The
growth of the global bakery
ingredients market is largely driven by factors such as increase in
demand for bakery ingredients, and ever-changing lifestyles which leave little
to no time to cook meals. In addition, the rising population of working women
has prompted the need for ready to eat baked food, thereby replacing the
orthodox home cooked food. However, high sugar and carb levels in the baked
products which lead to health problems may act as the biggest restraining
factor for the growth of this market.
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Food ingredients
used in the bakery industry are known as bakery ingredients. Some of the
profoundly used bakery ingredients include baking powder, butter, baking soda,
flour, eggs, fruits, nuts, honey, flavor enhancers, and color additives. The
primary function of these ingredients comprise of performing emulsification,
protein consolidation and aeration and conserving freshness in baked food.
Baked products come in broad varieties, and the intake preferences vary
innately to diverse eating habits and awareness from region to region. The
global bakery ingredients market is estimated to grow at a CAGR between 5.5 %
to 6.5% from 2019 to 2024.
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The global bakery
ingredients market is segmented based on application and type. The market for
bakery ingredients, on the basis of application, is segmented into cookies
& biscuits, cakes & pastries, rolls & pies, bread, and others. On
the basis of type, the market is segmented into enzymes, baking powder &
mixes, colours & flavours, starch, oils, fats & shortenings, leavening
agents, emulsifiers, and others. Application of bakery ingredients in bread
making is estimated to dominate the global market till 2024
Based
on geography, the global Bakery ingredients
market has been segmented into North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa. North America comprises U.S.,
Canada, and Mexico whereas Europe would primarily cover Germany, France, UK,
Italy, and Rest of Europe. The key countries included under Asia Pacific are
China, Japan, India, Australia, and Rest of Asia Pacific. In Latin America,
Brazil, Argentina, and Rest of Latin America are the key segments whereas in
Middle East & Africa, South Africa and Rest of MEA are the key segments
covered in the report.
Europe
is the largest market for bakery ingredients followed by North America, due to
the high rate of production and intake of baked food items in these regions.
The developing markets of Asia-Pacific most importantly India and China,
account for the high growth rate due to growing disposable incomes, and the
popularity of western food trends among the middle class. Mexico, Japan,
Canada, and South Korea are some of the other promising players in this market.
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