Lyle PLC (UK), Olam International (Singapore), Barry
Callebaut (Switzerland), Ingredion Incorporated (US), Koninklijke DSM N.V.
(Netherlands), AAK AB (Sweden), Brisan Group (US), Tereos Starch &
Sweeteners s.a.s. (France), Lactalis Ingredients (France), Döhler GmbH
(Germany) are some of the key players in the global confectionery ingredients
market.
Segmental Analysis
The global confectionery
ingredients market insights has been categorized by ingredient type,
source, application, and region.
The global confectionery ingredients market
has been segmented according to ingredient type into cocoa & chocolate,
dairy ingredients, hydrocolloids, emulsifiers, stabilizers, and thickeners
(EST), malts, oils & shortenings, sweeteners, starch & derivatives, and
flavors.
The global market has been classified as
natural or synthetic, depending on the source.
The global market has been segmented by
application into chocolate confectionery, sugar confectionery, chewing gums,
and others.
Region Overview
Throughout the projected period, North
America is expected to dominate the market for confectionary ingredients. The
market's expansion is being fueled in large part by the presence of significant
important players in the United States and constant innovation in confectionary
ingredients.
Europe also accounts for a sizable portion
of the global market for confectionery ingredients. The region's high
consumption of confectionery goods, combined with growing demand for a healthy
lifestyle, has fueled the expansion of the confectionery ingredients industry.
However, the Asia-Pacific market is
expected to develop at the fastest rate throughout the forecast period.
Asia-Pacific is predicted to rise at a rapid pace throughout the forecast
period, owing to rising desire for a healthy lifestyle and the region's high
consumption of confectionary goods. Asia-Pacific is also expected to expand due
to the continuous increase in demand for confectionery ingredients, owing to
the favorable climate and operational benefits associated with confectionery
ingredients, as well as increased disposable income, purchasing power, and
industrialization, particularly in countries such as China and India. China and
India are likely to be the largest contributors, owing to the rise of their
confectionery markets. Additionally, ease of doing business and a broad
application range are significant factors driving demand for confectionery
ingredients in Asia-Pacific economies.
NOTE: Our Team of Researchers are
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
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