Baked products are highly popular due to their convenience and
the ongoing innovation in product offerings. As such, baking ingredients are an
essential part of this and Market Research Future's latest report on the global
baking ingredients market has divulged several important details regarding the
growth of the market over the review period from 2018 to 2023. The revenue
generated by the global baking ingredients market in 2017 was recorded at USD
34.62 Bn. The market has been projected to register a consistent CAGR of 5.2%
during the review period from 2018 to 2023, which will likely result in a
market value of USD 44.02 Bn by the end of 2023.
Bakery
Ingredients Market Analysis
Convenient food items have been witnessing explosive demand,
primarily due to changing consumer lifestyles. Urbanization and adoption of a
number of advanced technologies have led to busy lifestyles and the resulting
demand for food products of convenience. Moreover, frozen food which is often
frozen at peak freshness has been witnessing increased demand. Among this type
of food are frozen bakery foods which further support the increasing demand for
convenience foods. Market growth is also encouraged by the increased demand for
products low in trans fat as well as gluten-free products which have prompted
market players to expand their product offerings in an effort to tap into the
high demand for bakery products. Healthy options are in high demand as
consumers become more aware regarding food ingredients. Baked products are
expected to witness consistent growth as bread, and other similar items are
staples food items, particularly in certain developed countries. Meanwhile,
changing trends in developing economies are expected to affect the market
positively as the demand for bakery products increases.
Key Players:
Prominent market participants in MRFR’s global Baking
Ingredients market report include Koninklijke DSM N.V., Roquette Frères,
Ingredion Incorporated, BASF SE, Cargill Incorporated, SunOpta, Omega Protein
Corporation, Archer Daniels Midland Company, and Darling Ingredients Inc.
Market Segmentation:
MRFR's segmentation of the global Baking Ingredients market
has been done on the basis of product type, application, and region. Product
types have been categorized to include emulsifiers, leavening agents, enzymes,
oils, fats & shortening, colors & flavors, starch, and others.
Increasing preference for products with various flavors and colors have
resulted in the colors and flavors segment acquiring the largest share of the
global market. Meanwhile, the emulsifiers segment is expected to witness the
highest growth over the forecast period.
Regional Analysis:
Europe has been recorded as the regional market with a
dominant share of the global baking ingredients market. The regions bakery
products market is truly significant as several countries in the region have
many types of baked products which are local and have considerable demand. The
region is home to several market players of prominence who participate in the
market and their various marketing strategies as well as the high demand for
healthy bakery products is likely to support the European market’s growth over
the assessment period.
Complete Report Details @ https://www.marketresearchfuture.com/reports/baking-ingredients-market-6692
About Market Research Future
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