Bakery ingredients Market Trend Growth Forecast Report 2023
Posted by Arzan Bhesania on July 4th, 2019
The world bakery ingredients market was worth ,588 million in 2018 and is estimated to reach ,596 million by 2023, growing at a CAGR of 5.0% from 2018 to 2025. Bakery ingredients are food products which help maintain freshness, softness, & taste; enhance shelf life, and increase the protein content in the baked items. These products are available in several varieties in the market and are known as the primary food for human nutrition globally.
Market Drivers and Restraints:
The world bakery ingredients market is driven by factors like a busy lifestyle and change in dietary habits that, in turn, leads to higher consumption of bakery products. Furthermore, change in culture and routines of people in the developing nations and rise in demand for low trans-fat & gluten-free products are estimated to elevate the market growth. In addition to that, a rapid increase in obesity rates and increase in fitness-related concerns have boosted the demand for healthy bakery food products. Conversely, a growing trend of replacing baked products with cereals, like oats, is estimated to hamper the growth of the world market.
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Report segmented as:
By geography, Asia-Pacific led the world bakery ingredients market, registering a CAGR of around 6.0% throughout the forecast period. Europe accounts for the most significant growth rate, along with a substantial share in the overall world market. North America witnessed the second highest growth rate as well as market share in 2017, due to the quick consumption of bakery products in this region.
Important market players:
The major players operating in the world bakery ingredients industry include Archer Daniels Midland Company; Associated British Foods plc.; Bakels Group; Cargill, Incorporated; Dawn Food Products Inc.; E. I. du Pont de Nemours and Company; Ingredion Incorporated; Kerry Group plc; Koninklijke DSM N.V.; and Lallemand Inc.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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About the AuthorArzan Bhesania
Joined: June 18th, 2019
Articles Posted: 39
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