Global Marzipan Market 2017-2021

Overview of the global marzipan market

Research analysis on the global marzipan market identifies that the increasing exports of marzipan products will be one of the major factors that will have a positive impact on the growth of the market.  The increasing demand for marzipan products from countries such as the US, Brazil, China, Japan, and Canada and the rise in the export of marzipan products from leading European vendors are driving the growth of the marzipan market. Vendors are also increasingly focusing on strengthening their market position and influencing other confectionery manufacturers to enter into the marzipan industry. Owing to the growth in exports, the visibility and sales of marzipan products by major vendors in other countries has also increased.  This will pave the way for enhancing their customer base. The main season for imports and exports of marzipan products is primarily during festivals like Christmas and Easter, when there is a rise in demand for marzipan products. However, due to the rising number of new product launches containing exotic and ethnic flavors of marzipan and increasing use of marzipan in products such as bread, egg-shaped confectionery items, and chocolates, there has been a rise in exports and imports of marzipan during off-season as well over the last five years. Technavio’s market research analysts predict that this market will grow at a CAGR of around 3% by 2021.

The rising gifting trend in marzipan products is one of the latest trends that will contribute to the growth of this market in the forthcoming years. Consumers are increasingly purchasing marzipan products and other confectionery items not only for individual consumption but also for gifting purposes. The factors that are responsible for the growing gifting trends for marzipan products are the economic growth of developing nations like India, Indonesia, China, and Australia and the rise in disposable income of consumers. The easy accessibility of marzipan products through growing number of online web portals and convenience stores for long-distance gifting purposes will also fuel the market’s growth. 

Competitive landscape and key vendors  

The marzipan market is moderately fragmented due to the presence of only a few large and small vendors. The players in the market compete based on numerous factors such as product differentiation, distribution, price, quality, and promotion. To sustain and succeed in this competitive environment, it becomes important for vendors to distinguish their product and services through a unique and clear value proposition.

The leading vendors in the market are -

• Moll Marzipan
• Niederegger
• Odense Marcipan
• ZENTIS

The 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.

Segmentation by application and analysis of the marzipan market

• Marzipan in confectionery and bakery products
• Marzipan in ingredients

During 2016, the marzipan in confectionary and bakery products accounted for the major shares of this market. Factors such as the increased utilization of  marzipan in bakery products like bread, cakes and egg-shaped confectionery products and the rising demand for confectionery items to be used as gifts during festivals, will contribute to the growth of this industry segment in the coming years. In addition, the availability of attractive and innovative shapes of marzipan products will also impact the growth of this market segment during the forecast period.

Geographical segmentation and analysis of the marzipan market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, EMEA will be the major revenue contributor to the marzipan market throughout the forecast period. The rising disposable income of consumers in Eastern European, Middle Eastern, and African economies and the large exports of marzipan products from EMEA to several countries across the world, will drive the growth of the market in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global marzipan market?
• What are the key market trends impacting the growth of the global marzipan market?
• What are the challenges to market growth?
• Who are the key vendors in the global marzipan market?
• What are the market opportunities and threats faced by the vendors in the global marzipan market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global marzipan market?

Technavio also offers customization on reports based on specific client requirement.