Caramel Market Share, Size and Industry Growth Analysis 2021 - 2026

Report Code: FBR 0274 Report Format: PDF + Excel (Delivery in 48 Hrs)

Caramel Market Overview

Caramel Market is set to register a CAGR of 5.3% and a market value of $3,650 million in 2020 over the forecast period of 2021-2026. Caramel is a type of candy that can be mixed with cream and other ingredients to make caramel sauce or soft caramel candy. It is obtained by heating sugar at 340 degrees Fahrenheit which is also called caramelization. Caramel puddings and caramel toppings are mostly consumed by the population owing to their delicious taste. Caramel contains a glazing agent that helps to prevent water loss from a surface. Caramel is a kind of confectionery product that is used as flavorings in desserts and fillings in various types of confectionery products. Caramel is also known as a binding agent for several types of candies such as caramel corn, etc. Caramel is a rich and very sweet taste that is easily found at most major grocery stores. The demand for confectionery products increases among the population which escalates the growth of the Caramel Market. Moreover, the rising development in the food and beverage sector is driving the growth of the Caramel Market. Furthermore, research and development activities related to product development increase and growing investment among manufacturers for developing various confectionery sectors also enhance the overall market demand for Caramel Market for the period 2021-2026.      

Report Coverage

The report: “Caramel Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Caramel Market.    

By Function: Flavors, Colors, Toppings, Fillings, and Others

By Form: Solid and Semi-Solid, and Liquid

By Application: Bakery and Confectionery, Dairy and Frozen Desserts, Beverages, Snacks, and Others

By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa)

Key Takeaways

  • In 2020, North America dominated the Carmel Market. This is owing to soaring advancements in technology that improve the development of the food and beverage sector. Moreover, the rising consumption of confectionery products, convenience foods increases the demand for caramel. This factor is enlarging the growth in Caramel Market.
  • The demand for confectionery products increases among the population which escalates the growth of the Caramel Market. Moreover, the rising development in the food and beverage sector is driving the growth of the Caramel Market.
  • The prominent manufacturers operating in the market will be provided with a detailed analysis of Strengths, Weaknesses, and Opportunities in the Caramel Market report.  

Caramel Market Size, By Application, 2020 (%)

 Caramel Market

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Caramel Segment Analysis – By Function

The Caramel Market based on Function can be further distributed into Flavors, Colors, Toppings, Fillings, and Others. The Colors segment is the major segment generating revenue in 2020. Caramel color is used for coloring foods which helps to change the structure and texture that creates attraction among consumers to adopt coloring food. So, the use of caramel color increases in various beverages as it helps to provide various colors which increase the variety in beverages, therefore, enlarging the growth in Caramel Market. The Flavors segment is estimated to register the fastest CAGR of 5.9% for the period 2021-2026. Caramel is mostly used to provide flavors in bakery and confectionery products. This flavor helps to enhance the taste of products which is rising the use of caramel in the confectionery and bakery industry and further propels the growth of the Caramel Market.  

Caramel Segment Analysis – By Application

The Caramel Market based on Application can be further segmented into Bakery and Confectionery, Dairy and Frozen Desserts, Beverages, Snacks, and Others. The Bakery and Confectionery segment registered for the highest Caramel Market share in 2020. This is owing to the rising consumption of cakes, desserts, and various bakery products. Caramel is used extensively in bakery and confectionery products as it helps in enhancing the taste, post covid the bakery products sales has also increased by 5% which will likely push the caramel Market. The Beverages segment is forecasted to register the fastest CAGR of 6.1% over 2021-2026. Rising innovation in a variety of beverages increases the use of caramel to provide an exotic look and flavor. Moreover, a variety of restaurants, foodservice sectors are providing beverages with caramel that attracts consumers to adopt the beverages. This factor tends to increase the sales of beverages which propels the growth of the Caramel Market.

Caramel Segment Analysis – By Geography

North America dominated the Caramel Market with a major share of 40% in 2020. This is owing to soaring advancements in technology that improve the development of the food and beverage sector. Moreover, the rising consumption of confectionery products, convenience foods increases the demand for caramel. This factor enlarges the growth in Caramel Market. In the U.S., chocolate consumption rates among adults increased by 7% in 2020 which increases the demand for caramel and thus boosts the market growth. However, Asia Pacific is projected to be the fastest-growing market during the forecast period 2021-2026 owing to changing eating patterns and lifestyle increases the consumption of caramel flavors products. In India, the chocolate industry is growing rapidly and the sales of confectionery products increased by 64% which further enlarges the growth in Caramel Market.

