The bakery ingredients market has been witnessing significant growth in the recent years. The rising demand for ready-to-eat food is expected to boost the bakery ingredients markets during the forecast period. It has been observed that the market for bakery ingredients is expanding significantly, due to consumers’ food preference and changing lifestyle. Also, it is observed that consumers prefer to prepare meal in a short time. The market is estimated to witness steady growth during the forecast period. Recently, consumers have been preferring healthy bakery products with good taste, use of quality ingredients, and availability at convenience.
Companies are investing in different projects through research and development to innovate new products and attract large sections of population to increase the company’s profitability. Among product innovations, it has been seen that time-saving products and healthy food products are being given prior importance. Time-saving products are gaining importance as they attract a large section of busy population. This boosts the global bakery ingredients market. A lot of research has been done to focus on dietary fibers, which are added in several food products to stabilize fat from the food. It helps impart water-holding capacity, oil-holding capacity, and gel formation to food products. Speedy urbanization, changing lifestyle, and inclination toward good brands have been driving the bakery ingredients market in recent years. There exists increasing demand among consumers for nutritional content in baked foods with essential grain, low sugar, and zero trans-fat per serving. Growing obesity rates coupled with rising aging population is influencing the usage of healthy ingredients in the U.S. on a national front. The inclination toward convenience food rather than conventional home-cooked food also drives the global market for bakery ingredients. Emphasis on healthier lifestyle, increasing awareness about nutrition, and rising disposable income are primary factors that influence the growth of the bakery ingredients market, especially in emerging economies.
On the basis of types of bakery ingredients, the market has been segmented into emulsifiers, enzymes, colors & flavors, preservatives, fats & shortenings, leavening agents, and others. On the basis of applications, the global bakery ingredients market has been segmented into cookies, biscuits, bread, cakes & pastries, rolls & pies, and other baked products. Several companies are showing interest in entering this market to meet consumers’ demand and appreciate their preference of bakery ingredients.
In the region wise study, the global bakery ingredients market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific witnesses speedy growth, due to emerging economies such as China and India. Consciousness toward healthy food is expected to fuel the global bakery ingredients market during the forecast period. Western Europe is showing a significant market share over the years. The market share held by Western Europe is high, primarily due to the rise in demand for ready-to-eat food products. Brazil has experienced impressive growth of the bakery ingredients market, followed by Latin America in recent years. Speedy urbanization in developed and developing countries is also resulting in growth of the global bakery ingredients market. Demand for baked food from developed as well as developing countries generates opportunities for the bakery ingredients market during the forecast period.
Key players have been using strategies, such as new product development and expansions to enhance their global presence and raise their productivity. Major participants in the global bakery ingredients market include Cargill Inc., Kerry group, DSM, Associated British Foods, and DuPont.
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