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Sugar Topping Market - Forecasts from 2022 to 2027

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    Report

  • 140 Pages
  • December 2022
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 5716715

The sugar topping market is projected to grow at a CAGR of 2.86% during the forecast period to reach US$7.392 billion in 2027 from US$6.067 billion in 2020.

Sugar is made up of soluble carbohydrates which can be found naturally in meals such as vegetables, fruits and milk. Sugar is regarded to be a quick and accessible source of energy imperative for the body and they come in a variety of forms such as caster sugar, granulated sugar, cane sugar etc. Sugar toppings are used in the form of dry or wet toppings as one of the ingredients in confectionaries and bakery commodities. This is done in order to enhance the food taste and also give it a fancy look used in the decoration of cookies, candies, cakes, and many more. Sugar toppings come in a variety of shapes and sizes in confectionaries and they are utilized efficiently as icing on cupcakes and sprinklers on the cake.

A rise in disposable income, changes in living and dietary conditions along with the increase in the demand for ready-to-eat food items are factors driving the growth of the sugar topping market. In addition, growing health concerns have led to the consumption of low-calorie intake giving rise to consumer preferences for low-sugar topping food items, especially in developed countries like Europe and North America. In the food industry, importance is given to product launches and when the product lunch is a new sugar topping, the stakes turn out to be higher. For instance, in the case of the giant confectionary Hershey in early 2019, the latest addition to the market was launched which was Hershey’s sugar toppings

Increased Confectionary Consumption

Confectionary consumption is on the rise. Especially in the case of children, candy consumption is particularly high owing to their need for sugar as a form of energy. Sweets, candies, chocolates and cereal bars are becoming increasingly popular over the world and all of these contain sugar. Moreover, a few bakery confections are also becoming popular such as cakes, pastries and even doughnuts. As a result of this, the global sugar topping market is expected to witness a rise with the growth of rising confectionery consumption.

Sugar toppings are available in multiple shapes and sizes in confectionery which further leads to the expansion of the confectionary sector owing to the increase in the number of high-end bakeries and sweet shops. Moreover, the easy availability of candy bars, chocolates, and cereal bars, all of which contain sugar on online retail channels is supplementing the market growth.

The rise in the consumer demand for flavoured sugar is also resulting in increased confectionery consumption which is projected to carry a substantial impact on the market of sugar toppings.

Sugar Toppings Geographical Overview

North America is anticipated to witness an increase in the sugar toppings market as a result of shifting habits as well as eating habits coupled with the increasing consumption of high-calorie foods. According to the United States chocolate industry, in 2019, roughly they were about 265.91 million people consumed chocolate and other candies further resulting in an increasing need for sugar toppings in North America. North America accounts for a fast-paced lifestyle which would be considered as one of the driving factors for the growth of the sugar topping market.

Apart from this, the market for sugar toppings in the U.S. will result in facing challenges due to their price supports, tariff rate quotas for gender sugar processing as well as domestic marketing allotments. The United States government uses duty to keep the US household price of natural sugar higher than the world market. Such persuading factors by the government are interrupting the growth of the sugar toppings market in the United States.

On the other hand, the European Union is anticipated to witness large production of beet sugar mostly in the northern half of Europe.

Market Developments

  • In 2021, JET-PUFFED Marshmallow Crème with a sweet, light flavour & fluffy texture with only 45 calories per serving was launched by Kraft Heinz. As the demand for low-calorie sugar toppings increases, the product is likely to gain traction in the market.
  • In 2022, Smucker’s has focused on expanding its product line beyond traditional sugar toppings by launching products such as sugar-free caramel topping, sugar-free hot fudge topping etc. The idea is to target the rising segment of consumers who do not wish to compromise their health while consuming sugar toppings.

Market Segmentation:

By Type

  • Dry Topping
  • Wet Topping

By Distribution Channel

  • Online
  • Offline

By Geography

  • North America
  • USA
  • Canada
  • Others
  • South America
  • Brazil
  • Others
  • Europe
  • Germany
  • UK
  • France
  • Others
  • Middle East and Africa
  • Israel
  • Others
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Others
Frequently Asked Questions about the Sugar Topping Market

What is the estimated value of the Sugar Topping Market?

The Sugar Topping Market was estimated to be valued at $6.07 billion in 2020.

What is the growth rate of the Sugar Topping Market?

The growth rate of the Sugar Topping Market is 2.8%, with an estimated value of $7.39 billion by 2027.

What is the forecasted size of the Sugar Topping Market?

The Sugar Topping Market is estimated to be worth $7.39 billion by 2027.

Who are the key companies in the Sugar Topping Market?

Key companies in the Sugar Topping Market include MiDAS Foods International, The Hershey Company, The J.M. Smucker Company, Quaker Oats Company, The Kraft Heinz Company, W.T. Lynch Foods Ltd, MONIN and R. Torre and Co..

Table of Contents

1. INTRODUCTION
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. SUGAR TOPPING MARKET BY TYPE
5.1. Introduction
5.2. Dry Topping
5.3. Wet Topping

6. SUGAR TOPPING MARKET BY DISTRIBUTION CHANNEL
6.1. Introduction
6.2. Online
6.3. Offline

7. SUGAR TOPPING MARKET BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1. United States
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. France
7.4.3. United Kingdom
7.4.4. Spain
7.4.5. Others
7.5. Middle East and Africa
7.5.1. Israel
7.5.2. Saudi Arabia
7.5.3. Others
7.6. Asia Pacific
7.6.1. China
7.6.2. Japan
7.6.3. South Korea
7.6.4. India
7.6.5. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.5. Major Players and Strategy Analysis
8.6. Emerging Players and Market Lucrativeness
8.7. Mergers, Acquisitions, Agreements, and Collaborations
8.8. Vendor Competitiveness Matrix

9. COMPANY PROFILES
9.1. MiDAS Foods International
9.2. The Hershey Company
9.3. The J.M. Smucker Company
9.4. Quaker Oats Company
9.5. The Kraft Heinz Company
9.6. W.T. Lynch Foods Ltd
9.7. MONIN
9.8. Baldwin Richardson Foods Co.
9.9. R. Torre and Co.

Companies Mentioned

  • MiDAS Foods International
  • The Hershey Company
  • The J.M. Smucker Company
  • Quaker Oats Company
  • The Kraft Heinz Company
  • W.T. Lynch Foods Ltd
  • MONIN
  • Baldwin Richardson Foods Co.
  • R. Torre and Co.