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Bakery Premixes Market worth $544 million by 2028 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

Jan 09, 2024, 03:30 ET

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CHICAGO, Jan. 9, 2024 /PRNewswire/ -- The Bakery Premixes Market valued at USD 406 million in 2023, showcases a remarkable growth projection, anticipated to escalate to USD 544 million by 2028, indicating a robust compound annual growth rate (CAGR) of 6.0% from 2023 to 2028 according to a report published by MarketsandMarkets™. According to the Food and Agriculture Organization of the United Nations (FAO) report of 2019, bread and bakery products play a crucial role in improving nutrition or obtaining food security. Bread, often referred to as a "staple food," is a primary source of dietary energy while bakery products are rich in essential nutrients such as vitamins, minerals, and fiber, contributing to a well-balanced diet. Thus, premixes serve as a key ingredient, enabling the fortification of bread and other baked goods with vitamins and minerals, making them more nutritious. With the world's population expanding and an increasing desire for nutritious and easily accessible food, the bakery industry, fueled by advancements in premix technologies, is positioned for significant expansion. The active engagement with these emerging trends stands as a lucrative prospect for businesses, offering them an opportunity to contribute significantly to both public health and the enhancement of global food security.

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The Cake bakery product segment is poised for remarkable growth with the highest projected CAGR in the upcoming forecast period.

The cake segment within the bakery premixes market is in demand due to the increasing consumer preference for convenient baking solutions coupled with the rising trend of home baking. The convenience offered by bakery premixes in crafting delectable cakes has become a key driver, catering to seasoned bakers needs. Additionally, growing urbanization, busy lifestyles, and a surge in disposable income have led to an increase in the demand for ready-to-use baking solutions, further fueling the growth of the cake segment in the bakery premixes market. As consumers seek a balance between quality and convenience, manufacturers capitalize on this trend, introducing innovative and diverse cake premix offerings to meet evolving consumer preferences. For instance, South Bakels (South Africa), offers cake premixes that can be customized by adding other ingredients to suit customer's preferences. This anticipated growth underscores the significant market potential for cake premixes, making it a focal point for industry players to capitalize on the expanding bakery segment.

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The UK is poised to maintain its dominant position within the European bakery premixes market throughout the forecast period.

The driving factors behind the UK's sustained leadership are its commitment to product development and adaptation to changing consumer demands. The British bakery industry has shown a remarkable ability to innovate, introducing new flavors, healthier options, and convenient solutions that resonate with modern lifestyles. UK's global reputation for culinary expertise and adherence to stringent quality standards further boosts its standing in the European bakery premixes sector. British brands are synonymous with quality, and this reputation fosters trust among consumers and business partners contributing to the country's continued dominance.

In June 2023, Puratos (Belgium), a global leader in bakery premixes introduced a new brioche bakery mix, Easy Soft'r to the UK market to facilitate the production of high-quality brioche products, ensuring a soft, moist crumb and prolonged freshness. This created ample opportunity for growth in the UK market by adapting traditional recipes or formats to align with current consumer priorities.

Prominent industry players, including Puratos (Belgium), ADM (US), Cargill, Incorporated (US), Nestle (Switzerland), DSM (Netherlands), and Oy Karl Fazer Ab. (Finland), wield substantial influence in the bakery premixes market. These entities boast robust manufacturing facilities and well-established distribution networks across pivotal regions such as North America, Europe, South America, and the Asia Pacific, ensuring a widespread presence and accessibility of their products.

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Browse Adjacent Reports @ Food and Beverage Market Research Reports & Consulting

Related Reports:

Customized Premixes Market by Type (Vitamins, Minerals, Amino Acids, Nucleotides, Antibiotics, Fibers), Application (Beverages, Dairy Products, Bakery & Confectionery Products, Nutraceuticals), Form, Function and Region - Global Forecast to 2027

Baking Ingredients Market by Type (Emulsifiers, Leavening Agents, Enzymes, Baking Powders & Mixes, Oil, Fats & Shortenings, Starch, Colors & Flavors, Preservatives, Fibers), Application (Bread and Sweet Bakery), and Region - Forecast to 2026

Bread Improvers Market by Ingredient (Emulsifiers, Enzymes, Oxidizing Agents, and Reducing Agents), Application (Breads, Cakes, and Viennoiseries), Type (Inorganic and Organic), Form (Powder and Liquid & Semi-liquid), and Region – Global Forecast to 2025

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra

MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/bakery-premixes-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/bakery-premixes.asp

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SOURCE MarketsandMarkets

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