Confectionery Ingredient Market: Advanced Technologies & Growth Opportunities in global Industry

Global Confectionery Ingredient Market: Overview

Confectionery ingredients are used in the manufacturing of end products like chocolate, bakery products, beverages, sugar confectioneries among others. These ingredients include cocoa, dairy ingredients, emulsifiers, sugar, sweeteners and others in order to make a good product in the market for sale. These ingredients need to be mixed in required quantities in order to make a confectionery item. Sweeteners are a replacement of sugar products in the market and they considered as a healthy additive for health conscious consumers. They are less in calories and provide the same taste as that of sugar. Rapid consumption of chocolate is driving the growth of the chocolate market which is in turn fueling the demand for confectionery ingredients.

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Consumer awareness regarding the health benefits of consuming chocolate is fueling the demand for confectionery ingredients. Cocoa and other dairy ingredients added to chocolate are reported to have beneficial health related qualities. The cocoa content offers relief from illnesses such as high blood pressure, cholesterol, and other neurodegenerative diseases. Furthermore, the demand for confectionery products is increasing due to the changing demand of consumers and the influence of the western culture in terms of feeding habits in the developing economies. Confectionery items have become a necessary food item in recent times. The consumer’s lifestyle along with their demand changes with time and in order to meet their requirements, manufacturers of confectionery products including bakery are exploring with ingredients which is also backed by huge investments in research and development. However, confectionery manufacturers need to abide by various regulations and conditions while procuring ingredients and processing them into end products.

The cost of good quality ingredients is high, and international food regulatory organizations keep a check on suppliers and manufacturers to deliver a gourmet confectionery product to end consumers. High sugar content, adding of artificial flavors, and color are often harmful for the end products. For example, in India, non-permitted colorants are often added in many dairy products like milk, resulting in health hazards. According to Global Food Safety Initiative (GFSI), food retailers are demanding certifications from their suppliers due to the complex challenges faced by the food supply chain. Therefore, manufacturers find it difficult to meet the cost of purchasing good quality and high cost ingredients, and simultaneously keeping a check on the certifications of the supplier’s products.

Global Confectionery Ingredients Market: Segmentation

The global confectionery ingredient market is segmented into five types- chocolate & cocoa, emulsifiers, sugar, sweeteners, dairy ingredients. The global confectionery ingredient market was analyzed and found that the chocolate and cocoa segment has accounted for the largest market share in 2016. Furthermore, the market is categorized into two form as dry and liquid. The dry form of confectionery ingredient is the most widely used ingredient in the manufacturing of confectionery products due to its functional and operational excellence.

In addition, the global confectionery ingredient market is segregated into four segments- chocolate, sugar confectionery, bakery and others. The chocolate is the most widely used application in the confectionery industry. Not only because of its taste, but also the form of dark chocolate is good for health.

Geographically, the market has been further divided into five regions which include North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Europe accounted for the largest market for confectionery ingredient in 2016. North America held the second largest share with over 25% of the global confectionery ingredient market in 2016. Asia Pacific region has been identified to be the most promising and has been analyzed to have the fastest growth during the forecast period.

Companies Mentioned in the Report

The major players operating in the global confectionery ingredient market include Cargill Corporation, Olam International Ltd., E. I. Du Pont De Nemours and Co., Archer Daniels Midland, Barry Callebaut, Kerry Group, Tate and Lyle Plc, Koninklijke DSM N.V., ZuChem Inc., and Ingredion Inc.. 

Global Confectionery Ingredient Market: Increasing Consumption of Chocolates to Drive Growth, observes TMR

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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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