This report provides exclusive insights into the COVID-19 impact on the Bakery Ingredients Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Bakery Ingredients Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Bakery Ingredients Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on bakery ingredients market provides in-depth analysis of segments and sub-segments in the global as well as regional bakery ingredients market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional bakery ingredients market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global bakery ingredients market. According to the report, the global bakery ingredients market is projected to grow at a CAGR of 5.2% over the forecast period of 2018-2024.
Bakery ingredients are used for the preparation of bakery products. These ingredients maintain the softness, freshness, taste and increase the life span of the product. This ingredient is used in many bakery products such as cookies, cakes, donuts, frozen baked products, bread, pizza, biscuits, and pastries. The choice of ingredients is limited with the texture and flavor of the baked products. Bakery Ingredients have several advantages such as easy to mix, easy to use and easy accessibility. Commonly used ingredients are butter, eggs, yeasts, nuts, additional flavors, color additives, flavor enhancers and so on.
Change in dietary habits of consumers is driving the growth of the bakery ingredients market. Further, growth in fitness-related concerns, the quick upsurge in obesity rates and growth in demand for bakery ingredients with growth in demand for bakery products also boost the demand for bakery ingredients market. Further, growing numbers of working women and changing lifestyle increases the demand for the market. Besides, conventional home cooked food is replaced with ready to eat food due to its affordability and saving time. This factor upsurges the demand for bakery food products resulting in the growth of bakery ingredients market.
Moreover, manufacturers are focusing on modernization in sweeteners, starches & derivatives, oil & shortenings ingredients, and dry ingredients in order to meet the demand of consumers for gluten-free and low trans fats products, without changing the taste, quality and texture of the products. However, an increasing trend of exchanging baked products with oats, cereals and so on may hamper the growth of the bakery ingredient market. Moreover, positive efforts of key players to decrease production costs, increasing demand for frozen bakery foods and upsurging shelf life of products are projected to create a lucrative growth opportunity for the market.
In terms of geographies, North America has dominated the growth of the bakery ingredient market. Factors such as growing demand for convenience and packaged foods, increasing health-conscious among a population, changing lifestyle, increasing consumption of bakery products, and increasing income of individuals are some of the driving factors in North America region for bakery ingredient market.
The report on global bakery ingredients market covers segments such as ingredients type and application. On the basis of ingredients type, the sub-markets include preservatives, emulsifiers, enzymes, fats and shortenings, sweeteners, glazes, colors and flavors, baking mixes, baking soda, starch, leavening agents, and others. On the basis of application, the sub-markets include bread, rolls and pies, cookies and biscuits, cakes and pastries, pizza bread, sweet goods( muffins, doughnuts, and cupcakes), and others.
The report provides profiles of the companies in the market such as Cargill, Incorporated., DuPont, LALLEMAND Inc., INGREDION, Kerry Group, DSM, Dawn Food Products, Inc., Archer Daniels Midland Company, Associated British Foods plc, and Bakels Worldwide.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of bakery ingredients market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.