New Jersey, NJ, Sept. 12, 2019 (GLOBE NEWSWIRE) -- Increased consumption of bakery products due to busy lifestyle, change in culture and change in dietary habits and rise in demand for low trans-fat & gluten-free products are two major factors affecting the growth of the market. The global bakery ingredients market is expected to reach USD 65.7 Billion by 2025 at a CAGR of 6.7% during the forecast period from 2018-2025, according to the new report published by Fior Markets.
Bakery ingredients are defined as those ingredients which are utilized in the bakery industry for various qualitative purposes. These ingredients are used for the development and manufacturing of sustainable bakery products across the world. Bakery ingredients, such as emulsifiers, fats and conditioners, provide bakery products with longer shelf life and improved overall quality. Enzymes are one of the most extensively used bakery ingredients worldwide as they possess properties like texture improving and taste modifying. For instance, in June 2017 – DSM N.V. introduced a new range of Bakery enzymes that enabled bakeries to deliver a better experience for gluten-free bread and other kinds of wheat-free applications. The enzymes are developed to improve the moistness and softness of the bakery products.
High consumption of bakery products due to busy lifestyle, change in culture and change in dietary habits are the factors fuelling the growth of the market. However, strict regulations and international quality standards may obstruct the growth of the market. Nevertheless, a rise in demand for low trans-fat & gluten-free products is expected to boost the market in forthcoming years.
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Key players operating in the global Bakery Ingredients market include Archer Daniels Midland Company; Associated British Foods plc.; Bakels Group; Cargill, Incorporated; Dawn Food Products Inc.; E. I. du Pont de Nemours and Company; Ingredion Incorporated; Kerry Group plc; Koninklijke DSM N.V.; and Lallemand Inc., Sdzucker, Taura Natural Ingredients Ltd., AAK AB, Tate & Lyle PLC, Corbion N.V., IFFCO Corporate, CSM Bakery Solutions, Novozymes, and Puratos Group. To enhance their market position in the global Bakery Ingredients market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in June 2019, Associated British Foods plc and Yihai Kerry Arawana Holdings Co., Ltd, a subsidiary of Wilmar International Limited, have executed a binding term sheet setting out their intention to form a 50:50 joint venture in China for the manufacture, sale and distribution of yeast and bakery ingredients. The joint venture will acquire existing Chinese yeast and bakery ingredients activities of AB Mauri, a division of ABF, and will leverage Yihai Kerry Arawana’s supply chain, extensive sales and distribution network and local market expertise in China. The joint venture will also build and operate a new yeast plant co-located with Wilmar’s food processing plant in the Taha industrial zone in Qiqihar City, China, significantly increasing capacity.
- In August, 2017, ADM Milling, part of Archer Daniels Midland Company, extended its portfolio of flours and bakery ingredients with the launch of its new multiseed concentrate with ancient grains in the U.K. A premium quality bread mix blended from wheat flour and a variety of seeds and ancient grains, the new multiseed mix can be combined with wholemeal, white or malted flours to help bakers diversify their portfolio in line with the latest consumer trends.
The bakery powder & mixes segment dominated the market with the highest share of 27.80% in 2017
The type segment is classified into emulsifiers, leavening agents, enzymes, bakery powders & mixes, oil, fats & shortenings, starch colors & flavors and others. The bakery powder & mixes segment dominated the market and valued around USD 10.89 Billion in 2017. Baking powder and mixes are used to make bread, cakes, waffles, muffins, and pizza crusts. The expansion of bakeries and outlets such as in-store bakeries; convenience stores; supermarket & hypermarket bakeries; artisan bakeries; and café bakeries, especially in the emerging countries such as China, are expected to be the key market drivers for the Bakery ingredients market in the coming years.
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Bread segment dominated the market and valued around USD 16.26 Billion in 2017
The application segment is segmented into bread, biscuits & cookies, cakes & pastries, rolls & pies and others. Bread segment dominated the market with the highest share of 41.50% in 2017 owing to increased consumption of low sugar and low carbohydrates bakery products.
Regional Segment Analysis of the Bakery Ingredients Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific region dominated the global bakery ingredients market with USD 17.44 Billion in 2017 whereas the North America region is growing rapidly in the market. The Asia Pacific is dominating the market due to the growing demand for packaged and convenience foods in this region. China is projected to dominate the region due to the adoption of western diets, especially among the younger population. The North America region is anticipated to grow rapidly due to high consumption of bakery products in this region.
About the report:
The global Bakery Ingredients market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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