Jimmies Market Value And Growth Analysis-2023

By Author: bhargav
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The Jimmies Market was valued at $1.61 billion in 2022 and is estimated to reach $2.48 billion by 2028, with a CAGR of 7.50% from 2023 to 2028.
Gummies are also referred to as sprinkles in many locations, including Philadelphia, Boston, and the New England regions. These are miniature sweet treats. Jimmies are primarily used for decorative purposes. These are added to things like doughnuts, ice cream, and brownies. Jimmies improve their flavor, texture, and taste. Jimmies are produced in a variety of hues and flavors. various are utilized as a garnish on top of various foods. Jimmies are made with premium chocolates. It has a bit of a gritty texture. It tastes more strongly of chocolate. The most common form of jimmies is tiny chocolate nibbles in the form of rods. They are employed as decorators. In order to reflect the seasonal motif, they are often utilized on party favors and snacks during the holidays
Market Drivers and Restraints:
The global jimmies market is driven by the diversity in consumption habits. the quick globalization and interconnectedness of the primary consumers in the country in terms ...
... of tastes and preferences. The prevalence and growth of social media platforms, as well as the rise in user usage, have an impact on users' preferences in food and behavior. The rise in demand for goods with value-added has made it simpler to find jimmies and other decorations. These jimmies are frequently used as ornaments. When utilized as decorations, these jimmies draw attention and persuade users of social media to buy the things. As a result, there is an increase in demand for jimmies. This has the effect of stimulating market expansion.
One of the key elements fueling the growth of distribution channels around the world is the need for jimmies. The expansion of technology innovation fuels growth in online retail sales. Jimmies' expanding distribution options contribute to the market's expansion. There are a variety of distribution methods, including specialty stores, hypermarkets, and online retailers. The number of distribution channels has increased as a result of shops' increased efforts to sell more jimmies. The jimmies market is driven by this. The creation of low-calorie items also contributes to the market's growth. The market is also driven by an increase in demand from various economies. These are what propel the worldwide jimmies market forward.
The primary barrier to the expansion of the worldwide jimmies industry is the rise in health consciousness among the populace. Because consumers changed their behavior as a result of being more aware of the harmful effects of consuming sugar in large quantities, the market growth was reduced. Furthermore, all distribution channels, including online and physical ones, have readily available alternatives to the same products. Therefore, market expansion is constrained. Because more people are consuming these unhealthy foods, there is a decrease in the market's growth due to the rise in obesity rates in the population. For instance, the National Library of Medicine reports that the popularity of fast food is rising quickly due to its accessibility, price, variety of menu items, flavor, and taste. Between 30 and 50 percent of kids and college students frequently consume fast food. Additionally, more than 33% of adults and 17% of youths and adolescents in the US are obese.The market demand for jimmies is further hampered by the fluctuating cost of the raw ingredients used to make them, such as sugar, starch, premium chocolates, etc. Additionally, the possibility that businesses may use prohibited dyes in the production of sprinkles has caused consumers to become fearful. For instance, according to Wion news, Get Baked's raspberry glazed doughnut cookies were withdrawn in October 2021 because they contained an unauthorized food coloring. Jimmies' sales fell as a result of this. These are the issues preventing growth.
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The report is segmented as follows:
The Jimmies Market is segmented by Type; the Market is segmented by Application:
By Colorant (Natural, Artificial)
By Application (Cereals and Snack Bars, Ice-Cream and Frozen Desserts, Chocolate and Confectionery Products, Cakes and Pastries, Other Bakery Applications)
By End-User (Food Manufacturers, Foodservice Industry, Home Bakers)
Regional Segmentation:
Global market shares for jimmies are dominated by North America. Over the course of the projection period, the North American region is anticipated to dominate the market. The growth in demand from the catering and manufacturing industries is to blame for this. Additionally, cooks are increasingly conscious of the embellishments and aesthetic elements that can draw customers by improving the presentation of the food. Due to a rise in the demand for ice cream for ornamental purposes and bakery goods from the confectionery industry, North America currently controls the majority of the market. Additionally, the rise in snack consumption fuels category expansion. Because of the increase in local revenue and economic development, consumers are encouraged to choose aesthetically pleasant and decorative food products.
Over the course of the projection period, the European region is anticipated to experience tremendous growth. The increased demand for food services is to blame for this. Segment growth is fueled by rising bakery and ice cream consumption. Over the projection period, the Asia Pacific region is anticipated to experience the quickest CAGR growth. This is brought on by a rise in global cuisine and unusual flavor combinations. Segment growth is also fueled by the rising demand for bakery goods and related items that need to be decorated.
Impact of the COVID-19 pandemic on the market:
The COVID-19 has an effect on several businesses. COVID-19 issued the lockdown and travel restrictions. As a result, production fell, which in turn led to numerous factories closing. The global jimmies market was significantly impacted by the ensuing drop in jimmies production. Due to COVID-19, many companies, including retail establishments and internet firms, had to shut down. Thus, during the epidemic, there was less effective supply management and disruption in various distribution networks. Sales of jimmies were impacted by the supply chain management disturbance brought on by the lockdown and limitations. Additionally, the businesses had to close early on in COVID-19 due to regulations, which decreased demand for jimmies. Additionally, people's attention was directed toward living a healthy lifestyle during COVID-19, which resulted in a decline in the consumption of foods like ice cream, donuts, croissants, etc. As a result, there was less of a demand for jimmies. Therefore, COVID-19 had a detrimental effect on the worldwide jimmies market.
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Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs.