According to the report Europe Bakery Ingredients Market, published by Market Data Forecast, The Market was worth $4.04 billion in 2016 and estimated to be growing at a CAGR of 5.26%, to reach $5.21 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.
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The growth of the Europe 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.
Europe Bakery Ingredients Market: Segmentation
By Application
· Cookies & Biscuits
· Cakes & Pastries
· Rolls & Pies
· Bread
· Tarts
· Other Applications
By Type
· Enzymes
· Baking Powder & Mixes
· Colours & Flavours
· Starch
· Oils & Shortenings
· Leavening Agents
· Emulsifiers
· Sweeteners
· Mould Inhibitors
· Preservatives
· Others
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The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. Europe is the largest market for Bakery Ingredients due to the high rate of production and intake of baked food items. People in Europe 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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