Baking
ingredients are used in products such as buns, rolls & pies,
cakes & pastries, biscuits & cookies, and bread. Baking
ingredients are used in bakery items to improve the overall product
quality and enhance the shelf life of the product. A good quality
baking ingredient helps in retaining softness and taste of the baked
product.
Growing
Demand for Convenience & Packaged Foods to Drive the Market
Growth
Demand
for packaged and convenience food is on the rise, owing to
improvement in living standards, and economic conditions in
developing as well as developed economies. Growing need of leisure,
hectic lifestyles, and time constraints have led consumers towards
adoption of convenience and packaged foods. This has spurred demand
for bakery products including pastries, cakes, pizza, and bread,
thereby driving demand for baking
ingredients.
Surge
in away-from-home food expenditure has resulted into an increase in
number of retail outlets, convenience stores, coffee shops, in-store
bakeries, and artisan bakeries, which provide a variety of innovative
baked food products. Conventional home-cooked food is being replaced
by ready-to-eat baked food, especially in developed countries such as
North America and Europe, where individuals prefer pocket sandwiches,
rolls, and wraps over time consuming food owing to their busy
lifestyle. These factors might impact growth of the global baking
ingredients market.
Demand
for Organic Baking Ingredients - A Major Trend
With
an aim of helping end-users save time in cooking, several vendors in
the market have developed long-life pre-packaged food products,
bake-off products, freshly finished products, and ready-to-use
part-baked pre-packed bakery products such as donuts and tortillas.
Leading market players are making investments in different projects
via research and development, in a bid to develop innovative
products, and widen their consumer base. A major trend being observed
in the market is soaring demand for organic baking ingredients, which
is expected to gain higher traction in the near future. This can be
mainly attributed to growth in health-conscious population, and
rising awareness about benefits of organic baking ingredients such as
sweeteners, oils, and natural flavors. The global market for baking
ingredients is highly fragmented, with the presence of many small and
large vendors. Competing on factors including distribution, service,
reputation, innovation, price, and quality, vendors in the market are
focusing on service offerings and product differentiation for gaining
a competitive edge.
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Persistence
Market Research (PMR), in its new study, has estimated a steady
expansion for the global baking ingredients market during the
forecast period 2017 to 2022. The market is expected to exceed
revenues worth US$ 16,000 Mn by 2022-end.
Emulsifiers
to Remain Sought-after among Products in the Market
Emulsifiers
are expected to remain sought-after among products in the global
baking ingredients market, with sales projected to surpass US$ 4,000
Mn in revenues by 2022-end. This is mainly because of several
positive influences related to emulsifiers in baking procedure such
as reduced production cost, enhanced fermentation activity, extended
shelf-life, and improvement in dough stability.
Biscuits
and cookies are expected to be the fastest growing application of
baking ingredients, accounting for over one-fourth share of the
market in 2017. Sales of biscuits & cookies are expected to
create an absolute $ opportunity of over US$ 1,000 Mn between 2017
and 2022. Sales of baking ingredients for application in bunds are
expected to exhibit the lowest CAGR through 2022.
North
America is expected to remain the most lucrative market for baking
ingredients, and is projected to witness the fastest expansion
through 2022. Increasing demand for packaged foods and convenience
foods, along with rising health-conscious population are factors
influencing growth of the market in North America.
Company
Profiles
PMR’s
report has mentioned key players in the global baking ingredients
market that include Archer Daniels Midland Company, Associated
British Foods Plc., Cargill Inc., E. I. du Pont de Nemours and Co.,
BASF SE, Kerry Group Plc., Ajinomoto Corporation Inc., Bakels, Dawn
Food Products, AngelYeast Co., Ltd., Döhler GmbH, Ingredion
Incorporated, Lonza Group AG, Chr. Hansen Holding A/S, and Lallemand
Inc.
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