Overview and Scope
Sugar toppings refer to carbohydrates used in food to induce sweetness. These
are made of finely crushed and grained sugar in the form of a powder that is
used for garnishes. It is constantly enhanced with various components,
including seasoning, butter, cream cheese, and egg whites, and utilized in a
variety of cakes, chewing gum, sugar confectionery, and chocolates.
Sizing and Forecast
The sugar toppings market size has grown strongly in recent years. It will grow
from $15.44 billion in 2023 to $16.84 billion in 2024 at a compound annual
growth rate (CAGR) of 9.1%. The growth in the historic period can be
attributed to increased bakery and confectionery industry, consumer preference
for sweet flavors, innovations in food decoration, convenience and ready-to-use
products, retail and foodservice expansion.
The sugar toppings market size is expected to see strongly grown in the next
few years. It will grow to $23.06 billion in 2028 at a compound annual growth
rate (CAGR) of 8.2%. The growth in the
forecast period can be attributed to health-conscious consumer choices, clean
label and natural ingredients, global culinary diversity, e-commerce and online
platforms, functional ingredients and nutritional enhancement. Major trends in
the forecast period include flavor innovation and variety, clean label and
natural ingredients, health-conscious alternatives, texture and format
innovation, packaging innovations for convenience.
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Segmentation & Regional Insights
The sugar toppings market covered in this report is segmented –
1) By Type: Dry, Wet
2) By Nature: Organic, Conventional
3) By Application: Bakery, Confectionery, Dairy, Ready-To-Eat Snacks,
Convenience Food, Packaged Food
4) By Sales Channel: Retail, Groceries, Industrial, Food Services
Europe was the largest region in the sugar toppings market in 2023. The regions
covered in the sugar toppings market report are Asia-Pacific, Western Europe,
Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing demand for baked goods is expected to propel the growth of the sugar
toppings market going forward. Baked goods refer to a product made from a dough
or batter that is baked. Sugar toppings are used to flavor and brighten baked
foods such as cakes, cookies, and desserts. For instance, according to the
government of Canada, the body responsible for the federal administration of
Canada, the retail sales of baked goods are anticipated to rise at a CAGR of
2.2% from 2022 to 2026, reaching US$75.8 billion in 2026. Therefore, the
increasing demand for baked goods is driving the sugar toppings market.
Key Industry Players
Major companies operating in the sugar toppings market report are The Hershey
Company, The Kraft Heinz Company, The J.M. Smucker Company, W. T. Lynch Foods
Ltd., Baldwin Richardson Foods Co., Pinnacle Foods Inc., Monin Inc., R.Torre
& Company Inc., Sudzucker AG, Coansa SA Industries & Comercio, Paulaur
Corporation, British Sugar plc, Tereos International, Mitr Phol Group, Watson
Incorporated, Quaker Oats Company, Regal Food Products Group plc, Girardelli
Chocolate Company, CK Products LLC, Cargill Inc., Tate & Lyle plc,
Ingredion Inc., Ajinomoto Co. Inc., Kerry Group, Domino Sugar Corporation, Imperial
Sugar Company, Zydus Wellness Ltd., Nordic Sugar A/S, Shree Renuka Sugars Ltd.,
Bannari Amman Sugars Limited
The sugar toppings market report table of contents includes:
1. Executive Summary
2. Sugar
Toppings Market Characteristics
3. Sugar
Toppings Market Trends And Strategies
4. Sugar
Toppings Market - Macro Economic Scenario
5. Global
Sugar Toppings Market Size and Growth
.
31. Global
Sugar Toppings Market Competitive Benchmarking
32. Global
Sugar Toppings Market Competitive Dashboard
33. Key
Mergers And Acquisitions In The Sugar Toppings Market
34. Sugar
Toppings Market Future Outlook and Potential Analysis
35.
Appendix
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