Bakery Premixes Market Forecasts to 2030 – Global Analysis By Type (Complete Mix, Dough-Base Mix, Dough Concentrates and Other Types), Category (Conventional Baking Premixes, Gluten Free Baking Premixes, Organic Baking Premixes, Vegan Baking Premixes, Spe

Bakery Premixes Market Forecasts to 2030 – Global Analysis By Type (Complete Mix, Dough-Base Mix, Dough Concentrates and Other Types), Category (Conventional Baking Premixes, Gluten Free Baking Premixes, Organic Baking Premixes, Vegan Baking Premixes, Specialty Baking Premixes and Other Categories), Application and by Geography

According to Stratistics MRC, the Global Bakery Premixes Market is accounted for $414.72 million in 2023 and is expected to reach $710.76 million by 2030 growing at a CAGR of 8.0% during the forecast period. Bakery premixes are handy concoctions of ingredients that make baking easier for both home and commercial bakers. Typically, these premixes consist of flour, sugar, leavening agents, and occasionally flavorings or additives. Bakers can ensure consistent quality in their baked goods while saving time by utilizing bakery premixes instead of measuring and mixing individual ingredients. Moreover, bakery premixes are widely used in the baking industry due to their versatility and dependability, as they can be used for a variety of baked goods, including bread, pastries, and cakes.

According to the American Bakers Association, the demand for bakery premixes continues to rise steadily due to their convenience and ability to streamline production processes in commercial bakeries.

Market Dynamics:

Driver:

Increasing convenience food demand

The growing demand for convenience foods is driving significant growth in the market for bakery premixes. Convenient options are becoming more popular among consumers due to factors like busy lifestyles, shifting dietary habits, and the need for quick and simple meal solutions. With bakery premixes, baking is simplified because there's no need to measure and combine individual ingredients. Furthermore, they appeal to customers looking for convenience without sacrificing flavor or texture because they consistently deliver high quality and taste.

Restraint:

Difficulties with sourcing ingredients and maintaining quality

The difficulty of obtaining ingredients and ensuring a constant level of quality is one of the main obstacles facing the bakery premix market. Various raw materials, such as flour, sugar, leavening agents, and flavorings, are used in bakery premix manufacturing. Managing seasonality and agricultural fluctuations, as well as sourcing from multiple suppliers, can make it challenging to maintain a stable supply chain for these ingredients. Additionally, in order to avoid variations in product quality, it is imperative to maintain stringent quality control standards across various suppliers and batches.

Opportunity:

Increasing innovation and product portfolio

Expanding product offerings and ongoing innovation present opportunities for the bakery premix market. By creating new recipes and variants of bakery premixes, manufacturers can profit from consumer trends like the desire for healthier options, ethnic flavors, and premium ingredients. In order to satisfy the growing number of customers who are health-conscious, this includes providing gluten-free, organic, and clean-label options. Moreover, bakery premixes can be made to stand out from the competition and appeal to a wide range of consumer tastes by adding distinctive flavors, textures, and inclusions.

Threat:

Fierce rivalry and pressure on prices

The market for bakery premixes is primarily threatened by fierce competition and pricing pressure. There are many different players in the market, ranging from big international companies to small-scale producers and regional suppliers. Price wars and margin pressure are frequently the results of this fierce competition, especially in price-sensitive markets like mass-market retail and the foodservice sector. Additionally, the competition is further heightened by the emergence of generic substitutes and private label brands, which makes it difficult for producers of bakery premixes to retain market share and profitability.

Covid-19 Impact:

The market for bakery premixes has been impacted by the COVID-19 pandemic in a number of ways. A shift in consumer behaviour toward baking at home during lockdowns drove demand for bakery premixes, even as initial disruptions in supply chains and production processes resulted in brief shortages and delays. However, sales volume for industrial bakery premixes decreased as a result of foodservice establishment closures and decreased foot traffic in retail stores. Furthermore, consumers prioritized necessities and looked for value-for-money products, which was influenced by shifts in consumer spending patterns and economic uncertainty.

