Bakery ingredients

Bakery ingredients Market
The Global Bakery Ingredients Market was worth $14.03 billion in 2018 and estimated to
be growing at a CAGR of 5.40%, to reach $18.25 billion by 2023. Food ingredients
utilised in the bakery industry are recognized as bakery ingredients. Some of the most
normally found bakery ingredients are baking powder, butter, baking soda, flour, eggs,
fruits, nuts, honey, flavour enhancers and colour additives.
The function of these ingredients consists of performing emulsification, protein
consolidation and aeration and preserving freshness in baked food. Baked products
come in an extensive variety, and the intake inclinations fluctuate inherently to diverse
eating habits and perception from region to region.
The growth of the global Bakery Ingredients market is majorly driven by factors such as
rise in demand for bakery ingredients, and shifting lifestyles which leave little to no time
to cook meals. Also, the growing population of working women has instigated the need
for ready to eat baked food, thereby substituting the orthodox home cooked food. The
key restraint of the market is the high sugar and carb levels in the baked products which
lead to health problems. The diabetic epidemic is a key heath issue throughout the world
and it has been escalating, especially in middle income families, who are the chief
consumers of bakery products. Furthermore, excess sugar intake is linked to metabolic
dysfunction, liver damage, and obesity, which are driving the health conscious users
away from baked food items.
The Global Bakery Ingredients market is segmented based on Application and Type.
The market for Bakery Ingredients, on the basis of Application, is classified into Cookies
& Biscuits, Cakes & Pastries, Rolls & Pies, Bread, Torts, and Others. On the basis of
Type, the global Bakery Ingredients market is segmented into Enzymes, Baking Powder
& Mixes, Colours & Flavours, Starch, Oils & Shortenings, Leavening Agents, Emulsifiers,
Sweeteners, Mould Inhibitors, Preservatives, and Others. The bread segment leads the
global Bakery Ingredients market under the application segment. However, the cakes &
pastries segment is anticipated to grow at the highest CAGR due to growing demand
from emerging economies. In terms of type, the baking powders & mixes segment leads
the global market, followed by oils, & shortenings. However, the enzymes segment is
projected to grow at the highest CAGR in terms of worth. Ingredients presenting similar
functionalities are engaging in an aggressive rivalry due to raw material unavailability
and production expenses. For example, use of enzymes in baking limits the progress of
emulsifiers in baking applications.
The market has also been geographically segmented into North America, Europe, Asia-
Pacific and the Rest of the World. Europe is the largest market for Bakery Ingredients
followed by North America, due to the high rate of production and intake of baked food
items in these regions. The developing markets of Asia-Pacific most importantly India
and China, account for the high growth rate due to growing disposable incomes, and the
popularity of western food trends among the middle class. Mexico, Japan, Canada, and
South Korea are some of the other promising players in this market.
This industry is extremely influenced by the macro-economic state of an economy, as
the intake of fancy bakery products drop sharply due to economic slumps. Also, the
industry is exceedingly competitive in nature, and continuous innovation of products is
absolutely essential to withstand the market. The major companies dominating the
global Bakery Ingredients market are Cargill Inc., Kerry Group, Associated British Foods,
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