The global bakery ingredients market is expected to rise at an exponential rate due to increase in the urbanization coupled with steady increase in consumption of ready-to-eat foods. The inclination toward health-oriented bakery products another major factor contributing to market growth.
Bakery ingredients are used in bakery products such as breads, cookies, biscuits, cakes, pizza, tarts, pies, pastries, donuts, and frozen baked products. Bakery ingredients have been used since ancient times and are of utmost important these days as nothing can be baked without them.
The growth of the bakery ingredients industry is primarily driven by factors such as changing consumer preference toward consumptition of healthy products, growing wealth, and augmented per capita spending on value added products, and increasing penetration of products containing natural ingredients.
Predominantly bakery ingredients improve the overall product quality, to save time and for longevity. It is important that a good quality ingredient is used while baking to retain its softness and taste. For example, in bread making, yeast is an important ingredient whose gas produced should be kept inside the dough for the better results. The Bakery ingredients are available in wide variety and their preference may vary according to the regional demand.
Staple food consumption is unlikely to alter substantially in any culture. The key markets of U.S. and Europe are not going to dissipate although there is a high chance of growth in the Asia Pacific region where the food culture is gradually changing. The changing lifestyle, better distribution channels, and progress in science and technology have driven the growth of this industry.
The Key Players include Taura, AAK England, British Bakels Ltd, CSM Dawn Foods Ltd, Associated British Foods plc, Crust ‘n’ crumb food ingredients pvt. Ltd, Caravan ingredients, Empire Baking Company, and Muntons plc.
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Source: Grand View Research