Allied Market Research published a report, titled, Bakery Ingredients Market by Type (Enzymes, Starch, Fiber, Colors, Flavors, Emulsifiers, Antimicrobials, Fats, Dry baking mix, and Others) and Application (Bread, Cookies & Biscuits, Rolls & Pies, Cakes & Pastries, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025. The report provides detailed analyses of the top winning strategies, growth factors & opportunities, market size & forecast, major market segments, and competitive landscape. As per the report, the global bakery ingredients market generated $12.59 billion in 2017, and is expected to reach at $18.60 billion by 2025, growing at a CAGR of 5.0% from 2018 to 2025.
Changes in lifestyle preferences and dietary habits coupled with growing demand for low trans-fat & gluten-free products drive the growth of the market. However, increased consumption of cereals as a replacement for bakery products along with stringent regulations & implementation of international quality standards hinders the market growth. On the other hand, rise in demand for frozen bakery foods and increase in R&D activities to reduce production costs and improve shelf life of edibles would offer new opportunities to the market.
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Dry baking mix segment to maintain its dominance throughout forecast period
Dry baking mix segment contributed nearly one-fourth share of the total revenue in 2017 and is expected to maintain its dominance throughout the forecast period. This is due to its increasing usage in preparation of baked food products including cakes, waffles, muffins, biscuits, breads, and pizza dough. However, enzymes segment would register the highest CAGR of 8.5% from 2018 to 2025, owing to rise in demand for chemical-free natural products among consumers. The report also analyzes starch, colors, fiber, emulsifiers, flavors, antimicrobials, fats, and others.
Bread segment to retain lead position in terms of revenue through 2025
Bread segment accounted for more than two-thirds share of the total market revenue in 2017 and is projected to maintain its lead position by 2025. This is due to bread being a staple food in developed countries and increase in consumption of low sugar & low carbohydrates bakery products. However, rolls & pies segment would register the fastest CAGR of 6.1% from 2018 to 2025, owing to hectic lifestyle and preference for ready-to-eat foods. The report also analyzes cookies & biscuits, cakes & pastries, and others.
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Europe to remain highest revenue contributor through 2025
Europe contributed more than one-third share of the total revenue in 2017, owing to busy lifestyle of people in the region, high product diversification, and development of new packaging materials. However, Asia-Pacific region would grow at the fastest CAGR of 6.0% from 2018 to 2025, owing to increase in demand for processed bakery products, rise in consumer awareness toward healthy ingredients & clean label products, and surge in disposable income.
Leading market players
The key market players analyzed in the report are Archer Daniels Midland Company, Bakels Group, Associated British Foods Plc., Dawn Food Products Inc., Cargill Incorporated, Ingredion Incorporated, E. I. du Pont de Nemours and Company, Koninklijke DSM N.V., Kerry Group, PLC, and Lallemand Inc. These market players have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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