|Study Period:||2016 -2027|
|Fastest Growing Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The global bakery ingredients market is projected to register a CAGR of 6.12% during the forecast period, (2022-2027).
COVID-19 has resulted in a devastating impact on the bakery ingredients market in two main ways: by directly affecting production and demand, and by creating supply chain and market disruption. The pandemic has affected bakery players in different ways. With foodservice representing as much as a huge dig of their sales, frozen bakery players have seen reduced orders as food consumption changes from restaurants to home kitchens. The post-pandemic consumer will likely demand new and better options. In this scenario, improved nutrition is expected to gain consumer and government attention as a way of preventing diseases and boosting immunity providing an opportunity for companies to focus on innovation. Such factors create ample room to rebalance the bakery ingredients industry even in the face of persistent COVID-19 restrictions.
Over the medium term, the rising demand for convenience food and consumer preference for attractive, tasty & textured delicacies, easy accessibility, and lower price are expected to increase the demand for demand for bakery ingredients. Evolving retail landscape of retail bakery products has been one of the crucial factors for the expansion of the market over the last few years. The market witnessed a high consumption rate in the categories of cakes, pastries, pies, scones, bread, biscuits, and cereals in the developed markets of North America and Western Europe.
The trend of developing healthy alternatives is possible owing to the provision of adding fibre. Also, the enhancement of the nutritional level in bakery products has gained momentum. The incorporation of functional ingredients, such as omega-3, multigrain, probiotics, multivitamins, and phytosterols in bakery products, adds additional nutritional value. However, stringent regulations and international quality standards are expected to slow down the growth of the market.
Scope of the Report
The ingredients used in baking and making bakery products are called bakery ingredients. A few of them are flour, baking soda, baking powder, shortening (fats, oils), eggs, milk, and sugars. The global bakery ingredients market is segmented by type into emulsifiers, enzymes, leavening agents, fats and shortenings, sweeteners, colors and flavors, baking mixes, preservatives, baking soda, and others. By application into breads, cakes and pastries, rolls and pies, cookies and biscuits, and others. By geography, the scope includes North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. The report offers market size and forecasts in value (USD million) for the above segments.
|By Ingredients Type|
|Fats and Shortenings|
|Colors and Flavors|
|Cakes and Pastries|
|Rolls and Pies|
|Cookies and Biscuits|
Key Market Trends
Growing Demand for Ready-to-Eat Bakery
The growing demand for ready-to-eat food is expected to boost the bakery ingredients market. The shift from conventional home-cooked food to convenience foods has also increased the demand for these bakery ingredients in the emerging markets. Adoption of westernized lifestyle, double-income families, emphasis on healthier lifestyles, greater nutrition awareness, and increase in disposable income are the major factors that are responsible for the growth in the baked foods industry, which, in turn, will drive the demand for the bakery ingredients manufacturers. Also, growing consumer demand for nutritional content in baked foods with low sugar, whole grain, and zero trans-fat per serving is increasing the demand for bakery food,
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Europe Holds the Major Share In Market
Europe is the biggest market for bakery ingredients, followed by North America. However, these are matured markets, in regards to bakery ingredients. Asia-Pacific is the maximum growing segment, owing to the enhanced demand for bakery products and changing lifestyles. In North America, the United States and Mexico, with an increasing number of fast-food chains, extensive use of baked foods, and the use of bakery ingredients, are expected to develop. Germany is the major revenue-generating market in Europe. India and China, with their increasing population and disposable incomes, are projected to be the fastest-growing markets, globally, during the forecast period.
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The leading market players have been using strategies, such as expansions and new product launches, to increase their global presence and their productivity. Innovations in food ingredients by consumer preferences also meet the company objectives of reducing costs. Several companies find it important to meet the local regulatory requirements, apart from meeting their standard safety and quality criteria. The leading players in the bakery ingredients market are - Associated British Foods, Cargill Inc, DSM, DuPont, and Kerry Group, among others.
- In January 2021, Cargill announced that it has opened its first innovation centre in India to develop solutions for the food and beverage market. This innovation centre is spread over almost 17,000 square feet, includes a sensory lab and demonstration kitchen, with capabilities to serve dairy, beverage, bakery, and convenience food industries.
- In February 202, DuPont launched DuPont POWERBake 6000 and 7000 enzyme series especially developed for European recipes. The company claims that these enzymes can be used in improver houses and bakeries which offer unique emulsification solution that preserves the taste and quality of white breads and buns while meeting customer demands for increasingly clean labels.
- In October 2021, Cargill launched a soluble rice flour, SimPure 92260, that exhibits similar taste, texture and functionality as maltodextrin, which is an ingredient commonly used as a bulking agent and flavor carrier. This ingredient carries similar qualities of maltodextrin and can be used in various applications including bakery.
Table of Contents
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Ingredients Type
5.1.1 Baking Enzymes
5.1.2 Leavening Agents
5.1.3 Fats and Shortenings
5.1.5 Colors and Flavors
5.2 By Application
5.2.2 Cakes and Pastries
5.2.3 Rolls and Pies
5.2.4 Cookies and Biscuits
5.3.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 Rest of Asia-Pacific
5.3.4 South America
22.214.171.124 Rest of South America
5.3.5 Middle-East and Africa
126.96.36.199 United Arab Emirates
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Cargill Inc.
6.4.2 Archer Daniels Midland Company
6.4.3 Corbion N.V
6.4.4 Kerry Group
6.4.5 Südzucker AG
6.4.7 Tate & Lyle PLC
6.4.8 Ingredion Inc
6.4.9 IFFCO Ingredients Solution
6.4.10 Koninklijke DSM N.V
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Bakery Ingredients Market market is studied from 2016 - 2027.
What is the growth rate of Bakery Ingredients Market?
The Bakery Ingredients Market is growing at a CAGR of 6.12% over the next 5 years.
Which region has highest growth rate in Bakery Ingredients Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Bakery Ingredients Market?
Europe holds highest share in 2021.
Who are the key players in Bakery Ingredients Market?
Associated British Foods, Cargill Inc, Koninklijke DSM N.V, DuPont, Kerry Group are the major companies operating in Bakery Ingredients Market.