Caramel Market Drivers:

The demand for confectionery products increases among the population is likely to escalate the growth of the Caramel Market

The demand for confectionery products increases owing to their wide availability in a variety of flavors which enhance the demand of the caramel market. Moreover, kids are consuming more confectionery products owing to their sweet taste. This factor is encouraging manufacturers to develop a variety of confectionery products with the help of caramel to enhance taste which increases the sales of confectionery. According to National Confectionery Association, the sales of confectionery products increased at a rate of 74.7% in 2021 that further is driving the demand of the Caramel Market over the period 2021-2026.   

Caramel Market Challenges:

The increasing price of caramel is acting as a hurdle for the Caramel Market

The factors that are set to affect the growth of the market are the increasing price of caramel. Recently, the price of caramel increased at a rate of 30% owing to the rising price of raw materials. Ingredients such as sugar, sweetened condensed milk, corn syrup, oil, and calcium carbonate are primary materials in manufacturing Caramel. Post covid all the listed ingredients price have increased significantly, which is likely to impact the final production and pricing of Caramel products which is set to challenge the growth of the market.

Caramel Landscape

Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Caramel Market. Caramel top 10 companies include:

  1. Kerry Group
  2. Cargill
  3. Ghirardelli
  4. Bakels Worldwide
  5. Nigay SAS
  6. Metarom Group
  7. Martin Braun KG
  8. Puratos Group
  9. Barry Callebaut AG
  10. Goteborgsfood Budapest Ltd.

Acquisitions/Development:

In 2020, Ghirardelli launched new White Chocolate Caramel SQUARES which is available at $4.49 for a five-ounce bag. This product launch has helped the company to gain traction in the Caramel product segment.

Relevant Reports:

Confectionery Market

Report Code: FBR 70235

South America Ice-Creams &  Frozen Dessert Market

Report Code: CPR 0076

For more Lifesciences and Healthcare Market reports, please click here

1. Caramel Market Overview
    1.1 Definitions and Scope
2. Caramel Market Executive Summary
    2.1 Market Size and Key Trends
    2.2 Key trends by Function
    2.3 Key trends by Form
    2.4 Key trends by Application
    2.5 Key trends by Geography
3. Caramel Market Landscape
    3.1 Market Share Analysis- Key Companies
    3.2 Product Benchmarking- Key Companies
    3.3 Financial Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Caramel Market- Startup companies Scenario Premium Premium
    4.1 Key startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Application Analysis
        4.1.4 Venture Capital and Funding Scenario
5. Caramel Market- Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of successful ventures
6. Caramel Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Customers
        6.3.3 Threat of New Entrants
        6.3.4 Rivalry Among Existing Players
        6.3.5 Threat of Substitutes
7. Caramel Market Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Caramel Market– By Function (Market Size -$Million/$Billion)
    8.1 Flavors
    8.2 Colors
    8.3 Toppings
    8.4 Fillings
    8.5 Others
9. Caramel Market– By Form (Market Size -$Million/$Billion)
    9.1 Solid and Semi-Solid
    9.2 Liquid
10. Caramel Market– By Application (Market Size -$Million/$Billion)
    10.1 Bakery and Confectionery
    10.2 Dairy and Frozen Desserts
    10.3 Beverages
    10.4 Snacks
    10.5 Others
11. Caramel Market- By Geography (Market Size -$Million/$Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 U.K.
        11.2.2 Germany
        11.2.3 Italy
        11.2.4 France
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Australia
        11.3.3 Japan
        11.3.4 South Korea
        11.3.5 India
        11.3.6 Rest of Asia-Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Others
    11.5 Rest of the World
        11.5.1 Middle East
        11.5.2 Africa
12. Caramel Market Entropy
13. Caramel Market- Industry / Segment Competition landscape Premium Premium
    13.1 Market Share Analysis
        13.1.1 Market Share by Country- Key companies
        13.1.2 Market Share by Region- Key companies
        13.1.3 Market Share at Global Level- Key companies
        13.1.4 Competition Matrix
        13.1.5 Best Practices for Companies
14. Caramel Market- Key Company List by Country Premium Premium
15. Caramel Market Company Analysis
    15.1 Company Revenue, Products, M&A, Developments
    15.2 Company 1
    15.3 Company 2
    15.4 Company 3
    15.5 Company 4
    15.6 Company 5
    15.7 Company 6
    15.8 Company 7
    15.9 Company 8
    15.10 Company 9
    15.11 Company 10
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