Global bakery ingredients market has been predicted to rise at a CAGR of 5.65% through the forecast period of 2019-2027
NEW YORK, Jan. 15, 2019 /PRNewswire/ -- KEY FINDINGS
Global bakery ingredients market has been predicted to rise at a CAGR of 5.65% through the forecast period of 2019-2027. The market is primarily being driven by the increasing focus towards cost reduction and the improving the shelf life of bakery products, a change in the consumer lifestyle and their growing demand for healthy and convenient food products. The rising demand for meal solutions/ready-to-eat meals that can be prepared in two-step cooking has been a steady driver for the uptake of these products.
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MARKET INSIGHTS
The segmentation of the global bakery ingredients market has been according to the end products' type and application.The market by type can be further divided into oils, fats & shortenings, baking powder & mixes, emulsifiers starch, colors & flavors, enzymes, leavening agents, and others.
Baking powder & mixes sub-segment are leading the market by type.The market by application includes cookies & biscuits, bread, rolls & pies cakes & pastries, and others.
The application for bread making is dominating the segment on account of its growing consumption across the globe.
REGIONAL INSIGHTS
The regional market of North America, Asia Pacific, Europe and Rest of World are the major geographical segments for the global bakery ingredients market.The European region is presently leading the global market followed by North America and Asia-Pacific.
The high per capita consumption of bread is a key driver for the baking ingredients market in Europe.Baking powder & mixes are the largest segment accounting to $XX million in 2018 and are expected to reach $XX million by 2027 in the region.
Also, the Asia-Pacific market is predicted to exhibit the fastest growth over the forecast period. The altering consumer trends towards convenient and high nutritional food ingredients are primarily driving the Asian market.
COMPETITIVE INSIGHTS
Product launch is the primary strategy adopted by various market players in the global bakery ingredients market. Some of these players include Tate & Lyle PLC, Dawn Food Products, Inc., Kerry Group PLC, Puratos Group, The Bakels Group, Corbion N.V., Lesaffre Group, Lallemand Inc., Royal DSM, Associated British Foods PLC, Archer Daniels Midland Company, Cargill Incorporated, DuPont Pioneer, Ashland Inc. and Ingredion Incorporated.
Companies mentioned
1. Dawn Food Products, Inc.
2. Archer Daniels Midland Company
3. Puratos Group
4. The Bakels Group
5. Corbion N.V.
6. Lesaffre Group
7. Lallemand Inc.
8. Tate & Lyle PLC
9. Kerry Group PLC
10. Royal DSM
11. Associated British Foods PLC
12. Cargill, Incorporated
13. DuPont Pioneer
14. Ashland Inc.
15. Ingredion Incorporated
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