The Complete Mix segment is expected to be the largest during the forecast period

The complete mix segment is projected to hold the largest share. For bakers, Complete Mixes provide a one-stop shop since they include all the necessary ingredients in one easy-to-mix blend, including flour, sugar, leavening agents, and flavorings. Because it is versatile, easy to use, and consistently high-quality, this segment is preferred by bakers who work in both commercial and home settings. Moreover, whole mixes simplify baking, saving time and effort and guaranteeing consistent results, whether they are used for cakes, cookies, bread, or pastries.

The Gluten Free Baking Premixes segment is expected to have the highest CAGR during the forecast period

Within the bakery premix market, gluten-free baking premixes have the highest CAGR. This market provides products to meet the rising demand for gluten-free options due to dietary preferences, celiac disease, and increased awareness of gluten intolerance. Customers with gluten sensitivity can enjoy a wide range of baked goods without sacrificing taste or texture thanks to gluten-free baking premixes. Furthermore, producers in this market niche concentrate on creating premixes with natural binders and stabilizers, rice, almond, or chickpea flour, and other flours that mimic the characteristics of gluten-containing ingredients.

Region with largest share:

In terms of market share for bakery premixes, the North American region is anticipated to hold the largest share. Numerous elements contribute to this dominance, such as the well-established infrastructure of the bakery industry, the strong demand from consumers for quick baking solutions, and the existence of top producers of bakery premixes. The robust market position of North America in the bakery premixes sector is attributed to elements like hectic lifestyles, a growing inclination towards readily-useable ingredients, and a varied culinary scene. Additionally, ongoing product innovation, calculated marketing campaigns, and R&D expenditures support the region's dominant position in the market, contributing significantly to the global bakery premixes market's growth and expansion.

Region with highest CAGR:

In the bakery premix market, the Asia-Pacific region is projected to have the highest CAGR. Increasing urbanization, rising disposable incomes, shifting consumer lifestyles, and an increase in the demand for convenient food options are some of the factors contributing to this rapid growth. Manufacturers of bakery premixes have a lot of opportunities to expand into new markets and serve a wide range of consumer preferences, thanks to the growing bakery industry in emerging economies like China, India, and Southeast Asia. Moreover, the Asia Pacific region's need for bakery premixes is also fuelled by the adoption of Western dietary habits, a growing foodservice industry, and rising consumer awareness of baking convenience.

Key players in the market

Some of the key players in Bakery Premixes market include General Mills Inc., Bakels Group, KCG Corporation Co., Ltd, Kerry Group, Archer Daniels Midland Company (ADM), Midas Foods International, Cargill, Incorporated, Puratos Group, Nestlé S.A, DSM, Nisshin Seifun Group Inc., Watson Inc., Swiss Bake Ingredients Pvt. Ltd., Corbion and Manildra Group.

Key Developments:

In April 2024, Archer Daniels Midland and Vikram Luthar entered into a Transition Agreement under which Mr. Luthar will resign effective September 30, 2024. Until such resignation date, Mr. Luthar will be available to assist the Company and provide transitional support as needed, as a non-executive employee.

In December 2023, Taste-and-nutrition firm Kerry Group has entered into an agreement to acquire the lactase enzyme business of Danish bioscience companies Chr Hansen and Novozymes, for a total consideration of €150 million. The acquisition, to be carried out on a ‘carve-out basis’, comprises part of the global lactase enzyme business of Chr Hansen and 100% of the share capital of Nuocheng Trillion Food (Tianjin) Co., Ltd, a Chinese subsidiary of Novozymes.

In June 2023, Singapore-based Cargill Metals has entered into a multiyear agreement with Sweden-based industrial startup H2 Green Steel for the supply of green steel. The companies say the agreement aims to accelerate global ferrous supply chain decarbonization.

Types Covered:
• Complete Mix
• Dough-Base Mix
• Dough Concentrates
• Other Types

Categories Covered:
• Conventional Baking Premixes
• Gluten Free Baking Premixes
• Organic Baking Premixes
• Vegan Baking Premixes
• Specialty Baking Premixes
• Other Categories

Applications Covered:
• Bread Products
• Bakery Products
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances