The global bakery ingredients market is expected to rise at an exponential rate due to increase in the urbanization coupled with steady increase in consumption of ready-to-eat foods. The inclination toward health-oriented bakery products another major factor contributing to market growth.
Bakery ingredients are used in bakery products such as breads, cookies, biscuits, cakes, pizza, tarts, pies, pastries, donuts, and frozen baked products. Bakery ingredients have been used since ancient times and are of utmost important these days as nothing can be baked without them.
The growth of the bakery ingredients industry is primarily driven by factors such as changing consumer preference toward consumption of healthy products, growing wealth, and augmented per capita spending on value added products, and increasing penetration of products containing natural ingredients.
Predominantly bakery ingredients improve the overall product quality, to save time and for longevity. It is important that a good quality ingredient is used while baking to retain its softness and taste.
For example, in bread making, yeast is an important ingredient whose gas produced should be kept inside the dough for the better results. The Bakery ingredients are available in wide variety and their preference may vary according to the regional demand.
Bakery Ingredients have many advantages like easy to use, easy to mix, and are easily available.
The food processed industry has led numerous possibilities for innovative product development in the bakery ingredients market. These days dietary fiber has been added in many food products to stabilize high fat food and emulsion and improve shelf life. It imparts water holding capacity, gel formation, and oil holding capacity to food products. Antioxidants are used in very small quantity to maintain the fresh look, aroma, flavor, and taste of the baked goods.
On the basis of type, Bakery Ingredients Market is segmented as Emulsifiers, Leavening agents, Enzymes, Baking powder & mixes, Oils, fats & shortenings, Starch, Colors & flavors, Others.
On the basis of application, Bakery Ingredients Market is segmented as Bread, Biscuits & cookies, Cakes & pastries, Rolls & pies, others.
On the basis of region, Bakery Ingredients Industry is segmented as follows: North America, Europe, Asia-Pacific, and RoW.
Growth in global bakery ingredients market is due to increase in demand for bakery ingredients, and changing lifestyle which leaves little time to prepare meals, saves time, and affordability. Also, with increasing population of working women and time constraint has initiated the need.
Ready-to-eat baked food is replacing the conventional home cooked food. In Europe and North America, majority of the population prefers wraps, rolls, and pocket sandwiches over time consuming food items because of their busy and hectic lifestyle. Development of new packaging materials and increased product diversification in “baked food” category would promote the demand of bakery ingredients.
Staple food consumption is unlikely to alter substantially in any culture. The key markets of U.S. and Europe are not going to dissipate although there is a high chance of growth in the Asia Pacific region where the food culture is gradually changing. The changing lifestyle, better distribution channels, and progress in science and technology have driven the growth of this industry.
The Key Players include Taura, AAK England, British Bakels Ltd, CSM Dawn Foods Ltd, Associated British Foods plc, Crust ‘n’ crumb food ingredients pvt. Ltd, Caravan ingredients, Empire Baking Company, and Muntons plc.
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The demand for packaged and processed foods is expected to increase owing to their longer shelf life. Furthermore, manufacturers are closely monitoring the product supply to major retailers through specialized communication channels in order to improve restocking. In addition, processed food manufacturers have urged the packaging raw material suppliers as well as contract packers to ensure a steady flow of goods during the lockdown related to COVID-19. The report will account for Covid19 as a key market contributor.