Bakery Ingredients Market Trends, Growth, Size, Opportunity, Share and Forecast 2030
Bakery Ingredients Market Insight:
Emerging economies as well as developing countries around
the world like India, Brazil, and Argentina, are exhibiting augmented demand
for ready-to-eat products, for instance, bakery products and instant food
products. This subsequently proves to be profitable for the bakery ingredients
market. Nowadays, dining out has become part of a weekly routine, and not just
something you do on special occasions. In addition, the café culture,
especially in emerging economies is fast becoming more popular. The combination
of these factors is contributing massively to the growth of the bakery
ingredients market. Numerous manufacturers around the world are opting for
advanced bakery solutions, like enzymes and emulsifiers, in order to cater to
the increasing demand. This will give a significant push to the growth of the
market in the coming years.
As per the report furnished by Market Research Future
(MRFR), the global Bakery
Ingredients Market Share was valued at $12,960.0 million in 2021,
and is projected to reach at $22,592.8 million by 2030, growing at a CAGR of
5.9% from 2022 to 2030.
A large section of the modern population around the globe is
currently living a hectic life, thereby leaving most people with no time to
prepare meals. This indirectly results in the elevated demand for bakery
products at a global level, and subsequently bakery ingredients.
Apart from this, ready-to-eat bakery products are replacing
home-made meals among working-class consumers. This factor is compelling
manufacturers to come up with nutritious bakery products, according to the
latest trend of healthy foods. On that note, this particular preference for
ready-made products is also extending to the younger age group, contributing
substantially to the total global bakery product consumption. To sum it up, the
availability of innovative bakery products along with unique flavor options is
helping the bakery ingredients market to soar high globally.
Market Segmentation:
The Bakery Ingredients Market is segmented on the basis of
type and application.
The types of bakery ingredients are emulsifier, enzymes,
starch, baking powder and mixes, colors & flavors, oil, fats &
shortenings, and others. Among these, the baking powder and mixes segment
dominates the global market, with its growing use as a substitute for yeast in
the baking industry as its processing time is quite short. But it is the
segment of emulsifier and enzymes that is projected to grow the fastest over
the forecasted period.
Bakery ingredients find various applications in preparation
of cookies & biscuits, bread, rolls & pies, cakes & pastries, and
others. Here, the bread is the dominating segment on account of its easy
preparation and cost-effective aspect. However, the segment of rolls and pies
is set to experience substantial growth over the estimated period.
Regional Insight:
The global bakery ingredients market is spread across the
key regions of Europe, North America, Asia Pacific, and the rest of the world
(RoW).
Among all the regions, North America has secured the leading
position in the global market, with Europe tailing it as the second largest
market. However, Asia Pacific is on its way to be the fastest growing region
for Bakery
Ingredients Market Trends, with emerging markets such as India and
China being the major contributors.
Due to the busy work schedule of the majority of the
population in North America, wraps, rolls and pocket sandwiches have gained
immense popularity. This factor fosters the growth of bakery ingredients in the
region.
The Europe region consists of countries like the United
Kingdom (U.K), Germany, and France that contribute massively to the regional
bakery ingredients market.
On the other hand, rapid innovation in bakery industry
backed by product diversification is most likely to present numerous growth
opportunities to the bakery ingredients in the rest of the world.
Market Players:
Kerry Group PLC (Ireland), Tate & Lyle plc (U.K.),
Archer Daniels Midland Company (U.S.), DuPont Nutrition & Health (Denmark),
Cargill Incorporated (U.S.), Lallemand Inc. (Canada), Associated British Foods
PLC (U.K.), are some of the prominent companies competing in the bakery
ingredients market.
Recent Developments:
January 2019 – Plant-Based Innovator Renmatix has entered
into a partnership with Ingredient House with the intention of bringing about
better cost-effective baking ingredients to prominent U.S. bakers. The two
companies endeavor to replace eggs in baked goods with the incorporation of
Simple Cellulose, which is a plant-based ingredient. This product has various
benefits in emulsification, texturizing, moisture retention and fat
replacement, which are desirable traits to cater to today's healthy consumer
tastes.
Related Reports:
Dehydrated
Fruits & Vegetables Market Information By Type (Dehydrated Fruits
and Dehydrated Vegetables), By Application (Supermarket/Hypermarket, Specialty
Retailers, Convenience Stores, E-Commerce, and Others), and By Region (North
America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2030
Weinmarktforschungsbericht
nach Typ (Rotwein, Weißwein, Roséwein, Sekt und andere), Verpackungsart
(Flaschen und Dosen), Vertriebskanal (Gastronomie und Einzelhandel (Supermärkte
und Verbrauchermärkte, Fachgeschäfte und andere) und Region (Nordamerika,
Europa, Asien-Pazifik und Rest der World) - Prognose bis 2027
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