Market Research Report
Global Bakery Premixes Market - 2021-2028
|Global Bakery Premixes Market - 2021-2028|
Published: August 6, 2021
Content info: 180 Pages
Delivery time: 2 business days
Bakery premixes are ready-made ingredients that help bakers reduce the time of preparation of products and deliver high-quality finished products that meet the expectations of consumers. The amalgamation of two or more ingredients led to huge popularity of bakery premixes. In general, bakery premixes contain portions of flour, enhancers and grains to which other baking ingredients such as sugar, fat and milk powder are added. The addition of bakery premixes decreases the baking time by minimizing the amount of tasks needed over a short period of time for the production of bakery items. The global bakery premixes market valued US$ XX billion in 2020 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX% during the forecast period (2021-2028)
Market Dynamics: Growing bakery market is driving the growth of the bakery premixes market
Rising bakery products market is the key driver of bakery premixes market. The demand in bakery premixes can be expected to be huge especially in those regions where bread is a staple food. For instance, in regions such as North America, where bread is a staple food, the per capita consumption of bakery products is expected to cross 40-50kg per year, and the global average consumption of bakery products range between 18-20 kg per capita per year. This consumption is expected to grow in the future, keeping urbanization in mind, which is leading to a competitive world with very less time available for people to work on self-care and so is the demand for bakery premixes market. Along with that the increasing trends of using ready-made ingredients has not only helped bakers reduce time of preparation of products but it also has helped working moms and non-bakers prepare products at home itself and hence bakery premixes can be expected to grow in demand not only for commercial purpose but also for residential purpose in the future.
Market Restraints: Stringent regulations imposed by food safety organizations, is increasing the time of production
Due to rising concern of quality food production raised by the citizens, a lot of rules are being added by the food safety organization. Some of the rules which can result in straight away rejection of consignment are the reason why steps of processing the products for quality check has increased. This of course increases the quality of products but at the same time, it also increases the production time, which ultimately impacts the delivery time of the product. Hence, imposition of such rules by the food safety management is a hindrance to the market.
Market Segments: Powdered premixes providing Dough-based Mixd benefits and easy dosage for packaging
The market is segmented into powder, gel, paste and syrup. Premixes in powdered form is the proliferating segment in the market and likely to be proliferating in the future too. This is because, powdered premixes minimize the number of production stages needed, as no pre-hydration or pre-emulsification is required. They are simple to work with during recipe engineering in a compact powder form and easy to dose during manufacturing and packaging. When it comes to cake premixes, with powdered premixes in the mix, the batter can hold high volumes of liquid oil, without changing the mouth feel.
Geographical Penetration: United States led North America to the top of Bakery Premixes Market
North America evolved as the largest consumer of bakery premixes and account for the largest share in the global bakery premixes market. According to Baker's associations in the United States, the U.S. per capita intake is estimated to hit an average of 46 kg per year, which is twice more than the world average of 18 kg per year. While, According to the data provided by the Federation of Bakers representing the producers of bread and bakery products in the United Kingdom, Europe is estimated to have a bread market worth almost 32 million tons on an average. In several European nations, bread production is on a steady track. So, with the steady growth in the bread and bakery products in these regions, the bakery premixes market is expected to grow more in the region of North America, followed by Europe.
Competitive Landscape: Wide range of bakery premixes manufacturers made the market competitive
The global bakery premixes market is highly competitive with some of the pioneer and new emerging players in the market. Key players like Oy Karl Fazer AB, Archer Daniels Midland, Puratos, Corbion, Bakels Group, Nestle, Cargill, Nisshin Seifun Group, Inc., KCG Corporation, and Swiss Bake Ingredients adopted the strategy of acquisitions, merges, partnerships and investment in multiple sectors. For instance, recently in 2020, Archer Daniels Midland partnered with Corbion to launch a new variety of bakery premix. In April 2019, Puratos launched four new premixes Tegral Satin Purple Velvet EF, Fruitfil Range, Carat Supercrem Nutolade, and Tegral Red Velvet Sponge in Indian market
COVID-19 Impact: Pandemic had a positive impact on the global bakery premixes market
The COVID-19 pandemic had a positive impact on the global bakery premixes market, both in terms of short-term demand hike and considerable demand upsurge in near future. The bakery industry witnessed an increase in sales volume in 2020 due to factors such as panic buying, affordable nutrition provided by bakery products and safety assurance of packaged bakery goods. This has led to increased demand for bakery premixes from bakers and other food processing companies. However, the unprecedented demand resulted in temporary disruptions in bakery supply chain in first half of 2020, thus offsetting the market growth. Also, the portion of bakery product sales in the food service industry is weak owing to closure of restaurants and cafes. This is likely to pose a negative impact on the global bakery premixes market