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Confectionery Fillings Market Trends, Strategies, Size, Share And Analysis 2024-2033
Confectionery Fillings Market Trends
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According to The Business Research Company's, The confectionery fillings market size has grown strongly in recent years. It will grow from $1.15 billion in 2023 to $1.22 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increasing consumer demand for sweet snacks, growth of the confectionery industry, rising disposable income, seasonal and festive demand for filled confections.
The confectionery fillings market size is expected to see strong growth in the next few years. It will grow to $1.5 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to rising popularity of nut-based fillings, growing popularity of vegan and gluten-free confectionery fillings, growing demand for clean label confectionery fillings, demand for sustainable confectionery, e-commerce growth, . Major trends in the forecast period include clean label and transparency, packaging innovation, online retail expansion, plant-based and vegan options, 3d printing for the production of confectionery fillings, nanotechnology to improve confectionery fillings.
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Market Drivers and Trends:
The rapid growth of the chocolate industry is expected to propel the growth of the confectionery fillings market going forward. The chocolate industry refers to the sector of the economy that involves the production, processing, distribution and sale of chocolate and chocolate-related products. Chocolate fillings provide enhanced taste and texture and create visually appealing contrasts within confectionery products. For instance, in December 2022, according to the Center for the Promotion of Imports from developing countries, a Netherlands-based government organization, global cocoa bean grinding activities totaled an estimated 4,973 thousand tons in the cocoa year 2020-2021, representing a 5.7% increase over 2019-2020. Therefore, the rapid growth of the chocolate industry is driving the growth of the confectionery fillings market.
Major companies operating in confectionery fillings are introducing sweet fruit mixes to gain a competitive edge in the market. Sweet fruit mixes refer to combinations of various fruits that are blended or mixed together to create a flavorful and typically sweet-tasting fruit medley. For instance, in June 2023, British Bakels, a UK-based company that manufactures confectionery products, launched a range of fruit fillings for its Ta-Da home baking range of sweet and savory mixes. These fruit-filling products are packed with whole fruit pieces that include various fruits such as wild blueberries, dark cherries, and strawberries. These products are simple to use at home, with high versatility, baking stability, and recyclable packaging.
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Confectionery Fillings Global Market Report 2024
Cargill Inc., Archer-Daniels-Midland Company, Tata and Lyle PLC, Parker Products LLC, FrieslandCampina Kievit N.V., Ferrero SpA, Kerry Group, Meiji Co., Barry Callebaut AG, Domson Ltd., Ingredion Incorporated, AGRANA Beteiligungs-AG, Danisco A/S, Döhler GmbH, Ashland Inc., AAK AB, Dawn Foods Products Inc., Royal Zeelandia Group BV, Zentis GmbH & Co. KG, Clasen Quality Chocolate Inc., Puratos Corporation, Clansen Quality Coating Inc., Taura Natural Ingredients, Fruit Fillings Inc., Alsiano A/S.
Confectionery Fillings Market 2024 Key Insights:
• The confectionery fillings market size is expected to see strong growth in the next few years. It will grow to $1.5 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
• Chocolate Industry's Rapid Expansion Fuels Confectionery Fillings Market Growth
• Competitive Edge In The Confectionery Fillings Market With The Introduction Of Sweet Fruit Mixes For Enhanced Flavor And Versatility
• Europe was the largest region in the confectionery fillings market in 2023
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