Market Outlook for Confectionery Coatings Market:
A confectionery coating is an ingredient product which is made to simulate chocolate in appearance but is not true chocolate as it contains no cocoa butter, which is present in chocolate. A confectionery coating serves many functions in the confectionery product such as a flavoring agent, glazing/polishing agent, color enhancer and lately also as a fortifying agent. Currently, the fortification function of confectionery coatings is leading innovation and growth in the market. Another functional facet of the confectionery coating which is driving the demand in the market is flavor. As chocolate flavor is now inducing a ‘boring’ effect in the confection market, availability of flavor varieties is a key driving factor for the growth of the confectionery coatings market. Manufacturers in the confectionery coating market are also offering new flavor varieties as a specialty offering, as specialty tags are enabling marketers to add up the value of the confection products.
Health-consciousness trends governing the dynamics of the confectionery coatings market
Lately, there has been a marked increase in the launch of confectionery coatings containing healthy and label-friendly ingredients. In fact, developers are using confectionery coatings as a route to boosting consumption of healthy ingredients. These developments are effectuated by the health conscious trends in the food industry, as consumers are increasingly cutting down the consumption of confection products due to health risks. Hence to curb this situation which is threatening the growth of confectionery coatings market, manufacturers are compelled to reduce saturated fats, artificial sweeteners and other chemically active ingredients included in confectionery coatings. Confectionery coatings to target vegan consumers have also been launched in the market. Furthermore, key participants in the confectionery coatings market are emphasizing on promotional activities of products through social media and marketing campaigns. Additionally, visually appealing designs and colors in confectionery coatings are also supplementing the market growth. At a macroeconomic level, the increase in the price of raw materials of chocolate and confectionery products is disrupting the growth of the confectionery coatings market.
Global Confectionery Coatings Market: Segmentation:
The confectionery coatings market is segmented on the basis of flavor, product type, nature and form.
On the basis of flavor, the confectionery coatings market is segmented into-
On the basis of form, the confectionery coatings market is segmented into-
On the basis of product type, the confectionery coatings market is segmented into-
On the basis of nature, the confectionery coatings market is segmented into-
Global Confectionery Coatings Market: Examples of some of the market participants in the global confectionery coatings market identified across the value chain include Capol LLC, Cargill, Incorporated, Rascal Confectionery Ltd., The Warrell Corporation, Barry Callebaut AG, Mantrose-Haeuser Co., Inc., Thew Arnott & Co Ltd, Sweetdreams Limited, Norevo GmbH, Clasen Quality Coatings, Inc., Soyuzsnab, Group of Companies, Alvas Group and Bunge Loders Croklaan amongst others.
Global Confectionery Coatings Market: Key Developments
In 2017, the company Cargill Inc., manufacturer of agri-based ingredients launched a range of clean label coatings and fillings for confection products.
In 2016, the company Thew Arnott & Co Ltd, manufacturer of confectionery ingredients launched a new confectionery coating- zein-based food glazing ingredient, specially targeted at the vegan demo graph.
In 2016, Capoll LLC, a manufacturer of confectionery coatings, developed a new line of confectionery coatings in an organic format. The line includes gum acacia-based confectionery coatings and polishes and sunflower-oil based anti-sticking agents.
Opportunities for Confectionery Coatings Market Participants:
With the rise in prices of the raw materials required for the confectionery coatings market, there is a risk of losing the current consumer base, as they may resort to cheaper alternatives. Manufacturers can instead pass down this increase to the consumers. This can be strategically achieved by marketing the confectionery products as premium and value added. This will ensure that high-end consumers remain loyal contributors to the growth of the confectionery coatings market.
The report covers exhaust analysis on:
Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from confectionery coatings industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments of confectionery coatings. The report also maps the qualitative impact of various market factors on market segments and geographies.