The global bakery premixes market was estimated at USD 1.18 billion in 2017 and is expected to grow at a CAGR of 4.27% from 2017 to 2025, to reach a value of USD 1.65 billion by 2025. The market growth is attributed to the increasing demand for customized bakery products among the consumers especially in the developed and developing countries.
The U.S., UK, Germany, China, Italy, and Russia, are the major consumers of bread and bakery products. The continuous demand and popularity of such products is expected to drive the demand for the baking premixes market. Use of these premixes has resulted in effortless baking of a lot of varieties of bread and bakery products. The market is gaining an increasing traction especially among the manufacturers due to the reliable and hassle-free production.
The U.S. bread and bakery products market is gaining an increasing momentum primarily driven by the spurring demand for bread products containing high fiber such as wholegrain, or diet and healthy biscuits and cookies. Consumers’ shift towards healthy lifestyle practices will boost the demand for these kind of products, which in turn is expected to drive the production of premix ingredients to meet the requirements.
The average spending of the U.S. households on bakery products per household is expected to increase to USD 383.75 by 2021, wherein most of this expenditure will be on bread products, followed by cakes and cupcakes. This scenario is likely to offer lucrative opportunities for the bakery premixes market to grow in the coming years.
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Growing demand for various bakery products such as donuts, pies, pastries, breads, cakes and others, is expected to drive the premixes market growth. This industry is expected to continue growing over the next few years, supported by various factors such as, variety of product innovations, availability of food items at reasonable prices, rapid urbanization, busy lifestyles, and convenience of baked products. The simultaneous growth in the bakery industry is expected to impact the acceptance of premixes market to speed up the production processes.
Rising popularity of products such as whole grain, trans-fat free and multi grain along with increasing demand for flavor preferences are also expected to contribute to the growing acceptance of these premixes among the manufacturers. Increasing consumption of bread based products in India and Australia, is expected to be one of the major factors contributing to the premixes market expansion during the forecast period.
Increasing inclination towards breads, bread rolls, pastries, cakes, pies, pretzels, cookies, crackers, and tortillas is expected to result in the significant application of bakery premixes, over the forecast period. Bread is expected to continue its growth and will remain the most widely consumed bakery product worldwide, whereas pastries and cakes are expected to witness the fastest growth in the coming years.
The introduction of different flavors, rising disposable income, popularity of bakery products in Asia Pacific and Latin America will drive the demand for pastries over the forecast period. Moreover the demand for donuts will considerably increase on account of an indulgence factor and the introduction of modern chains in countries such as China, India and Brazil. These factors are expected to contribute to the prominent growth of the global bakery premixes market over the forecast period.
Key players operating in the global market include Archer Daniels Midland Company, Enhance Proteins LtdEchema Technologies LLC, Puratos, Karl Fazer Ab., Allied Mills, Swiss Bake Ingredients Pvt Ltd, Lesaffre, and Bakels Worldwide to name a few. While premixes for various bakery products such as cookies, cakes and pastries have always been popular among working women, they are now gradually becoming popular among the manufacturers too. This scenario has prompted the companies to introduce premixes for all bakery products such as puff pastries, multi-grain breads and lava cakes.
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Hexa Research has segmented the global bakery premixes market report based on product, application and region:-
Segmentation by Product
- Complete Mix
- Dough-based Mix
- Dough Concentrates
Segmentation by Application
- Bread Products
- Non-Bread Products
Segmentation by Region
- Central and South America
- Middle East and Africa
SOURCE: Hexa Research