Overview and Scope
Sugar toppings refer to carbohydrates used in food to induce sweetness. These are made of finely crushed and grained sugar in the form of a powder that is used for garnishes. It is constantly enhanced with various components, including seasoning, butter, cream cheese, and egg whites, and utilized in a variety of cakes, chewing gum, sugar confectionery, and chocolates.
Sizing and Forecast
The sugar toppings market size has grown strongly in recent years. It will grow from $15.44 billion in 2023 to $16.84 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increased bakery and confectionery industry, consumer preference for sweet flavors, innovations in food decoration, convenience and ready-to-use products, retail and foodservice expansion.
The sugar toppings market size is expected to see strongly grown in the next few years. It will grow to $23.06 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to health-conscious consumer choices, clean label and natural ingredients, global culinary diversity, e-commerce and online platforms, functional ingredients and nutritional enhancement. Major trends in the forecast period include flavor innovation and variety, clean label and natural ingredients, health-conscious alternatives, texture and format innovation, packaging innovations for convenience.
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Segmentation & Regional Insights
The sugar toppings market covered in this report is segmented –
1) By Type: Dry, Wet
2) By Nature: Organic, Conventional
3) By Application: Bakery, Confectionery, Dairy, Ready-To-Eat Snacks, Convenience Food, Packaged Food
4) By Sales Channel: Retail, Groceries, Industrial, Food Services
Europe was the largest region in the sugar toppings market in 2023. The regions covered in the sugar toppings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing demand for baked goods is expected to propel the growth of the sugar toppings market going forward. Baked goods refer to a product made from a dough or batter that is baked. Sugar toppings are used to flavor and brighten baked foods such as cakes, cookies, and desserts. For instance, according to the government of Canada, the body responsible for the federal administration of Canada, the retail sales of baked goods are anticipated to rise at a CAGR of 2.2% from 2022 to 2026, reaching US$75.8 billion in 2026. Therefore, the increasing demand for baked goods is driving the sugar toppings market.
Key Industry Players
Major companies operating in the sugar toppings market report are The Hershey Company, The Kraft Heinz Company, The J.M. Smucker Company, W. T. Lynch Foods Ltd., Baldwin Richardson Foods Co., Pinnacle Foods Inc., Monin Inc., R.Torre & Company Inc., Sudzucker AG, Coansa SA Industries & Comercio, Paulaur Corporation, British Sugar plc, Tereos International, Mitr Phol Group, Watson Incorporated, Quaker Oats Company, Regal Food Products Group plc, Girardelli Chocolate Company, CK Products LLC, Cargill Inc., Tate & Lyle plc, Ingredion Inc., Ajinomoto Co. Inc., Kerry Group, Domino Sugar Corporation, Imperial Sugar Company, Zydus Wellness Ltd., Nordic Sugar A/S, Shree Renuka Sugars Ltd., Bannari Amman Sugars Limited
The sugar toppings market report table of contents includes:
1. Executive Summary
- Sugar Toppings Market Characteristics
- Sugar Toppings Market Trends And Strategies
- Sugar Toppings Market – Macro Economic Scenario
- Global Sugar Toppings Market Size and Growth
.
- Global Sugar Toppings Market Competitive Benchmarking
- Global Sugar Toppings Market Competitive Dashboard
- Key Mergers And Acquisitions In The Sugar Toppings Market
- Sugar Toppings Market Future Outlook and Potential Analysis
- Appendix
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