India Bakery Ingredients Market - Growth, Trends and Forecast (2020 - 2025)

NEW YORK, April 22, 2020 /PRNewswire/ --

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- The scope of incorporation of health efficient ingredients in the bakery is responsible for new product launches and market expansion. Many manufacturers are introducing clean-label ingredients, such as Non-GMO, Non-Gluten to allure the customers craving for health, along with the taste of baked goods.
- In India, bakery products, due to their significant nutrient value and affordability, are consumed on a high scale. The demand for baked goods in India moved from the traditional bread consumption trend to the increasing consumption of bakery goods, such as pancakes, cupcakes, croissants, and rolls.
- Also, the industry is witnessing dramatic changes in the choices of breads, thus, pushing bakers to use innovated ingredients and introduce functional variants, such as brown and multi-grain breads.

Key Market Trends
Increased Domestic Production of Bakery Goods

Bakery, being one of the largest FMCG industries in the country, promises great profitability to the market players, and has resulted in constant business expansions, primarily in the small-scale bakery sector. The industry, in recent years, has recorded exponential growth in number of bakery openings, reflecting the proportional rise in bakery goods production. According to the Center for Monitoring Indian Economy, the volume production of bread, buns, and croissant was lifted from 265 thousand metric ton in 2015 to 275 thousand metric ton in 2018. Similarly, for biscuits and cookies, the production grew by 7% in 2018, since 2015.

Compound Chocolate is Growing at a Faster Pace

The vegetable fats commonly used in India are often hard fats or fats semi-solids at room temperature, such as coconut oil and palm kernel oil. Compound chocolate is attractively priced, which makes it an ideal choice for home hobbyists and food manufacturers in various segments, such as bakery, confectionery, ice creams, and frozen desserts. It is used as a low-cost alternative to couverture chocolate in the food industry. Moreover, as compared to real chocolates, compound chocolate does not require tempering, which is one of the major reasons why consumers prefer compound chocolate over real chocolate.

Competitive Landscape
The major strategies adopted by the companies operating in the Indian bakery ingredients market are product innovation and expansions. The players are focusing on introducing new products in the market to cater to the interests of the consumers, such as organic, clean label, and low-calories. Moreover, consumers prefer innovation in terms of flavors and fortification associated with flour, sweeteners, colors, and other additives. Cargill Incorporated, The Archer Daniels Midland Company, Koninklijke DSM NV, Associated British Foods PLC, General Mills Inc., Puratos NV, and British Bakels Ltd are some of the global players offering bakery ingredients in the country.

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