Confectionery Ingredients Market size was valued at USD 74.81 billion in 2022, estimated to reach at USD 111.75 billion by 2029, growing at a significant CAGR of 5.9% from 2023-2029. Confectionery refers to sweet foods such as sweets, toffees, gumdrops, cotton candy, and other sweet confections. Bakers' confectionery and sugar confectionery are the two main varieties of confectionery. Cakes, sweet desserts, and other baked goods are made by bakers. Chocolate bars, sweetmeats, bubble gum, and other sugar confectionary are only a few examples. Various ingredients, both naturally and synthetically sourced, are utilized to make confectionary items. Whey components, also including milk and whey powder, can also be used in confectionery. Lactose has a unique feature that gives confectionery items a variety of functional benefits. Whey powder aids in the reduction of sugar, energy, and the substitution of other Dry milk products. Sucrose, sugar, water, syrup, skimmed milk, confectioners sugar, and a variety of other ingredients are used in confectionery. The rising demand for natural ingredients as a result of increased consumer awareness is a major growth factor in the confectionery ingredients industry.
The increasing R&D and innovations to boost the confectionery ingredients industry are the primary factors driving the economy for confectionery ingredients. Furthermore, throughout the projected period of 2021 to 2028, the increasing number of confectioneries uses, as well as the many health benefits of chocolates and shifting customer habits, are all driving up total demand for confectionery ingredients. Furthermore, increasing confectionery consumption in developed and developing countries, as well as growing preference for sugar-free products due to increased consumer health consciousness, are key drivers of the worldwide confectionery ingredients market. Moreover, volatile cocoa prices, as well as ability to adhere to international quality regulations and standards for confectionery ingredient goods, are expected to act as a limitation on the market's growth, so even though increasing substitution of confectionery goods and high customer needs for clean brand packaging, have the potential to pose a threat to the market's growth. Furthermore, continual R&D and advancements in the confectionery ingredients industry, as well as a quickly changing tendency for organic ingredients among candy producers, will open new possibilities for the confectionery ingredients market during the projected period.
Fastest Growing Market
The change in the lifestyle of the people is enhancing the growth of the confectionery ingredients market. Soaring demand for sugar-free products owing to the conditions such as diabetes and obesity is anticipated to drive the growth of the market. The burgeoning health consciousness among the people is attributing to the growth of the confectionery ingredients market. The introduction of new products in various colors and flavors is adding a scope for the growth of the market by providing an opportunity to the manufacturers in the expansion of their product portfolio. The growing awareness regarding the health benefits of chocolates is adding fuel for the growth of the market. However, the stringent FDA regulations are hampering the growth of the confectionery ingredients market. Moreover, the use of synthetic colors is hindering the growth of the market.
The confectionery ingredients market is projected to expand at a CAGR of 5.90% during the forecast period
Aarhus Karlshamn, Cargill, Incorporated, Archer Daniels Midland Company, Olam International, Barry Callebaut
Europe is the fastest-growing region for the confectionery ingredients market