Asia-Pacific Bakery Ingredients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Bakery Ingredients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific bakery ingredient market is projected to grow at a CAGR of 7.19% during the forecast period of 2020-2025.

Key Highlights

• The Asia-Pacific bakery ingredient market is driven by the rising demand for processed bakery products, with growing awareness among consumers for clean label products and healthy ingredients.
• There is an increasing demand for gluten-free bakery products, thus bolstering the demand for gluten-free flour in the region. Companies are investing significantly in innovation-driven projects, to cater to consumer demands, with special focus on functional bakery ingredients, including high fiber, fat replacer/substitute, fortified flour, and starches.

Key Market TrendsFlavors and Colors hold a Prominent Market

With the growing demand for clean-label ingredients, in the region, the demand for natural flavors and colors in increasing at a faster pace. Red Cabbage is the most stable anthocyanin colouring in high heat, provides a lavender hue in cakes. DDW The Color House, a subsidiary of Dow DuPont for natural flavors and colors uses red beet in high dosage in Red Velvet Cakes, that will achieve visual appeal as it imparts off-flavors into the final product. Carmine is the best alternative to synthetic Red 40 (Allura Red) in red velvet cake due to its stability. Consumers concerned about gluten intolerance has increased the use of functional flours derived from rice and legumes as a bakery ingredient. Functional flours, containing starch and hydrocolloids, are gaining significant demand in gluten-free baked goods, as they usually replace the functionality of gluten.

India is the fastest growing market for Bakery Ingredients in the Asia Pacific Region

Indian bakery ingredient market was valued at USD 0.58 billion in 2018. Though there are several large and small scale organised units, manufacturing both bread and biscuits, most of the bakery products in India are being produced by unorganised small family units. Baked goods are now not restricted to bread, cake and biscuits but to other bakery products also. With the ventures of a few Companies like Britannia, Biskfarm, and Morish etc. competition has increased. Also, the Indian market is witnessing the proliferation of bakery café chains in the form of Barista, Café Coffee & Monginis etc. Muffins, puffs and other savoury products are also gaining popularity as younger populations often visit independent bakeries to relish snacks.

Competitive Landscape

Asia-Pacific bakery ingredients market is fragmented with several players. Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, Cargill, and Ingredion have a significant share in the emulsifiers segment. Puratos and Kerry Group also market emulsifiers for bakery products. These companies manufacture clean label emulsifiers also. DSM, Genencor International, and CHR Hansen are prominent players in the Enzymes market. The most active companies globally are Corbion, ADM, Frutarom, and Tate & Lyle. Corbion and ADM are the most active among all, and most preferred strategy is a product launch, followed by expansion.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Archer Daniels Midland company
E.I. du pont de Nemours and company
Cargill
Ingredion
Kerry Group
Lesaffre Group
Stern Ingredients Pvt. Ltd.
American British Foods Plc

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