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Bakery Premixes Market- Emerging Innovations Expected To Boost The Global Revenue
The global bakery premixes market size is estimated to be valued at USD 298 million in 2019 and is projected to reach USD 413 million by 2025, recording a CAGR of 5.6% during the forecast period. South America is the fastest-growing market and offers high growth prospects for bakery premixes manufacturers in the coming years. Due to the adoption of urbanized lifestyle in countries, such as Brazil and Argentina, the demand for bakery products remains high, thus driving the sales of bakery premixes in the region. In addition, in the mature markets of Europe and North America, consumers are opting for value-added products, such as whole-grain bread, ‘gluten-free,’ and organic, which is driving the sales of bakery premixes in these regions.
Key players in the bakery premixes market include Oy Karl Fazer AB (Finland), Archer Daniels Midland Company (US), Puratos (Belgium), Corbion (Netherlands), Bakels Group (Switzerland), Nestle (Switzerland), Cargill (US), Nisshin Seifun Group Inc. (Japan), KCG Corporation, Swiss Bake Ingredients Pvt. Ltd. (Switzerland), Lesaffre (France), GK Ingredients (Malaysia), Premia Food Additives ...
... Pvt. Ltd. (India), Winner Group (Thailand), Midas Foods (US), Synova (Thailand), Heliofood (Malaysia), Watson Inc.(US), Limagrain (France), KCG Corporation (Thailand), Pondan (Indonesia), Trans Standard International (Malaysia), PT Sriboga Flour Mill (Indonesia), Winner Group (Thailand), Pt Gandum Mas Kencana (Indonesia), Heliofood (Malaysia) and Synova (Thailand), Dongguan Dongmei Foods Co. Ltd. (China), and GK Ingredients (Malaysia).
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• Increase in Demand for Customized Bakery Products to Reflect Positively on the Market Growth
• Availability of Multiple Ingredients From a Single Source to Encourage Investments By Key Players
• Multifunctional Features of Bakery Premixes to Drive Its Market Growth in Key Applications, Such as Bread, Cakes, and Pastries
• Increase in the Number of New Product Launches and Innovative Product Offerings By Key Players to Drive the Market Growth
• High R&D Investments for Bakery Premixes to Inhibit the Market Growth
• Rise in Number of Health-Conscious Consumers, Particularly in Developed Countries, to Discourage the Demand for Bakery Premixes
• The Growth of the Bakery Industry to Drive Market Growth
• Production of Bakery Premixes at Economical Prices
By type, the complete mix segment is projected to dominate the market during the forecast period.
Complete mix is widely preferred in the foodservice industry, as it requires end users to add water. The food service industry is projected to be a key revenue generator for this type of premix, as it serves as a cost-effective option for them. The food service industry is expanding both in developed and developing countries, which has encouraged bakery premixes manufacturers to enter this market in the years to come.
By application, the bread segment is projected to dominate the market during the forecast period.
Bread is a staple food product across several countries and has witnessed an increase in demand from the developing countries of regions, such as South America, Middle East & Africa, and Asia Pacific. In the mature markets of Europe and North America, bread manufacturers are focusing on developing products with value additions, such as ‘gluten-free,’ whole grain, and organic products.
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Europe is estimated to dominate the bakery premixes market, in terms of value.
Europe is projected to dominate the bakery premixes market due to the rise in the consumption of bakery products as a staple food product among consumers. The European bakery premix market is an established market, as key players have enhanced distribution channels, comply with regulations, develop innovative products, and align with consumer preferences.
Russia is projected to witness the highest growth in the European market during the forecast period. The demand for bread and bakery products in the country is projected to increase in the coming years, as consumers are adapting to the urbanized lifestyle which drives the sales of convenience food products. The consumption of bread remains the highest in the county, and the demand seems to be increasing in the coming years, as manufacturers are focusing on launching bread products with value addition for health-conscious consumers.
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