Global Bakery Premixes Market is expected to grow at a CAGR of 5.5% during the forecast period from 2019-2026

As per the report published by Fior Markets, the global Bakery Premixes market is expected to grow from USD 282.46 Million in 2018 to USD 433.49 Million by 2026, at a CAGR of 5.5% during the forecast period from 2019-2026.The North America region led the global Bakery Premixes market with a market share of 30.24% in 2018 owing to the increasing consumer awareness of the benefits of personalized premixes in bakery products in the region coupled with the addition of essential ingredients such as vitamins and minerals. In Europe, Russia is projected to be the fastest-growing country-level market during the forecast period, which is creating lucrative opportunities for bakery premixes manufacturers, particularly for bread applications.

"Bakery Premixes Market by Type (Complete Mix, Dough-Base Mix and Dough Concentrate), Application, Regions",and Global Forecast 2019-2026.

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Major players in the global Bakery Premixes market are Archer Daniels Midland Company, Bakels Group, Cargill, Corbion, Glanbia PLC, Lesaffre, Premia Food Additives Pvt. Ltd., Puratos and Royal DSM among others. Bakery premixes are materials that include a combination of ingredients which make up part of the end products (usually 40-60%) to which only flour is added for the manufacture of a variety of bakery products. Bakery premix includes special formulations of bakery ingredients that offers variety of taste, texture and color to bakery items such as cake, pie, white bread rolls, bakery flour, muffins, donut and bread rolls. Increasing demand for specialty bread-based bakery products with different formulations in bakery ingredients due to changing consumer preference, is a major factor driving the growth of the global bakery premix market. In addition to changing customer lifestyle, demand for bakery products with natural ingredients is growing and is therefore drivingthe global bakery premix market over the forecast period. However, rise in number of health-conscious consumers, particularly in developed countries, may hamper the growth of bakery premixes market.

For instance,in March, 2019, Corbion entered into an agreement with the shareholders of Granotec do Brazil - a specialist in functional blends for the Brazilian bakery industry - to acquire full ownership of the company. Granotec do Brazil is a specialist in functional blends for the Brazilian bakery industry.Corbion says that one of the key growth drivers of its 'Creating Sustainable Growth' strategy is expanding the bakery business geographically and extending the North American Bakery solution provider model into Latin America, and this acquisition perfectly fits in this ambition.

The type segment is divided into complete mix, dough-base mix and dough concentrate. The complete mix segment emerged as the leader in the global Bakery Premixes market with a market share of around 41.24% in 2018. Complete mix is widely preferred in the foodservice industry, as it requires end users to add water. For this form of premix, the food service industry is expected to be a main revenue generator as it acts as a cost-effective option for them. The food service industry is expanding in both developed and developing countries, encouraging manufacturers of bakery premixes to enter this market. The application segment includes bread products and bakery products. The bread products segment is projected to grow at a higher CAGR of around 5.9% during the forecast period because bread is a staple food product in a number of countries and has witnessed increasing demand from developing countries in regions such as South America, Middle East & Africa and Asia Pacific. Also, bread manufacturers are focusing on developing products with value-additions such as' gluten-free,' whole grain, and organic products in Europe and North America's developed markets.

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Factors such asmultifunctional features of bakery premixes will drive its market growth in key applications, such as bread, cakes, and pastries. However, high R&D investments for bakery premixes may hamper the market growth.

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