Sugar is a carbohydrate used in food to induce sweetness. Sugar is derived from various sources such as sugarcane. There are various types of sugars such as monosaccharide (simple sugar), galactose, and fructose. The sugar that humans consume is called sucrose, which when consumed will hydrolyse into glucose and fructose. Sugar is mainly used in bakeries and commercial beverages as a sweetener.
In bakery and confectionery, sugar is mainly used as a sugar topping, which helps to enhance the taste and provides an appealing look. Sugar toppings are used in a powdered form, which is finely crushed and grained sugar. It is always enriched with different ingredients such as butter, cream cheese, egg whites, and flavoring. It is used in various products such as sugar confectionery, chocolates, chewing gum, cakes, and others.
Due to the increasing demand for confectionery products and baked goods, it is expected that the market will have lucrative growth throughout the forecast period.
Globally, sugar toppings are growing at a substantial rate which is due to the expansion of the retail market. Increasing disposable income and growing consumption of confectionery products are some of the reasons driving the growth of the sugar toppings market. Factors anticipated to propel market growth in the near future include gifting of confectionery products, exponential growth in the population, and rapid urbanization. The increase in demand for ready-to-eat food, fast-paced lifestyle, and increasing interest of consumers in delicacies are other driving the growth of the sugar toppings market. There are two types of sugar toppings available- dry and wet. The consumption of wet sugar toppings is more.
It is observed that Europe and North America consume more amount of sugar toppings as compared to other regions. This is due to the change in eating habits and lifestyles. Major growth of the market is due to the rise in the consumption of confectionery products by consumers, marketing of beverage sauces, and breakfast syrups in the APAC region. The recent trend in the market is the launch of low-sugar toppings or zero-sugar toppings in the market. This will create an awareness among the health-conscious consumers.
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Global Sugar Toppings Market: Segmentation
On the basis of type, the global sugar toppings market has been segmented as:
- Wet Toppings
- Dry Toppings
On the basis of nature, the global sugar toppings market has been segmented as:
On the basis of end use, the global sugar toppings market has been segmented as:
- Ready-to-eat Snacks
- Convenience Food
- Packaged Food
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Global Sugar Toppings Market: Market Participants
Some of the market participants operating in the global sugar toppings market identified across the value chain include The J.M. Smucker Company, Pinnacle Foods, Inc., The Hershey Company, The Kraft Heinz Company, Monin Incorporated, Baldwin Richardson Foods Company, R. Torre & Company, Inc., Ghirardelli Chocolate Company, W.T. Lynch Foods Ltd., Regal Food Products Group Plc, CK Products LLC, and Quaker Oats Company.
Opportunities for Participants in the Sugar Toppings Market
There are certain factors such as rise in the demand for baked products and confectionery which helps drive the growth of the global sugar toppings market. The introduction of low-sugar toppings in the market will increase opportunities for the growing manufacturers. The rising number of small manufacturers of sugar toppings in every region can adopt the manufacturing process to make sugar toppings from the big players, which will create more opportunities for them.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.