Global Confectionary Ingredients Market Size, Share, Opportunities And Trends By Type (Dairy Ingredients, Sweeteners, Flavours, Oils and Shortening, Emulsifiers, Others), And By Geography - Forecasts From 2023 To 2028

Confectionary products made primarily of sugar are known as candy or lollipops. Sugar confectionery includes sweet confections such as chocolate, sugar candy, liquorice, chewing gum, and candied fruits, vegetables, and nuts.

There is a wide variety of vibrant, tasty confections on the market today that delight the eyes and the palate. Whether it be candies, lollipops, bite-sized chocolates, biscuits, or other sweets, adults, as well as children, love to eat them. Although adults prefer to eat confectionaries that are sugar-free because of rising health awareness. The art of confectionery involves combining sugar and a binding agent based on carbohydrates to create candies but nowadays other ingredients are added to them to make them more flavourful and appealing to consumers. Some examples of confectionary ingredients are fruits, dry fruits, nuts, sugar, pectin, gelatine, acids such as lemon juice or vinegar, flavour essence and colour.

Growing industrialization and a surge in the demand for confectionary goods throughout the world are driving the market for confectionery ingredients during the analysis period. Moreover, as a result of factors like increased innovations to support the market for confectionery ingredients, as well as regular releases of newly designed items like coatings, caramel & aerated confectionery, fillings, etc are providing new opportunities to the market players.

However, volatile prices of raw materials such as sugar and cocoa, stringent rules and regulations implemented by the government, and ambiguity about the consumption of confectionary products owing to health concerns, are expected to hinder the growth of the global market for confectionery ingredients during the forecast period.

High demand for confectionary products and new product launches are expected to support the growth of the global market for confectionery ingredients during the production period.

There were significant sales and profits generated by confectionery, which continue to grow at a faster rate than most other categories. The fact that chocolate and candies are viewed as a special treat within a balanced, contented lifestyle is further evidence of this. According to a report published by National Confectioners Association, United States confectionery sales reached US$36.9 billion in 2021 which includes confectionery stores, vending machines, bookstores, commissaries, convenience stores, pharmacies, and dollar stores. Out of which US$16.7 billion came from chocolate confections, US$ 9.1 billion came from non-chocolate confections such as hard candy, liquorice, taffies, etc, and US$3.1 billion came from gums & mints. According to European Union, the average consumption of chocolate in Europe is 5 kilograms per capita in 2021. The Syndicat Du Chocolat data shows that all of the countries with the highest chocolate consumption rates are in Europe. With an annual per capita intake of 11 kilograms, the Swiss consume the most chocolate, followed by Germany with 9.1 kilograms and Estonia with 8.3 kilograms. As a result, high confectionery demand from around the world will propel growth for confectionery ingredients.

Transparency on labels and the use of healthy components are in high demand. Internationally, the two most popular categories for confectionery claims are ethical and sustainable, with no additives or preservatives, fewer allergies, gluten-free, sugar-free or low-sugar, and organic also making the list. Consumers are prepared to pay more for goods that can effectively meet these wants all around the world. A survey conducted by the National Confectioner Association shows, 44 per cent of people say they'd want to try sugar-free or low-sugar chocolate or confectionery in 2021. This is an improvement from 31% two years ago. The need to control total sugar consumption is the main motivator for interest in low-sugar or sugar-free chocolate or candy, while age differences in interest drivers are significant. It's noteworthy that 36% of Gen Z are interested because they like the flavour of low-sugar or sugar-free products. As a result, companies are coming up with ingredients to cater to such requests which are also expected to drive growth.

Asia Pacific is anticipated to hold a significant amount of market share in the global confectionery ingredients sector during the forecast period

Asia Pacific region is anticipated to hold a significant amount of market share in the global confectionery ingredients. Due to the rising demand for confectionery goods, rising disposable income with rising purchasing power, and the growing number of regional players, particularly in countries like India and China, the Asia-Pacific region is predicted to experience the fastest growth in the global market for confectionery ingredients. The market is also expected to develop faster as western culture is increasingly adopted and consumers become more aware of the health advantages of eating dark chocolate. The presence of key market players in the region such as Cargill, Kerry, and Archer Daniels Midlands is also driving the growth of confectionery ingredients in the Asia Pacific. Prime markets in the Asia Pacific region include India, China, Japan, South Kore, Taiwan, Indonesia, and Thailand.

