Market Overview

Global Bakery Ingredients Market Growth, Trends and Forecast to 2023

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Global Bakery Ingredients Market Growth, Trends and Forecast to 2023

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DUBLIN, Aug. 20, 2018 /PRNewswire/ --

The "Global Bakery Ingredients Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

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The global bakery ingredients market was estimated at USD 10.2 billion in 2016 and is expected to register a CAGR of 5.8%, during the forecast period, 2018-2023.

Evolving retail landscape of retail bakery products has been one of the crucial factors for the expansion of the market over the last few years. The market witnessed a high consumption rate in the categories of cakes, pastries, pies, scones, bread, biscuits, and cereals in the developed markets of North America and Western Europe.

Growing popularity for artisan bakeries coupled with high per capita consumption of bakery products is likely to fuel the expansion of bakery ingredients market during the forecast period.

Market Dynamics

There is a growing consumer demand for nutritional content in baked foods with low sugar, whole grain, and zero Trans-fat per serving. Increasing obesity rates and aging population have put the usage of healthy ingredients in the U.S. on a national front. The growing demand for ready-to-eat food is expected to boost the bakery ingredients market.

The shift in the conventional home cooked food to convenience foods has also increased the demand of these bakery ingredients in the emerging markets. Adoption of westernized lifestyle, double income families, emphasis on healthier lifestyles, greater nutrition awareness, and increase in disposable income are the major factors that are responsible for the growth in baked foods industry, which, in turn, will drive the demand for the bakery ingredients manufacturers.

The focus would be on innovation in sweeteners, dry ingredients, starches and derivatives, oil and shortenings ingredients to meet the consumer demand for low trans fats and gluten free products, without modifying the quality, texture, and taste of these products. The growing substitution of the baked goods with the cereals and corn flakes categories is difficult to sustain unless there are healthier and innovative products in the bakery ingredients in compliance with GMP.

The future scope for the bakery ingredient manufacturers would lie in the advancements of food ingredients systems and thereby, providing a common platform for food makers, food service providers, and retailers to meet the companies strategies in meeting with the consumer consumption trends and preferences.

Market Segmentation

Bakery ingredients are broadly categorized in different product segments, which are fats and shortenings, emulsifiers, bases and mixes, functional blends, colors and flavors, leavening agents, and others. The bases and mixes segment accounts for the largest share followed by fats and shortenings.

Enzymes are used to replace chemical additives and also help the companies reduce their processing time while saving energy costs. Emulsifiers are the ingredients that are used to obtain soft crumb-like and tenderness in the texture of some bakery products.

Leavening agents, such as baking powder and yeast extracts, held the largest share in the global bakery ingredients market, as they are widely used for fermentation in baked products. In 2016, the global market for baking powder was valued at USD 4.1 billion.

Regional Analysis

The U.S. and Europe with their long-standing culture of consuming bakery and baked foods are the matured markets of this industry.

Although Germany in the European region is dominating the bakery ingredients market, the European crisis has affected the consumer spending on baked goods.

China and India, with their growing population and increasing disposable incomes, are the major markets for the baked goods, and bakery ingredients. Consumers are willing to pay more for a healthier profile in the bakery products, which drives the growth of this market.

Competitive Landscape

The leading market players have been using strategies, such as expansions and new product launches, to increase their global presence and their productivity. Innovations in food ingredients by consumer preferences also meet the company objectives of reducing costs. Several companies find it important to meet the local regulatory requirements, apart from meeting their standard safety and quality criteria.

Key Developments

  • June 2017 - DSM N.V. introduced new range of baking enzymes that enable bakeries to deliver a better experience for gluten free bread and other kind of wheat free applications. The enzymes are developed to improve the moistness and softness of the bakery products
  • December 2016 - Cargill Incorporated opened two research and development facilities in China and Minnesota, which are constructed in order to meet up with the requirements of the consumers changing expectations. The development centers will work on issues, such as improving food safety and developing new and innovative ingredients

Key Topics Covered

1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions

2. Market Insights
2.1 Market Overview
2.2 Market Trends
2.3 Industry Attractiveness - Porters Five Forces Analysis
2.3.1 Bargaining Power of Suppliers
2.3.2 Bargaining Power of Consumers
2.3.3 Threat of New Entrants
2.3.4 Threat of Substitute Products and Services
2.3.5 Degree of Competition

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities

4. Market Segmentation
4.1 By Ingredients Type
4.1.1 Emulsifiers
4.1.2 Enzymes
4.1.3 Starch
4.1.4 Fibre
4.1.5 Baking Powders and Mixers
4.1.6 Oils and shortenings
4.1.7 Colours and Flavours
4.1.8 Leavening Agents
4.1.9 Sweeteners
4.1.10 Preservatives
4.1.11 Others
4.2 By Application
4.2.1 Breads and Morning goods
4.2.2 Cookies and Biscuits
4.2.3 Cakes and Pastries
4.2.4 Rolls and Pies
4.2.5 Others

5. Regional Market Analysis
5.1 North America
5.1.1 US
5.1.2 Canada
5.1.3 Mexico
5.1.4 Rest of North America
5.2 Europe
5.2.1 Spain
5.2.2 UK
5.2.3 France
5.2.4 Germany
5.2.5 Russia
5.2.6 Italy
5.2.7 Rest of Europe
5.3 Asia-Pacific
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 Australia
5.3.5 Rest of Asia-Pacific
5.4 South America
5.4.1 Brazil
5.4.2 Argentina
5.4.3 Rest of South America
5.5 Africa
5.5.1 South Africa
5.5.2 Rest of Africa

6. Competitive Landscape
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis

7. Company Profiles
7.1 Cargill
7.2 Associated British Foods PLC
7.3 Koninklijke DSM N.V.
7.4 Kerry Group PLC
7.5 AAK AB
7.6 Tate & Lyle
7.7 Lallemand, Inc.
7.8 Lesaffre
7.9 Archer Daniels Midland Company
7.10 E. I. Du Pont De Nemours and Company
7.11 Taura Natural Ingredients Limited
7.12 Dawn Food Products, Inc.
7.13 Muntons PLC
7.14 Corbion
7.15 British Bakels

For more information about this report visit https://www.researchandmarkets.com/research/dpbg7t/global_bakery?w=5

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