(Entertainment-NewsWire.com, April 24, 2018 ) The global confectionery fillings market is expected to grow at an estimated CAGR of 5.7% during the forecast period (2018-2023).
IOI Loders Croklaan had recently presented its new non-hydrogenated low saturated fat ingredient for confectionery fillings, commonly called as Creamelt 600 LS, at FI Europe 2017. The company claims the new chocolate filling fat will reduce the saturated fatty acid (SAFA) by 30% without affecting the flavor and texture.
Market Dynamics Consumers with hectic schedules tend to be more inclined toward confectionery-filled items, as they are tasty and consume less time to prepare. These items are sold as ‘on-the-go’ snacks to appeal to busy consumers. Additionally, with the increasing number of working women in developing countries and the growing urbanization in the region, there is immense interest in confectionery fillings. There is a great interest among consumers for confectionery fillings in the ‘on-the-go’ breakfast industry. Pop-tarts, by Kellogg’s, is a perfect example of a breakfast item, whose popularity mainly relies on the variety and range of confectionery fillings used. The major restraint for the confectionery fillings market is a large amount of fat & calories and low amounts of nutrients present in the fillings. This is due to the rising concern for health and nutrition among consumers, owing to the increasing incidence of diseases, such as obesity and diabetes. However, the opportunity for confectionery fillings can be seen in the form of natural fruit and sugar-free confectionery fillings, which offer natural sweetness, along with many nutritional benefits. Moreover, innovation in flavors and blends, as well as the rise in popularity of organic and specialty fillings, such as beer-infused confectionery fillings and specialty fruit confectionery fillings, are further creating opportunities for the market.
Market Segmentation The global confectionery market is segmented by type into fruit fillings, non-fruit fillings, and nut-based fillings. Fruit filling is further segmented into pineapple, cherry, strawberry, apple, apricot, and others. Traditional flavors, such as cherry, apple, and pineapple, are popular due to their use in ready-to-eat pies and off the counter baked goods. Regarding non-fruit fillings, chocolate has the highest market share, with many breakfast cereals using chocolate filling in their products due to the popularity of chocolate flavors among consumers. In the baking industry, in addition to chocolate, caramel, vanilla, and egg liqueur are popular fillings. The nut-based fillings include nougat, hazelnut, peanut, and others.
Regional Analysis Nut-based confectionery fillings are most popular in North America, with many candy and confections incorporated with nuts, which are popular with consumers in the region. Europe dominates the global confectionery fillings market, followed by North America and Asia-Pacific. By country, the United States represents the largest confectionery filling market, globally, followed by China and the United Kingdom. India is a key market in Asia-Pacific and the fastest-growing confectionery filling market, worldwide. Countries in Asia-Pacific, such as China and Japan, are known for experimenting with vegetable flavors in their confections, hence, niche flavors, such as endamame and peas, are showing promising growth in the region.
MAJOR PLAYERS: TOJE, DOMSON, BARRY CALLEBAUT, SIRMULIS, BELGO STAR, CLASEN QUALITY COATING, AAK, ALSINO, ZENTIS, ADM, DANISCO and ZEELANDIA, CARGILL, amongst others.
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