The latest global bakery ingredients market professional survey report 2017 shows global baking ingredients market size will reach USD 16.55 billion in 2022 at a CAGR of 5.8% from 2016 to 2022 on account of changing consumer preferences for wide variety of baked goods. In addition, factors such as rising demand for more shelf-life products coupled with demand for natural products in the final baked product is expected to fuel the market development.
Baking ingredients are an essential part of bakery ingredients market. Baking ingredients such as enzymes, emulsifiers, leavening agents, baking powders among others are predominantly used in the processing of bakery products such as bread, pastries, cakes, rolls, pies, tarts and others. Good quality products offer several advantages such as flavor enhancements, texture, color and economies of scales in production.
Baking powder & mixes was the largest segment contributing 30.41% of the global revenue share in 2016. It is a source of vitamins, proteins and carbohydrates, which is consumed globally as a primary ingredient in bakery products. On account of rising awareness among consumers for organic products, wheat baking powder which is low in saturated fat and low in cholesterol is gaining importance.
Enzymes is expected to become the fastest growing among other ingredients such as emulsifiers, leavening agents, oil and fats. Owing to increasing bakery products manufacturing, Asia Pacific region is expected to use enzymes extensively. This factor is expected to make Asia Pacific region the largest consumer of enzymes.
Bread, the largest contributor of end use segments, is primarily driven by new production methods employed that imparts nutritional content and affordability to the price sensitive customers in the developing countries.
Usage of baking ingredients in the cakes & pastries segment is anticipated to register the fastest growth rate owing to increased consumption of snack items and availability of freezers in retail stores to store frozen processed foods such as pastries and cookies. In cookies & biscuits segment, demand is primarily driven by food processing companies looking to diversify their product portfolio by entering cookies & biscuits manufacturing business.
In terms of revenue, Europe was the most dominating player, accounting for 36.2% of global revenue share in 2016. Changing life styles have created a need for alternatives for conventional home food, which is driving the demand for packaged and processed food. However, bakery products continue to be the staple food in Europe and North America. Ongoing revolution in the food processing industry is leading to development of new packaged food which caters to the growing demand for convenient food from consumers in Europe and North America.
Asia-Pacific was estimated as the third largest regional segment in 2016 and is expected to witness fastest growth influenced by the growing demand in China, India and Japan. Customers inclination towards western style food is expected to fuel the product demand in developing countries. Stringent regulations on the usage limit of certain baking ingredients in various countries may challenge the manufacturing methods over the forecast period.
The key players in the global market includeFlowers Foods Inc, Hostess Brands LLC, Mckee FoodsCorporation, George Weston Ltd., Grupo Bimbo. S.A.B. de C.V., Uniferm GmbH & Co., Koninklijke DSM N.V, General Mills Inc, Associated British Foods Plc.
Email:sales@qyresearchglobal.com
留言列表
