Sugar toppings manufacturers struggle with low investor confidence, necessitating quick and major policy responses as preventive measures to curb supply chain issues.
DUBAI, UAE / ACCESSWIRE / May 11, 2020 / Restrictions induced by lockdowns and social distancing measures have been holding a severe economic impact on foodservice sector, which is the primary consumer segment of sugar topping products. Sugar toppings are registering a dip amid the rapid spread of the coronavirus pandemic, as foodservice facilities remain shuttered, leading to a major dip in demand for dessert foods. Long-term outlook is however promising, as suggested by a new Future Market Insights (FMI) study. The sugar toppings market would surpass revenues worth US$ 10 Bn in 2029, projects the report.
"The fears over coronavirus and precautionary measures including restrictions on social, religious, and public meetings will cut the consumption of sugar toppings. The pandemic has also significantly disrupted international trade, hampering key supply chains," says the FMI analyst.
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Key Takeaways of Sugar Topping Market Study
- Sales of dry sugar toppings will continue to surge post the pandemic, driven by demand for confectionary applications.
- While conventional sugar toppings retain high demand from bakery and food processing industries, organic variants are gaining traction with changes in consumer preferences.
- Bakery applications will retain the lead, while confectionary end uses are being driven by the rising demand of flavored sugar products.
- North America holds the majority share in the global sugar toppings market, while the Middle East is projected to generate key remunerative opportunities, with growth of production facilities.
Sugar Toppings Market - Key Growth Factors
- Growing awareness about no-sugar and low-sugar topping alternatives are a key factor sustaining the sales through the forecast period.
- Rise of processed food facilities in emerging economies such as India, China, the Middle East and Brazil will drive the market growth through the forecast period.
- Prevalent high-calorie food consumption patterns are pushing the adoption of sugar toppings.
- Heightening demand for confectionary items among children and young adults will propel the market growth through 2029.
Sugar Topping Market - Key Restraints
- The growing consumer awareness about adverse health effects of sugar consumption, coupled with growing cases of obesity and diabetes hinder market growth.
- Competition from alternative sweeting sources such as stevia are also limiting the adoption of conventional sugar toppings.
Impact of COVID-19 on Sugar Toppings Market
With a large portion of the world continuing under lockdown due to COVID-19, which has hit the global economy very hard. Food processing and service businesses are some who have taken the brunt of the impact. Across the globe, investors have been concerned about the impact the pandemic is having on the sugar industry.
The demand for sugar toppings is expected to continue sliding for the near future, as consumption of dessert products such as cakes and pastries slump with the shut down of bakery operations. This has disrupted supply chains, with a growing gap between supply and demand.
Explore the full sugar toppings market report with 112 illustrative figures, 128 data tables and table of contents. Request ToC of the study at https://www.futuremarketinsights.com/askus/rep-gb-11315
Competitive Landscape of Sugar Toppings Market
Some of the major companies profiled in this FMI report include, but are not limited to, Monin Inc., R. Torre & Company Inc., Pinnacle Foods Inc., The Kraft Heinz Company, Baldwin Richardson Foods Co., The J.M. Smucker Company, and W.T. Lynch Foods Ltd. Various collaboration activities and expansion regional presence is being prioritized by players in sugar topping market. In addition, mergers and acquisitions remain a key strategy among major market players.
More about the Report
This FMI study of 250 pages provides all-inclusive insights on the global sugar toppings market. The market analysis is based on application (bakery, confectionary, dairy, ready-to-eat snacks, convenience foods, and packaged food), type (dry and wet), and nature (organic and conventional), across six regions (North America, Latin America, Europe, Asia, Oceania, Middle East & Africa).
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Expert analysis, actionable insights, and strategic recommendations of the veteran research team at FMI helps clients from across the globe with their unique business intelligence requirements. With a repository of over thousand reports and 1 million+ data points, the team has scrutinized the food & beverages industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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SOURCE: Future Market Insights
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https://www.accesswire.com/589317/Examining-the-COVID-19-Impact-Sugar-Toppings-on-a-Sudden-Downtrend-as-Foodservice-Businesses-Remain-Shuttered-amid-Pandemic--Future-Market-Insights
