The global Bakery Ingredients market is estimated to reach an annual compound rate of 7.45% between 2020 and 2025. The propensity for health-oriented bakery products is another crucial factor that contributes to market growth.
The ingredients in the bakery are foods that help maintain freshness, softness and taste. They help improve the period of validity and increase the protein content of baked goods. These ingredients are available in several varieties and are considered the staple of human nutrition worldwide. The choice of ingredients and composition determines the taste and texture of baked goods.
- In December 2016, Cargill (USA) expanded the line of emulsifiers with the addition of deoiled canola lecithin.
- In April 2016, Associated British Foods plc (United Kingdom) acquired Illovo Sugar Limited (South Africa), the largest sugar producer in Africa.
The global bakery ingredients market is driven by factors such as busy lifestyles and changes in eating habits, resulting in increased consumption of bakery products. In addition, changes in the culture and daily life of people in developing countries and rising demand for low-fat and gluten-free products will increase the market growth. Also, the rapid increase in obesity rates and the increase in fitness-related concerns have increased the demand for healthy bakery food products. Nevertheless, the active efforts of the leading bakery food market and significant manufacturers to reduce the cost of production and increase the shelf life of products are expected to provide a favorable opportunity for market growth.
In contrast, the trend of replacing baked goods with grains such as oats is supposed to hinder the growth of the world market.
By application, Bread is the most significant contributor to the global bakery ingredients market, which is driven primarily by new production methods that provide nutritional and economical ingredients to price-sensitive customers in developing countries.
By type, baking powder is an essential ingredient in bakery products and a source of vitamins, proteins and carbohydrates consumed worldwide.
In terms of sales, Asia Pacific is the most dominant region representing a significant share of the global revenue. Changes in lifestyle require alternatives to regular household foods, which increases the demand for packaged and processed foods. Asia-Pacific is also estimated to be the fastest-growing area due to the increased demand for these ingredients in China, India and Japan.
Archer Daniels Midland Company invests in R&D to develop a variety of products to meet the needs of various consumers in the market.
Major companies operating in the global bakery ingredients industry include Associated British Foods plc. Archer Daniels Midland Company; Baquel Group; Corporation; Cargill, Dawn Food Products Inc. Ingredion Incorporated; E. I. du Pont de Nemours and Company; Konin Kleeke DSM N.V; Kerry Group PLC; Lallemand Inc.
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Sales Manager at Market Data Forecast