Global Confectionery Ingredients market research 2024, Forecast To 2033
1 Mar, 2024
The confectionery ingredients market has demonstrated robust growth, increasing from$77.09 billion in 2023 to$82.36 billion in 2024, with a compound annual growth rate (CAGR) of 6.8%. Historical drivers of growth include the globalization of taste preferences, expansion of retail channels, effective marketing and branding strategies, the demand for novelty and specialty products, consumer preferences for texture varieties, and the rise in disposable income levels. Looking forward, the market is expected to maintain strong growth, reaching$107.31 billion by 2028, propelled by packaging innovations, a heightened focus on health and wellness prompting reduced sugar content and alternatives, the expansion of premium and artisanal segments, globalization of flavor profiles, and consumer preferences for clean label products. Major trends in the forecast period encompass innovation in product formulations, technological advancements in processing, digitalization in marketing strategies, customization and personalization trends, and the introduction of innovative flavors and combinations.
Global Confectionery Ingredients Market Key Driver
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, in November 2022, according to Agriculture and Agri-Food Canada, a Canada-based department of the government, total global retail sales of baked goods were equal to $425.7 billion in 2022, an increase from $407.2 billion in 2021. Therefore, increasing consumption of confectionery goods will propel the confectionery ingredients market. In 2023, the market size for confectionery ingredients is valued at X, and it is projected to reach Y by 2028.
Get A Free Sample Of The Global Confectionery Ingredients Market ReportGlobal Confectionery Ingredients Market Segments
The global confectionery ingredients market covered in this report is segmented –
1) By Type: Dairy Ingredients, Cocoa and Chocolate, Emulsifiers, Sweetners, Oil and Shortening, Flavoring Ingredients, Other Types
2) By Source: Natural, Synthetic
3) By Form: Dry Form, Liquid Form
4) By Application: Chocolate Confectionery, Sugar Confectionery, Chewing Gums, Other Applications
By Geography: The regions covered in the confectionery ingredients market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Europe was the largest region in the confectionery ingredients market in 2023. 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, Africa.
Major Confectionery Ingredients Industry Players
Cargill Incorporated, Archer Daniels Midland Company, DuPont de Nemours Inc., Kerry Group PLC, Arla Foods amba, Tate & Lyle PLC, Olam International Ltd., Barry Callebaut AG, Ingredion Incorporated, Koninklijke DSM NV, AAK AB, Döhler GmbH, Brisan Group, Tereos Starch & Sweeteners SAS, Mars Incorporated, Mondelez International Inc., The Hershey Company, Nestlé SA, Ferrero SpA, Chocoladefabriken Lindt & Sprüngli AG, Perfetti Van Melle SpA, Haribo GmbH & Co. KG, The Kraft Heinz Company, General Mills Inc., The Kellogg Company, Mars Wrigley Confectionery US LLC, Ferrara Candy Company, Jelly Belly Candy Company, FrieslandCampina Kievit BV, Symrise AG, Givaudan SA
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Confectionery Ingredients Market Overview
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.
Confectionery Ingredients Global Market Report 2023 provides data on the global confectionery ingredients market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The confectionery ingredients market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.