Latin America Confectionery Ingredients Market was estimated at USD 6.85 Billion in 2024 and is projected to reach USD 11.39 Billion by 2032, at a CAGR of 6.56% during the forecast period from 2024 to 2032.
Confectioneries are food products that involve products like chocolate and non-chocolate candy; gum; ice cream and frozen desserts; cookies, cakes, and pastries; and other sweet goods such as jams, jellies, and preserves. They are sold through broad retail chain which includes super markets, gourmet and specialty stores, and grocery stores.
The factors that are driving the market for Confectionery ingredients in Latin America are increasing demand for confectionery ingredients in diverse industries, and increasing consumer awareness about the health benefits of chocolate, with chocolate being one of the most famous confectionery ingredients.
But, the market growth can be constrained due to ill effects of confectionaries on health like diabetes and obesity, with increasing health awareness among people.
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.
With increasing retail stores, along with increasing disposable income, more and more companies are willing to exploit the markets of Latin America, as they envisage a great potential.
Major Key Players in the Latin America 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 , Arla Foods, and Tate & Lyle PLC
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