(Entertainment-NewsWire.com, March 13, 2018 ) The report "Confectionery Ingredients Market by type (Cocoa & chocolate, Dairy ingredients, Hydrocolloids, Emulsifiers, Malts, Oils & shortenings, Starches & derivatives, Sweeteners, Flavors, Others), by form (dry, liquid), by source (Synthetic, Natural), by applications (Chocolate, Sugar confectionery, Gum, Others)- Forecast to 2022", The Confectionery Ingredients market is expected to reach USD 78.04 Billion by 2022 from an estimated USD 57.5 Billion in 2017, at a CAGR of 6.3%. The key factors such as changing lifestyles of consumers, rising health awareness about the benefits of chocolate and rapid industrialization are the driving forces of the market.
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By type, the cocoa and chocolate segment accounted for the largest share of the market in 2017
On the basis of type, the market is segmented into Cocoa & chocolate, Dairy ingredients, Hydrocolloids, Emulsifiers, Malts, Oils & shortenings, Starches & derivatives, Sweeteners, Flavors, Others (food color additives & flavors, functional systems, fruits & vegetables). In 2017, the cocoa and chocolate segment is expected to account for the largest share of the global Confectionery Ingredients market. The sweeteners segment, on the other hand, is expected to be the fastest-growing segment during the forecast period. Growth in this segment is mainly driven by the increase in their use for a variety of purposes.
On the basis of form, the market is segmented into Dry and Liquid. By source, the market is segmented into Synthetic and Natural. The synthetic segment accounts for the major market share whereas the natural segment is expected to grow at the highest CAGR.
By application, the chocolate segment accounted for the largest share of the market in 2017
On the basis of application, the market is 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.
Europe dominated the market in 2017
Europe accounted for the largest share of the Confectionery Ingredients market in 2017, followed by North America. The large share of the European Confectionery Ingredients market can be attributed to the fact that Europe has become the largest market because of rising health consciousness of consumers in the US which led to its downfall as the largest market.
The various players in the Confectionery Ingredients market include 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,
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