Market Trends of Confectionery Ingredients Industry
This section covers the major market trends shaping the Confectionery Ingredients Market according to our research experts:
Rising Demand For Flavored Confectioneries
The demand for flavored confectioneries, such as chocolate, strawberry, orange, and others have witnessed a steady increase in its growth owing to its unique taste attracting the consumers, appealing packaging of products, along with marketing & promotional activities conducted by the key players to increase the outreach of their products among their targeted end-user segments. For instance, Ferrero, introduced a confectionery product-Kinder Joy, consisting of kinder toys within the chocolates and strategies such as blue chocolates and pink chocolates aimed at boys and girls respectively. In addition, the company also has conducted several marketing events. For instance, in 2016, the company initiated an innovative platform for storytelling, namely 'The Kinder Joy story station' to increase brand engagement. Such advertising and marketing strategies are bound to increase the demand for chocolate confectionery products over the forecast period. In addition, frequent launches of new products such as sugar-free chocolate and organic confectioneries in the confectionery market further boost market growth across the globe.
Asia Pacific To Be The Fastest-Growing Region In The Global Market
The Asia-Pacific region is projected to be the fastest-growing region in the global market of confectionery ingredients, owing to the rise in the demand for confectionery products, growing disposable income with increasing purchasing power, and the increasing number of regional players, especially in the countries such as India, and China. In addition, increasing the adoption of western culture and the rise in the awareness of the health benefits of consuming dark chocolates is projected to increase the market growth.
