Bakery Ingredients Market Overview
Bakery ingredients are used in bakery products such as breads, cookies, biscuits, cakes, pizza, tarts, pies, pastries, donuts and frozen baked products. Predominantly it is used in the bakery products to 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.
Bakery ingredients have been used since ancient times and are of utmost important these days as nothing can be baked without it. They are available in wide variety and their preferences may vary according to the regional demands. Easy access of global information and exposure of various bakery products has increased the demand of bakery ingredients. It also shows more potential in terms of product offerings. Bakery Ingredients have many advantages like easy to use, easy to mix and easy availability.
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Bakery Ingredients Market Segmentation
Bakery ingredients market can be broadly segmented into 2 major groups: on the basis of type and on the basis of application. On the basis of type bakery ingredients market includes enzymes, emulsifiers, colors and flavors, leavening agents, preservatives, fats and shortenings and others. On the basis of application, includes bread, cookies and biscuits, rolls and pies, cakes and pastries and other baked products. Presently consumers are looking for baked products which are healthy, good in taste, use of quality ingredients and at convenience.
Bakery Ingredients Market Dynamics
Growth in global bakery ingredients market is due to increase in demand for bakery ingredients, and changing lifestyle which leaves little time to prepare meals, saves time and affordability. Also with increasing population of working women and time constraint has initiated the need. Ready to eat baked food is replacing the conventional home cooked food. In Europe and North America, majority of the population prefers wraps, rolls and pocket sandwiches over time consuming food items because of their busy and hectic lifestyle. Development of new packaging materials and increased product diversification in baked food category would promote the demand of bakery ingredients.
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Ongoing revolution in the food processed industry has led numerous possibilities for innovative product development in the bakery ingredients market. These days dietary fiber has been added in many food products (bakery products, soups, jams) to stabilize high fat food and emulsion and to improve shelf life. It imparts water holding capacity, gel formation and oil holding capacity to food products. Antioxidants are used in very small quantity to maintain the fresh look, aroma, flavor and taste of the baked goods.
Bakery Ingredients Market Size
The bakery ingredients market has grown substantially at a healthy CAGR rate of 14-18 percent in the year 2012-14. Many companies are entering in this bakery ingredients market to meet the consumer demand of the bakery ingredients. Globally, U.S. and Europe are the largest bakery ingredients markets followed by North America bakery ingredients market and Asia Pacific bakery ingredients market. The biggest driver for bakery ingredients market could be that these countries are the best destination for innovations in the bakery ingredients industry. Strict legislation of the use of good quality bakery ingredients in baked food products and evolving consumer lifestyles and eating habits are the reason why these markets are flourishing. In Asia Pacific region bakery ingredients market especially countries like China and India is showing the most promising growth with respect to all the other regions. Rising disposable income coupled with growing awareness about healthy baked products are also major drivers for bakery ingredients market.
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Bakery Ingredients Market Key Players
Major industry players in the bakery ingredients market are Allied Bakeries, Associated British Food (ABF), Associated British Food (ABF), Bakels, CargillInc. Kerry Group,Royal DSM and Taura.