US$ 3.2 Bn Sourdough Market Growing Steadily on Account of Growing Application i
Posted by Shirish Wadaskar on January 31st, 2019
The US$ 3.2 Bn sourdough market will continue to be positively influenced by increasing application in bread production. Of the US$ 3.2 Bn worth of sourdough sold in 2016, demand from the bread segment totalled US$ 2.36 Bn. This segment is projected to increase at a CAGR of 7.1% through 2026. The dominance of the bread segment can be gauged from the fact that other key application segments – pizza, buns, cakes, cookies, and waffles & pancakes – collectively accounted for nearly 27% revenue share.
Western Europe continues to the largest market for sourdough, accounting for nearly 38% share of total revenues in 2016. Adoption of sourdough in Western Europe food manufacturing units continues to remain strong. Future Market Insights estimates the Western Europe sourdough market to increase at a CAGR of 7.1% through 2026. In terms of revenues, the market is projected to grow 2X from its 2016 market valuation of US$ 1.21 Bn. In terms of volume, over 552 thousand tonnes of sourdough was sold in 2016; FMI estimates it to reach over 975 thousand tonnes in 2026.
Opportunities in the Global Sourdough Market
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Key Supply-side and Demand-side Drivers
High cost of sourdough products is a major impediment to their widespread adoption in developing countries.
Key Trends Expected to Shape Global Sourdough Market
Sourdough Market Forecast and Analysis by Starter Culture
Type III starter culture currently accounts for nearly half of the revenue share of the global sourdough market. Over 773 thousand tonnes of sourdough was sold in 2016; by the end of the forecast period, Future Market Insights estimates global volumes to surpass 1.3 million tonnes.
Key companies profiled by Future Market Insights in its report include Puratos NV, Ernst Böcker GmbH & Co. KG, IREKS GmbH, Kampffmeyer Mühlen GmbH, Philibert Saveurs, Lesaffre, Dilbeek, Minden, Kulmbach, Hamburg, Pont-de-Veyle, and Marcq-en-Barœul.
Future Market Insights maintains a positive outlook on the global sourdough market, projecting it to grow by 6.8% CAGR through 2026 in terms of value. In terms of volume, demand is projected to grow at 5.5% CAGR.
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About the AuthorShirish Wadaskar
Joined: December 22nd, 2016
Articles Posted: 1,786
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