Innovation in bakery supplies is aimed at enhancing the nutritional profile of products and addressing their calorie density, among other things. Consumer awareness regarding calorie density is increasing, as is the need for healthier food products. On the other hand, there is still significant craving for indulgent products. Overall, customers are looking for healthier alternatives to their favorites delicacies, which is being catered to by market players
- For instance H.C. Brill, a subsidiary of CSM, launched a product portfolio of healthier cupcakes, dubbed Sensibly Indulgent, without sacrificing taste or enjoyment. A regular Brill slice of frosted cake contains 320 calories and 16 g of fat, whereas, the sample prototype (80 g serving size) has 200 calories and 5 g of fat (2 g saturated fat) (4g saturated fat).
Frozen bakery products and thaw-and-serve bakery products are two essential categories in this space. Frozen bakery products include frozen pizzas (most common), frozen breads, frozen pies, frozen cakes, frozen crepes, and frozen waffles, among others. The growth of baked goods has a favorable impact on the growth curve for baking ingredients, in both, the foodservice and retail sectors.
- For instance, convenience stores such as 7-Eleven (24/7) mainly retail thaw & serve bakery products such as cakes, muffins, and waffles, which allows consumers to take them and go for convenience sake.
Overall, the global bakery ingredients market is set to witness growth at a value CAGR of 6.4% over the forecast period (2022-2032).
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Key Takeaways from Market Study
- The market for bakery ingredients is expected to grow at CAGRs of 7.3% in South Asia and Pacific, respectively, through 2032.
- Market share of Oceania countries is 30% of South Asia and Pacific in 2022.
- The Europe bakery ingredients market is expected to reach 5,345.5 MT by the end of 2032.
- Growing consumer preference for convenience food is positively impacting the sales of bakery Ingredients across global markets. Based on application, demand for cakes and pastries is expected to increase at a CAGR of 6.5%.
- Although by product type the colors and flavors segment holds the highest market share, the yeast segment of bakery ingredients is set to surge at a CAGR of 6.3%.
- The outbreak of COVID-19 disrupted the supply chain of bakery ingredients, due to which, there was a slowdown in the market. However, the market is expected to witness significant growth over the coming years with economies providing opportunities to bakery ingredient manufacturers.
“Manufacturers are offering bakery ingredients with diverse flavors, textures, and varieties to customers. With the utilization of advanced ingredients and state-of-the-art manufacturing techniques, companies are providing pioneering solutions in regards to baking Ingredients. Moreover, offering flavor, color, and clean label bakery ingredients are among the strategies being adopted by market participants,” says a Persistence Market Research analyst.
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Competitive Landscape
Key companies involved in the manufacturing of bakery ingredients are majorly focusing on expanding their product portfolios by adding innovative flavors to their bakery ingredients. These key manufacturers also provide clean label bakery ingredients to help maintain transparency about their offerings.
- In May 2018, Corbion N.V introduced Pristine (clean-label cake solutions) for mixes, bases, and icing stabilizers to help bakery manufacturers meet the ever-increasing demand for simplified ingredients. Corbion broadened its clean-label portfolio to include cake mixes, bases, and icing stabilizers.
- In March 2018, Kerry Group invested in its Thailand operations, and announced the opening of its expanded regional development and application center in Bangpoo, Thailand. The expanded center helped Kerry work with consumers at all the stages of product development for a range of categories, including meat, snacks, bakery, etc.
Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global bakery ingredients market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on product type (enzymes, emulsifiers, colors & flavors, yeast, and fats & oils), application (bread, cakes & pastries, cookies & biscuits, and others), and distribution channel (traditional trade, modern trade, and industrial, foodservice (HoReCa)), across six major regions of the world.
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