North America Marzipan Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The North America marzipan market size is expected to reach US$ 416.77 million by 2031 from US$ 297.10 million in 2023. The market is estimated to record a CAGR of 4.3% from 2023 to 2031.

Executive Summary and North America Marzipan market Analysis:

The marzipan market is witnessing significant growth in North America due to the increased production and demand for bakery and confectionery products in the region. Marzipan is widely used as an ingredient to produce various bakery and confectionery items, such as fruit cakes, fruit breads, cupcakes, candies, and used as icing sugar. The US, Canada, and Mexico have witnessed a surge in demand for various bakery and confectionery products. According to the US Department of Agriculture, in 2023, the US exported confectionery products worth US$ 447 million to Canada and US$ 87 million to Mexico. An upsurge in the production and demand for bakery and confectionery products is expected to propel the demand for marzipan as an ingredient in the North American market over the forecast period. Additionally, the increased demand for marzipan products during the festive season and other special occasions contributes to the growth of the North America marzipan market in North America.

North America Marzipan Market Strategic Insights

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North America Marzipan Market Segmentation Analysis

Key segments that contributed to the derivation of the marzipan market analysis are nature, category, and end user.

• Based on nature, the North America marzipan market is bifurcated into organic and conventional. The conventional held a larger share of the market in 2023.
• By category, the North America marzipan market is bifurcated into low/no sugar and regular. The regular segment held a larger share of the market in 2023.
• By end user, the North America marzipan market is segmented into foodservice, food retail, and food processing. The food processing segment held the largest share of the market in 2023.

North America Marzipan Market Outlook

Marzipan is traditionally associated with celebrations and festive events. Its rich flavor, versatility, and ability to be molded into various shapes make it a popular choice for confectioneries and home bakers. Whether as a filling for cakes, a coating for pastries, or a material that can be sculpted into decorative shapes, marzipan often features in holiday treats, wedding cakes, and other unique desserts. The extensive reach of social media has further led to an increased focus on visually appealing desserts and confections, further adding to the popularity of marzipan due to its decorative potential. This has led to a surge in demand from individual consumers and professional bakers and confectionery manufacturers looking to create unique, customized offerings for their customers. Moreover, the trend of gifting sweets and desserts during holidays and special occasions is contributing to the growth of the marzipan market. It is often packaged and sold in decorative boxes or gift sets for holiday gifting. Seasonal spikes in demand, such as during Christmas, Easter, and weddings, provide periodic boosts to the market. As consumers continue to seek high-quality, artisanal, and aesthetically pleasing confections for special occasions, the demand for marzipan would continue to increase in the future.

North America Marzipan Market Country Insights

Based on country, the North America marzipan market comprises the US, Canada, and Mexico. The US held the largest share in 2023.

The US marzipan market is expected to proliferate owing to the increased production of bakery and confectionery products such as cakes, cookies, biscuits and others. Marzipan is used as an ingredient in the cookies and biscuits and as an icing on cakes. The country is one of the largest producers of bakery and confectionery goods with a prominent engagement in international trade activities. The US exports bulk confectionery products to various parts of the world, including Australia, the European Union, Vietnam, Canada, and Mexico. According to the US Department of Agriculture, the country exported confectionery products worth US$ 20 million to Australia and US$ 2.8 billion of baked goods to Canada in 2023. Thus, confectionery production businesses generate an immense demand for marzipan in the US. Additionally, the country is the largest producer of almonds in the world. According to the US Department of Agriculture, it contributed 78% to global almond production with 1.18 million tons of yield in 2023. The easy availability of the raw material contributes to the growth of the North America marzipan market in the US.

North America Marzipan Market Report Highlights

North America Marzipan Market Company Profiles

Some of the key players operating in the market include Andre Prost, Inc.; Barry Callebaut AG; British Bakels (RF Renshaw); Edde Almond Paste, Inc.; and Niederegger among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

North America Marzipan Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.
• Industry trade journals and other relevant publications.
• Government documents, statistical databases, and market reports.
• News articles, press releases, and webcasts specific to companies operating in the market.

Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

• Primary Research

Business Market Insights’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:

• Validate and refine findings from secondary research.
• Enhance the expertise and market understanding of the analysis team.
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

North America Marzipan Market Country and Regional Insights