(MoneyNewsWire.Net, January 11, 2018 ) The Global Bakery Ingredients Market was worth $12.63 billion in 2016 and estimated to be growing at a CAGR of 5.40%, to reach $16.42 billion by 2021. Food ingredients utilised in the bakery industry are recognized as bakery ingredients. Some of the most normally found bakery ingredients are baking powder, butter, baking soda, flour, eggs, fruits, nuts, honey, flavour enhancers and colour additives.
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The function of these ingredients consists of performing emulsification, protein consolidation and aeration and preserving freshness in baked food. Baked products come in an extensive variety, and the intake inclinations fluctuate inherently to diverse eating habits and perception from region to region.
The growth of the global Bakery Ingredients market is majorly driven by factors such as rise in demand for bakery ingredients, and shifting lifestyles which leave little to no time to cook meals. Also, the growing population of working women has instigated the need for ready to eat baked food, thereby substituting the orthodox home cooked food. The key restraint of the market is the high sugar and carb levels in the baked products which lead to health problems. The diabetic epidemic is a key heath issue throughout the world and it has been escalating, especially in middle income families, who are the chief consumers of bakery products. Furthermore, excess sugar intake is linked to metabolic dysfunction, liver damage, and obesity, which are driving the health conscious users away from baked food items.
Bakery Ingredients Market: Segmentation
Cookies & Biscuits
Cakes & Pastries
Rolls & Pies
Baking Powder & Mixes
Colours & Flavours
Oils & Shortenings
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The bread segment leads the global Bakery Ingredients market under the application segment. However, the cakes & pastries segment is anticipated to grow at the highest CAGR due to growing demand from emerging economies. In terms of type, the baking powders & mixes segment leads the global market, followed by oils, & shortenings. However, the enzymes segment is projected to grow at the highest CAGR in terms of worth. Ingredients presenting similar functionalities are engaging in an aggressive rivalry due to raw material unavailability and production expenses. For example, use of enzymes in baking limits the progress of emulsifiers in baking applications.
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. Europe is the largest market for Bakery Ingredients followed by North America, due to the high rate of production and intake of baked food items in these regions. The developing markets of Asia-Pacific most importantly India and China, account for the high growth rate due to growing disposable incomes, and the popularity of western food trends among the middle class. Mexico, Japan, Canada, and South Korea are some of the other promising players in this market.
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This industry is extremely influenced by the macro-economic state of an economy, as the intake of fancy bakery products drop sharply due to economic slumps. Also, the industry is exceedingly competitive in nature, and continuous innovation of products is absolutely essential to withstand the market. The major companies dominating the global Bakery Ingredients market are Cargill Inc., Kerry Group, Associated British Foods, DSM, DuPont, Dawn Foods Ltd., Taura Natural Ingredients Limited, Muntons PLC, Corbion N.V. and British Bakels Limited.
Reasons to buy Bakery Ingredients Market Report:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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