Confectionery Ingredient Market: Advanced Technologies & Growth Opportunities in global Industry
Confectionery ingredients are used in the manufacturing of end products like chocolate, bakery products, beverages, sugar confectioneries among others. These ingredients include cocoa, dairy ingredients, emulsifiers, sugar, sweeteners and others in order to make a good product in the market for sale. These ingredients need to be mixed in required quantities in order to make a confectionery item. Sweeteners are a replacement of sugar products in the market and they considered as a healthy additive for health conscious consumers. They are less in calories and provide the same taste as that of sugar. Rapid consumption of chocolate is driving the growth of the chocolate market which is in turn fueling the demand for confectionery ingredients.
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Consumer awareness regarding the health benefits of consuming chocolate is fueling the demand for confectionery ingredients. Cocoa and other dairy ingredients added to chocolate are reported to have beneficial health related qualities. The cocoa content offers relief from illnesses such as high blood pressure, cholesterol, and other neurodegenerative diseases. Furthermore, the demand for confectionery products is increasing due to the changing demand of consumers and the influence of the western culture in terms of feeding habits in the developing economies. Confectionery items have become a necessary food item in recent times. The consumer’s lifestyle along with their demand changes with time and in order to meet their requirements, manufacturers of confectionery products including bakery are exploring with ingredients which is also backed by huge investments in research and development. However, confectionery manufacturers need to abide by various regulations and conditions while procuring ingredients and processing them into end products.
The cost of good quality ingredients is high, and international food regulatory organizations keep a check on suppliers and manufacturers to deliver a gourmet confectionery product to end consumers. High sugar content, adding of artificial flavors, and color are often harmful for the end products. For example, in India, non-permitted colorants are often added in many dairy products like milk, resulting in health hazards. According to Global Food Safety Initiative (GFSI), food retailers are demanding certifications from their suppliers due to the complex challenges faced by the food supply chain. Therefore, manufacturers find it difficult to meet the cost of purchasing good quality and high cost ingredients, and simultaneously keeping a check on the certifications of the supplier’s products.
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Global Confectionery Ingredients Market: Segmentation
The global confectionery ingredient market is segmented into five types- chocolate & cocoa, emulsifiers, sugar, sweeteners, dairy ingredients. The global confectionery ingredient market was analyzed and found that the chocolate and cocoa segment has accounted for the largest market share in 2016. Furthermore, the market is categorized into two form as dry and liquid. The dry form of confectionery ingredient is the most widely used ingredient in the manufacturing of confectionery products due to its functional and operational excellence.
In addition, the global confectionery ingredient market is segregated into four segments- chocolate, sugar confectionery, bakery and others. The chocolate is the most widely used application in the confectionery industry. Not only because of its taste, but also the form of dark chocolate is good for health.
Geographically, the market has been further divided into five regions which include North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Europe accounted for the largest market for confectionery ingredient in 2016. North America held the second largest share with over 25% of the global confectionery ingredient market in 2016. Asia Pacific region has been identified to be the most promising and has been analyzed to have the fastest growth during the forecast period.
Companies Mentioned in the Report
The major players operating in the global confectionery ingredient market include Cargill Corporation, Olam International Ltd., E. I. Du Pont De Nemours and Co., Archer Daniels Midland, Barry Callebaut, Kerry Group, Tate and Lyle Plc, Koninklijke DSM N.V., ZuChem Inc., and Ingredion Inc..
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