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The U.S. and Europe macarons market size was valued at USD 1.34 billion in 2021. The market is projected to grow from USD 1.41 billion in 2022 to USD 2.32 billion by 2029, exhibiting a CAGR of 7.31% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with macarons experiencing lower-than-anticipated demand across the U.S. and Europe compared to pre-pandemic levels. Based on our analysis, the market exhibited a decline of 21.55% in 2020 as compared to 2019.
The U.S. and Europe macarons market growth is promising due to increased customer demand for premium macarons products such as chocolate macarons, caramel macarons and others, enabling companies to broaden their product portfolios and update their technologies and packaging style. Hence, the market share in the food industry is expected to increase in the upcoming years owing to its growing consumption. Companies with years of experience and product knowledge focus on product line innovation to suit consumer demand for healthy products without compromising the product's taste and flavor.
Disruption in Supply Chain Affected Macarons Ingredients Suppliers and its Final Product Manufacturers
The COVID-19 pandemic outbreak caused a global standstill in various sectors, such as machinery, food and beverage, and chemical industries. This negatively impacted the economy due to the closure of several manufacturing facilities, supply volatility of raw materials, and shortage of workforce.
The virus outbreak has broadly affected customer purchasing behavior. In the initial stages of the pandemic, panic buying among customers led to increased sales and stockpiled food products and ingredients due to the lockdown. However, on the supply side, the manufacturing and end-user companies faced difficulties meeting the demands due to labor shortages, transportation disturbance, closure of manufacturing facilities, and disruptions in raw material procurements. Additionally, various companies recorded a decline in the sales of their products due to the pandemic.
For instance, in 2020, Laduree, a French manufacturer and retailer of pastries, macarons, and candies, reported a drop in their turnover during the COVID-19 pandemic from USD 96.45 million to USD 43.84 million.
Despite the market-facing several discrepancies, the consumers shifting preferences toward vegan macaron products and the recovery of logistics are anticipated to affect the market growth positively. Market players continuously focus on improvising their production and supply strategies to address this growing demand. Some companies are seeking the help of digitalization to perform efficiently in the market and to fulfill consumers' demands.
Product safety, product detail transparency, and hygiene concerns are anticipated to remain prominent among consumers. Market players can improve the market value and prominence and increase their sales by ensuring the abovementioned factors are fully taken care of along with raw material sourcing, product manufacturing, and packaging.
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Customization & Personalization is a Growing Trend in the Macaron Industry
Customized and personalized products have become a trendy strategy for the macarons market. Personalized products are a status symbol, making customers feel special and enabling them to stand out. While exclusive products have traditionally been expensive, rapid technological developments have made customized and personalized products more accessible. Moreover, the future growth trajectory for customized products is promising. Developing an extensive portfolio of personalized macarons products can generate great monetary outcomes as consumers willingly pay extra for products.
The rapidly changing media and consumer behavior have forced all businesses to rethink their marketing strategies and re-examine their communication channels. The advent of digital technology has unlocked new exciting avenues that can be effectively leveraged in the macarons market. Digital marketing includes using one or more digital channels such as social networks, email, and mobile devices as vehicles to talk about the value of goods and services to a specific audience.
Increasing Popularity of Ethnic Macaron Products to Boost the Market Growth
The demand for macarons is growing rapidly and becoming popular owing to their availability in various flavors and fillings. The factors driving the growth of macarons include escalating awareness about the products and services, availability of macarons in convenience stores and online channels, and the increasing number of specialty bakeries. The artisanal bakeries provide different flavors, textures, and colors to appeal to their hold. The rise in the homegrown and artisanal bakery industry drove the demand for macaron products in the past few years.
The tremendous growth in the tourism and hospitality sector has deepened the internationalization of various cuisines. These days customers are seeking various new and bold ethnic flavors. The gourmet cooking trend has broadened the availability of assorted macarons in the retail sector among younger customers.
The growing trend of experimenting with various flavors of macarons has contributed to popularizing these products among consumers, especially the millennials. Countries such as the U.S., the U.K., and others are observing a significant surge in various regional macarons demand as different ethnic groups from across the globe have migrated and settled in these countries, which gives a chance for cultural diversity, along with offering sweet, spicy, tangy, sensory, and bold flavor experience to the consumers. The supermarkets and retail stores in the U.S. and Canada are stacked with macarons representing different flavors from Asia, Europe, and other regions.
Growing Consumer Inclination Toward Clean-Label Brands Fuels the Market Growth
Transparency and minimal utilization of synthetic additives in food items are the two main parameters of today's consumers' interest in organic macarons and macarons made with specialty ingredients. Moreover, the clean-label trend in this market drives the attention of health-conscious consumers willing to pay a premium price for safe and certified food products.
