Market Outlook for Confectionery Ingredients Market:
Confectionery ingredients are used to prepare several products such as hard candies, chocolates, gummies, chewing gums, marshmallows, water jelly, etc. The confectionery ingredients are available in the form of powder or liquid. Confectionery ingredients are used to prepare properly emulsified food products that have the perfect sweetness, texture, and mouth feel. Confectionery ingredients have several applications in the food industry as it has emulsification property, provides stability, enhances the texture, improves viscosity, etc., which enables to develop food products with perfect flavor. The confectionery ingredients market is expected to increase in regions such as GCC (Gulf Cooperation Council) and Asia Pacific.
Global Expansion in the Food Segment Might Boost the Growth of Confectionery Ingredients Market
The food industry is flourishing at a very high rate all across the globe and might serve as a major driver for the confectionery ingredients market. Confectionery ingredients provide stability, texture, and provide various other properties, and therefore, can be used to prepare a variety of food products. More than 70% of consumers prefer the use of products that contain natural ingredients and therefore chose the products that claim to have no artificial ingredients. The trend for the use of clean-label products is rising due to the increase in health awareness among the consumers, and therefore, the manufacturers of the food product can make use of confectionery ingredients to develop innovative products that have low-fat content, low sugar content, etc. The development of such food products might attract health-conscious consumers, and thus, there might be an increase in the confectionery ingredients market.
Confectionery ingredient such as cocoa has the antioxidant property that helps to improve the sugar and cholesterol levels. The confectionery ingredients provide various health benefits, e.g. cocoa powder is rich in polyphenols and provides health benefits such as reduces the risk of heart stroke, improves blood-pressure, etc., and thus, might attract the consumers that prefer healthy food products. Therefore, due to its various health benefits, the confectionery ingredients market might increase.
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Global Confectionery Ingredients Market: Segmentation:
The global Confectionery Ingredients market is segmented on the basis of nature, form, source, end use, and type-
Confectionery Ingredients segmentation on the basis of nature:
Confectionery Ingredients segmentation on the basis of form:
Confectionery Ingredients segmentation on the basis of source:
Confectionery Ingredients segmentation on the basis of end-use:
- Hard Candies
- Others (e.g. Caramels, Aerated Confectionery, etc.)
Confectionery Ingredients segmentation on the basis of type:
- Oil and shortenings
- Starch and derivatives
- Dairy ingredients
- Flavoring ingredients
- Others (e.g. Malt, etc.)
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Global Confectionery Ingredients Market: The key market players of confectionery ingredients are Kerry Group Plc, AarhusKarlshamn, Barry Callebaut, DuPont, Ingredion Incorporated, Concord Foods Inc., Olam International, Cargill Inc., Tate & Lyle PLC, Archer Daniels Midland Company, Koninklijke DSM N.V., etc. among the others.
Global Confectionery Ingredients Market: Key Developments
In 2018, Nestlé launched a new confectionery product named Milkybar Wowsomes, which contains 30% less sugar when compared with other chocolate bars. Milkybar Wowsomes contains only natural ingredients and has no artificial sweeteners.
In 2018, Ingredion Incorporated, one of the leading global provider of confectionery ingredients has opened a new sales office in Ho Chi Minh City, Vietnam. The company focuses on increasing its brand accessibility in Vietnam.