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Bakery additives are used in food and bakery products for increasing the shelf life and safeguarding them from microbial spoilage. These additives are useful in preventing unnecessary humectants and bacteria contamination in baked goods and preventing the food from drying. The demand for bakery additives is anticipated to witness a swift rise during the forecast period, due to the rapidly growing demand for bakery products, coupled with increasing utilization of bakery additives in bread, cakes, and pizza crusts to maintain natural flavors and reduce their baking time. The presence of several functional properties in bakery additives is expected to drive their demand in the manufacturing of bakery products, which in turn is projected to fuel their market growth during the forecast period (2019-2026). Regulatory bodies such as the U.S. Department of Agriculture and the Food and Drug Administration regulates the bakery additives for ensuring the freshness and safety of the product, texture and appearance of the product, and the product’s nutritional content.
Increased demand for convenience and processed food across the globe is escalating the demand for bakery products, which in turn is expected to help the growth of the bakery additives market. Launch of advanced and new products by many market players operating in the global bakery additives market and increasing use of bakery additives in baked products is projected to fuel the market growth of the bakery additives market.
Key Market Driver -
Increasing demand for processed and baked food products across the globe is expected to drive the market growth.
Key Market Restraint -
Use of bakery additives in bakery products can cause chronic diseases such as cancer, heart diseases, and obesity.
Key players operating in the global bakery additives market are collaborating with each other and focusing on new and innovative product launches in order to maintain their market prominence. For instance, In March 2019, Corbion N.V. signed an agreement to acquire Granotec do Brasil S.A., which is one of the crucial manufacturers of functional blends for the Brazilian bakery industry. The acquisition was worth USD 45 million.
Rising demand for convenient food products due to busy daily schedules and growing demand for unconventional and unique baked goods such as gluten-free biscuits, low trans-fat containing bread, and other bakery products is projected to contribute in expanding the market size of global bakery additives market. Increased consumption of organic bakery products among consumers due to rising disposable income, changing standards of living, rising environmental concerns is further projected to fuel the growth of the global bakery additives market during the forecast period (2019-2026). However, stringent regulations associated with commercialization and use of bakery additives such as flavors and artificial colorants, that can lead to chronic diseases including obesity, heart diseases, and cancer, can obstruct the market growth during the forecast period (2019-2026).
Some of the major companies that are present in the global bakery additives market are Puratos Group SA, David Michael & Co., Palsgaard A/S, E. I. du Pont de Nemours and Company, Kerry Group, Associated British Foods Plc., Corbion N.V., Archer Daniels Midland Co., Lonza Group, Sensient Technologies, DDW The Color House, and CSM Bakery Solutions.
Among the product type, the emulsifiers segment is projected to witness continuous demand growth during the forecast years, as emulsifiers are very helpful in improving the texture and quality of the final bakery product. The enzymes segment is expected to grow at a decent pace during the forecast period, attributed to increasing restrictions on chemical additives and growing acceptance of natural and safe food additives.
On the basis of application, the global bakery additives market has been segmented into bread, cakes and pastries, biscuits, and others. The application of bakery additives in bread and bread products is projected to be higher as the demand for these products is high in developed as well as developing economies. Furthermore, increasing demand for fortified, gluten-free, and high in fibre bread products is projected to fuel the growth of the segments during the foreseeable years.
Europe is projected to dominate the global bakery additives market during the forecast years, owing to the shifting consumer’s inclination towards fitness and health which is aiding the demand for ready to eat products which has low calories and are healthy. Bakery additives are mostly used for reducing the carbohydrates and fats content for making the bakery product healthy and nutritious which is driving the Europe bakery additives market.
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The market in Asia Pacific is expected to grow at a rapid pace during the forecast years, due to significant growth in the food processing industry of this region, attributed by a growing population of the major economies of Asia Pacific region including China and India. Innovation in food technology and rising government support for using bakery additives in bakery products is further anticipated to drive the bakery additives market across the Asia Pacific.
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