The Global Bakery Ingredients Market is growing at a steady CAGR of 5.40%, to reach $16.42 billion by 2021 owing to rise in demand for bakery ingredients.
Hyderabad, India -- (SBWIRE) -- 01/18/2018 -- The report "Bakery Ingredients Market by Application (Cookies & Biscuits, Cakes & Pastries, Rolls & Pies, Bread, Torts, and Others), by Type (Enzymes, Baking Powder & Mixes, Colours & Flavours, Starch, Oils & Shortenings, Leavening Agents, Emulsifiers, Sweeteners, Mould Inhibitors, Preservatives, and Others)- Forecast to 2022", The Bakery Ingredients market is expected to reach USD 16.42 Billion by 2022 from an estimated USD 12.63 Billion in 2017, at a CAGR of 5.4%. The key factors such as changing lifestyles of consumers, rising demand for bakery products and ingredients and rapid industrialization are the driving forces of the market.
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By type, the cocoa and chocolate segment accounted for the largest share of the market in 2017
On the basis of type, the global Bakery Ingredients market is segmented into Enzymes, Baking Powder & Mixes, Colours & Flavours, Starch, Oils & Shortenings, Leavening Agents, Emulsifiers, Sweeteners, Mould Inhibitors, Preservatives, and Others. In 2017, the baking powders and mixes segment is expected to account for the largest share of the global Bakery Ingredients market. The sweeteners segment, on the other hand, is expected to be the fastest-growing segment during the forecast period. Growth in this segment is mainly driven by the increase in their use for a variety of purposes.
By application, the bread segment accounted for the largest share of the market in 2017
On the basis of application, the market is segmented into Cookies & Biscuits, Cakes & Pastries, Rolls & Pies, Bread, Torts, and Others. Bread is the most widely used type of Bakery ingredients' application. Cookies and Biscuits application of the Bakery ingredients market is growing at the highest CAGR. Europe dominated the market in 2017
Europe accounted for the largest share of the Bakery Ingredients market in 2017, followed by North America. The large share of the European Bakery Ingredients market can be attributed to the fact that Europe has become the largest market because of rising health consciousness of consumers in the US which led to its downfall as the largest market.
The various players in the Bakery Ingredients market include Cargill Inc., Kerry Group, Associated British Foods, DSM, DuPont, Dawn Foods Ltd., Taura Natural Ingredients Limited, Muntons PLC, Corbion N.V. and British Bakels Limited.
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