To state an example, Hugo & Victor, a French pastries and confectioneries company, uses natural, additive-free, and organic ingredients in their macarons. The firm uses fruits and vegetable powders such as spinach to recreate the pistachio color and beets for red hues. The color of their products comes directly from 100% plant-based colorants. In addition, the small quantity of fruit and vegetable powder used does not affect the overall taste of the macarons.
The desire to avoid certain ingredients such as gluten, dairy, and animal products to be safe from food allergies has become more common among consumers in the U.S. and Europe. Vegan macarons are naturally gluten-free as they are made with plant-based flour. Consumers have become more health-conscious. These health trends drive companies to innovate as consumers choose products that follow the latest health trends.
Fluctuations in Raw Material Prices to Hinder the Demand for Macaron Products
The price volatility, particularly the price increase of raw materials that are frequently used, including almond flour, sugar, eggs, and others, is a major constraint to this market growth. Although major exporters of almonds and sugar, such as the U.S., Spain, Brazil, India, and others, have benefitted from the steep price hike brought on by unfavorable weather circumstances and production, the price hike directly impacted the product's final cost.
The production volume is expected to be affected by changes in the area under cultivation for raw materials, such as sugar and grains, which could change the retail price of the raw materials. Additionally, the product's sale will probably be hampered by the availability of substitute confectionery items. However, to boost their clientele, various macaron businesses are investing a substantial amount in product and brand promotion, which could aid in finding the solution to the problem.
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Fruit-flavored Macarons to Dominate as Consumers are Constantly Seeking New Experiences through Confectionery Products
Based on flavor, the market is segmented into fruit-flavored, chocolate, vanilla, pistachio, lemon, caramel, basic, and others. The fruit-flavored market segment holds a significant share in the Europe macarons market. The growing consumer inclination to try assorted fruit-flavored macarons such as pineapple, mandarin, green apple, blackcurrant, and other flavors opens several opportunities for manufacturers to infuse natural flavoring agents. Additionally, growing awareness among consumers about the harmful effects of synthetic flavors will aid in strengthening the growth of this market.
Specialty Stores to Witness Promising Growth Owing to the Variety of Specialized Product Offerings
Based on distribution channel, the market is segmented into specialty stores, online retail, supermarket/hypermarket, and others. The specialty stores segment is expected to hold the largest share of the market as it provides exceptional in-store shopping and offers numerous products of macarons under one roof, including various flavors, packaging, and others.
On the other hand, online retail segment holds a significant growth opportunity for manufacturers in this sector owing to increasing number of customers seeking easy shopping choices for everyday food and indulgence products. High convenience and doorstep delivery options are also expected to boost market growth.
Key Players Investing in Technological Developments to Fortify their Business Capabilities
Based on our market analysis, the U.S. and Europe macarons market exhibits a fragmented market with several corporations and Small and Medium-Sized Enterprises (SMEs) competing against each other to expand their business in the region. Some major manufacturers in the market include Ladurée Paris, Chantal Guillon, Dana's Bakery, Dalloyau, and others. The major macaron manufacturers are adopting new product development and market expansion in various countries to achieve market growth. Companies are also investing in the latest automated and digitization technology to improve their production process and research & development capabilities. Through these advanced technologies, the companies are also developing sustainable packaging for environmentally conscious consumers who favor using eco-friendly packaged products.
An Infographic Representation of US. and Europe Macarons Market
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The U.S. and Europe macarons market research report 2022 provides a detailed analysis of the market and focuses on key aspects such as competitive landscape, key insights, market dynamics, depth market analysis, terms of revenue, and market forecast. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors contributing to the market's growth in recent years.
Value (USD Billion)
By Distribution Channel
U.S. (By Flavor, Distribution Channel)
Europe (By Flavor, Distribution Channel, and Country)
Fortune Business Insights says that the market size was at USD 1.34 billion in 2021 and is projected to reach USD 2.32 billion by 2029.
The market is projected to grow at a CAGR of 7.31% during the forecast period (2022-2029).
Fruit-flavored is expected to be the leading flavor segment in the Europe market.
The demand for macarons is becoming increasingly popular owing to their availability in various flavors and fillings.
Laduree Paris, Chantal Guillon, Danas Bakery, and Tipiak are a few of the top players in the market.
Chocolate flavor is expected to be the fastest-growing segment during the forecast period.
Changing raw material prices are expected to hamper the market growth.
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