The
global confectionery ingredients market is reasonably consolidated
and is dominated by leading entities such as Cargill Corp., E. I.
DuPont de Nemours and Co., Olam International Ltd., Kerry Group, and
Tate and Lyle. These five players accounted for more than 80% of the
global confectionery ingredients market in 2016 and are likely to
retain a dominant hold over the confectionery ingredients market over
the coming years. Product innovation and consistent development of
existing product lines is the key competitive strategy adopted by
these companies and is likely to remain a promising tactic for
players in the global
confectionery ingredients market
in the coming years. Innovative marketing tactics could also bear
fruit for leading players in the confectionery ingredients market, as
rapid product diversification has resulted in a congested marketplace
in several regions.
According
to Transparency Market Research (TMR), the global confectionery
ingredients market is expected to exhibit a strong 4.2% CAGR between
2017 and 2025. The confectionery ingredients market was valued at
US$76.25 bn in 2016 and is expected to rise to close to US$109.5 bn
by the end of 2025.
Rising
Consumption of Dark Chocolate Vital for Confectionery Ingredients
Market
One
of the prime drivers for the global confectionery ingredients market
is the rising awareness about the health benefits of dark chocolate
and the resultant rise in demand for chocolate products. Dark
chocolate contains flavonoids and several other compounds that have
potent antioxidant properties and thus impart a protective effect
against cardiovascular and circulatory diseases. The increasing
availability of dark chocolate products to a wider consumer
demographic due to the steady geographic expansion of the global
chocolate industry has benefited the global confectionery ingredients
market and is likely to remain a key driver in the coming years.
The
rising adoption of Western food practices in emerging Eastern
countries is another key driver for the global confectionery
ingredients market. In contrast to conventional Eastern food
practices, Western food makes liberal use of confectionery
ingredients, leading to steady growth of the confectionery
ingredients market in regions such as Asia Pacific and the Middle
East. The growing popularity of bakery items is a key aspect of this
effect and is likely to be vital to the global confectionery
ingredients market in the coming years.
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Europe
to Retain Dominance in Global Confectionery Ingredients Market
Regionally,
Europe is the leading contributor to the global confectionery
ingredients market, and accounted for more than a third of the global
market in 2016. Europe is likely to remain the leading regional
player in the global confectionery ingredients market in the coming
years due to the firm presence of several leading brands in the
confectionery ingredients market, including the dominance of European
chocolate makers in the global chocolate market.
North
America is also likely to make vital contributions to the global
confectionery ingredients market in the coming years due to similar
reasons. The high domestic consumption of bakery and chocolate
products in North America is also a vital driver for the global
confectionery ingredients market, though the growing prevalence of
obesity and the numerous diseases it has been associated with could
help check the rise of the confectionery ingredients market in North
America.
By
product type, chocolate and cocoa is the leading segment of the
global confectionery ingredients market and is likely to remain the
dominant contributor in the coming years due to the steady popularity
of chocolate products as well as the rising demand for chocolate
flavoring in a range of other food and beverage products. Other key
product segments of the global confectionery ingredients market
include sugar, emulsifiers, dairy ingredients, and other sweeteners.
The
information in this preview comes from a Transparency Market Research
report 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
global confectionery ingredients market is segmented 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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