Asia Pacific Confectionery Ingredients Market

Asia Pacific Confectionery Ingredients Market Growth and Forecast (2023 - 2028):

The Asia Pacific Confectionery Ingredients Market size has been estimated at USD 14.32 Billion in 2022 and is projected to reach USD 20.94 Billion by 2028, at a CAGR of 7.94% during the forecast period from 2023 to 2028.

Market Overview:

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.

APAC Confectionery Ingredients Market Drivers and Restraints:

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. But 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.

Research Methodology:

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.

Asia Pacific Confectionery Ingredients Market Segmentation Analysis:

Asia-Pacific market for Confectionery Ingredients is segmented based on type, form, source and application. By type, the market is further sub-segmented into Cocoa & chocolate, Dairy ingredients, Hydrocolloids, Emulsifiers, Malts, Oils & shortenings, Starches & derivatives, Sweeteners, Flavors, Others (food color additives & flavors, functional systems, fruits & vegetables). By form, the market is further sub-segmented into Dry and Liquid. By source, the market is further sub-segmented into Synthetic and Natural. 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.

Geographical Segmentation Analysis:

Geographically, Asia-Pacific market for Confectionery Ingredients is segmented China, India, Japan, South Korea and Australia. 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.

Key Players in the market:

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
• Tate & Lyle PLC

Asia Pacific Confectionery Ingredients Market Research Report Key Highlights:

• Current and future market perspectives for Asia Pacific Confectionery Ingredients Market in developed and emerging markets.
• Analyze different market perspectives using the analysis of five Porter forces
• The segment that is expected to dominate the market.
• Regions that are expected to grow faster during the forecast period.
• Identify the latest developments, market shares, and strategies of key market participants.