Press release
Increasing Demand For Bakery Products Including Cookies & Biscuits, Bread, Rolls & Pies, Cakes & Pastries
Bakery ingredients are used in the preparation of bakery products. Increasing demand for bakery products including cookies & biscuits, bread, rolls & pies, cakes & pastries, and others is driving the growth of the bakery ingredients market. The rise in the number of working population and inclination towards ready-to-eat products is boosting the growth of the market.
Inclination towards healthy diet is influencing innovation in bakery products for low trans fats and gluten-free products, which has opened the doors for the growth of the bakery ingredients market. Continuous development in a packaging material and increased product diversification in the bakery industry are supporting the growth of the market. However, growing substitutes of bakery products may hamper the market growth. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 6.2% of bakery ingredients market during the forecast period 2017-2023.
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Key Players:
Some of the key players profiled in the global bakery ingredients market are Archer Daniels Midland Company (U.S.), Kerry Group PLC (Ireland), Cargill Incorporated (U.S.), DuPont Nutrition & Health (Denmark), Tate & Lyle plc (U.K.), Associated British Foods PLC (U.K.), and Lallemand, Inc. (Canada)
Regional Analysis:
The global bakery ingredients market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the market followed by Europe. In North America, owing to the busy work schedule, the majority of the population prefers wraps, rolls, and pocket sandwiches, which is driving the growth of bakery ingredients in this region.
In Europe, the U.K., Germany, and France are the major contributors to bakery ingredients market. Asia Pacific is witnessed to be the fastest growing market; India and China are the expected to be the major contributors to this market growth. Rapid innovation in the bakery industry with product diversification is projected to boost the growth of the bakery ingredients in rest of the world.
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