Global Cake Enzymes - Market Outlook
Over the past decade, cake moved from specialty aisle to regular consuming product aisles. This is a dynamic shift in consumer attributes and preference towards cake as well as bakery products. The transforming trend has also sensitized other associated products market such as ingredients used in cake baking. Cake enzyme is one such product that witnessed massive traction from B2B as well as B2C customers. It has also been observed that several small to large food additive and ingredient manufacturing companies identified the gap in the market and leveraged the opportunity with branded cake enzyme supply.
The global cake enzyme market is characterized by large scale fragmentation, though a handful of large global and regional players also operate in the business.
The enzyme is added to the dough helps to improve the shelf life and to increase the palatability of the cake and other baked goods. Baking enzymes helps to reduce the cost also improves the quality of the product.
Expanding the bakery industry is driving the Global Cake Enzymes Market
Enzymes are the most essential ingredient for the cake or other bakery products used for fermentation, improving the volume and texture of the base. Cake enzymes is an innovative solution for the bakery business to improve the shelf life of the products and reduce product waste.
The growing bakery industry is demanding for cost-cutting shelf life-extending and quality improving enzymes which are expected to fuel the demand for cake enzymes globally. Increasing the use of cake enzymes at cafes, restaurants, and hotels and growing bakery industry is fuelling the growth of the global cake enzymes market. Enzymes improve the quality and efficiency of the cakes and another baked good, the awareness about such factors of enzymes is expected to increase the demand for cake enzymes globally.
Rising per capita income of the consumers and urbanization in many countries around the globe is increasing the consumption of bakery products which in turn is fuelling the cake enzymes market globally.
Global Cake Enzymes Market- Segmentation
Based on End-use, the global cake enzymes market is segmented as
Based on the distribution channel, the global cake enzymes market is segmented as
Business to Business
Business to Consumer
Based on the region the global cake enzymes market is segmented as
Global Cake Enzymes Market – Key players
Some of the key players of the global cake enzymes manufacturers are DSM, Lallemand Inc, PURATOS, DuPont Nutrition & Biosciences and others.
Global Cake Enzymes Market – Opportunity
Since cake enzymes have a very specific application, companies engaged in cake enzyme production need to explore opportunity pockets strategically. Such companies can adopt customer engagement initiatives to maintain the existing pool of customers. Simultaneously identify new approaches to acquire new customers. Artisan bakers, independent bakery operators, and retail customer groups offer substantial growth opportunities for cake enzyme suppliers. A key perspective to leverage the underlying opportunity pockets is to increase brand visibility. The global market lacks a clear leader in the cake enzyme category, and many company investing resources to prioritize brand visibility would gain early movers advantage heightened product sales as well as market share.
Impact of COVID-19 on global Cake Enzymes Market
The coronavirus pandemic is The COVID -19 outbreak has affected the HORECA sector drastically which is affecting the demand for bakery products and ingredients as well. The long term effect on the manufacturer is sourcing the raw material, distribution networks, and commodity pricing. The consumers, as well as the companies all, are opting for online sales channels during this pandemic era. The sourcing of the raw material is now limited to local providers since the supply chain is disrupted. This pandemic had pushed the manufacturers to think of new strategies to maintain a presence in the market. The market may face the challenge due to long term changes in consumer behavior towards food products. Safety of the food product will be the core concern for the consumers, the companies to focus more on food safety and clean label products to meet the demand of the consumers.