Supply for materials used in bakery and confectionary and trade volumes will have to increase in order to meet the increased population. An increase in the population creates more demand for food. The world's population is growing and is expected to reach 10 billion by 2050. For instance, Zaabar, Rococo Chocolates, and Rozsavologyi Csokolade are manufacturing chocolate bars with cardamom flavouring. Using natural flavors manufacturers are imparting new and unique taste profiles into their products. According to the United States Food and Drug Administration, the term 'natural flavour' or 'natural flavoring' means the essential oil, oleoresin, essence or extractive, protein hydrolysate, distillate, or any product of roasting, heating, or enzymolysis, which contains the flavouring constituents derived from a spice, fruit or fruit juice, vegetable or vegetable juice, etc. Innovation has been key to the development of the confectionery market. The bakery & confectionary market is expected to grow to $1216.76 billion in 2027 at a CAGR of 5.2%.Ĭonfectionery manufacturers are increasingly using natural flavours in confectionery products. The global bakery & confectionary market grew from $934.45 billion in 2022 to $993.64 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. Dublin, (GLOBE NEWSWIRE) - The "Bakery & Confectionary Global Market Report 2023" report has been added to 's offering.
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