With
only a few players acquiring the most of the market, the global
market for confectionery ingredients demonstrates a highly
consolidated competitive landscape, states a report by Transparency
Market Research (TMR). In 2016, the leading five participants,
namely, Cargill Corp., Olam International Ltd., E. I. Du Pont De
Nemours and Co., Tate and Lyle, and Kerry Group, held more than 80%
of the overall market and the scenario does not seem to change in the
near future. The focus of these companies is on product innovation
and advancement, which is likely to remain so over the next few
years, notes the study.
As
per TMR’s estimations, the global market for confectionery
ingredient,
which was worth US$76.25 bn in 2016, is expected to rise at a CAGR of
4.2% during the period from 2017 to 2025 and reach a value of
US$109.48 bn by the end of the forecast period. Chocolates have
emerged as the main application area of these ingredients. Analysts
expect this trend to continue over the forthcoming years.
Demand
for Chocolate and Cocoa to Remain High
In
this report, chocolate and cocoa, sugar, dairy ingredients,
emulsifiers, and sweeteners have been considered as the key types of
confectionery ingredients available across the world. Currently, the
demand for chocolate and cocoa is higher than other ingredients and
the trend is expected to remain so in the near future.
The
report further presents a geographical assessment of the worldwide
market for confectionery ingredients. According to it, North America,
the Middle East and Africa, Europe, Asia Pacific, and Latin America
are the key regional markets for confectionery ingredients. Among
these, Europe emerged as the market leader in 2016 with a share of
more than 33%.
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more information on this report, fill the form @
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=17534
Over
the forecast period, researchers expect this regional market to
remain on the top, thanks to the high consumption rate of
confectionery products, such as chocolates and gums. The augmenting
demand of sweetened food products, breads, and ice creams in European
nations, such as the U.K., Germany, and France, is driving the Europe
confectionery ingredients market substantially and is expected to
continue doing so over the next few years, states the report.
Rising
Awareness about Benefits of Dark Chocolate to Reflect Positively on
Usage of Confectionery Ingredients
“The
increasing consumption of chocolates is the key factor behind the
rising demand for confectionery ingredients across the world,” says
a TMR researcher. The rising level of awareness among consumers
regarding the health benefits of dark chocolates is another
significant factor fueling the usage of confectionery ingredients.
The growing intake of premium chocolates and bakery items in affluent
countries is also aiding this market remarkably by sourcing more
cocoa and other ingredients to manufacture these products. With the
sudden decrease in the price of cocoa, manufacturers and other
sourcing companies can purchase it now at a lower price and stock it
for future usage, which is expected increase their profit in the near
future.
The
increasing adoption of western culture is likely to influence the
demand for confectionery products, which also is anticipated to boost
the growth of the worldwide confectionery ingredients market over the
forecast period. However, the presence of stringent international
quality standards and regulations may limit the usage of these
ingredients, reflecting negatively on this market, reports the
research study.
The
study presented here is based on a report by Transparency Market
Research (TMR), titled “Confectionery Ingredient Market (Type -
Chocolate & Cocoa, Sugar, Dairy Ingredient, Emulsifier, and
Sweeteners, Form - Dry and Liquid, Application - Chocolate, Sugar
Confectionery, and Bakery) - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2017- 2025.”
The
segments covered in the global confectionery ingredients market are
as follows:
By
Types
- Chocolate & Cocoa
- Sugar
- Dairy Ingredients
- Emulsifiers
- Sweeteners
- Others
By
Form
- Dry
- Liquid
By
Application
- Chocolate
- Sugar Confectionery
- Bakery
- Others
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