Bakery Ingredients Market By Type (Emulsifiers, Leavening Agents, Enzymes, Baking Powder & Mixes, Oils, and Others), By Application (Biscuits & Cookies, Cakes & Pastries, Coating Batters, and Others), and Region - Global Forecast 2028
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- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global bakery ingredients market is estimated to value of over US$ 6.8 Bn in 2019, and is projected to register a CAGR of 5.6% in terms of value during forecast period 2019–2028. The report offers in-depth insights, revenue details, and other vital information regarding the global bakery ingredients market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2028. The global bakery ingredients market is segmented on the basis of type, application, and region.
Global Bakery Ingredients Market: Introduction
Bakery ingredients are used to maintain softness, freshness, taste, and increase protein content in baked items and improve shelf life. These are considered as basic food ingredients for human nutrition and are available in multiple varieties in market. Bakery ingredients usually used are baking powder, baking soda, flour, butter, nuts, honey, eggs, fruits, yeasts, flavor enhancers, and color additives.
Global Bakery Ingredients Market: Dynamics
Increasing number of in-store bakeries, coupled with rising demand for fresh bakery products such as muffins, pancakes, crumpets, buns, rolls, scones, teacakes, croissants, bagels, etc. Demand for bakery ingredients in a range of end-use applications has been increasing at a significant rate, and some end-use applications include fast food restaurants and franchises, to name a few. In addition, growing awareness regarding health and wellness among an increasing number of consumers, and rapidly trending health-oriented regime is expected to fuel growth of the target market to significant extent over the forecast period.
Moreover, hectic lifestyle of individuals coupled with increasing demand for ready-to-eat food items, heat-and-eat, and frozen bakery products across the globe is expected to drive demand for bakery ingredients. Furthermore, increasing demand for cakes, pastries, and other bakery products during festive seasons and special occasions, especially in developed countries is expected to fuel growth of the target market to significant extent over the forecast period.
Increasing westernization trend and changing eating habits leading to high demand for bakery products and ready-to-eat food in developing countries can create revenue opportunities for existing as well as new entrants in the global market. Therefore, strategic collaborations of bakery ingredients manufacturers with bakery product manufacturers are projected to create lucrative opportunities for players in the global market.
However, bakery product recalls have a negative impact on growth of bakery ingredients market as they are widely used in bakery products. In addition, regulations and statutes regarding use of flavors and additives are relatively stringent which is expected to restrain revenue growth of target market over the forecast period. For instance, the European Union’s REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) and CLP (Classification, Labelling and Packaging) have issued regulations regarding bakery ingredients in order to harmonize the classification and labeling of substances and mixtures for safety assessments on human health, including workers, and the environment
Analysis by Type:
On the basis of type segmentation, the baking powder & mixes segment is expected to contribute major revenue share to the global market and is expected to maintain its dominance over the forecast period. The baking powder & mixes segment witnesses a CAGR over 6.3%. Increasing adoption of bakery ingredients, owing to its advantages such as flavors, high protein bakery products with low fat, no trans fats, and others are major factors expected drive revenue growth of the type segment over the forecast period.
Analysis by Application:
Among all the application segments, the biscuits & cookies segment accounts for highest share in terms of revenue in the global market. Adoption of bakery ingredients is increasing in biscuits & cookies owing to various advantages, growing awareness among consumers, changing lifestyle pattern, and others. These are major factors expected to drive revenue growth of the biscuits & cookies segment over the forecast period.
Analysis by Region:
The market in Europe is expected to witness highest growth in terms of revenue during the forecast period. Increasing popularity of premium bakery products such as low-fat, low-calorie, sugar-free, mineral and vitamin-fortified breads and cakes, resulting in demand for emulsifier ingredients. For instance, in September 2018, Warburtons – UK’s largest bakery brand – launched new Toastie made with sourdough that includes pockets, half loaf, white bread, and wholemeal with distinctive flavors for its customers in the UK. Moreover, well-established bakery products market, strong distribution channel, and wide range of products, coupled with increasing preference for bakery products during festivals and special occasions is expected to drive growth of the bakery ingredients market in Europe. Increasing focus on availability of bakery ingredients on E-commerce websites by manufactures, owing to growing preference and shift by consumers to purchase products online are among some other factors expected to fuel growth of the Europe market.
The North America market accounted for considerable share in terms of revenue in the global market. Changing lifestyle patterns coupled with rising preference for fast foods and other bakery food products among consumers, especially among the younger members of society, which in turn increase demand for bakery ingredients in households, restaurants, and other fast food suppliers and outlets. These are among some major factors expected to drive growth of the North America bakery ingredients market to a significant extent. Moreover, rising demand for high protein bakery products with low fat, no trans fats is another factor further expected to fuel growth of the North America bakery ingredients market over the forecast period.
Rapid urbanization and hectic work culture resulting into changing food consumption patterns and rising preference for ready-to-eat, heat-and-eat meals and products, and fast foods is expected to drive growth of the market over the forecast period. Rising demand for artisanal cakes, fondant cakes, cheesecakes and other bakery products among consumers in India, coupled with easy availability of bakery products, increasing numbers of cake and snack shops, outlets, and food courts, supermarkets, hypermarkets, etc. For instance, in July 2018, Grupo Bimbo S.A.B. de C.V., which is a Mexico-based company, acquired Mankattan Group – one of the major players in the baking industry in China that produces and supplies sliced bread, cakes, buns and Yudane, and other baked products. This acquisition will aid in expanding the company’s product portfolio and to cater to demand from customers in China.
The market in Latin America register a CAGR of over 5.0% in the global market over the forecast period. Growing demand for Latin-inspired flavored products such as Hispanic cakes and desserts among consumers in countries in the region is expected to create opportunities for bakery ingredients manufacturers in the country, and in turn is expected to drive revenue growth of the Latin America bakery ingredients market over the forecast period.
Global bakery ingredients market segmentation:
Segmentation on the basis of type:
- Leavening Agents
- Baking Powder & mixes
- Oils, Fats, and Shortenings
- Colors & Flavors
Segmentation on the basis of application:
- Biscuits & Cookies
- Cakes & Pastries
- Coating Batters
Segmentation on the basis of region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- AAK AB
- Kerry Group plc
- LALLEMAND Inc.
- Lesaffre et Compagnie, SA
- Cargill, Incorporated
- Archer Daniels Midland Company
- Royal DSM N.V.
- Associated British Foods plc
- Tate & Lyle PLC
- DowDuPont Inc. (The Dow Chemical Company, E.I. du Pont de Nemours and Company)
- 1 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2 Chapter 2
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Type
- 2.2.2 Market Snapshot, By Application
- 2.2.3 Market Snapshot, By Region
- 2.2.4 Prudour Opportunity Map Analysis
- 2.1 Report Description
- 3 Chapter 3
- 1 Chapter 1
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