The Asia-Pacific bakery ingredients market is expected to register a CAGR of 7.2% during the forecast period, 2018 - 2023. The market is driven by the rising demand of processed bakery products, with growing awareness among consumers for clean label products as well as health ingredients.
Consumer Preferences for Bakery and Pastry - Driving the Bakery Ingredients Market in the Region
The rise in disposable income coupled with adoption of western lifestyles is expected to drive the growth of bakery products market in Asia- Pacific. Owing to rise in prevalence of time bound consumers, there has been a rise in the demand for functional bakery products. Growing affluence of middle income groups in emerging countries has created more scope for artisanal bakeries which offer customize products such as brownies, cookies, pastries and croissants, among others. The World Health Organization has recognized that food containing fatty acid trans-isomers and saturated fatty acids have adverse effects on human health. The drawbacks pertaining to the ingredients is expected to restrain the growth of bakery ingredients market in Asia-Pacific.
Enzymes Segment to record Highest CAGR Rate during the Forecast Period
The bakery ingredient market is segmented by enzymes, flour, sweetener, emulsifiers, leavening agents, preservatives, mixes, dairy ingredients, fats & oils/shortenings, colors & flavors, and other ingredients. The mixes, preservatives, and leavening agents segment accounted for share of 9.90%, 5.10%, and 1.60% in the total market value. The flour/starch segment is expected to record a CAGR of 7.6%, while enzymes are likely to register highest CAGR of 9.7% during the forecast period.
By application, the cookies & biscuits segment is likely to register CAGR of 7.8% during the forecast period, owing to increasing demand of healthy snacks in biscuit category, especially made from oats and millets.
By geography, the Australian bakery ingredient market was valued at USD 1.66 billion in 2016 and is likely to register strong growth during the forecast period.
- March 2017 - Puratos opened Asia Development Center, which will be staffed with international experts and sensory analysis laboratory a Sensobox mobile sensorial laboratory, an Industrial Competence Centre, a long-term research laboratory and a chocolate cafe and bakery cafe.
- August 2016 - One of the leading global players of ingredient solutions Ingredion, recently completed the acquisition of the rice starch and rice flour business from Thailand based company Sun flour industry.
Reasons to Purchase this Report
- Analyzing outlook of the market with the recent trends and Porters five forces analysis
- Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
- Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)
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1.1 Key Deliverables of the study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.2 Research Designs
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modelling
2.4.4 Expert Validation
3. Market Dynamics
3.1.1 Increasing Demand for Convenience Foods
3.1.2 Consumer Preferences for Bakery and Pastry
3.2.1 Health Concerns
3.3.1 Rise in Clean Label Products
3.4 Porters Five Forces Analyses
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4. Market Segmentation
4.1 By Ingredients Type
4.1.3 Leavening Agents
4.1.4 Fats, Oils and Shortenings
4.1.6 Colors and Flavors
4.1.8 Dairy Ingredients
4.2 By Application
4.2.2 Cakes and Pastry
4.2.3 Rolls and Pies
4.2.4 Cookies and Biscuits
4.3 By Geography
220.127.116.11 Rest of Asia-Pacific
5. Competitive Landscape
5.1 Market Share Analysis
5.2 Most active companies in the past five years
5.3 Strategies Adopted By the Leading Players
6. Company Profiles
6.1 Archer Daniels Midland (ADM)
6.2 Associated British Foods (ABF)
6.3 Cargill Inc.
6.4 CHR Hansen
6.5 Corbion N.V
6.6 Dawn Foods Ltd.
6.9 Kerry Group
6.12 Tate & Lyle