Market Forecast:
Innovative flavors and tempting textures of bakery goods further witness the rise in the sales of confectionery fillings among consumers. Confectionery fillings find applications in various bakery products, including nougats, donuts, and truffles; this is further expected to positively impact the sales of confectionery fillings among consumers.
The confectionery fillings market is projected to be valued at USD 2.24 billion by 2028 at a CAGR of 4.12% between 2021 and 2028. Confectionery fillings are the products used in sweets. Confectionery fillings are used in various bakery products, including donuts, cakes, pastries, and cookies.
The high amount of fat and calories and a low amount of nutrients of the confectionery fillings may hamper the growth of the global confectionery fillings market during the forecast period. Rising obesity among consumers is one of the restraining factors for the global confectionery fillings market. Also, the rising diabetic population across several countries is anticipated to restrict the market growth of the global confectionery fillings market during the forecast period. According to the American Diabetes Association, more than 10.50% of the American population has diabetes in 2018. Thus, the rising obesity and diabetes among consumers are expected to create an obstacle in the growth of the market during the forecast period.
Growth Opportunities in the Market
Rise in Popularity of Organic and Specialty Fruit Fillings: Confectionery fillings have seen several product variations in the past few years. There are various advantages of the consumption of organic food in confectionery fillings. Organic fruit fillings are popular among consumers and are widely accepted by consumers as organic fruit fillings are good in taste and free from chemical residue. There are various health benefits associated with organic food. Organic food items are produced, prepared, and processed without the use of any chemicals.
Consequently, organic food is increasingly gaining popularity among consumers because a greater population is shifting towards healthy food. Several companies are expanding their consumer appeal by focusing on organic source ingredients. The demand for natural ingredients is surging among the consumers owing to the increase in the health-conscious population.
Manufacturers are inclined towards organic and specialty fruit filling to increase the customer base and become the global confectionery fillings, market leader. These numerous benefits provided by confectionery fillings help in boosting the market growth for the forecast period. A rise in popularity of organic and specialty fruit fillings is expected to create profitable growth opportunities for the manufacturers of the confectionery fillings market during the forecast period.
Key Players
- AAK (Sweden)
- Barry Callebaut (Switzerland)
- Cargill, Incorporated (US)
- Danisco A/S (Denmark)
- ADM (US)
- Belgo Star (Russia)
- Širmulis (Lithuania)
- Zentis (Germany)
- Clasen Quality Coatings Inc. (US)
- Parker Products (US).
