Bakery Ingredients Market to Reach $19.2 Bn, Globally, by 2027 at 5.7% CAGR: Allied Market Research

- Consumer inclination for healthier bakery products, surge in demand for convenient foods, and changes in lifestyle & culture fuel the growth of the global bakery ingredients market.

News provided by

Allied Market Research

Jan 13, 2021, 08:30 ET

PORTLAND, Ore., Jan. 13, 2021 /PRNewswire/ -- 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, 2021–2027."According to the report, the global bakery ingredients industry garnered $13.9 billion in 2019, and is expected to reach $19.2 billion by 2027, witnessing a CAGR of 5.7% from 2021 to 2027.

Drivers, restraints, and opportunities

Consumer inclination for healthier bakery products, surge in demand for convenient foods, and changes in lifestyle & culture fuel the growth of the global bakery ingredients market. However, presence of other healthier alternatives and strict regulations & international standards for quality hinder the market growth. On the other hand, R&D activities to improve quality and shelf life, lesser manufacturing costs, and trend of frozen bakery products create new opportunities in the coming years.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/2366

Covid-19 Scenario

Owing to shortage in supply of bakery ingredients due to closedown of manufacturing facilities and disrupted supply chain during the lockdown, the prices are expected to increase.
The demand for bakery ingredients reduced considerably due to shutdown of cafes, hotels, supermarkets, and bakeries with lockdown restrictions taking place in many countries.
However, the demand is estimated to rise steadily during the post-lockdown period as many governments put off restrictions of lockdown. Bakeries have opened and markets have been flooded with bakery products.

The dry baking mix segment to maintain its leadership status throughout the forecast period

Based on type, the dry baking mix segment contributed to nearly one-fifth of the total share of the global bakery ingredients market in 2019, and is projected to maintain its leadership status throughout the forecast period. This is attributed to its widespread usage in preparing waffles, breads, cakes, biscuits, muffins, and pizza dough. However, the fiber segment is expected to manifest the fastest CAGR of 7.5% from 2021 to 2027, owing to its usage in the preparation of baked items and healthy breads to offer nutritious products.

The bread segment to maintain its dominant share in terms of revenue by 2027

By application, the bread segment held more than two-thirds of the global bakery ingredients market in 2019, and is estimated to maintain its dominant share in terms of revenue throughout the forecast period. This is attributed to consumer preference for regular consumption as a breakfast food andartisan confectionery. However, the rolls and pies segment is expected to portray the largest CAGR of 6.7% from 2021 to 2027, owing to their availability as ready-to-eat baked products that offer convenience for consumption.

Europe, followed by North America, to maintain its lead position during the forecast period

Based on region, Europe, followed by North America, contributed to the highest market share, accounting for nearly two-fifths of the total shareof the global bakery ingredients market in 2019, and is projected to maintain its lead position during the forecast period. This is due to preference for ready-to-eat baked food over home-cooked food, increased product diversification of baked food, and development of new packaging materials. However, Asia-Pacific is expected to register the highest CAGR of 6.6% during the forecast period, owing to increase in demand for processed bakery food products,rise in consumer awareness toward clean label products and healthy ingredients, and adoption of western lifestyle in the region.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/2366

Leading market players

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.
Lallemand Inc.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Organic Fruits and Vegetables Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

Corn Starch Market: Global Opportunity Analysis and Industry Forecast, 2019-2026

Food Flavors Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter