NEWARK, Del, Aug. 30, 2022 (GLOBE NEWSWIRE) -- The global cake enzyme market is expected to create an absolute dollar opportunity over the forecast period from 2022 to 2032 showcasing growth at a healthy CAGR of 5.2%. The market is estimated to reach US$ 367.0 Million in 2022 and surpass around US$ 609.3 Million by 2032. The growing demand for bakery and confectionery products in the food & beverage industry is expected to augment growth in the cake enzyme market.
Cake incorporates high levels of fat, and sugar and is frozen which is responsible for decreasing stalling matters. Cake enzymes such as maltogenic alpha-amylases and maltotetrahydrolases are utilized for decreasing stalling issues. Staling is occurred due to changes in the starch structure during storage.
The enzymes are known as biological compounds usually proteins with properties such as optimum temperature, heat sensitivity, and pH balance. Several enzymes are used in the production of bakery items such as pastries, cakes, cookies, etc. These enzymes comprise fungal alpha-amylases and Maltogenic alpha-amylases, glucose oxidase, lipase, and many more.
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Key Takeaways
- Due to the rise in demand for bakery products, the demand for bakery enzymes has also witnessed an increase throughout the forecast period. The presence of various several functional properties in bakery enzymes is anticipated to fuel their demand, increasing the production of bakery products.
- Bakery items are massively used in the luxury hotel market, restaurants, and cafes which is rapidly becoming one of the major factors propelling cake enzymes market growth in the global atmosphere. In addition to that, increasing awareness among bakers about cake enzymes is improving the quality of their baked goods and fueling its market growth.
- The surge in the demand for bakery and confectionery and bakery products in the food & beverage industry has led to a rise in per capita income and shifting consumer preferences to ready-to-eat and convenience food is propelling the growth of the cake enzymes market.
- The cake enzymes help to enhance the taste and quality of cake and other bakery products which in return is expected to augment growth in the cake enzyme market across the estimation period. Rapid discovery of pocket-friendly and better-quality enzymes is expected to grow in the future.
- The frozen bakery products are projected to have remarkable growth in the future attributed to the surge in demand for bakery items majorly bread, owing to a busy lifestyle and an increase in preference for fresh & ready-to-eat breakfast food.
- A significant rise in consumption of bakery products, specifically the packaged variety has increased sales in the market. Increased disposable income, rapid urbanization, and rise in the trend of bread & cakes among millennials, and consistently changing buyer inclination drive the demand for cake enzymes from the bakery industry.
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Competitive Landscape
The prominent players in the cake enzymes market are focusing on research and development to create better quality and economical enzymes for widespread consumption. The market is considered highly competitive, attributing to the presence of a large number of participants in the market.
More Insights into the Cake Enzyme Market
North America is expected to emerge as a lucrative growth opportunity by holding the largest market share in the cake enzyme market with a revenue share worth 31.1% in 2022. North America is projected to dominate the global market owing to the highest consumption of baked goods in the North American region, especially the United States.
According to the FMI analysis, the European region is right next to North America in terms of the largest revenue share. It is expected to reach 28.6% of the global market share in 2022 attributing to the larger production and consumption trend observed in the region.
Asia Pacific region is expected to exhibit remarkable growth in the cake enzymes market by contributing to a significant share of 25.4% in 2022. A significant rise in population in major economies of APAC, such as India and China are expected to auger growth in the market.
The Middle East and Africa are yet another impressive regions to showcase opulent growth opportunities for the cake enzyme market which is expected to reach a share of 12.8% in 2022.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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