The global baking ingredients market is expected to
reach USD 19.4 billion by 2025. The market is expected to witness a CAGR of
5.8% over the forecast period, owing to increasing consumer preferences for
wide variety of tastes is expected to be the key factor driving the growth of
baking ingredients market. In addition, rise in food-away from home
expenditures is also propelling market growth.
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Baking ingredients are widely used in various
end-use segments such as bread, cookies, biscuits, cakes, pastries, rolls,
pies, tarts and cupcakes. The baking ingredients market is mainly driven by the
demand from the bread end-use segment, as it is the staple food in developed
countries and affordable to many price sensitive consumers in emerging
economies. In countries like China and India, bread is replacing many
traditional breakfast and snack items.
Increase in away from home food expenditures is
leading to the increase in the number of retail outlets, in-store bakeries,
convenience stores, artisan bakeries, and coffee shops providing various baked
good with innovative flavors. In addition, increasing urbanization and
improving economic conditions in transition economies is also having a
cumulative effect on the overall market.
In terms of revenue, enzymes and emulsifiers were
estimated as the fastest growing ingredients. These segments are expected to
register double digit growth rate in China. Enzymes and emulsifiers have
several positive influences in the baking process such as improving the dough
stability, extending shelf life, influencing fermentation activity and reduces
production cost. Enzymes, emulsifiers, leavening agents, oils, fats and
shortenings help in expanding the penetration of packaged food market.
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Further
key findings from the report suggest:
- Enzymes as baking ingredient is expected to witness the highest growth in terms of value at a CAGR of 7.9% from 2017 to 2025. Enzymes have a prominent role in increasing the shelf-life and providing anti-staling properties in the baked product. Furthermore, technological advancements in developing new enzymes is expected to augment the growth over the forecast period.
- Bread segment emerged as the largest end-use in terms of value in 2016 and is estimated to reach USD 8,541.6 million by 2025. Bread is a staple food in many of the countries in Europe, North America and Central & South America and has varied application in food processing industry.
- The industry in Asia Pacific is expected to witness significant growth over the next eight years owing to rising working population and customer's inclination adapting western food life style. In terms of revenue, the Asia Pacific is expected to grow at a CAGR of 7.2% from 2017 to 2025
- Key players include Flowers Foods Inc, Hostess Brands LLC, Mckee Foods Corporation, George Weston Ltd., Grupo Bimbo. S.A.B. de C.V., Uniferm GmbH & Co., Koninklijke DSM N.V, General Mills Inc, Associated British Foods Plc
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Michelle Thoras
201 Spear Street 1100,
Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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