Confectionery Ingredient Market will Rise at a CAGR of 4.20% between 2017 & 2025

Global Confectionery Ingredient Market: Snapshot

The significant rise in the consumption of confectionery and bakery items has been influencing the growth of the confectionery ingredients market at the global level. The heavy demand for chocolate, sugar confectionery, and bakery products is likely to accelerate the progress of this market in the next few years. The influence of the western culture on the food habits of consumers in developing economies is also expected to boost the demand for confectionery in the near future, reflecting substantially on the sales of confectionery ingredients.

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The increasing demand for better food, fueled by the frequent changes in consumers’ lifestyle, have made it very difficult for food product manufacturers to meet the tastes and requirements of consumers, which has prompted confectionery producers to explore the market scope with the use of ingredients. This, as a result, is anticipated to open new growth avenues for the worldwide market for confectionery ingredients over the forthcoming years. The opportunity in this market is likely to rise at a CAGR of 4.20% between 2017 and 2025, progressing from a value of US$76.25 bn in 2016 to US$109.48 bn by the end of 2025.

Europe to Continue Leading Global Confectionery Ingredient Market

On the basis of the geography, the global market for confectionery ingredients has been categorized into North America, the Middle East and Africa, Europe, Asia Pacific, and Latin America. North America and Europe have emerged as the leading regional markets for confectionery ingredients. They collectively accounted for a share of more than 60% in the overall market in 2016. Europe is the dominant region in this market and is reported to have shown a higher consumption of confectionery products such as chocolates and gums.

The confectionery ingredients market in Europe is majorly driven by the growing demand of sweetened items, bread and ice cream in domestic regions, such as the U.K., Germany, France and the Rest of Europe. However, the demand for confectionery ingredients in this region is expected to exhibit a moderate growth rate over the forthcoming years, owing to its maturation.

Asia Pacific, on the other hand, is anticipated to register a higher growth rate as compared to the other regions between 2017 and 2025, especially in countries such as India, Japan, and China. The continual research on the consumption of chocolate and procurement of good quality confectionery ingredients from reliable sources are expected to complement the rise of the market for confectionery ingredients in this region in the near future.

Chocolate and Bakery Expected to Exhibit Fair Growth

Confectionery ingredients are widely utilized in chocolates, sugar confectionery, and bakery products. With a high consumption rate, the usage of these ingredients is significantly high in chocolates. Over the coming years, this trend is likely to remain so on the grounds of the growing awareness among consumers regarding the health benefits of dark chocolates. Bakery products and sugar confectionery are also projected to witness a considerable rise in the usage of confectionary ingredients in the near future due to the western influence in emerging economies and the changing palate of consumers across the world.

Cargill Inc., Olam International Ltd., E. I. Du Pont De Nemours and Co., Archer Daniels Midland Co., Ingredion Inc., Barry Callebaut, Tate & Lyle Plc, Koninklijke DSM N.V., and Kerry Group Plc are some of the key vendors of confectionery ingredients across the world.

Confectionery Ingredient Market will likely Clock a Value of US$109.5 bn by 2025

The competitive landscape in the global confectionery ingredients market is consolidated with a few big shot players, namely Olam International Ltd., Cargill Corp., Kerry Group, E. I. DuPont de Nemours and Co., and Tate and Lyle holding most of the share. In fact, in 2016, together they commanded over a whopping 80.0% share in the market. The holding pattern is expected to change little in the near term.

These prominent players in the global confectionary ingredients market mostly compete on the basis of product development and diversification. They are also seen deploying innovative marketing strategies to outsmart one another vis-à-vis sales.

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In the forecast period beginning from 2017 and ending in 2025, the global market for confectionery ingredients is predicted to rise at a steady CAGR of 4.2%. The market, which was worth US$76.25 bn in 2016, will likely clock a value of US$109.5 bn by the close of the forecast period in 2025-end.

The various types of confectionary ingredients available in the market are chocolate and cocoa, diary ingredients, sugar, sweeteners, emulsifiers, and others. At present, chocolate leads the pack due to its roaring popularity and widespread use in 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 chief geographic regions of the market for confectionery ingredients studied in the TMR report are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Europe, among them, holds maximum market share owing to the unabated rise in demand for sweetened items, bread, and ice creams. Germany, the U.K., and France are at the forefront of driving demand in Europe. The market in the region was worth US$25.4 bn in 2016. However, due to the market getting saturated in the region in the next couple of years, it will witness a slower growth rate.

Rising Awareness of Dark Chocolate Augurs Well for Market

With globalization and unprecedented proliferation of the media, the benefits of dark chocolate is known worldwide. Elaborates the lead analyst of the TMR report, “Dark chocolate is comprised of flavonoids and different other compounds that have potent antioxidant properties which help in protecting against cardiovascular and circulatory diseases.” This has resulted in the soaring demand of dark chocolate in various confectionery products and with globalization and better trade and commerce channels their sales have managed to increase in tandem. This, in turn has benefitted the global market for confectionery ingredients.

Adoption of Western Food Habits Pushes up Demand

In addition to that, the increasing uptake of western food habits, particularly in the emerging economies of Asia Pacific and the Middle East, has also led to rising demand for confectionary ingredients. This is because of the widespread popularity of bakery products such as cakes, biscuits, buns, and pastry, among others, which has led to the soaring usage of confectionary products. The increasing disposable incomes of the people has led them to buy more of such products instead of cooking traditional snacks at home.

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 Ingredients Market Led by Europe due to Strong Presence of Leading Players, finds TMR

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

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