Global Marzipan Market 2017-2021
Marzipan is a type of confectionery product which is primarily made by using sugar, honey, and ground almonds. The confection traces its origins to a German city, Lübeck. In 2016, EMEA was the region where marzipan products were widely popular. However, marzipan products have been growing steadily in demand in the Americas and APAC regions as well, especially during the time of festivals like: Christmas and Easter. Marzipan in its raw form is widely used as a paste. Besides, it finds application in confectionery and bakery products industry as well.Technavio’s analysts forecast the global marzipan market to grow at a CAGR of 2.80% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global marzipan market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Marzipan Market 2017-2021
Technavio recognizes the following companies as the key players in the global marzipan market: Moll Marzipan, Niederegger, Odense Marcipan, and ZENTIS.
Other Prominent Vendors in the market are: Atlanta Poland, ERASMI & CARSTENS, Georg Lemke, JF Renshaw, Lübecker Marzipan Fabrik v. Minden & Bruhns, Marzipan Specialties, Productos Kelmy, and TEHMAG FOODS.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing trend of online retailing. With the growth of e-commerce businesses worldwide, vendors have the potential to enhance their profitability. E-commerce accounts for nearly 12% of the world’s retail trade. Online and e-commerce channels support both business-to-business (B2B) and business-to-consumer (B2C) operations.”
According to the report, one of the major drivers for this market is Growing diversity in the range of products. Consumers' preference for marzipan and other confectionery items depends on the availability of these products in the market. The larger the number of products available in assorted sizes and ranges, the higher will be the chances of consumers purchasing these multivariate products.
Further, the report states that one of the major factors hindering the growth of this market is High volatility in prices of almonds, pistachios, and walnuts. The prices of raw materials like almonds, pistachios, and walnuts, which are used to make marzipan products, have shown high volatility in the last five years, which has affected the imports and exports of these dry fruits. According to the United States Department of Agriculture (USDA), the prices of these commodities have declined by 15%-20% over the last 12 months. Additionally, there has been an increase of nearly 19% in the number of importers refusing shipments of these commodities due to fluctuations in the market.
Moll Marzipan, Niederegger, Odense Marcipan, ZENTIS, Atlanta Poland, ERASMI & CARSTENS, Georg Lemke, JF Renshaw, Lübecker Marzipan Fabrik v. Minden & Bruhns, Marzipan Specialties, Productos Kelmy, and TEHMAG FOODS.