Confectionery Ingredients Market

Global Confectionery Ingredients Market Size (2024 To 2032)

The size of the global confectionery ingredients market is expected to be worth USD 86.67 billion in 2024 and grow at a CAGR of 6.20% from 2024 to 2032 to achieve USD 140.24 billion by 2032. The growing demand for confectionery products is driving the growth of the confectionery materials market.

Confectionery items are foods based on chocolate or sugar that are generally consumed as snacks. The confectionery is divided into two categories, namely sweets and bakery. Sweets have fewer micronutrients and protein, but lots of calories. It can be a fat-free food, but some candies, especially fried dough, are high in fat. Most sweets are called empty calories. Baker's pastry is also known as a flour confectionery, which includes cakes, pastries, and similar baked goods. The bakery is a broad term that includes sweet products made from sugar-based sweets and candies. Sugar and sweeteners are the main ingredients of confectionery products. Other sweeteners like glucose syrup, corn syrup, molasses, and aspartame are also used to make confectionery products. The global confectionery market is driven by further industrialization and increased demand for confectionery products worldwide.

MARKET DRIVERS

As the number of health-conscious consumers and the preference for confectionery ingredients increases, the global market for confectionery ingredients is anticipated to grow during the outlook period.

The increased investment by various industry players in innovation and R&D activities is expected to have a positive impact on the future growth of the confectionery materials market. Furthermore, as consumer awareness of the health benefits of chocolate increases, the market for confectionery ingredients is expected to strengthen globally in the coming years. The growing demand for natural ingredients, changes in eating habits, and the increasing trend for chocolate gifts at special events and celebrations are supposed to accelerate the growth of the global confectionery market in the coming years. Confectionery ingredients are in high demand in a variety of industries, including sugar, chocolate, and chewing gum confectionery to make cereal confectionery, aerated confectionery, toppings, fillings, candy, and other types of spreads.

In addition, changes in lifestyles and consumer preferences are assumed to drive growth in the global confectionery ingredients market during the projection period. Since the chocolate industry is good for health, it mainly uses confectionery ingredients. This is expected to further lead the world market for confectionery components in the future. The main market participants are mainly focused on providing new innovative products to improve the taste of food and attract customers. Increased demand for sugar-free products, such as candies and cakes for obese and diabetic patients, increased industrialization, increased per capita energy consumption, and the use of naturally derived colors with emulsion technology is presumed to drive growth in the global confectionery market.

The strategic growth of the world's leading supplier of confectionery materials reflects this supplier's monopoly. The demand for confectionery products comes from a variety of hardness, such as food processing equipment, restaurants and household items, and the leading suppliers have penetrated these consumer sectors. In the global confectionery market, small suppliers are foreseen to form collective alliances to stay in the market. Additionally, increasing health awareness, changing eating habits, and product and lifestyle innovation are other factors that are suspected of driving the growth of the global confectionery ingredients market. Also, due to factors such as R&D and innovation to improve the growth of the confectionery materials market during the forecast period.

MARKET RESTRAINTS

The harmful effects of synthetic colors and strict FDA regulations on private labels are factors that can hinder the growth of the confectionery market.

Besides, fluctuations in cocoa prices and quality standards and norms for confectionery raw materials are key drivers of market growth during the forecast period. The demand for low-calorie foods is expected to increase as people move toward a healthier and healthier lifestyle. This trend may hinder the growth of the world market for confectionery ingredients.

REPORT COVERAGE

REGIONAL ANALYSIS

In Europe, as the demand for confectionery ingredients increases and the popularity of garlic flavoured foods increases among people, it has a significant share of the global confectionery ingredients market. The European confectionery ingredients market is mainly driven by increased demand for sweeteners, bread and ice cream in national regions such as the United Kingdom, Germany, France and other European areas. However, the need for confectionery ingredients in the region is estimated to show a moderate growth rate in the coming years due to maturity.

The Asia Pacific confectionery ingredients market is likely to show the highest annual growth rate during the projection period due to the increase in people's disposable income. Also, in emerging nations like India and China, confectionery ingredients are becoming more popular due to lifestyle changes and the growing urban population that prefers confectionery products. North America and Europe have become the leading regional markets for confectionery ingredients. It represented more than 60% of the total market.

The Asia Pacific region is expected to be the fastest-growing region in the world in the confectionery materials market, driven by higher demand for confectionery products, higher disposable income due to greater purchasing power and, especially, larger regional players. In countries, such as India and China, this may be due to the increasing demand for confectionery ingredients and the presence of the main actors operating in the country. Awareness is expected to increase market growth. Continued research on chocolate consumption and the acquisition of quality confectionery ingredients from reliable sources is deemed to complement the surge in the confectionery market in the region in the near future. Furthermore, due to the increase in disposable income, changes in consumption patterns and the presence of prominent active actors in the emerging economies of the region, it provides a new way to grow the target market.

KEY PLAYERS IN THE GLOBAL CONFECTIONERY INGREDIENTS MARKET

Major key players in the global confectionery ingredients market 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, Tate & Lyle PLC, Concord Foods Inc and Others.

RECENT HAPPENINGS IN THE MARKET

• In 2016, Ferrero presented Kinder Joy, a confectionery made up of different types of toys and chocolate.
• February 2019: Cargill, a private company, based in Minnesota, announced the launch of a new cocoa powder called Gerkens CT70. It was developed to create a chocolate experience in the smell and taste of baked goods. The company has partnered with renowned market research firm Ipsos. Baked goods made from CT70 have been blind tested.
• In 2018, Nestlé S.A. launched a new confectionery product, 'Milky bar Wowsomes', with approximately 30% less sugar compared to other chocolate bars. This product contains only natural ingredients and does not contain artificial sweeteners.

DETAILED SEGMENTATION OF THE GLOBAL CONFECTIONERY INGREDIENTS MARKET INCLUDED IN THIS REPORT

This research report on the global confectionery ingredients market has been segmented and sub-segmented based on type, source, form, application, and region.

By Type

• Cocoa & Chocolate
• Dairy Ingredients
• Oils & Shortenings
• Others (Starch & Derivatives, Hydrocolloids, Emulsifiers, Malts, Sweeteners, Flavors)

By Source

• Synthetic
• Natural

By Form

• Dry
• Liquid

By Application

• Chocolate
• Sugar Confectionery
• Gum
• Others (Coating, Fillings, caramel, aerated confectionery)

By Region

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa