The bakery ingredients industry comprises one of the major segments of the food processing sector globally and offers huge potential for growth. As the population is growing, its food habits are changing and the consumers are driving towards low-calorie diets. Demand for convenience and packaged foods owing to improving lifestyle standard and economies condition of the developing countries boosting the demand for bakery ingredients. Bakery ingredients are food products that help maintain taste, freshness, softness, increase the protein content, and improve the shelf life of the baked products. Moreover, a growing trend in the bakery ingredient market has been witnessed with respect to the demand for organic and vegetarian bakery products expected to fuel the market growth during the forecasted period.According to AMA, the market for Bakery Ingredient is expected to register a CAGR of 5.19% during the forecast period to 2024. This growth is primarily driven by Growing Demand for Gluten-Free and Low Trans-Fat Products and Changing Consumer Lifestyles & Increasing Health Consciousness among Consumers.
Globally, a noticeable market trend is evident Growing Demand for Organic Bakery Ingredients
. The Food Products sector in the Europe region has been increasing at a strong rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Archer Daniels Midland Company (United States), Koninklijke DSM N.V. (Netherlands), Cargill, Incorporated (United States), BASF SE (Germany), Ingredion Incorporated (United States), Roquette Frères (France), SunOpta (Canada), Darling Ingredients Inc. (United States), Omega Protein Corporation (United States), DowDuPont Inc. (United States), Kemin Industries, Inc. (United States), InVivo (France), John Pointon & Sons Ltd. (United Kingdom) and Associated British Foods (United Kingdom) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
3rd June 2019, Associated British Foods announced the joint venture with Wilmar International. The main aim of this venture is to acquire Chinese yeast and bakery ingredients activities of AB Mauri, a division of ABF. The joint venture will also build and operate a new yeast plant co-located with Wilmar’s food processing plant in the Taha industrial zone in Qiqihar City, China, significantly increasing capacity.
6th May 2019, Ingredion launched new clean label starches offering wider functionality and unmatched performance to reduce fat and build indulgent textures. This product is available in Europe, the Middle East and Africa (EMEA). With this launch, the company is focusing on expanding its product portfolio in the natural bakery ingredients market.
“According to the Food and Drug Administration (FDA), in the United States, the amount of trans-fat in the food product must be labeled as trans-fat can increase the risk of developing cardiovascular disease.”
- Growing Demand for Gluten-Free and Low Trans-Fat Products
- Changing Consumer Lifestyles & Increasing Health Consciousness among Consumers
- Growing Demand for Organic Bakery Ingredients
- Emerging innovative Functions of Baking Ingredients
- Stringent Government Regulations and Quality Standards
Rising Demand for Ready-To-Eat & Frozen Bakery Products and Growing Demand from the Developing Economies
Increasing number of Local Manufacturers
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