Global Marzipan Market is Estimated to Expand at 2.9% CAGR through 2032

Global Marzipan Market is Estimated to Expand at 2.9% CAGR through 2032

Progressing at a CAGR of 2.9%, the global marzipan market is projected to increase from a size of US$ 1.5 billion in 2022 to US$ 2.01 billion by 2032. With exorbitant demand for various confectionary items, marzipan industry is expected to witness persistence in the years to come. Technological advancements are also commercializing the production of marzipan, thereby putting the marzipan market on the top pedestal in the near future.

Marzipan gets created by mixing two basic components — almond meal and honey/sugar. At times, almond essence is also added. It generally finds its place in cookies, desserts, cakes, and frosting.

Marzipan is typically employed in the creation of desserts, cookies, frosting, and cakes. Consumers are drawn to this product by the rising popularity of cakes and confectionery items.

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The most appealing characteristic for health-conscious consumers is that marzipan is a product that is filled with protein and organic colours, which is driving its demand and popularity in the market.

There are several flavours of marzipan, such as vanilla, chocolate, nuts & cereals, fruits, and many more. It is anticipated that the market for marzipan will expand in the next years as a result of the clear appeal of this confectionery item.

What is Driving Sales Growth of Marzipan?

“Increasing Availability of Marzipan Products with Natural Colours & Flavors”

Due to the growing popularity of to-go cake products, which is predicted to propel the market’s expansion at a quick rate in the coming years, marzipan is currently receiving a lot of customer attention.

As customer preferences for multivariate confectionery goods change along with the rise in demand for protein-enriched foods and treat with organic colours, the marzipan industry is predicted to perform well throughout the projected period.

Increased cake enterprises to meet the growing customer demand for custom cakes, such as wedding cakes, Christmas cakes, and innovatively designed cakes for special events. Additionally, as health consciousness among consumers and the number of celiac sufferers rises, so does the market’s need for goods free of gluten rises.

The emergence of small businesses, an increase in confectionery consumption per person, shifting consumer preferences for baked food items such as cakes and cookies, and growing in-store bakeries are reasons driving worldwide marzipan market expansion.

Key Segments Covered in the Marzipan Industry Survey
By Flavor :
 Vanilla, Chocolate, Nuts & Cereals, Spices, Fruits, Beverages
By Packaging : Tubes, Cans, Boxes
By Distribution Channel : Direct, Indirect
By Region : North America, Latin America, Europe, East Asia, South Asia & Oceania, MEA

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Competitive Landscape
The key participants are emphasizing on both — organic and inorganic modes of expansion for keeping themselves affable.

Lemon Decoration Group was acquired by Cargill in May 2021, so as to improve the latter’s scope with regards to serving the customers pertaining to chocolates and cocoa.
Valeo Foods, in January 2021, did acquire Schluckwerder Group from Novum Capital to refurbish the entire set of operations.

Key players in the Marzipan Market
J. G. Niederegger GmbH & Co. KG
Zentis GmbH & Co. KG
Moll Marzipan GmbH
Odense Marcipan Company
Georg Lemke GmbH u. Co. KG
Carstens Lübecker Marzipan
JF Renshaw Ltd.
Horst Schluckwerder OHG

Key Takeaways from Marzipan Market Study
The global marzipan market is bound to reach US$ 2.01 Bn by the year 2032.
North America holds 22.4% of the overall market and the scenario is expected to remain unchanged in the forecast period.
Europe contributes for 25.6% of the entire marzipan market.
Marzipan is the most preferred festive dish all across the Europe. As such, Europe is expected to be on the top of the marzipan market. Greece and Italy are expected to lead from the front.
Chocolate flavour is the top priority in marzipan market.