World Confectionery Ingredients Market Demand, Size, Competitors Strategy, Key Players, Regional Analysis and Growth Forecast to 2023
Sep 10, 2018
Confectionery Ingredients Market Global Research Report by Type (Chocolate, Dairy Ingredients, Emulsifiers, Stabilizers and Thickeners, Sweeteners and others), Form (Dry, Liquid and others), Application (Sweets, Candy, Candy Nuts, Chocolates, Chewing Gum and others) and Region Forecast to 2023
pune, India - September 10, 2018 /MarketersMedia/ —
Market Overview:
The Global Confectionery Ingredients Market has posted continuous growth in the recent years and is expected to reach a significant valuation over the forecast period of 2017-2023, reveals market Research Future (MRFR) in an exhaustive research report. A considerable rise in the consumption of bakery and confectionery items has been the primary factor influencing the growth of the market. The market is primarily driven by greater interest in chocolate influenced by the increasing awareness about the health benefits of chocolates and western influence on consumption pattern on a global scale. There are several health benefits associated cocoa; it offers relief from high blood pressure, cholesterol, and other neurodegenerative diseases.
The escalating demand for sugar-free products owing to growing health awareness among consumers has forced the confectionery manufacturers to explore the confectionery ingredients which has supported the growth of confectionery ingredients market. Introduction of value-added, application-specific and tailor-made ingredients to suit the varying needs of the F&B industry has also been instrumental in shaping the global confectionery ingredient market. In addition, the introduction of ingredients to substitute more expensive or price-volatile options have also aided the growth of the market. Rising interest in natural ingredients encourages R&D activities to bring innovation in products obtained from natural sources also foster the growth of the market. However, confectionery manufacturers need to abide by various regulations by Global Food Safety Initiatives (GFSI) which may impact the new entrants in the market.
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Competitive Analysis:
The eminent players operating in the global confectionery ingredients market include McCormick & Company, Inc. (U.S.), Mars Incorporated (Australia), NILON'S. (India), NOW Foods (U.S.), Woolworths Limited. (Australia), and Dabur (India).
Industry Updates:
In August 2018, DuPont Nutrition & Health developed a novel naturally sourced monoglyceride emulsifier which comes in a new beaded format of DIMODAN HP 90-M. The new product can deliver the same functionalities as conventional emulsifiers and can be used for various applications including margarine, non-dairy creamers, whipping gels and many more.
Segmentation:
The global confectionery market has been segmented based on type, form, and application. By type, the market has been segmented into chocolates and cocoa, dairy ingredients, emulsifiers & thickeners, sweeteners, and others. By form, the market has been segmented into dry, liquid and others. By applications, the market has been segmented into sweets, candy, candy nuts, chocolates, chewing gum, and others.
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Regional Analysis:
The global confectionery market spans across the regions of North America, Europe, Asia Pacific, and the Rest of the World (RoW). Europe is recorded for generating maximum demand for confectionery ingredients. The growth of the market is supported by substantial investment in R&D activities and technological advancements. Other factors include high consumption of confectionery products and rising demand for baked foods owing to health consciousness. Asia Pacific is poised to emerge as the fastest growing market for confectionery ingredients over the forecast period. The rise in disposable income, increase in consumption of bakery and confectionery products, and growing urbanization and western influence will drive the growth of the market in the region. Furthermore, the Middle East & Africa market is projected to exhibit substantial growth owing to an increase in demand for confectionery products.
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Source: MarketersMedia
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