Asia Pacific Marzipan Market was worth USD xx billion in 2022 and estimated to be growing at a CAGR of xx %, to reach USD xx billion by 2028.
Marzipan is a confectionary product made up of sugar or honey and almond meals. The confection traces its origins to a German city, Lubeck. It is made into various products like sweets, chocolates covered with marzipan and marzipan imitations like fruits, vegetables, wedding and Christmas cakes. In cakes, it is rolled into thin sheets and glazed. These are very common in Asia Pacifican countries particularly UK on large fruitcakes.
Marzipan paste is used as baking additive as in stollen or blanket. The Famous traditional Swedish princess cake is covered with a various layer of marzipan that has been tinted pale green. During Christmas and New Year’s Day, it is shaped into small figures like animals, numbers and served as a traditional treat. It is also used in Tortell and in some types of king cake eaten during the carnival season.
Drivers and Restraints:
The major drivers for the Asia-Pacific marzipan market is growing diversity in the range of products, increasing trend of online retailing, consumers preference for marzipan and other confectionery items and large number of marzipan products available in assorted sizes and ranges. However, factors like unavailability of the product globally and limited number of professionals for making marzipan are restraining the growth of the market.
Asia Pacific Marzipan Market Segmentation Analysis:
The Asia-Pacific Marzipan Market is segmented on the basis of Type and Application. Depending on type, the market is segmented into Finished and Semi-Finished product. On the basis of Application, the market is segmented into direct marzipan, cakes, chocolates, sweets and others. Marzipan Cakes and Sweets had the largest segment accounting for more than 70% of the total market. The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Asia-Pacific is projected to be fastest growing due to the lack of recipe, growing economies and emerging of western culture in Asian countries.
Key Players in the Market:
Major key players in the Asia Pacific Marzipan Market are
Key players dominating the Marzipan market are 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.
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