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.
The marzipan market is anticipated to develop well during the anticipated period as consumer preferences for multivariate confectionary goods alter along with the rise in demand for protein-enriched foods and treats with organic colors. Increased cake businesses to satisfy the rising demand from consumers for personalized cakes, including wedding cakes, Christmas cakes, and creatively made cakes for special occasions. Additionally, as consumer awareness of health issues and the number of celiac disease patients develops, so does the market’s need for gluten-free products.
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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.
Competitive landscape:
The main strategies used by market participants include the introduction of novel products, acquisitions & mergers, principal partnerships, and potential strategic partnerships.
The introduction of new and traditional marzipan products by producers in the confectionery sector is likely to lead to a positive increase in the demand for marzipan products around the world.
- Leman Decoration Group, a supplier of cake decorations to the baking industry, was purchased by Cargill for an undisclosed value in May 2021. The agreement will look at how Cargill can increase the number of embellishments it offers, enabling its cocoa and chocolate division to better serve upscale consumers in Europe and around the world. Leman Decoration Group was founded in 1963 and produces marzipan, chocolate, and sugar cake decorations.
- Schluckwerder Group, a manufacturer of Lübeck marzipan, was acquired by Dublin-based Valeo Foods in January 2021 from German investment group Novum Capital. Novum Capital started assembling a new leadership team for Schluckwerder Group at the end of 2018 that included a CEO, COO, and CFO.
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.
- ATLANTA Poland S.A.
- Horst Schluckwerder OHG
Key Segments Covered in Marzipan Industry Research:
- 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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How will be insights and market estimations provided in the Fact.MR report on the Demand of Marzipan make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Marzipan Market
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets
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