Confectionery Fillings Market Forecast
The global confectionery fillings market is projected to be valued at USD 2.24billion by 2028 at a CAGR of 4.12% between 2021 and 2028.Confectionery fillings are the products used in sweets. Confectionery fillings are used in various bakery products, including donuts, cakes, pastries, and cookies.
Confectionery fillings are classified into three forms which consist of liquid, semi-solid and solid. Europe accounted for the largest market share of the global confectionery fillings market during the forecast period. Increasing demand for confectionery fillings in breakfast bread and donuts is expected to propel the growth of the confectionery fillings market.
Innovative flavors and tempting textures of bakery goods further witness the rise in the sales of confectionery fillings among consumers. Confectionery fillings find applications in various bakery products, including nougats, donuts, and truffles; this is further expected to positively impact the sales of confectionery fillings among consumers.
The high amount of fat and calories and a low amount of nutrients of the confectionery fillings may hamper the growth of the global confectionery fillings market during the forecast period. Rising obesity among consumers is one of the restraining factors for the global confectionery fillings market.
Also, the rising diabetic population across several countries is anticipated to restrict the market growth of the global confectionery fillings market during the forecast period. According to the American Diabetes Association, more than 10.50% of the American population has diabetes in 2018. Thus the rising obesity and diabetes among the consumers are expected to create an obstacle in the growth of the market during the forecast period.
Moreover, increasing health consciousness among consumers has led to an upsurge in demand for confectionery fillings. According to World Health Organization, in 2016, more than 1.9 billion adults, 18 years and older, are overweight; out of these, 650 million are obese. Over 340 million children and adolescents aged between 5 to 19 were overweight or obese in 2016.
Rising obesity and diabetes patients in the world are hindering the growth of the global confectionery fillings market during the forecast period.
Confectionery fillings provide longer shelf life to the products to maintain the flavors of the products. Confectionery fillings manufacturers are using advanced technology to develop the products to increase the customer base with an aim to become the leader in the global confectionery fillings market during the forecast period.
Increasing demand for processed food in developing countries.
Growth Opportunities in the Market
Innovation in New Flavors and Blends of Fillings:The consumption of confectionery is increasing rapidly over the last few years. Confectionery products come under two categories sugar-based and sugar-free. The growth of the global confectionery fillings market is driven by several factors. Flavorings enhance and add the taste of the base products, be it cake, cookies, sauces, yeast, doughs, pastries, and candies.
Confectionery manufacturers are focusing on expanding their product portfolio and adding new flavors and blends to increase the customer base and aim to become the global leader of the confectionery fillings market during the forecast period. Significant manufacturers of confectionery fillings are adopting digital channels and engaging in aggressive marketing and promotion strategies to increase confectionery fillings among consumers.
Consumers are increasingly adopting a healthy lifestyle, further fueling the demand of confectionery fillings among the consumers.These numerous health benefits provided by confectionery fillings are expected to create growth opportunities for the market for the forecast period.
Rise in Popularity of Organic and Specialty Fruit Fillings:Confectionery fillings have seen several product variations in the past few years. There are various advantages of the consumption of organic food in confectionery fillings. Organic fruit fillings are popular among consumers and are widely accepted by consumers as organic fruit fillings are good in taste and free from chemical residue.
There are various health benefits associated with organic food. Organic food items are produced, prepared, and processed without the use of any chemicals.
Consequently, organic food is increasingly gaining popularity among consumers because a greater population is shifting towards healthy food.Several companies are expanding their consumer appeal by focusing on organic source ingredients. The demand for natural ingredients is surging among the consumers owing to the increase in the health-conscious population.
Manufacturers are inclined towards organic and speciality fruit filling to increase the customer base and become the global confectionery fillings market leader. These numerous benefits provided by confectionery fillings help in boosting the market growth for the forecast period. A rise in popularity of organic and specialty fruit fillings is expected to create profitable growth opportunities for the manufacturers of the confectionery fillings market during the forecast period.
- AAK (Sweden)
- Barry Callebaut (Switzerland)
- Cargill, Incorporated (US)
- Danisco A/S (Denmark)
- ADM (US)
- Belgo Star (Russia)
- Širmulis (Lithuania)
- Zentis (Germany)
- Clasen Quality Coatings Inc. (US)
- Parker Products (US).