The global Food Ingredients for Bakery Market size is expected to reach USD 174.15 Billion in 2030 and register a revenue CAGR of 6.7% over the forecast period, according to latest report by Reports and Data. Rising consumer inclination towards healthy and nutritious diet and rapid implementation of advanced technologies, along with increasing innovations of new functional ingredients, are factors expected to drive market revenue growth during the forecast period.
Increasing consumer preference for vegan, vegetarian, and cruelty-free food ingredients is expected to boost growth of the global Food Ingredients for Bakery Market in near future. Currently, a large section of consumers are avoiding all animal products, which is leading to increasing demand for meat-free and dairy-free food ingredients. Additionally, increasing research initiatives to substitute animal food with plant-based and vegan food products to provide sustainability with natural ingredients and quality nutrition is another important factor expected to drive growth of the market over the forecast period.
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Top Companies Operating in the Global Food Ingredients for Bakery Market Report:
Cargill, Incorporated, Gelita AG, International Flavors & Fragrances, Inc., Symrise AG, Givaudan, Kerry Group, Archer Daniels Midland Company, Hermes Sweeteners Ltd., Corbion N.V., and Tate & Lyle Plc.
Driving Factors of Food Ingredients for Bakery Market
· Increasing consumer demand for healthier and natural food ingredients: Consumers are increasingly looking for food ingredients that are natural, organic, and free from artificial additives and preservatives. This trend has led to a growing demand for natural food ingredients such as plant-based proteins, natural sweeteners, and natural colors.
· Growing demand for convenience foods: The busy lifestyles of consumers have led to a growing demand for convenience foods that are easy to prepare and consume. This has created a demand for food ingredients such as flavor enhancers, emulsifiers, and texturizers that improve the taste, texture, and shelf life of packaged foods.
· Growing awareness about the benefits of functional ingredients: Functional ingredients such as probiotics, prebiotics, and antioxidants are increasingly being added to food products to enhance their nutritional value and health benefits. Consumers are becoming more aware of these benefits and are willing to pay more for food products that contain these ingredients.
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The global Food Ingredients for Bakery Market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Ingredient Type Outlook (Revenue, USD Billion; 2018-2030)
- Vegetable Oils & fats
- Natural Sweeteners
- Natural Flavorings & colors
- Enzymes & Antioxidants
- Functional Ingredients
- Others
Application Outlook (Revenue, USD Billion; 2018-2030)
- Chocolates & Confectionery
- Bakery
- Frozen Foods
- Functional Foods
- Others
Benefit Outlook (Revenue, USD Billion; 2018-2030)
- Immunity
- Weight Management
- Bone & Gut Health
- Cardiovascular Health
- Others
Key Questions Addressed in the Report:
· What are the dominating factors that are influencing the growth of the industry?
· In the forecast period, which market segment is expected to rise the most?
· What are the risks and challenges that the industry is facing?
· In the coming years, which area is projected to dominate the market?
· Who are the major players in the market? What kind of strategic business plans have they made?
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