Consumer preference for healthy bakery products, changes in culture & lifestyle, demand for convenient foods drive the growth of the bakery ingredients market.
PORTLAND, OR, UNITED STATES, October 21, 2021 /EINPresswire.com/ — The global bakery ingredients market generated $13.9 billion in 2019, and is estimated to reach $19.2 billion by 2027, registering a CAGR of 5.7% from 2021 to 2027. The report offers an extensive analysis of drivers & opportunities, key segments, top winning strategies, regional landscape, major investment pockets, and competitive scenario.
Consumer preference for healthy bakery products, changes in culture & lifestyle, and demand for convenient foods drive the growth of the global bakery ingredients market. However, availability of healthier substitutes and stringent regulations & international quality standards restrain the market growth. On the other hand, focus on improvement in quality and shelf life, reduction in production costs, and trend of frozen bakery products present new opportunities in the coming years.
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The prices for bakery ingredients is expected to rise as there has been shortage in supply due to closedown of manufacturing facilities and disrupted supply chain during the lockdown period.
The demand decreased significantly due to shutdown of bakeries, hotels, and cafes due to lockdown imposed in many countries.
However, the demand would rise steadily during the post-lockdown period as many governments have lifted restrictions. Manufacturing activities have been resumed and the supply chain has been restored.
The report provides a detailed segmentation of the global bakery ingredients market based on type, application, and region.
Based on type, the dry baking mix segment held nearly one-fifth of the total share in 2019, and is expected to maintain its highest distribution in terms of revenue during the forecast period. However, the fiber segment is estimated to witness the largest CAGR of 7.5% from 2021 to 2027.
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Based on application, the bread segment accounted for more than two-thirds of the global bakery ingredients market in 2019, and is projected to maintain its dominance throughout the forecast period. However, the rolls and pies segment would portray the highest CAGR of 6.7% from 2021 to 2027.
Based on region, Europe accounted for the highest market share in 2019, contributing to nearly two-fifths of the total share, and is expected to maintain its lead position by 2027. However, Asia-Pacific is estimated to register the fastest CAGR of 6.6% during the forecast period.
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Leading players of the global bakery ingredients market analyzed in the research include Archer-Daniels-Midland Company, Cargill Incorporated, Associated British Foods Plc., Ingredion Incorporated, E. I. Du Pont De Nemours and Company, Koninklijke DSM N.V., Kerry Group, Plc., Bakels Group, Dawn Food Products, Inc., and Lallemand Inc.
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