ID: MRFR/F-B & N/9131-CR | May 2022 | Region: Global | 90 pages
The confectionery fillings market is projected to register a CAGR of 5.58% and reach a value of USD 2,605.60 million by 2028. Confectionery fillings are key ingredients in many bakery products such as creams, fondants, chocolates, truffles, pralines, and caramels. Confectionery fillings are available as fruit fillings, non-fruit fillings, and nut fillings which can be used in cookies, cakes, muffins, and chocolates, among others. These fillers act as a flavor and texture enhancer in different confectionery items. Confectionery fillings are sold in different forms such as liquid, semi-liquid or solid form depending on the processing method of the final product. The viscosity of fillings is controlled by the texturizing agents and dry substances in the products. Some of the significant reasons for the growth of the global confectionery fillings market are the surging demand for natural and healthy food ingredients and the increasing applications of confectionery fillings in several industries. Moreover, the introduction of new and exotic flavors is expected to be a prime opportunity are for market players. However, regional availability of fruits and stringent food safety regulations are expected to hamper the growth of the global confectionery fillings market during the years to come
The rapid proliferation of the COVID-19 pandemic has resulted in a global crisis. Impacting over 195 countries, the pandemic has already created an economic downfall worldwide. The global pandemic is deemed to create a chaotic environment, resulting in a global recession. With the rapidly increasing number of cases, the global confectionery fillings market is getting affected in many ways.
The production of confectionery fillings starts with the procurement of raw materials such as chocolate, fruits, nuts, syrups, and many other ingredients. Among these raw materials, some are produced by suppliers and distributors. As the world is under lockdown, sourcing raw materials is difficult because of the urgent measures to control the spread of the coronavirus, such as physical distancing and limitation on transportation. The availability of labor is also a crucial factor, and the overall confectionery fillings manufacturing is facing a shortage of adequate laborers. Manpower is required to source the raw material, process it into the final product until the packaging, and transport it to the consumers. The migration of laborers to hometowns due to lack of availability of work is one of the major issues that every country is facing during the pandemic.
The confectionery fillings market has witnessed a significant growth rate over the last few years and is projected to register a 5.58% CAGR during the forecast period. The growth of bakery industry is the major factor driving the market growth. Also, increasing focus on visual appeal of food items is boosting the sales of confectionery fillings in the food industry. Moreover, rising demand for premium and healthy ingredients in the application areas is creating profitable opportunities for the manufacturers. However, rising incidence of obesity and health concerns are restraining the growth of the confectionery fillings market.
The average per capita disposable income is growing across the globe, and the extra spending capacity has enabled consumers to experiment with food preferences. In the bakery and confectionery industry, the main factor driving the market growth is the visual appearance of the product and the variety, and both of these characteristics are attained through the range of confectionery fillings available in the market. Bakery and confectionery manufacturers use confectionery filling for their products. Consumers are more inclined towards aesthetics, variety, and interesting flavors in the products. Suppliers of confectionery fillings also emphasize product innovation and expansion to meet consumer demands. Demand for visually appealing products such as fillings and toppings is expected to drive the growth of the global confectionery fillings market during the review period.
The consumption of confectionery filling has been increasing at a high pace over the last few years. However, the rising obesity among consumers is one of the major restraints in the market. The food industry is witnessing challenges due to rising health concerns related to overconsumption of calories, fat, and sugar. Rising health awareness has resulted in consumers’ inclination towards adopting a healthy lifestyle and healthy food consumption patterns. As per the Centre for Disease Control and Prevention, about 43.64% of adults in the age gap of 20 years and above suffered from obesity during 2019-20 in the US. Obesity is linked to increased cardiovascular diseases of consumers. The fact sheet also showed that about 610,000 people die of heart disease in the US every year, accounting for one in every four deaths. The rising obesity has led to the consumers becoming more health-conscious, which is anticipated to reduce the consumption of confectionery products during the forecast period hampering the growth of the confectionery fillings market. Also, the rising diabetic population across several countries is anticipated to restrict the global confectionery fillings market. According to American Diabetes Association, more than 10.50% of the American population had diabetes in 2018. Thus, the rising obesity and diabetes among consumers is expected to create an obstacle in the growth of the market during the forecast period.
