Global Marzipan Market is Expected to Grow a CAGR of 2.6% during the Forecast Period

The latest market report published by Credence Research “Global Marzipan Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The Global Marzipan Market generated revenue of around USD 1408.2 million in 2020 and anticipated to grow at a CAGR of over 2.6% during the forecast period from 2021 to 2027 to reach around USD 1708.5 million in 2027.

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Marzipan is a confection ready by combining primary ingredients, sugar or honey, and almond meal. Also, it may have oil or almond extract. Marzipan is used to make sweets, cookies, icing, or rolled into slim sheets. Each region uses marzipan in a different way, which has effects on the marzipan market of that area. In certain locations, marzipan paste is used as a baking component. Marzipan is associated with celebrations and festivals around the globe. The wide range of use of marzipan, and its popularity is going to expand during the forecast period.

Key Trends in Global Marzipan Market

Increasing demand of marzipan across the globe

Increasing demand for marzipan across the globe is expected to drive the growth of the global marzipan market during the forecast period. The sales of marzipan increase significantly during the holiday season, requiring manufacturers to increase production and ease of use are factor expected to fuel the growth of the global marzipan market. Developing countries show a rising disposable income people to buy marzipan products from the store.

Impact of COVID 19 on Marzipan Market

The Marzipan market will show significant growth on the back of the global pandemic. As the result of the COVID-19 outbreak, the disease has spread across the globe and WHO declared it a public health emergency. As the globe continues to COVID-19, economies are moving into recession, under many unfavorable factors, the GDP of American and European countries in the 2nd quarter suffered a past contraction.

Global Marzipan Market by Product Type Insights

Finished product and Semi-finished product are some of the major product types through marzipan. Finished product segment accounted for the largest share in 2020 of the Marzipan Market in 2020.

Global Marzipan Market by Application Insights

Direct, Cake, and Other of Marzipan Market. In 2020, Direct accounted for the largest share of Marzipan Market.

Global Marzipan Market by Regional Insights

The North America market is accounted for the highest revenue share and is expected to dominate the global market over the forecast period. This is attributed to the popularity of marzipan and its products. Vast amounts of in disposable income also accounts for the sales of marzipan in this region. The demand for marzipan products is estimated to increase during the forecast period. Europe Marzipan Market is expected to register the fastest growth rate in the global market, due to wide use of marzipan in its raw form. The marzipan market in Latin America, Middle East & Africa are also estimated to expand in the near future.

Global Marzipan Market Competitive Landscape

Most prominent players in the global Marzipan Market include Niederegger, Zentis, Moll Marzipan, Georg Lemke, Carstens, JF Renshaw Ltd., Atlanta Poland S.A., Lubeca, Marzipan Specialities Inc., TEHMAG FOODS CORPORATION. The report covers very detailed profiles of these key players.

Market Segmentation

Global Marzipan Market by Product Type, 2015 – 2027

· Finished product

· Semi-finished product

Global Marzipan Market by Application, 2015 – 2027

· Direct

· Cake

· Other

Global Marzipan Market by Region, 2015 – 2027

· North America

· Europe

· Asia Pacific

· Latin America

· Middle East and Africa

Global Marzipan Market: Key Players

· Niederegger

· Zentis

· Moll Marzipan

· Georg Lemke

· Carstens

· JF Renshaw Ltd.

· Atlanta Poland S.A.

· Lubeca

· Marzipan Specialities Inc.