Market Key Developments

• In February 2023, Tate & Lyle ingredients solutions company has undergone a significant brand makeover as part of its efforts to diversify its business activities and create new products for the snack and confectionery industries. According to the firm's explanation to Confectionery Production, the change includes a new logo, font, iconography, and narrative emphasis for the company that it hopes will prove to be a key turning point for the enterprise. In an effort to spur future growth, the 160-year-old firm has a new slogan: "Science, solutions, and society." Notably, the corporation has renounced its initial sugar holdings in favor of developing a variety of new healthy snacks, confections, and other food items.
• In January 2023, Kerry, a maker of confectionery ingredients, started exclusive talks to sell its sweet ingredients division to IRCA for €500 million ($538 million) as part of efforts to consolidate its portfolio.
• In August 2022,  Fazer, a major player in the Finnish food sector, started research and development on cell-based chocolate, which would enable the cultivation of components for confections without the need for conventional agricultural inputs. It is vital to look at alternate sources of cocoa since climate change threatens the traditional cocoa-growing regions in the equatorial portions of the world.

Global Confectionary Ingredients Market Scope:

 

Report Metric	Details
Growth Rate	CAGR during the forecast period
Base Year	2021
Forecast Period	2023 – 2028
Forecast Unit (Value)	USD Billion
Segments Covered	Type and Geography
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered	Archer Daniels Midland Company, Cargill, Tate and Lyle PLC, Du Pont, Olam International, Ingredion Incorporated, Kerry Inc, Barry Callebaut, International Flavors and Fragrance, Corbion
Customization Scope	Free report customization with purchase

 

Segmentation:

• By  Type
  • Dairy Ingredients
  • Sweeteners
  • Flavours
  • Oils and Shortening
  • Emulsifiers
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Others
  • South America
    • Brazil
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Others
  • Middle East and Africa
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Taiwan
    • Thailand
    • Indonesia
    • Others

1.  INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL CONFECTIONERY INGREDIENTS MARKET, BY TYPE

5.1. Introduction

5.2. Dairy Ingredients

5.3. Sweeteners

5.4. Flavors

5.5. Oils & Shortenings

5.6. Emulsifiers

5.7. Others

6. GLOBAL CONFECTIONERY INGREDIENTS MARKET, BY GEOGRAPHY

6.1. Introduction

6.2. North America

6.2.1. United States

6.2.2. Canada

6.2.3. Mexico

6.3. South America

6.3.1. Brazil

6.3.2. Argentina

6.3.3. Others

6.4. Europe

6.4.1. United Kingdom

6.4.2. Germany

6.4.3. France

6.4.4. Spain

6.4.5. Others

6.5. The Middle East and Africa

6.5.1. Saudi Arabia

6.5.2. UAE

6.5.3. Israel

6.5.4. Others

6.6. Asia Pacific

6.6.1. Japan

6.6.2. China

6.6.3. India

6.6.4. South Korea

6.6.5. Indonesia

6.6.6. Thailand

6.6.7. Others

7. COMPETITIVE ENVIRONMENT AND ANALYSIS

7.1. Major Players and Strategy Analysis

7.2. Emerging Players and Market Lucrativeness

7.3. Mergers, Acquisitions, Agreements, and Collaborations

7.4. Vendor Competitiveness Matrix

8. COMPANY PROFILES

8.1. Cargill, Incorporated

8.2. ADM

8.3. Olam International

8.4. Du Pont

8.5. Kerry Inc.

8.6. Tate & Lyle PLC

8.7. Ingredion Incorporated

8.8. Barry Callebaut

8.9. International Flavours and Fragrance

8.10. Corbion

Archer Daniels Midland Company

Cargill

Tate and Lyle PLC

Du Pont

Olam International

Ingredion Incorporated

Kerry Inc

Barry Callebaut

International Flavors and Fragrance

Corbion