Sugar Toppings Market worth 6.93 Billion USD by 2021
Sugar Toppings Market by Type (Dry Sugar Toppings, Wet Sugar Toppings), Channel (Industrial, Grocery, Foodservice), and by Region (North America, Asia-Pacific, Europe, Rest of the World) - Global Forecasts to 2021", The global sugar toppings market is projected to reach USD 6.93 Billion by 2021, at a CAGR of 6.0% between 2016 and 2021. Growth in the sugar toppings market is mainly attributed to rising consumption of confectioneries, growth in the consumption of low-sugar topping products in Europe, and marketing of breakfast syrups and beverage sauces in the Asian market.
Wet sugar toppings is the largest type segment in the sugar toppings market
Among all types, the wet sugar toppings segment held the largest share in the sugar toppings market, in terms of volume. This segment is projected to grow at the highest CAGR between 2016 and 2021 in terms of volume. 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
The industrial channel segment held the largest share in the sugar toppings market. This large share is primarily due to growth in demand from bakeries.
North America is the largest regional segment in the sugar toppings market
In terms of value, North America region accounted for the largest share of the global sugar toppings market in 2015. North America is a lucrative market for confectionaries, beverages, and other processed food products. Bakeries, quick service restaurants (QSRs), and hotels are important end-use segments in the region. The consumption of sugar toppings in this region is considerably high. However, the market has reached a state of saturation due to the huge size of the market and little scope for further penetration.
An in-depth market share analysis, in terms of revenue, of top companies is also included in this report. Some of the leading players in this market include The J.M. Smucker Company (U.S.), The Hershey Company (U.S.), Pinnacle Foods, Inc. (U.S.), The Kraft Heinz Company (U.S.), Baldwin Richardson Foods Company (U.S.), Monin Incorporated (U.S.), R. Torre & Company, Inc. (U.S.), W.T. Lynch Foods Ltd. (U.S.), Ghirardelli Chocolate Company (U.S.), CK Products LLC (U.S.), Quaker Oats Company (U.S.), Regal Food Products Group Plc (U.K.), among others
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