The Global Sugar Toppings market has been estimated at USD 5.25 Billion in 2016 and is projected to reach USD 7.08 Billion by 2021, at a CAGR of 6.15% during the forecast period from 2016 to 2021.
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Sugar Toppings are mainly used by confectioners in the making of various confectionaries and other bakery items both as an ingredient and as a decorative item. It mainly consists of icing sugar, which is a finely ground sugar made by milling normal granulated sugar into a powdered state.
It usually contains a small amount of anti-caking agent, to prevent clumping and improve flow. It is often lightly dusted onto baked goods to add a light sweetness and subtle decoration.
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The factors that are driving the market for Sugar Toppings are rise in consumption of confectioneries, increasing disposable income, growing retail market, increasing trend of gifting confectioneries items as well as increasing population and urbanization. R&D in terms of product innovation & new product development is also driving the market growth.
But, the market growth is constrained due to health awareness among consumers, as products made from sugar has high number of calories. Due to this, these products are mainly avoided by people affected with Diabetes and Obesity, due to which the market growth can be hampered
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Global market for Sugar Toppings is segmented based on type and application. By type, the market is further sub-segmented into Dry Sugar Toppings (Dried Icing Sugar, Sprinkles, Flavored Sugars, Moisture Resistant Icing Sugar), and Wet Sugar Toppings (Beverage Sauces, Breakfast Syrups).
By Channel, the market is further sub-segmented into Industrial, Grocery, Food service. Wet sugar toppings is the largest type segment in the sugar toppings market.
The high growth of this segment is mainly attributed to the increasing demand of sugar toppings in hot and cold beverages. Industrial channel segment is the largest channel segment in the sugar toppings market.
This large share is primarily due to growth in demand from bakeries.
Geographically, Global market for Sugar Toppings is segmented into North America, Asia Pacific, Latin America, Europe, and Middle-East and Africa. North America is the biggest market in terms of market share across the globe, followed by Europe.
Sugar Toppings demand in the Europe region is primarily driven by bakers and confectioners. The sugar toppings market in the Asia-Pacific region is projected to grow at the highest CAGR, due to the increased consumption of hot & cold beverages in the region, along with growing demand for confectionaries, such as cakes and cupcakes in the emerging economies
J.M. Smucker Company, The Hershey Company, Pinnacle Foods, Inc., The Kraft Heinz Company, Baldwin Richardson Foods Company, Monin Incorporated, R. Torre & Company, Inc., W.T.
Lynch Foods Ltd., Ghirardelli Chocolate Company, CK Products LLC, Quaker Oats Company, Regal Food Products Group Plc., are the major players of Global Sugar Toppings market.
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