Impact Assessment of COVID-19 Outbreak on Baking Ingredients Market
The global baking ingredients market is projected to witness a steady trajectory of growth over the coming years. According to Transparency Market Research (TMR), the competitive landscape of the overall baking ingredients market is predicted to be a tough due to presence of numerous players – big and small. It would also lead to consolidation in which large players will gobble up their smaller counterparts. Astute players in the market are banking upon technological advances to differentiate their products and lower manufacturing and packaging costs too. The vendors compete on factors such as quality, service, distribution, innovation and price, impelling them to adopt a unique product and service manifesto. Leading vendors in the global baking ingredients market are Associated British Foods Plc, Archer Daniels Midland Company, Muntons Plc, CSM Bakery Solutions, Cargill Incorporated, and Macphie of Glenbervie Ltd.
Request PDF Brochure :https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1590
TMR’s report estimates that the global bakery ingredients market, valued at US$11.7 bn in 2015, will attain a value of US$181.1 bn by the year 2024. Thus, over the forecast duration of 2016 to 2024, the worldwide bakery ingredients market is prognosticated to witness a 4.9% growth rate. Based on geography, the Asia Pacific market is anticipated to showcase immense potential for growth.
REQUEST FOR COVID19 IMPACT ANALYSIS : https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=1590
Rising Adoption of Western Food Habits to Present Market Opportunity
Due to the tremendous consumer demand for healthy and nutritional ingredients in baked foods, the use of whole grain, low sugar and zero trans-fat per serving is in high demand. The rising rate of obesity and the aging population have propelled the use of nutritional ingredients to the forefront. Moreover, the perpetual demand for ready-to-eat food is predicted to fuel the bakery ingredients market too. The shifting consumer inclination from conventional home cooked food to convenience, ready-to-eat foods is also a key factor offering numerous growth opportunities to bakery ingredients in the emerging markets. Adoption of westernized lifestyle, double income families, emphasis on healthier lifestyles, greater nutrition awareness, and increase in disposable income are the major factors that are responsible for the growth in baked foods industry, which in turn will drive the demand for the bakery ingredients manufacturers.
Explore Transparency Market Research’s award-winning coverage of the global Industry:
https://www.prnewswire.com/news-releases/ethylene-propylene-diene-monomer-epdm-market-to-reach-us-6-2-bn-by-2027-shift-towards-bio-based-materials-to-drive-market-growth-tmr-301001833.html
his review is based TMR’s report titled, “Baking Ingredients Market (Ingredients – Yeast, Baking Powder and Baking Soda, Flour, Sweeteners, Flavor & Color Additives, and Fats; Products – Bread, Biscuits and Cookies, Cakes and Cupcakes, Pastries and Pie, Pizza and Buns, and Bagels and Donuts; Sector – Organized Sector and Unorganized Sector) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”Top of Form
Key Takeaways:
- Adoption of western lifestyle is expected to play a key role in the growth of emerging markets
- Demand for color and flavor additives is expected to grow due to its increasing use in exotic and luxury bakes
The market is segmented along the following lines:
Global Baking Ingredients Market: By Ingredients Type
- Yeast
- Baking Powder and Baking Soda
- Flour
- Sweeteners
- Flavor & Color Additives
- Fats
- Others
Global Baking Ingredients Market: By Product Type
- Bread
- Biscuits & Cookies
- Cakes & Cupcakes
- Pastries & Pie
- Pizza & Buns
- Bagels & Donuts
- Others
Global Baking Ingredients Market: By Sector
- Organized Sector
- Unorganized Sector
About Us:
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
