(Entertainment-NewsWire.com, June 19, 2017 ) The North America Confectionery Ingredients market has been estimated at USD 15.53 Billion in 2016 and is projected to reach USD 20.3 Billion by 2021, at a CAGR of 5.51% during the forecast period from 2016 to 2021. Confectionery items include products such as chocolate and non-chocolate candy, and other sweet products such as desserts, jams, jellies, and preserves. They are sold through supermarkets, grocery stores, mass merchandisers and gourmet/specialty stores.
The market for Confectionery ingredients in North America is mainly driven due to rising disposable income, growing retail market, increasing trend of gifting confectionery items, and increasing urbanization and hectic lifestyles. But, the market growth can be constrained due to Substitution for other snacks, and negative health perceptions.
North America market for Confectionery Ingredients is segmented based on type, form, source and application. By type, the market is further sub-segmented into Cocoa & chocolate, Dairy ingredients, Hydrocolloids, Emulsifiers, Malts, Oils & shortenings, Starches & derivatives, Sweeteners, Flavors, Others (food color additives & flavors, functional systems, fruits & vegetables). By form, the market is further sub-segmented into Dry and Liquid. By source, the market is further sub-segmented into Synthetic and Natural. By application, the market is further sub-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.
Geographically, North America market for Confectionery Ingredients is segmented U.S. and Canada. North America is the second largest contributor to global confectionery ingredients market, in terms of market share. Due to high R&D programs, and advancements in food technology, many companies are interested to expand their market base in this region.
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, are the major players of North America Confectionery Ingredients market.
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