(Food-Beverage-News.Com, July 05, 2017 ) The Asia-Pacific Confectionery Ingredients market has been estimated at USD 12.65 Billion in 2016 and is projected to reach USD 18.52 Billion by 2021, at a CAGR of 7.92% during the forecast period from 2016 to 2021. Confectionery products include food products like chocolates, jams, preserves, cakes and pastries and other dessert items. These are sold through a wide range of retail chain bases like super markets, grocery stores, mass merchandisers, and gourmet and specialized stores.
The market for Confectionery ingredients in Asia-Pacific region is mainly driven due to increasing demand for confectionery ingredients in diverse industries, along with other factors like rising disposable income and growing retail market. But, the market growth can be hampered due to factors like raising health awareness among consumers and the effect of snacks and drinks market on confectionary market.
Asia-Pacific market for Confectionery Ingredients is segmented based on type, form, source and application. By type, the market is further sub-segmented into Cocoa & chocolate, Dairy ingredients, Hydrocolloids, Emulsifiers, Malts, Oils & shortenings, Starches & derivatives, Sweeteners, Flavors, Others (food color additives & flavors, functional systems, fruits & vegetables). By form, the market is further sub-segmented into Dry and Liquid. By source, the market is further sub-segmented into Synthetic and Natural. By application, the market is further sub-segmented into Chocolate, Sugar confectionery, Gum, Others (fillings, coatings, caramel, aerated confectionery, spreads, and cereal bars). Cocoa & chocolate is the most widely used type of confectionery ingredients. Sugar confectionery application of the confectionery ingredients market is growing at the highest CAGR.
Geographically, Asia-Pacific market for Confectionery Ingredients is segmented China, India, Japan, South Korea and Australia. Asia-Pacific region is the fastest growing market in global confectionery ingredients market, in terms of market share, with highest CAGR. Increasing urbanization and rising disposal income of consumers, along with advancement in developing countries are anticipated to impact the growth of the confectionary market in this region.
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 Asia-Pacific Confectionery Ingredients market.
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