Growth Strategies Adopted by Major Players in the Fillings and Toppings Market
The Fillings and Toppings Market size is estimated to be valued at USD 11.9 billion in 2022 and is projected to reach USD 15.9 billion by 2027, recording a CAGR of 6.0% during the forecast period in terms of value.
The market for fillings and toppings has been driven by several external factors such as growing urbanization, changing taste preferences with unique flavors, changing traditional eating patterns, expanding food chains, and a growing population that has contributed to the markets expansion. Additionally, increased consumption of convenience food and snacking habit, busy lifestyle, are some other factors that had enhanced the market demand. Developing markets offer higher potential for greater market penetration, while in developed markets, innovation in new flavors and healthy ingredients drive the market growth.
Barry Callebaut (Switzerland) is one of the world’s leading manufacturers of high-quality chocolate and cocoa products. It is the global leader in chocolate and cocoa innovations and provides a comprehensive range of services in the fields of product development, processing, training, and marketing. Barry Callebaut is committed to sustainable cocoa production through its “Cocoa Horizons” initiative and to help ensure future supplies of cocoa used as a raw material in fillings and toppings and the company provides end product in the form of magical cocoa powder used as a topping and filling in the bakery and confectionery industries.
Tate & Lyle PLC (U.K.), is engaged in the manufacture and marketing of food and industrial ingredients. The company operates through two business segments—specialty food ingredients and bulk ingredients. It serves a broad range of applications in food & packages, animal feed, industrials, and pharmaceuticals & personal care. It operates in South America, the Middle East and Africa, Europe, and Asia-Pacific.
The market for fillings and toppings has been driven by several external factors such as growing urbanization, changing taste preferences with unique flavors, changing traditional eating patterns, expanding food chains, and a growing population that has contributed to the markets expansion. Additionally, increased consumption of convenience food and snacking habit, busy lifestyle, are some other factors that had enhanced the market demand. Developing markets offer higher potential for greater market penetration, while in developed markets, innovation in new flavors and healthy ingredients drive the market growth.
Key players in this market include ADM (US), Barry Callebaut (Switzerland), Tate & Lyle (US), AGRANA Beteiligungs-AG (Austria), Associated British Foods plc (UK), Cargill (US), AAK AB (Sweden), Ashland (US), Highlander Partners (US), and Zentis GmbH & Co. KG (Germany).
The existing players in the fillings and toppings market are focused on improving their market shares. The top players in the market have been focusing on expanding their market presence, enhancing their products, and partnering with many channel partners to cater to manufacturers across the globe. The fillings and toppings market has many organized players at the global level and unorganized players at the local level in several countries. The top ten players in the industry hold a market share of 10-15%. Furthermore, for new entrants, the entry barrier is high as this industry requires innovations in the formulation of new fillings and toppings in order to stand out in the global market.
Barry Callebaut (Switzerland) is one of the world’s leading manufacturers of high-quality chocolate and cocoa products. It is the global leader in chocolate and cocoa innovations and provides a comprehensive range of services in the fields of product development, processing, training, and marketing. Barry Callebaut is committed to sustainable cocoa production through its “Cocoa Horizons” initiative and to help ensure future supplies of cocoa used as a raw material in fillings and toppings and the company provides end product in the form of magical cocoa powder used as a topping and filling in the bakery and confectionery industries.
Tate & Lyle PLC (U.K.), is engaged in the manufacture and marketing of food and industrial ingredients. The company operates through two business segments—specialty food ingredients and bulk ingredients. It serves a broad range of applications in food & packages, animal feed, industrials, and pharmaceuticals & personal care. It operates in South America, the Middle East and Africa, Europe, and Asia-Pacific.
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