Global Confectionary Ingredients Market: Widespread Usage of Chocolate Ingredients to Fuel Demand
Albany, NY -- (SBWIRE) -- 12/07/2018 -- In the forecast period beginning from 2017 and ending in 2025, the global market for confectionery ingredients is predicted to rise at a steady CAGR of 4.2%. The market, which was worth US$76.25 bn in 2016, will likely clock a value of US$109.5 bn by the close of the forecast period in 2025-end.
Consumer awareness regarding the health benefits of consuming chocolate is fueling the demand for confectionery ingredients. Cocoa and other dairy ingredients added to chocolate are reported to have beneficial health related qualities. The cocoa content offers relief from illnesses such as high blood pressure, cholesterol, and other neurodegenerative diseases. Furthermore, the demand for confectionery products is increasing due to the changing demand of consumers and the influence of the western culture in terms of feeding habits in the developing economies.
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Confectionery items have become a necessary food item in recent times. The consumer's lifestyle along with their demand changes with time and in order to meet their requirements, manufacturers of confectionery products including bakery are exploring with ingredients which is also backed by huge investments in research and development. However, confectionery manufacturers need to abide by various regulations and conditions while procuring ingredients and processing them into end products.
Rising Awareness of Dark Chocolate Augurs Well for Market
With globalization and unprecedented proliferation of the media, the benefits of dark chocolate is known worldwide. Elaborates the lead analyst of the TMR report, "Dark chocolate is comprised of flavonoids and different other compounds that have potent antioxidant properties which help in protecting against cardiovascular and circulatory diseases." This has resulted in the soaring demand of dark chocolate in various confectionery products and with globalization and better trade and commerce channels their sales have managed to increase in tandem. This, in turn has benefitted the global market for confectionery ingredients.
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Adoption of Western Food Habits Pushes up Demand
In addition to that, the increasing uptake of western food habits, particularly in the emerging economies of Asia Pacific and the Middle East, has also led to rising demand for confectionary ingredients. This is because of the widespread popularity of bakery products such as cakes, biscuits, buns, and pastry, among others, which has led to the soaring usage of confectionary products. The increasing disposable incomes of the people has led them to buy more of such products instead of cooking traditional snacks at home.