According to the report “Confectionery Ingredients Market” published by Market Data Forecast, the global market is projected to reach USD 78.04 Billion by 2021 at a CAGR of 6.3% from 2016 to 2021.
Confectionery is a broad category of food products which includes everything from chocolate snacks, desserts, jams, preserves, candies to cakes and pastries. They are sold through several retail chains like supermarkets, hypermarkets, gourmet stores and grocery stores.
The market for confectionery ingredients is mainly driven due to increasing demand for confectionery ingredients in diverse industries including chocolate, sugar confectionery, gums, and other industries, along with increasing demand for natural ingredients due to increasing consumer awareness. Since the busy lifestyle of people is making them resort to ready-to-eat products, the market is providing a wide range of opportunities.
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Global market for Confectionery ingredients is segmented based on Type, Form, Source and Applications into further sub-segments as follows:
-Cocoa & chocolate
-Oils & shortenings
-Starches & derivatives
-Other ingredient type
•Food color additives & flavors
•Fruits & vegetables
-Other confectionery ingredient applications
5)Geographically, the market for Confectionery ingredients market is segmented as below:
•Middle-East and Africa
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Barry Callebaut, Olam International , Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, and E. I. du Pont de Nemours and Company, Koninklijke DSM N.V., Kerry Group plc , Arla Foods, Tate & Lyle PLC, are the major players of Global Confectionery Ingredients market.
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