Global Bakery Ingredients Market Overview
The key driver impacting the bakery ingredients market is the rising consumption and production of bakery products and confectionery. For instance, in South Africa, the average consumption is three slices (100g) of bread each day as per the food advisory consumer services. It is the second most crucial staple foodstuff after maize meal. Thus, in many households, bread is considered the staple food, and its daily consumption will be much higher. Bread and bakery products are extensively consumed as part of conventional diets, and are “an essential source of dietary energy, leading to its high demand across the globe. Also, emerging nations like India have shown a considerable increase in the production of bakery goods. In India, total bread production is expected to be 3.75 million tonnes per annum, and it is growing at a rate of around 6%. The organized sector is likely to grow at a little higher rate, about 8%, as per the Engineer India Research Institute. Moreover, the growing consumer preference for healthier bakery products, such as demand for low trans-fat & gluten-free products, contributes to bakery ingredients market growth in the coming years. Whereas with regards to volume, the market was calculated XX Kilo Tons in 2020 and foreseen to grow with a CAGR of XX% during 2021-2027.
According to Value Market Research, the global Bakery Ingredients market size was valued at around USD 14000 million in 2020 and is estimated to grow at a CAGR of about 5.75% during the forecast period 2021 to 2027.
The rising demand for convenience foods due to busy lifestyles and changing dietary habits is likely to augment the demand in the forecast period. There is a huge demand due to their benefits, such as reduced preparation time to a considerable extent, no storing, buying, or planning of ingredients. Also, it involves faster presentation and easy cleaning up, thus saves time. However, stringent regulations and international quality standards may hamper the market in the long run. Also, the health issues due to excess consumption of trans-fatty acids negatively impact the market. The current industry trends, such as the growing trend of veganism and vegetarianism among consumers and the ever-increasing frozen bakery products market, are expected to offer new lucrative market opportunities for the key players.
The Bakery ingredients market is vast, with many local and global players. The Bakery ingredients market is extensive, with many regional and international players. The important market leaders follow several strategies to raise their market status, such as extending product portfolio, acquisitions, expanding product portfolio, contracts, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe. The significant players studied in the report include Associated British Foods Plc, Archer-Daniels-Midland Company, Ingredion Incorporated, Cargill Incorporated, E. I. Du Pont De Nemours and Company, Kerry Group, Plc., Dawn Food Products, Inc., Koninklijke DSM N.V., Bakels Group, and Lallemand Inc, Sdzucker, Taura Natural Ingredients Ltd., Tate & Lyle PLC, AAK AB, Corbion N.V., CSM Bakery Solutions, IFFCO Corporate, Puratos Group, and Novozymes.
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In this research report, the bakery ingredients market is segmented by type, application, and region.
Analysis by Type:
By Type, the report is categorized into emulsifiers, enzymes, starch, fiber, oils, fats, and shortenings, baking powder and mixes, preservatives, colors & flavors, leavening agents, and others. The baking powder and mixes segment dominates the type segment with over 30% in the forecast period. It is due to its massive demand for making baking goods as it is the essential ingredient baking, which raises the volume and lightens the texture of baked goods. Moreover, increasing demand for bread, cakes, waffles, pizza dough, biscuits, and muffins contribute to baking powder segment growth in the forecast period.
Analysis by Application:
By application, the report is categorized into Bread and Sweet Bakery. The Bread segment dominates the application segment with over 40% share in 2020. It is because bread is the oldest essential food product consumed by human beings, and it is widely consumed as part of conventional diets. Moreover, it is a significant source of dietary energy, and it contains carbohydrates, protein, and Vitamin B and E, which leads to its high consumptions across the globe.
Analysis by Region:
In the regional outlook of the global Bakery ingredients market, the Europe region dominates globally with a 36% market share in the forecast period. It is due to the population of the European region majorly consuming wraps, pocket sandwiches, and rolls owing to their hectic and busy lifestyle. Moreover, the development of new packaging materials and augmented product diversification in the baked food category would encourage the high demand for bakery ingredients in this region, thus contributing to tremendous market growth across Europe.
Market Segmentation covered in the Report:
By Type
- Emulsifiers
- Enzymes
- Starch
- Fiber
- Oils, ats, and Shortenings
- Baking Powder and Mixes
- Preservatives
- Colors & Flavors
- Leavening Agents
- Others
By Application
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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