As per the latest report by IMARC Group, titled “Bakery Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global bakery ingredients market size reached US$ 14.3 Billion in 2019. Bakery ingredients include fats, colors, blends, flavors, emulsifiers and shortenings. They are employed in the preparation of bakery and confectionery products such as bread, cakes, cookies, tarts, pies, pastries, donuts and pizza. They help in improving the shelf life, maintaining the taste and freshness, enhancing the nutrition level and increasing the protein content of baked products. Bakery ingredients are widely utilized in the food processing industry as they are readily available.
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On account of rapid urbanization, hectic schedules and altering dietary patterns, there is a rise in the demand for ready-to-eat (RTE) food products. Moreover, the increasing obesity levels have resulted in growing health awareness among consumers. As a result, they are shifting toward low trans-fat, gluten-free and other healthy variants of bakery products. Furthermore, owing to the burgeoning tourism and hospitality sector, there is a rise in the demand for bakery ingredients, emerging from bakeries, hotels and fast-food chains. Apart from this, the growing trend of social gatherings like corporate parties is also spurring the demand for cakes, muffins and pastries around the world. Other growth-inducing factors include the utilization of attractive packaging and the introduction of various product innovations, such as emulsifiers that offer high-fat stability and longer shelf-life to bakery and confectionery products. Looking forward, the bakery ingredients market value is projected to reach US$ 18.3 Billion by 2025, expanding at a CAGR of 4.2% during 2020-2025.
Market Breakup by Product Type:
- Leavening Agents
- Baking powder and mixes
- Fats and Shortenings
- Colors and Flavors
Amongst these, baking powder and mixes represent the most preferred product.
Market Breakup by Application:
- Cookies and Biscuits
- Rolls and Pies
- Cakes and Pastries
At present, bread accounts for the majority of the total market share.
Market Breakup by End-User:
- Food Services
Market Region Summary:
Region-wise, Europe represents the largest market. Other segments include North America, Asia Pacific, Latin America, and Middle East and Africa.
The competitive landscape of the market has been examined with some of the key players being:
- Koninklijke DSM N.V.
- Kerry Group Plc
- Südzucker AG
- AAK AB (publ)
- Associated British Foods Plc
- Lesaffre & CIE
- Tate & Lyle Plc
- Archer Daniels Midland Company
- Ingredion Incorporated
- Corbion NV
- IFFCO Ingredients Solution
- Taura Natural Ingredients Limited
- Dawn Food Products Inc.
- Muntons Plc
- British Bakels Limited
- Lallemand Inc.
- Novozymes A/S
- Puratos Group
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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