Food ingredients used in bakery industry are known as bakery ingredients. Some of the most commonly found bakery ingredients include, baking powder, flour, butter, baking soda, eggs, honey, yeasts, fruits, nuts, and additional flavors and flavors enhancers and color additives. The purpose of these ingredients includes performing emulsification, protein strengthening and aeration and maintaining freshness in baked food.
Baked products come in a wide variety, and the consumption trends differ inherently to different eating habits and taste from region to region. Some of the most common bakery products include biscuits, breads, cakes, cookies, pastries, torts, pies, chalets and donuts.
Bakery ingredients are broadly categories in five different product segments namely fortification agents, emulsifiers, bases and mixes, functional blends and others. Emulsifier gained the highest market share in 2013. It is closely followed by bases and mixes.
Rising economic, growing standards of living, increasing westernized lifestyles and lack of time to prepare complicated home cooked meals or breakfast in developing countries of Asia Pacific region are driving the demand for baked food.
Time poor consumers of Europe and North America work in hectic schedules and hence they prefer pleasing and versatile snacks such as pocket sandwiches and wraps over leisurely and time consuming food items. Further with increasing population of working women the baked food is becoming more a part of conventional diet and popular alternative to homemade food.
Development of new packaging materials to meet the requirement from changing lifestyles of consumers is providing new growth opportunities for the bakery product market. Advancement in packaging and ongoing product diversification in baked food is expected to promote demand for bakery ingredient in upcoming years.
With long standing culture of bakery and baked food, Europe is the largest regional market for bakery ingredient followed by North America and Asia Pacific. Latin America is one of the biggest markets of bakery ingredient in rest of the world (RoW) region. Asia Pacific region is showing the most promising market for bakery ingredients in recent years. With rising population and improving purchasing power of consumers in developing countries such as China and India, Asia Pacific is expected to witness double digit growth in upcoming years.
The bakery ingredient market in North America and Europe is relatively matured, and future growth is expected primarily from the rising markets of Asia Pacific, Latin America, and the Middle East. Growing economy, rising disposable incomes, improving living standards, rising employment rates, and changing lifestyles resulting from westernization are driving the demand of bakery products and hence bakery ingredient in these markets.
The major companies operating in global bakery ingredients market include, Taura, AAK UK, British Bakels Ltd, CSM, Dawn Foods Ltd, Associated British Foods plc, crust ‘n’ crumb food ingredients pvt. Ltd.,Caravan Ingredients, Empire Baking Company and Muntons plc.
Key points covered in the report
The report covers geographic segmentation