(Food-Beverage-News.Com, December 21, 2020 ) Growth of bakery & confectionery sectors to drive the market growth for sugar decorations & inclusions
The global sugar decorations & inclusions market size is projected to grow from USD 1.5 billion in 2020 to USD 2.1 billion by 2025, recording a compound annual growth rate (CAGR) of 6.3% during the forecast period. The increase in the consumption of bakery products and desserts and the increasing demand for flavored and textured food products across regions is projected to drive the demand for sugar decorations and inclusions. The rise in incomes across regions and the growth of economies are factors that have encouraged consumers to opt for appealing and textured products. In addition, the development of low-calorie and healthy sugar decorations and inclusions by key players in the sugar decorations & inclusions market are factors that are projected to provide growth opportunities for key players. However, the fluctuating prices of raw materials, such as sugar, starches, and food colorants,area major factor that is projected to hinder the growth of the market.
The jimmies segment is projected to dominate the market during the forecast period
Jimmies are the rainbow-colored clumps and toppings used on cakes and ice-creams. Jimmies are widely used in cake decorations. They are easily available in grocery stores and supermarkets in packaged bottles and jars and are available in mixed colors. Thus, this segment is projected to dominate the market during the forecast period.
The natural colorant segment is projected to grow at a higher growth rate during the forecast period
The increase in demand for clean-label products due to the rise in health awareness has led to an increase in the use of natural food colorants in sugar sprinkles. This is projected to drive the growth of this segment during the forecast period.
The home bakers segment is projected to record the highest growth rate during the forecast period
Since bakery products are one of the fastest-growing food industry segments, home bakers are witnessing increased demand for sugar inclusions to producebakery products at the convenience of home and using the flexibility of e-commerce channels to reach the maximum number of customers. Thus, the home bakers segment is projected to grow at the highest rate during the forecast period.
The North America region is projected to dominate the market during the forecast period
The North America region is projected to dominate the market during the forecast period due to the presence of a large number of bakeries and restaurants serving desserts. In addition, the increasing snacking trends are a few factors that are projected to drive the demand for sugar decorations and inclusions in the region. Countries, such as the US and Mexico, will majorly contribute to the growth of the sugar decorations & inclusions market in North America.
The sugar decorations & inclusions market comprises major players, such as Dr. Oetker (Germany), Kerrry Inc. (Ireland), Barry Callebaut (Switzerland), The Kraft Heinz Company (US), Pecan Deluxe Candy Company (US), Signature Brands LLC (US), Hanns G. Werner GmBH + Co.KG (Germany), Carroll Industries NZ Ltd. (New Zealand), Cape Foods (South Africa), and Paulaur Corporation (US). The study includes an in-depth competitive analysis of these players in the sugar decorations & inclusions market, with their company profiles, recent developments, and key market strategies.
Research Coverage The study covers the sugar decorations & inclusions market across segments. It aims at estimating the market size and its growth potential across different segments, such as application, type, enduser, colorant,and region. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help market leaders/new entrants with information on the closest approximations of revenue numbers for the overall sugar decorations & inclusions market and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.