Market Overview:
Growing bakery industry is supporting the growth of bakery ingredients market at a global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Bakery Ingredients Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR during the forecast period.
Bakery ingredients are predominantly used in bakery products to improve the overall quality of the product. Bakery ingredients are the major source of retaining softness and taste of the bakery products. Most commonly used bakery ingredients include emulsifier, enzymes, starch, baking powder and mixes, colors & flavors, oil, fats & shortenings and others. Each ingredient hold a significant role and functionality in preparation of bakery products. They are available in wide variety and their preferences may vary according to the regional demands.
Increasing demand for bakery products including cookies & biscuits, bread, rolls & pies, cakes & pastries and others is driving the growth of bakery ingredients market. Rise in number of working population and inclination towards ready-to-eat products is boosting the growth of the market. Inclination towards healthy diet is influencing innovation in bakery products for low trans fats and gluten free products which has opened doors for the growth of bakery ingredients market. Continuous development in packaging material and increased product diversification in bakery industry is supporting the growth of bakery ingredients market. However, growing substitutes of bakery products may hamper the growth of bakery ingredients market.
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Competitive Analysis:
With the entry of industry players in the Bakery ingredients segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The key players are highly focusing on product innovations and new product launches which are healthy for the consumers. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The key players profiled in Bakery ingredients are Archer Daniels Midland Company (U.S.), Kerry Group PLC (Ireland), Cargill Incorporated (U.S.), DuPont Nutrition & Health (Denmark), Tate & Lyle plc (U.K.), Associated British Foods PLC (U.K.), and Lallemand, Inc. (Canada) among many others.
Latest Industry Updates:
Jan 2018 Bakery ingredients suppliers, Kluman & Balter and A1 Cake Mixes Limited have been acquired by the global chemical distribution giant Brenntag.
Aug 2017 ADM Milling, part of Archer Daniels Midland Company has extended its portfolio of flours and bakery ingredients with the launch of its new multiseed concentrate with ancient grains in the U.K.
May 2014 Archer Daniels Midland Company expanded their production capacity of non-genetically modified (non-GMO) lecithin by expanding capacity at their soybean processing facility in Latur, India and adding new rapeseed processing capabilities to its existing facility in Hamburg, Germany.
Market Segments:
The global Bakery ingredients market has been divided into type, application and region.
On the Basis of Type: emulsifiers, enzymes, starch, baking powder and mixes, colors & flavors, oils, fats & shortenings, and others
On the Basis of Application: cookies & biscuits, bread, rolls & pies, cakes & pastries, and others
On the Basis of Region: North America, Europe, Asia Pacific, and ROW.
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Regional Analysis:
The global Bakery ingredients market is segmented into North America, Europe, APAC, and Rest of the World (RoW). North America is dominating the market followed by Europe. In North America owing to the busy work schedule, majority of the population prefers wraps, rolls and pocket sandwiches which is driving the growth of bakery ingredients in this region.
In Europe, U.K., Germany, and France are the major contributors for bakery ingredients market. Asia Pacific is witnessed to be the fastest growing region for bakery ingredients market in which emerging markets of India and China are the major contributors. Rapid innovation in bakery industry with product diversification will boost the growth of bakery ingredients in rest of the world.
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