(I-BusinessNews.Com, June 19, 2017 ) The North America Bakery Ingredients Market was worth $3.02 billion in 2016 and estimated to be growing at a CAGR of 5.18%, to reach $3.89 billion by 2021. Bakery ingredients such as baking powder, butter, baking soda, flour, eggs, fruits, nuts, honey, flavour enhancers and colour additives are used in the bakery products to improve their overall product quality, to save time and for longevity.
Bakery Ingredients are accessible in an extensive variety and inclinations vary from one region to another. Easy access of international data and exposure of several bakery products has augmented the demand for bakery ingredients. Some of the most normally found bakery ingredients are baking powder, butter, baking soda, flour, eggs, fruits, nuts, honey, flavour enhancers and colour additives.
The growth of the North America Bakery Ingredients market is majorly driven by factors such as rise in demand for bakery ingredients, and shifting lifestyles which leave little to no time to cook meals. The key restraint of the market is the high sugar and carb levels in the baked products which lead to health problems. The diabetic epidemic is a key heath issue throughout the world and it has been escalating, especially in middle income families, who are the chief consumers of bakery products.
The North America Bakery Ingredients market is segmented based on Application and Type. The market for Bakery Ingredients, on the basis of Application, is classified into Cookies & Biscuits, Cakes & Pastries, Rolls & Pies, Bread, Torts, and Others. On the basis of Type, the Bakery Ingredients market is segmented into Enzymes, Baking Powder & Mixes, Colours & Flavours, Starch, Oils & Shortenings, Leavening Agents, Emulsifiers, Sweeteners, Mould Inhibitors, Preservatives, and Others. The bread segment leads the Bakery Ingredients market under the application segment. However, the cakes & pastries segment is anticipated to grow at the highest CAGR due to growing demand from emerging economies. In terms of type, the baking powders & mixes segment leads the market, followed by oils, & shortenings. However, the enzymes segment is projected to grow at the highest CAGR in terms of worth. Ingredients presenting similar functionalities are engaging in an aggressive rivalry due to raw material unavailability and production expenses. For example, use of enzymes in baking limits the progress of emulsifiers in baking applications.
The North America market has been geographically segmented into USA and Canada. People in the developed countries have become mindful towards content in the food products and inspect the ingredients being utilised by companies. This high-level of cognizance has led to the demand for low-calorie, and low-fat food in this region. As bakery products are linked with obesity, gastrointestinal ailments, and diabetes, companies are financing to create several nutritional, fat-free products, thereby driving the market in this region.
This industry is extremely influenced by the macro-economic state of an economy, as the intake of fancy bakery products drop sharply due to economic slumps. Also, the industry is exceedingly competitive in nature, and continuous innovation of products is absolutely essential to withstand the market. The major companies dominating the Bakery Ingredients market in this region are 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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