PUBLISHER: DataM Intelligence | PRODUCT CODE: 1325311
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1325311
Global Bakery Premixes Market reached US$ 228.8 million in 2022 and is expected to reach US$ 343.2 million by 2030 growing with a CAGR of 5.2% during the forecast period 2023-2030. The demand for bakery premixes is increasing as they are widely used in different bakery products such as cakes, Biscuits, breads, muffins, and others.
It consists of a blend of ingredients which include dry ingredients such as flour, sugar, baking powder, and others in proper proportions. The use of premixes for baking food products helps to reduce the number of raw materials and time required for making the finished product. They provide similar consistency and convenience as the complete mixes.
Key players are also focusing on brand improvement, product innovation, and launches to increase revenue and market share. For instance, on June 2022, Miss Jones Baking Company, a California-based company, also launched an organic keto chocolate cake mix for the market. Other premix concepts such as "mug cake" also gained popularity in recent years. This launch can help in raising the global bakery premixes market share value.
Growing Demand for Bakery Products is Estimated to Drive the Bakery Premixes Market Growth.
Bread, cake, and muffins have been a part of the diet as it provides convenience, as there are available for ready-to-eat, people are becoming more willing to buy bakery items made with natural ingredients. Bakery premixes such as cake premixes, cookie premixes, pancakes, waffle mixes, and some others are used in the preparation of bakery products.
According to the Atlantic Healthy Food Ecosystem Report 2022, the consumption of bread and bakery products on average is 57 kg per person per year in Europe. As bread provides dietary fiber, which helps in controlling blood sugar and cholesterol levels. Consequently, the market for bakery premixes would increase more during the forecast period 2021-2026.
Increasing Product Launches are Driving the Market Growth.
The continued popularity of cakes, bread, biscuits, muffins, and others as household staples is attributed to the fact that consumers who have less time are willing to consume them. Major rivals are working assiduously to meet this demand by expanding their product offerings and keeping consumers' health in mind, which is driving the table butter market growth.
The bakery premixes are used in different varieties such as bread, biscuits, cakes, and some others. Increasing product launches are drivingthe market growth. For instance, in April 2022, Vitafoods, an Indian-based company launched a new product Stern vitamin premix composed of micronutrients. This launch can help in raising the demand for the global bakery premix market.
Over Consumption of Bakery Premixes Leads to Obesity which Impledes the Market Growth.
Overconsumption of bakery premixes can cause various adverse effects such as heart disease, diabetes, certain types of cancer, and obesity. The World Obesity Federation's 2023 atlas predicts that 51% of the world, or more than 4 billion people, will be obese or overweight within the next 12 years. This causes restrain to the global bakery premixes market.
Other factors that affect the growth of the market include bakery premixes containing high sugars, high calories, high percentages of refined carbohydrates, unhealthy fats, and added artificial additives, regular consumption of these bakery premixes reduces the intake of dietary fibers, vitamins, minerals, and other components.
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
The global bakery premixes market is segmented based on product form, type, end user, and region
In the Global Market of Bakery Premixes, the Powdered Premixes Segment Holds the Largest Market Share.
The global bakery premixes market has been segmented by product form into powder, paste, syrup, and gel. The powdered segment held the largest bakery premixes market share of 35.8% in 2022 in the bakery premixes market analysis report. Consumers are becoming more eager to spend money on high-end products, and ready-to-eat foods.
Powdered premixes are widely used for bakery applications such as bread, cakes, muffins, pastries, and some others. And also they offer consistent and standardized formulations for bakers. It has a longer shelf life, easy to transport, provides convenience, and easy availability can help in driving the global bakery premixes market size.
The North America Region Held the Largest Share of the Bakery Premixes Market.
The global bakery premixes market is segmented into five parts of the world based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North America bakery premixes market held the largest market share of 42.6% in 2022 in the bakery premixes market analysis. The growing urbanization and rising purchasing power of the users are leading to the increasing market chances for bakery premixes over the forecast period.
Increase awareness about ready-to-eat foods, changes in consumer lifestyle, and monetary factors that affect population purchasing power, and are the main factors influencing bakery premixes consumption across North America. An increase in the production of premixes such as bakery mixes, flour mixes, cake premixes, and bread premixes is increased demand for bread, biscuits, muffins, and cakes in this region.
The major global players in the market include Nestle S.A, Puratos Group, Bakels Group, Cargill, Oy Karl Fazer Ab, General Mills, Inc, KCG Corporation Co, Ltd, Archer Daniels Midland Company, Austrian Premix, and Manildra Group.
The unprecedented COVID-19 pandemic in 2020 profoundly affected the bakery premixes industry. COVID-19 has had a considerable impact on the phases of the global bakery premixes chain that involve bakery premixes production, processing, distribution, and consumption as a result of lockdowns and restrictions imposed by various governments.
Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry in the world, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence and could have an impact on interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.
The COVID-19 pandemic issue has had an impact on the bakery premixes industries as well. The COVID-19 pandemic is upending life, and the bakery processing sector is seeing an increase in trends like pancake and waffle mixes, and muffin premixes. The bakery premixes businesses are launching innovative programs, including donut premixes, cookie premixes, pastry premixes, and others. Which are readily available and simple to consume.
The global bakery premixes market report would provide approximately 60 tables, 66 figures and 190 Pages.
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