Global Bakery Ingredients market is predicted to rise at a CAGR of 5.97% over the forecast period of 2017-2025. The market is primarily being driven by increasing focus towards reducing cost and improving the shelf life of bakery products, a change in the consumer lifestyle, and their growing demand for healthy and convenient food products.
The Global Bakery ingredients market is segmented according to its type and application. The market by type can be divided into oils, fats & shortenings, baking powder & mixes, emulsifiers starch, colors & flavors, enzymes, leavening agents, and others. Baking powder & mixes 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.
The global bakery ingredients market covers the regions of North America, Asia Pacific, Europe, and Rest of World. The European region is presently leading the global market followed by the North America and Asia-Pacific. The high per capita consumption of bread is a key driver for the baking ingredients market in this 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.
Product launch is the primary strategy adopted by various market players in the global Bakery ingredients market. Some of these players include Cargill Inc, Royal Dsm, N.V.Kerry Group Plc, Associated British Foods Plc, Tate & Lyle, Lesaffre Italia Spa, Lallemand Inc, Archer Daniels Midland Company, Ashland, Dupont, Corbion Nv, Ingredion, Bakels Worldwide, Puratos Group and Dawn Food Products Inc.