(Food-Beverage-News.Com, December 08, 2020 ) 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. Sugar decorations and inclusions are the key ingredients that attract customers toward various desserts and bakery products, due to which they are projected to witness significant growth in the global food industry. The increasing demand for textured and decorated baked foods and the growth of bakery and confectionery sectors across regions are some of the major factors that are projected to drive the growth of the sugar decorations & inclusions market. In addition, the increasing demand for bakery products in various economies across regions is a key factor that is projected to drive the market growth.
Some of the major players present in the sugar decorations & inclusions market include Dr. Oetker (Germany), Kerry Inc. (Ireland), Barry Callebaut (Switzerland), The Kraft Heinz Company (US), Pecan Deluxe Candy Company (US), and Signature Brands LLC (US). New product launches and expansions are some of the dominant strategies that are adopted by major players to strengthen their presence in the sugar decorations & inclusions market. These strategies have helped companies to expand their product offerings for sugar decorations and inclusions and are projected to drive the market growth.
The jimmies segment is projected to account for the largest share in the sugar decorations & inclusions market, followed by the caramel inclusions segment during the forecast period.
Jimmies are rainbow-colored chunks used as toppings for cake decorations and ice-cream decorations. They are readily available in supermarkets and hypermarkets. Jimmies are available in mixed and variety of colors. It is mainly used in bakery and confectionery products, which are projected to drive its demand in the foodservice industry. Food manufacturers are developing jimmies of different colors and textures. These trends are projected to favor the growth of jimmies in the sugar decorations & inclusions market.
The artificial segment is projected to account for a larger share in the sugar decorations & inclusions market during the forecast period.
The artificial segment is projected to dominate the market during the forecast period due to its bright colors, which are appealing for customers. They are also inexpensive and are used by companies to enhance a product’s aesthetic value. However, the substitution by natural colorants may hinder the growth of the segment in the upcoming years as consumers are becoming increasingly health-conscious.
The Asia Pacific region is projected to be the fastest-growing market for sugar decorations & inclusions during the forecast period.
The Asia Pacific region is projected to be the fastest-growing market for sugar decorations & inclusions during the forecast period. The region is projected to witness a high demand for sugar sprinkles due to the increasing consumption of bakery products by individuals with high disposable income in the middle-class population across the region. Furthermore, busier lifestyles have led to a surge in demand for convenience food products. These factors are projected to create growth opportunities for sugar decorations & inclusions companies in countries, such as India, China, Japan, and Australia. Emerging economies such as China and India are projected to significantly contribute to the market growth.