Chocolate, bread products, drinks, and sugar confectioneries, among other things, require confectionery components. Confectionery makers have been driven to investigate and develop novel confectionery ingredients as consumer awareness of health issues has grown, boosting the confectionery ingredients industry's growth. Confectionery ingredients are widely used in a variety of industries, including sugar candy, chocolate, gums, and others, to make cereal bars, aerated confectionery, coatings, fillings, caramel, and a variety of other products.
COVID-19 Impact analysis
- key sales channels like as department stores and recreational facilities (cinemas, amusement parks, zoos, and swimming pools) were closed owing to lockdown restrictions, corporations reported a drop in revenues at the start of the year.
- Companies are reporting significant increases in human expenditures as a result of the corona pandemic, owing to heightened workplace safety measures, employee coronavirus testing, and higher absence due to illnesses, quarantine, and childcare.
- Confectionery manufacturers are additionally affected by growing agricultural raw material and packaging material costs, on top of dealing with these challenges. Furthermore, businesses face not just rising expenses, but also major supply issues with packaging materials.
Top Impacting Factors
- The food business is booming all around the world, and it could be a major driving force for the confectionery ingredients market.
- Confectionery ingredients provide stability, texture, and a number of other attributes, allowing them to be utilized in a wide range of food preparations.
- More than 70% of consumers prefer to use products with natural components and hence choose items that claim to be free of artificial components.
- Due to the rise in health consciousness among customers, the usage of clean-label products is becoming more popular, and food manufacturers can take advantage of confectionary ingredients to develop new goods.
Demand for Flavored Confectioneries Is Growing
Due to its unique taste attracting consumers, appealing packaging of products, and marketing & promotional activities conducted by key players to increase the outreach of their products among their targeted end-user segments, the demand for flavored confectioneries, such as chocolate, strawberry, orange, and others, has seen a steady increase in its growth. Ferrero, for example, produced Kinder Joy, a confectionary product that includes kinder toys within the chocolates as well as methods like blue chocolates and pink chocolates intended toward boys and girls, respectively. In addition, the firm has executed a number of marketing campaigns.
Demand for Low-Calorie Foods Is Growing
The demand for low-calorie food is making the industry as individuals become more oriented towards fitter and healthier lifestyles. Honey's popularity as a primary component in confections among health-conscious consumers, owing to its natural sweetness, is stifling the market's growth. The market for confectionery components is further hampered by the FDA's strict rules.Consumers' lifestyles, particularly their daily nutrition and health, are changing dramatically over the world. Several lifestyle diseases, including as diabetes, high blood pressure, and others, have risen as a result of these changes. Obesity, overweight, and diseases associated with it are becoming a substantial issue among consumers, posing huge difficulties to the long-term viability of healthcare systems around the world. To combat these disorders, consumers are progressively adjusting their tastes toward low-calorie and sugar-free foods.
Raw Material Price Fluctuations to Disrupt the Market's Demand-Supply Balance
Cocoa and sugar are two essential raw materials used in the creation of confectioneries all over the world. Sugar and cocoa prices have fluctuated over the years.Over the last few years, their output and demand have fluctuated dramatically in the global marketplace. The Unfavorable weather conditions, crop diseases, and other factors reduce cocoa and sugar output.Availability of labour, stock ratios, and other economic issues that obstruct the smooth flow of their operations
Key Benefits of the Report
- This study presents the analytical depiction of the Confectionery Ingredients Market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Confectionery Ingredients Market share.
- The current market is quantitatively analyzed to highlight the Confectionery Ingredients Market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Confectionery Ingredients Market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Report
- Who are the leading market players active in the Confectionery Ingredients Market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "Confectionery Ingredients Market" prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "Confectionery Ingredients Market"?
Confectionery Ingredients Market Report Highlights
Key Market Players
Tate & Lyle PLC, Archer Daniels Midland Company, Koninklijke DSM N.V.,, Kerry Group Plc, Olam International, Cargill Inc., Barry Callebaut, Ingredion Incorporated, AarhusKarlshamn, DuPont, Concord Foods Inc.