The new report by Expert Market Research titled, ‘Global Fillings and Toppings Market Size, Share, Price, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the global fillings and toppings market, assessing the market based on its segments like functionalities, types, applications, flavours, raw materials, forms, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 3%
The global fillings and toppings industry is expected to be driven by the growing demand for baked food items, such as muffins, cakes, doughnuts, cupcakes, and pastries. The demand for fruit flavour fillings and toppings is higher in developed countries, such as the United States, due to increased health awareness among consumers. Fruit flavour provides a fresh taste with a bright colour, lush texture, and attractive appearance, thereby boosting the market growth. The factors which are influencing the growth of confectionery products are innovative products with distinct flavours, tastes, and colours and increased usage of natural ingredients in confections. Additionally, the changing food habits are expected to rise the demand for fillings and toppings are other important factors acting as fillings and toppings market growth determinants.
Industry Definition and Major Segments
Creams, fondants, chocolate, truffles, pralines, caramel, and other bakery products require fillings, which include creams, fondants, chocolate, truffles, pralines, and caramel. Pastries, doughnuts, layer cakes, eclairs, pies, turnovers, sandwich cookies, and other baked goods utilise these. Toppings enhance the appearance and flavour of a cake. Frosting, icing, and glaze are examples of toppings. Caramel (both sweet and salty) is a popular topping, especially in the United Kingdom.
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By functionality, the market is divided into:
- Flavor Enhancing
By type, the market is classified into:
- Syrups, Pastes and Variegates
- Fruits and Nuts
By application, the market is segmented into:
- Confectionery Products
- Bakery Products
- Dairy Products and Frozen Desserts
- Convenience Foods
By flavour, the market is divided into:
By raw material, the market is classified into:
- Natural Sweeteners
- Artificial Sweeteners
- Dairy Ingredients
By form, the market is classified into:
On the basis of region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The market is highly impacted by the increase in the size of confectionery and bakery industries, rise in disposable income, and urbanisation. Niche consumers developed technologies and global industrialisation are some of the major factors driving the market growth. The strategic pricing of various food items has attracted customers with unique selling ideas and have contributed massively to the confectionery and bakery industry, thereby boosting the market growth. Today, bakers and snack producers seek novel solutions to cater to changing consumer preferences and dietary regulations. For example, incorporating natural ingredients in fillings and toppings can increase fibre content and functional benefits to baked food items and snacks. Another factor driving the market is the expansion of mergers and acquisitions operations to obtain a competitive advantage over competitors in the specific industry.
Key Market Players
The major players in the market are Archer Daniels Midland Company, Barry Callebaut AG, AGRANA Beteiligungs-AG, Cargill, Incorporated, AAK AB, and Ashland Global Holdings Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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