Bakery ingredients play an important role for preparing bakery products to enhance taste and texture, and maintain softness and freshness, as well as for improve shelf-life of bakery products. There are a broad range of bakery ingredients available, with multiple varieties such as emulsifiers, enzymes, starch, and others.
The first five-year cumulative revenue (2019–2023) is projected to be over US$ 39.0 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period. The global bakery ingredients market is estimated to value of over US$ 6.8 Bn in 2019, and is projected to register a CAGR of 5.6% in terms of value during forecast period 2019–2028.
High utilization of bakery ingredients in production of a variety of bakery products in countries across the globe, changing living standards coupled with rising preference for ready-to-eat and fast foods, are among some of the major factors expected to drive growth of the global bakery ingredients market in the next coming years.
Increasing focus on research and development activities for manufacturing and offering variety of innovative ingredients at cost-effective prices in order to expand customer base can provide a beneficial opportunity to manufacturers of bakery ingredients.
Global Bakery Ingredients Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global bakery ingredients market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global bakery ingredients market is estimated to expand at a moderate CAGR of 5.6% during the forecast period.
Global Bakery Ingredients Market: Segmental Snapshot
The market report has been segmented on the basis of component type, application, and region. The type segment includes emulsifiers, leavening agents, enzymes, baking powder & mixes, oils, fats & shortenings, starch, and colors & flavors. The application segment includes biscuits & cookies, cakes & pastries, coating batters, and others. The region covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By type: The baking powder & mixes segment is expected to register a CAGR of over 6.3%, thereby accounting for highest revenue share among the type segments.
By application: The biscuits & cookies segment is expected to register a CAGR of over 5.4% over the forecast period, thereby accounting for highest revenue share among the application segments.
By region: The market in Europe accounted for highest revenue share in the global bakery ingredients market in 2018, and is estimated to register a CAGR of over 5.1% between 2019 and 2028.
Global Bakery Ingredients Market: Competitive Analysis
The research report on the global bakery ingredients market includes profiles of major companies such as AAK AB, Kerry Group plc, LALLEMAND Inc., Lesaffre et Compagnie, SA, Cargill, Incorporated, Archer Daniels Midland Company, Royal DSM N.V., Associated British Foods plc, Tate & Lyle PLC, and DowDuPont Inc. (The Dow Chemical Company, E.I. du Pont de Nemours and Company).