The Confectionery Ingredients Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Confectionery Ingredients Global Market Report 2024, The confectionery ingredients market size has grown strongly in recent years. It will grow from $77.09 billion in 2023 to $82.36 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to globalization of taste, expansion of retail channels, marketing and branding strategies, demand for novelty and specialty products, consumer desire for texture varieties, rise in disposable income.
The confectionery ingredients market size is expected to see strong growth in the next few years. It will grow to $107.31 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to packaging innovations, focus on health and wellness, reduced sugar and sugar alternatives, expansion of premium and artisanal segments, globalization of flavor profiles, clean label preferences.. Major trends in the forecast period include innovation in product formulations, technological advancements in processing, digitalization in marketing, customization and personalization, innovative flavors and combinations.
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.
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The confectionery ingredients market covered in this report is segmented –
1) Confectionery Ingredients Market Confectionery Ingredients Market By Type: Dairy Ingredients, Cocoa and Chocolate, Emulsifiers, Sweetners, Oil and Shortening, Flavoring Ingredients, Other Types
2) Confectionery Ingredients Market Confectionery Ingredients Market By Source: Natural, Synthetic
3) Confectionery Ingredients Market Confectionery Ingredients Market By Form: Dry Form, Liquid Form
4) Confectionery Ingredients Market Confectionery Ingredients Market By Application: Chocolate Confectionery, Sugar Confectionery, Chewing Gums, Other Applications
Top Major Players
Archer Daniels Midland Company
Major companies operating in the confectionery ingredients market are launching organic products such as Organic Whole Milk Powder to gain a competitive edge in the market. The product is Ecocert certified, sourced exclusively from French dairy farms adhering to strict organic specifications. For instance, in May 2021, Lactalis Ingredients, a France-based dairy products manufacturing company launched Organic Whole Milk Powder. The spray-drying process retains the milk’s natural goodness, resulting in a product with a rich dairy taste. With 26% fat content, the whole milk powder is versatile and suitable for applications such as chocolate, dairy, and baking.
The confectionery ingredients market report table of contents includes:
1. Executive Summary
2. Confectionery Ingredients Market Characteristics
3. Confectionery Ingredients Market Trends And Strategies
4. Confectionery Ingredients Market – Macro Economic Scenario
5. Global Confectionery Ingredients Market Size and Growth
……
31. Global Confectionery Ingredients Market Competitive Benchmarking
32. Global Confectionery Ingredients Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Confectionery Ingredients Market
34. Confectionery Ingredients Market Future Outlook and Potential Analysis
35. Appendix
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