(PRNewswire) Allied Market Research recently published a report on the bakery ingredients market examining products such as enzymes, starch, fiber, colors, flavors, emulsifiers, antimicrobials, fats and baking mixes. The report provides detailed analyses of top strategies, growth factors, market size and forecasts.
According to researchers, 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 compounded annual growth rate of five percent from 2018 to 2025. The report points to changes in lifestyle preferences and dietary habits, coupled with growing demand for low trans-fat and gluten-free products driving growth in the market.
However, increased consumption of cereals as a replacement for bakery products, along with stringent regulations and implementation of international quality standards could become obstacles. On the other hand, rise in demand for frozen bakery foods and an increase in R&D activities to reduce production costs and improve the shelf life of edibles could offer new opportunities.
Some sector-specific data included:
- The 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, the enzymes segment could register the highest CAGR (8.5 percent) from 2018 to 2025, owing to a rise in demand for natural products.
- The bread segment accounted for more than two-thirds share of total market revenue in 2017 and is projected to maintain its lead position throughout 2025. This is due to bread being a staple food in developed countries and an increase in consumption of low sugar and low carbohydrates bakery products. However, the rolls the pies segment could register the fastest CAGR (6.1 percent) from 2018 to 2025, owing to hectic lifestyle and preference for ready-to-eat foods.
- Europe contributed more than one-third share of the total revenue in 2017, owing to a busy lifestyle of people in the region, high product diversification, and development of new packaging materials. However, the Asia-Pacific region could grow at the fastest CAGR (six percent) from 2018 to 2025, owing to an increase in demand for processed bakery products. This stems from a rise in consumer awareness toward healthy ingredients and clean label products, as well as a surge in disposable income.