Categories: Market Research

Confectionery Ingredients Market Size and Forecast 2024-2033| Cargill Incorporated, Archer Daniels Midland Company, DuPont de Nemours Inc., Kerry Group PLC, Arla Foods amba

Top view of dark kitchen table filled with ingredients for preparing homemade chocolate brownies. The composition is arranged at the center of the frame. A large mixing bowl filled with chocolate spread mix and a wire whisk is at the center and all around it are other ingredients like butter, powdered cocoa, sugar, flour, eggs, chocolate bars salt and hazelnuts. Predominant color is brown. Low key DSRL studio photo taken with Canon EOS 5D Mk II and Canon EF 100mm f/2.8L Macro IS USM.

Overview and Scope

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.

Sizing and Forecast

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.

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Segmentation & Regional Insights

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

Europe was the largest region in the confectionery ingredients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the confectionery ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting 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.

Key Industry Players

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

The confectionery ingredients market report table of contents includes:

1. Executive Summary

2. Confectionery Ingredients Market Characteristics

3. Confectionery Ingredients Market Trends And Strategies

4. Confectionery Ingredients Market – Macro Economic Scenario

5. Global Confectionery Ingredients Market Size and Growth

26. South America Confectionery Ingredients Market

27. Brazil Confectionery Ingredients Market

28. Middle East Confectionery Ingredients Market

29. Africa Confectionery Ingredients Market

30. Confectionery Ingredients Market Competitive Landscape And Company Profiles

Top Major Players: