Confectionery Ingredients Market - Global Growth, Trends, and Forecast-2023

Confectionery Ingredients Market Overview

Confectionery is related to food products which are known as candies, toffees, lollipops, cotton candy and other sweet items. The confectionery is basically categorized into two types namely bakers confectionery and sugar confectionery. Bakers hold cakes, sweet pastries, and others. Sugar confectionery carries chocolates, sweetmeats, chewing gum, and many more. To produce confectionery products, various ingredients are utilized which can be naturally or synthetically sourced. Confectionery products are produced with whey ingredients such as lactose and whey powder. The lactose has a distinct property that provides several functional advantages in confectionery products. Whey powder helps in reducing sugar, proteins, and replace other milk products. Additional confectionery ingredients include sucrose, glucose, water, syrup, skimmed milk, icing sugar and much more

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The market for confectionery ingredients is essentially driven due to growing industrialization, and changing consumers’ lifestyle with evolving eating habits coupled with growing consumer’s awareness regarding the health advantages of chocolates. Also, R&D in terms of product innovation & new product development is also driving the market growth. But, the market growth is constrained due to health awareness among consumers, as Confectionary mainly involves products made from sugar, which has a huge amount of calories.

Confectionery Ingredients Market Report (2018-2023)

The Global Confectionery Ingredients market has been estimated at USD 64.97 Billion in 2018 and is projected to reach USD 88.18 Billion by 2023, at a CAGR of 6.3% during the forecast period from 2018 to 2023.

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Confectionery Ingredients Market Segmentation

The global market for Confectionery Ingredients is divided based on type, form, source, and application. By type, the market is additionally sub-segmented into Cocoa & chocolate, Dairy ingredients, Hydrocolloids, Emulsifiers, Malts, Oils & shortenings, Starches & derivatives, Sweeteners, Flavors, Others (food color additives & flavors, functional systems, fruits & vegetables). By form, the market is additionally sub-segmented into Dry and Liquid. By source, the market is further divided into Synthetic and Natural. By application, the market is classified into Chocolate, Sugar confectionery, Gum, Others (fillings, coatings, caramel, aerated confectionery, spreads, and cereal bars). Cocoa & chocolate is the most extensively used type of confectionery ingredients. Sugar confectionery application of the confectionery ingredients market is increasing at the highest CAGR.

Geographically, the Global market for Confectionery Ingredients is classified into North America, Asia Pacific, Latin America, Europe, and Middle-East and Africa. Europe is the highest market for confectionery ingredients in terms of market share contribution in the global market. Asia-Pacific is expected to witness the largest growth owing to factors like economic developments paired with rising urbanization.

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Major Players

Some of the major companies operating in the current Market are

Barry Callebaut,
Olam International,
Cargill,
Incorporated,
Archer Daniels Midland Company,
Ingredion Incorporated,
I. du Pont de Nemours and Company,
Koninklijke DSM N.V.,
Kerry Group plc,
Arla Foods,
Tate & Lyle PLC
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