LONDON—The global specialty bakery market size is expected to grow by USD 10.54 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 4%.
Specialty bakery market is driven by the growing demand for functional ingredients. In addition, the increasing need for free-from food is anticipated to boost the growth of the Specialty Bakery Market.
The growing demand for food with functional ingredients is expected to drive the specialty bakery market growth. Functional ingredients are health-promoting and energy-boosting ingredients, which are used to enhance the nutritional value of bakery products. Some examples of functional ingredients are oats, legumes, nuts, probiotics, cereals, and fortified margarine. Growing health concerns among consumers have led bakery manufacturers to introduce the use of such ingredients in their offerings. Apart from wheat flour, other varieties such as chia flour, rice flour, and multigrain are being introduced in bakery products. Additionally, functional ingredients help confer tenderness, moisture, structural strength to the products.
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