According to the report Global Bakery Ingredients Market published by Market Data Forecast, the global market is projected to reach USD 16.42 billion by 2021, at a CAGR of 5.40% from 2016 to 2021.
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Bakery ingredients such as baking powder, butter, baking soda, flour, eggs, fruits, nuts, honey, flavour enhancers and colour additives are used in the bakery products to improve their overall product quality, to save time and for longevity. For instance, in bread making yeast is a vital ingredient whose gas produced should be kept within the dough for enhanced results.
Bakery Ingredients are accessible in an extensive variety and inclinations vary from one region to another. Easy access of international data and exposure of several bakery products has augmented the demand for bakery ingredients. They have numerous benefits like comfortable to use, easy to combine and ready accessibility.
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The growth of the global Bakery Ingredients market is majorly driven by factors such as rise in demand for bakery ingredients, and shifting lifestyles which leave little to no time to cook meals. Also, the growing population of working women has instigated the need for ready to eat baked food, thereby substituting the orthodox home cooked food. The companies are focusing on innovation in sweeteners, Emulsifiers, starches, and preservatives to meet the user demand for low trans fats and gluten free foods, without altering their quality, and taste.
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This industry is extremely influenced by the macro-economic state of an economy, as the intake of fancy bakery products drop sharply due to economic slumps. Also, the industry is exceedingly competitive in nature, and continuous innovation of products is absolutely essential to withstand the market. The major companies dominating the global Bakery Ingredients market are Cargill Inc., Kerry Group, Associated British Foods, DSM, DuPont, Dawn Foods Ltd., Taura Natural Ingredients Limited, Muntons PLC, Corbion N.V. and British Bakels Limited.
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