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.
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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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