Confectionery Fillings Market size is expected to surpass USD 150 billion in value by 2030, as per a new research report published by Global Market Insights Inc.
The penetration of e-commerce in the food sector will be a key factor driving the sales of confectionery products. According to the U.S. Department of Commerce, in Q4 2020, the total e-commerce sales had jumped by 32.1% to more than USD 206 billion. Advancements in online shopping platforms will help accelerate the buying and selling of confectionary products like cakes and chocolates in emerging economies. Trends such as corporate gifting, community gatherings and other public activities that warrant the consumption of confectionery products could influence the industry development.
Business-to-Consumer (B2C) companies like Walmart and Amazon are connecting confectionery businesses with a larger audience through their online platforms. Features like faster product delivery, online payment options, and discounts will encourage consumers to purchase confectionary products through e-commerce platforms in the years to come. Rising disposable incomes in developing countries and subsequent higher consumption of premium chocolate & other products will expand confectionery fillings demand.
Busy consumer lifestyle to boost demand for bakery confectioneries
The confectionery fillings market share from the bakery confectionary segment is projected to exceed USD 100 billion by 2030. The report estimates a heavy demand for bakery items across Asian countries, with the production of healthy confectioneries and related products. Increasingly busy lifestyles and hectic work schedules will fuel the demand for bread-based snacks and other ready-to-eat products among the working population. Consistent rise in the awareness about online platforms for product delivery will create new opportunities for bakery product manufacturers.
Growing preference for natural fruit fillings in confectionery products
As per the study, the confectionery fillings market share from fruit fillings segment is estimated to witness a CAGR of more than 3% between 2022-2030. Fruit fillings are commonly used in donuts, cakes, and pastries as they provide appropriate stability and fruit integrity to confectionery products. Growing awareness of synthetic fillings and chemical ingredients has shifted consumer inclination towards natural products. Fresh fruits in bread and other baked products are also associated with several health benefits. These fillings are seen as potential ways to improve sensorial characteristics such as texture, color, and flavor.
Browse key industry insights spread across 210 pages with 269 market data tables & 22 figures & charts from the report, “Confectionery Fillings Market Size, By Confectionery (Bakery Confectionery, Sugar Confectionery, Chocolate Confectionery), By Filling (Fruit Fillings, Non-Fruit Fillings, Nut-Based Fillings), By Form (Solid, Liquid, Semi-Liquid), By Distribution channel (Wholesale/Distributor, Confectionery Store/Retailer, Hypermarket/Supermarket, E-commerce) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022–2030” in detail along with the table of contents:
High consumption of comfort food augments North America industry development
North America confectionery fillings market size is anticipated to be over USD 40 billion by 2030. Countries such as the U.S., and Canada have an enormous consumer base that snack multiple times throughout the day. According to the 2022 Food & Health Survey conducted by the International Food Information Council (IFIC), nearly 75% of the American population is said to snack at least once a day, showcasing a 15% rise from 2021 estimates.
The region is home to a large number of confectionary brands that are involved in extensive research and development for the development of new flavored chocolates and candies. In recent years, countries across North America have also reported a substantial rise in the import of confectionery raw materials. As per the USDA, the U.S. imported shipments of chocolate and other cocoa-based food products worth USD 2.8 billion between 2017-2021.
New product development initiatives to foster confectionery fillings industry expansion
Some of the major companies in confectionery fillings market discussed in the report include ADM, Barry Callebaut, CQC, Zealandia, AAK AB, Parker Products, Prosto Petro Group, Cargill Inc., Belgostar, Zentis GmbH & Co. KG, The Emsland Group., CMS Ontario Ltd., Olenex Sàrl, Bakels and Bunge Loders Croklaan. The competitive market demonstrates substantial efforts including expansion initiatives and continuous product launches to consolidate industry lead.
For instance, in January 2022, Parker Food Group, a leading provider of specialty ingredients, announced the acquisition of a former 20-acre Rise Baking manufacturing facility in Mexico, Missouri. The new unit will contain 5 manufacturing lines along with additional capacity to support a wide range of specialty food ingredients used in bakery, confectionery, ice cream, and packaged goods.