Market Overview
Confectionery ingredients mainly include chocolate, cocoa, emulsifier, sweeteners. Each confectionery ingredient has a unique property. These ingredients are mixed in required quantity during the preparation of confectionery products such as candy, chocolates, sweets, chewing gum, and others. Manufacturers are exploring the applications of confectionery ingredients in their manufacturing process owing to the benefits they provide. In confectionery ingredients, chocolate is used as a flavoring agent- improves blood vessels and reduce the risk of heart related diseases. Moreover, sweeteners are used as a healthy additive instead of sugar, which is attracting diabetic patients and obese population towards products.
Competitive Analysis
The major players in the confectionery ingredients market
• Cargill Incorporated (U.S.)
• Archer Daniels Midland Company (U.S.)
• I. du Pont de Nemours and Company (U.S.)
• Olam International (Singapore)
• Kerry Group plc (Ireland)
• Barry Callebaut (Switzerland)
• Tate & Lyle PLC (U.K.)
Confectionery ingredient market is expected to grow substantially during the the forecast period. Huge investment in R&D and technological surge are driving the growth of the global confectionery ingredients market. However, the various regulations which the confectionery manufactures need to abide of may hamper the growth of the market over the review period.
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Downstream Analysis
Confectionery ingredients are segmented on the basis of product type such as chocolates and cocoa, dairy ingredients, emulsifier, stabilizers and thickeners, sweeteners and others. Among all, chocolate is dominating in the market. Apart from being a flavoring agent, it also holds various health beneficial properties which is driving the growth of the chocolates in the confectionery ingredients.
On the basis of form, the confectionery ingredients are segmented as dry, liquid, and others. The dry form of confectionery ingredients is dominating the market based on its operational excellence as well as functional benefits.
Based on the application, the confectionery ingredients are segmented into sweets, candy, candy nuts, chocolates, chewing gum, and others. Among all, chocolate segment is dominating others. Rapidly increasing consumption of chocolates followed by increasing awareness about health benefits from chocolate consumption is driving the growth of the chocolate market, which, in turns, leads the growth of the confectionery ingredients.
Regional Analysis
The global confectionery ingredients market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Europe is projected to dominate the market followed by North America. High consumption of confectionery products and rising concern towards healthy lifestyle have supported the confectionery ingredients market. High focus on R&D has also contributed to the growth of confectionery ingredients in this region.
Moreover, Asia Pacific is expected to grow rapidly during the forecast period. Growing industrialization, increasing disposable income, and increasing consumption of confectionery products are driving the growth of confectionery products in this region. In Asia Pacific, China is the major contributor to the regional growth. Furthermore, the Middle East and Africa are assumed to grow over the forecast period owing to increasing demand for confectionery products and and growing concern towards healthy lifestyle.
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