The Asia Pacific Confectionery Ingredients Market size is estimated at USD 20.37 Billion in 2024 and is projected to reach USD 34.91 Billion by 2032, at a CAGR of 6.96% during the forecast period from 2024 to 2032.
Confectionery products include food products like chocolates, jams, preserves, cakes and pastries and other dessert items. These are sold through a wide range of retail chain bases like super markets, grocery stores, mass merchandisers, and gourmet and specialized stores.
The market for Confectionery ingredients in Asia-Pacific region is mainly driven due to the increasing demand for confectionery ingredients in diverse industries, along with other factors like rising disposable income and growing retail market.
The market growth can be hampered due to factors like raising health awareness among consumers and the effect of snacks and drinks market on the confectionary market.
The research done takes place in two phases namely
Secondary Research The first phase of the research process is extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. Extensive secondary research helps in generating hypothesis and identifying critical areas of interest that are investigated through primary research.
Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies.
By application, the market is further sub-segmented into Chocolate, Sugar confectionery, Gum, Others (fillings, coatings, caramel, aerated confectionery, spreads, and cereal bars). Cocoa & chocolate is the most widely used type of confectionery ingredients. Sugar confectionery application of the confectionery ingredients market is growing at the highest CAGR.
Asia-Pacific region is the fastest-growing market in the global confectionery ingredients market, in terms of market share, with the highest CAGR. Increasing urbanization and rising disposal income of consumers, along with advancement in developing countries are anticipated to impact the growth of the confectionary market in this region.
Major Key Players in the Asia Pacific Confectionery Ingredients Industry are Barry Callebaut, Olam International, Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, E. I. du Pont de Nemours and Company, Koninklijke DSM N.V, Kerry Group plc, Arla Foods, and Tate & Lyle PLC
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