The global bakery ingredients market is growing at a rapid pace and is anticipated to attain significant growth over the next seven years till 2023. Increasing demand for nutritional content in baked food, the movement to convenience foods from conventional home cooked food, changing lifestyle and rising popularity of eating healthy food is expected to fuel the growth of bakery ingredients market till 2023.
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Bakery Ingredients Market Overview:
Global Bakery Ingredients Market was valued at $7,772 million in 2016 and is projected to reach $11,225 million by 2023, growing at a CAGR of 5.4% from 2017 to 2023. Bakery ingredients are the food products responsible to maintain the freshness, softness, & taste; improve shelf life; and increase the protein content in the baked items. These items are available in different varieties in the market and are considered as the basic food for human nutrition globally. The choice of the ingredients and the compositions determine the flavor & texture of the finished baked food product. The major products, such as bread and biscuits, are growing at significant growth rates, thus, these are anticipated to provide high growth opportunities to the key industrial players throughout the forecast period. In the mature markets of North America and Europe, the bakery ingredients exhibiting health benefits and those containing lesser or negligible artificial constituents are growing at a higher rate. The artificial ingredients include benzoyl peroxide, calcium bromate, and harmful colorings.
The above figure denotes that U.S., Brazil, Japan, China, Mexico, Italy, France, Germany, Turkey, and the UK are the top ten countries of the world with the largest retail sales of bakery products. As most of the aforementioned countries belong to the European and LAMEA regions, the bakery ingredients market of these countries is expected to witness sluggish growth rate in the near future.
The global bakery ingredients market is driven by factors such as busy lifestyles and change in dietary habits that have resulted in higher consumption of bakery products. Moreover, change in culture and routines of people in the developing nations coupled with growth in demand for low trans-fat & gluten-free products supplement the market growth. In addition, a rapid rise in obesity rates and rise in fitness-related concerns have fueled the demand for healthy bakery food products. Conversely, the trend for replacement of baked products by cereals, such as oats, is expected to hamper the growth of the global market. Furthermore, stringent regulations and implementation of international quality standards hamper the market growth. However, the potential market for frozen bakery foods along with proactive efforts of key players to reduce production costs, & increase the shelf life of products are anticipated to provide lucrative opportunities for the market growth.
The report segments the global bakery ingredients market based on type, application, and geography. Based on the type, it is divided into enzymes, starch, fiber, colors, flavors, emulsifiers, antimicrobials, and others. On the basis of application, it is classified as bread, cookies & biscuits, rolls & pies, cakes & pastries, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The fiber type is the most lucrative segment of the global bakery ingredients market, exhibiting the highest potential for investment due to rise in their demand and increase in awareness related to health benefits. The Asia-Pacific fiber market registered the highest growth rate in the global market, followed by North America.
Global Bakery Ingredients Market, by Geography
The Europe region dominated the global bakery ingredient market, registering a CAGR of around 5.1% during the forecast period. Asia-Pacific accounts for the highest growth rate along with the significant share in the overall global market. North America witnessed the second highest growth rate as well as market share in 2016, owing to rapid consumption of bakery products in the region.
The key leading players operating in the global bakery ingredients industry include Cargill Incorporated, Koninklijke DSM N.V., Associated British Foods plc., Kerry Group, DuPont, Lesaffre, Muntons plc., LALLEMAND Inc., Bakels, and Dawn Food Products, Inc.
The other players in the value chain include Sdzucker, Taura Natural Ingredients Ltd., AAK AB, Tate & Lyle, Corbion, IFFCO Corporate, CSM Bakery Solutions, Novozymes, Puratos Group, Archer Daniels Midland Company, and Ingredion Group.
- This report provides an extensive analysis of the current trends, emerging estimations, and dynamics of the global bakery ingredients market from 2017 to 2023.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided in the report.
- Detailed analysis of the industry, based on the type and application, helps understand the trending product type and potential applications.
- Porters five forces analysis highlights the potency of buyers & suppliers to enable the stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top players within the market framework.
- Browse the full report at http://www.credenceresearch.com/report/bakery-ingredients-market
Bakery Ingredients Market Key Segments:
- Cookies & Biscuits
- Rolls & Pies
- Cakes & Pastries
- North America
- The U.S.
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA
- Top of Form
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