Global Bakery Ingredients Market is expected to grow at a CAGR of over 6.2% by 2023

Pune, India, December 6, 2017 MRFR Press Release- Market Research Future published a half cooked research report on the Global Bakery Ingredients Market, which is estimated to grow at a CAGR of 6.2% during the forecast period 2017-2023.

Market Overview
Bakery ingredients are predominantly used in bakery products to improve the overall quality of the product. They are the major sources of retaining softness and taste of the bakery products. Most commonly used bakery ingredients include an emulsifier, enzymes, starch, baking powder and mixes, colors & flavors, oil, fats & shortenings and others. Each ingredient holds a significant role and functionality in the preparation of bakery products. They are available in wide variety and their preferences may vary according to the regional demands.

Market Forecast
Bakery ingredients are used in the preparation of bakery products. Increasing demand for bakery products including cookies & biscuits, bread, rolls & pies, cakes & pastries, and others is driving the growth of the bakery ingredients market. The rise in the number of working population and inclination towards ready-to-eat products is boosting the growth of the market.

Inclination towards healthy diet is influencing innovation in bakery products for low trans fats and gluten-free products, which has opened the doors for the growth of the bakery ingredients market. Continuous development in a packaging material and increased product diversification in the bakery industry are supporting the growth of the market. However, growing substitutes of bakery products may hamper the market growth. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 6.2% of bakery ingredients market during the forecast period 2017-2023. 
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Downstream analysis
On the basis of type, bakery ingredients are segmented as an emulsifier, enzymes, starch, baking powder and mixes, colors & flavors, oil, fats & shortenings, and others. Among all, the baking powder and mixes segment is dominating the market. However, emulsifier and enzymes are projected to be the fastest growing segment over the forecasted period owing to its positive impact in the baking process such as improving the dough stability, extending shelf life, influencing fermentation activity and reduces production cost.

Based on the application, the bakery ingredients market is segmented into cookies & biscuits, bread, rolls & pies, cakes & pastries and others. Among all, the bread is the dominating segment due to easy to prepare and a cost-effective option for the consumers. However, rolls and pies are witnessed to be growing at a substantial rate over the estimated period owing to their increasing demand from developed countries.

Competitive analysis
The major players in the bakery ingredients market

• Archer Daniels Midland Company (U.S.)


• Kerry Group PLC (Ireland)


• Cargill Incorporated (U.S.)


• DuPont Nutrition & Health (Denmark)


• Tate & Lyle plc (U.K.)


• Associated British Foods PLC (U.K.)


• Lallemand, Inc. (Canada)

The global bakery ingredients market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the market followed by Europe. In North America, owing to the busy work schedule, the majority of the population prefers wraps, rolls, and pocket sandwiches, which is driving the growth of bakery ingredients in this region.

In Europe, the U.K., Germany, and France are the major contributors to bakery ingredients market. Asia Pacific is witnessed to be the fastest growing market; India and China are the expected to be the major contributors to this market growth. Rapid innovation in the bakery industry with product diversification is projected to boost the growth of the bakery ingredients in rest of the world.

Market Segmentation
Bakery ingredients market is segmented on the basis of type, application, and region.
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