Confectionery Ingredients Market Outlook Report 2024-2033 | Trends, Analysis, Insights, Overview

The confectionery ingredients market size has grown strongly in recent years. It will grow from $77.09 billion in 2023 to $82.36 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to globalization of taste, expansion of retail channels, marketing and branding strategies, demand for novelty and specialty products, consumer desire for texture varieties, rise in disposable income.

The confectionery ingredients market size is expected to see strong growth in the next few years. It will grow to $107.31 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to packaging innovations, focus on health and wellness, reduced sugar and sugar alternatives, expansion of premium and artisanal segments, globalization of flavor profiles, clean label preferences. Major trends in the forecast period include innovation in product formulations, technological advancements in processing, digitalization in marketing, customization and personalization, innovative flavors and combinations.

Market Overview -
Confectionery ingredients refer to items used in making confectionery products. Various sweet foods and consumables, such as baked goods and sweets, are referred to as confectionery.

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Rising Demand For Bakery And Confectionery Products To Drive Market Growth
The rising consumption of confectionery goods is driving the confectionery ingredients market. The confectionery goods include sweet foods and consumables, such as baked goods and sweets. The increasing demand for gourmet products and changing food habits are leading to a rise in confectionery products. Confectionery ingredients are used in making confectionery products. For instance, in November 2022, according to Agriculture and Agri-Food Canada, a Canada-based department of the government, total global retail sales of baked goods were equal to $425.7 billion in 2022, an increase from $407.2 billion in 2021. Therefore, increasing consumption of confectionery goods will propel the confectionery ingredients market.

Competitive Landscape -
Major companies operating in the confectionery ingredients market report are Cargill Incorporated, Archer Daniels Midland Company, DuPont de Nemours Inc., Kerry Group plc, Arla Foods amba, Tate & Lyle plc, Olam International Ltd., Barry Callebaut AG, Ingredion Incorporated, Koninklijke DSM NV, AAK AB, Döhler GmbH, Brisan Group, Tereos Starch & Sweeteners SAS, Mars Incorporated, Mondelez International Inc., The Hershey Company, Nestlé SA, Ferrero SpA, Chocoladefabriken Lindt & Sprüngli AG, Perfetti Van Melle SpA, Haribo GmbH & Co. KG, The Kraft Heinz Company, General Mills Inc., The Kellogg Company, Mars Wrigley Confectionery US LLC, Ferrara Candy Company, Jelly Belly Candy Company, FrieslandCampina Kievit BV, Symrise AG, Givaudan SA

Emerging Trend Of Organic Products Transforming The Confectionery Ingredients Market
Major companies operating in the confectionery ingredients market are launching organic products such as Organic Whole Milk Powder to gain a competitive edge in the market. The product is Ecocert certified, sourced exclusively from French dairy farms adhering to strict organic specifications. For instance, in May 2021, Lactalis Ingredients, a France-based dairy products manufacturing company launched Organic Whole Milk Powder. The spray-drying process retains the milk's natural goodness, resulting in a product with a rich dairy taste. With 26% fat content, the whole milk powder is versatile and suitable for applications such as chocolate, dairy, and baking.

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Key Segments -

The confectionery ingredients market covered in this report is segmented -
1) By Type: Dairy Ingredients, Cocoa and Chocolate, Emulsifiers, Sweetners, Oil and Shortening, Flavoring Ingredients, Other Types
2) By Source: Natural, Synthetic
3) By Form: Dry Form, Liquid Form
4) By Application: Chocolate Confectionery, Sugar Confectionery, Chewing Gums, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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