PUNE, India, September 7, 2016 /PRNewswire/ --
The report "Confectionery Ingredients Market by Type (Cocoa & Chocolate, Dairy Ingredients, Hydrocolloids, Emulsifiers, Malts, Oils & Shortenings, Starches & Derivatives, Flavors), Application (Chocolate, Sugar Confectionery, Gums), Form - Global Forecast to 2021", The market is projected to reach USD 76.81 Billion by 2021, at a CAGR of 6.2% from 2016 to 2021.
Browse 95 market data Tables and 79 Figures spread through 195 Pages and in-depth TOC on "Confectionery Ingredients Market"
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The increasing demand for confectionery ingredients in diverse industries including chocolate, sugar confectionery, gums, and other industries which include fillings, coatings, caramel, aerated confectionery, spreads, and cereal bars; changing consumer lifestyles; R&D & product innovations, increasing demand for natural ingredients due to increasing consumer awareness, and health benefits of chocolates result in the growth of the confectionery ingredients market.
Cocoa & chocolate: the most widely used type of confectionery ingredients
The cocoa & chocolate segment has been estimated to lead the market in terms of value and volume, mainly due to the large quantity they are used in, growing industrialization, changing consumers' lifestyle with evolving eating habits, health benefits of chocolates, growing consumer's awareness, safety attached to it, R&D in terms of product innovation & new product development, and producers' inclination towards profitability.
Sugar confectionery application of the Confectionery Ingredients Market to grow at the highest CAGR during the forecast period
The sugar confectionery segment is projected to grow at the highest CAGR from 2016 to 2021. Increasing consumer preference for soft & chewy products, product innovations by confectionery ingredient manufacturers to develop low calorie & sugar free alternatives as part of their product lines, growing trend of gifting confectionery products on occasions & festivals, diverse application in candies, soft chews, marshmallows & other confectionery products, and lower production costs, along with the possibility of large-scale production drive the demand for sugar confectionery in the Confectionery Ingredients Market.
Asia-Pacific is projected to be the fastest-growing region in the Confectionery Ingredients Market
The European region was the largest market for confectionery ingredients in 2015. The Asia-Pacific region is projected to be the fastest-growing market for confectionery ingredients during the forecast period. The market here is driven by increasing urbanization, growing disposable income with increasing purchasing power, growing middle-class population, and advancements in food technology. China dominated the Asia-Pacific market for confectionery ingredients owing to the rapidly growing industrialization, increasing consumption of confectionery products, and investments in R&D.
The Confectionery Ingredients Market report studies marketing and development strategies, along with the product portfolio of leading companies such as Cargill, Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Olam International (Singapore), Barry Callebaut (Switzerland), E. I. du Pont de Nemours and Company (U.S.), Koninklijke DSM N.V. (Netherlands), Kerry Group plc (Ireland), Arla Foods (Denmark), Tate & Lyle PLC (U.K.), Ingredion Incorporated (U.S.), and AarhusKarlshamn (Sweden).
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