Market players are constantly introducing premium chocolate and bakery products because of rising consumer inclination towards superior quality and healthy ingredients. Due to the increasing awareness regarding the negative impact chemicals can have on human health, consumers increasingly prefer organically cultivated and processed products. Thus, the global demand for organically produced products is growing rapidly. Along with North America and Europe, the adoption of organic food products is increasing in Asia-Pacific and the Middle East & Africa. This has resulted in the growing demand for organic confectionery fillings. Moreover, the growing vegan population has also boosted the demand for vegan confectionery fillings. Such healthy trends and innovative confectionery fillings have created an opportunistic market for the key players operating in the confectionery fillings market.
By Product Type
Based on product type, the global confectionery fillings market has been segregated into fruit fillings, non-fruit fillings, and nut-based fillings. The non-fruit fillings segment accounted for the largest market share in 2020, whereas the fruit fillings segment is expected to record the highest CAGR of 5.69% during the forecast period.
In terms of the form, the global confectionery fillings market has been divided into liquid, semi-liquid, and solid. The semi-liquid segment accounted for the largest market share in 2020, whereas solid segment is projected to exhibit a higher CAGR of 5.55% during the forecast period.
Based on category, the global confectionery fillings market has been segmented into water-based, fat-based, and cocoa-based. In terms of value, the fat-based segment accounted for the largest market share in 2020 and is projected to register a decent CAGR of 5.61% during the forecast period. However, the water-based segment is expected to register the highest CAGR of 5.79% during the forecast period.
In terms of application, the global confectionery fillings market has been divided into chocolate, bakery, gummies, and others. The bakery segment accounted for a larger market share of 50.11% in 2020 and is expected to register a CAGR of 5.48% during the forecast period.
Confectionery Fillings Market Share, by Region, 2020 (%)
Sources: MRFR Analysis
By region, the global confectionery fillings market has been divided into North America, Europe, Asia-Pacific, South America and the Middle East & AFrica. Europe accounted for the largest market share of 34.62% in 2020. North America was the second-largest market in 2020 and is projected to exhibit a CAGR of 5.75% during the review period. The market in the Asia-Pacifc is expected to register the highest CAGR of 6.16% during the forecast period.
Europe accounted for the largest market share of 34.62% of the confectionery fillings market in 2020. The regional market is expected to register a CAGR of 5.27% during the forecast period. Europe is the world's largest manufacturer of chocolate. The region houses confectionery production plants of multinational companies such as Nestle S.A., Mondelez International, Inc., Mars, Incorporated, Lindt & Sprüngli AG, and Ferrero SA. The large confectionery companies majorly drive the consumption of confectionery fillings in the European region. The rise in popularity of organic and specialty fruit fillings among Europeans is projected to fuel the demand of the European market during the forecast period. Moreover, innovation in new flavors and blends of filling is expected to create huge opportunities for the manufacturers operating in the confectionery fillings market in the European region.
North America accounted for 25.02% of the global confectionery fillings market in 2020 and is projected to expand at a 5.75% CAGR during the forecast period. North America is a significant market for confectionery fillings suppliers owing to the high consumption of chocolates and the presence of large confectionery manufacturers in the region. Growing demand for premium and seasonal chocolates is driving the demand for confectionery fillings in the region. The increasing consumer inclination towards dark chocolate and dark chocolate-filled products owing to the rising health consciousness among consumers is likely to boost the demand for dark chocolate filling. Moreover, the US chocolate market is dominated by key chocolate manufacturers such as Hershey's, Lindt, Mars, and Nestle, which hold the majority of the market share. These players continuously innovate and adjust their product offerings according to market demand which is likely to drive the regional market growth during the forecast period.
The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have a global reach and diverse product portfolios. Companies such as AAK (Sweden), Barry Callebaut (Switzerland), Cargill Inc. (US), DUPONT DE NEMOURS, INC. (US), and The Archer-Daniels-Midland Company (US) dominate the global market due to brand reputation, product differentiation, financial stability, and diversified regional presence.
Prominent players in the global confectionery fillings market include AAK (Sweden), Barry Callebaut (Switzerland), Cargill Inc. (US), Dupont De Nemours, Inc. (US), The Archer-Daniels-Midland Company (US), Belgo Star (Russian Federation), Sirmulis (Lithuania), Zentis (Germany), Clasen Quality Coatings Inc. (US), and Parker Products (US).
Few developments that occurred in recent times influencing the market growth of confectionery fillings are listed below:
Confectionery fillings Market, by Product Type
Confectionery fillings Market, by Form
Confectionery fillings Market, by Category
Confectionery fillings Market, by Application
Confectionery fillings Market, by Region