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2019

Baking Mix and Enzymes Market

Baking Mix and Enzymes Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type and Application : Global Opportunity Analysis and Industry Forecast, 2018-2025

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Author's: Aniket Kadam| Shankar Bhandalkar | Roshan Deshmukh
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Baking Mix and Enzymes Market Outlook - 2025

The global baking mix and enzymes market size was valued at $3,384.0 million in 2018, and is projected to reach at $5,151.0 million by 2025, growing at a CAGR of 6.2% from 2018 to 2025. Baking mix and enzyme are food materials employed in the bakery industry to prepare ready-to-eat foodstuffs. These ingredients increase color, volume, texture, flavor softness, and other properties of the food items. They are available in different varieties, and their utilization in bakery products depends upon the consumption patterns of different regions. Baking mix and enzymes market enjoys high growth potential and it is anticipated that it will achieve remarkable position in the food processing sector. In addition, increase in trend of healthy eating and rise in preference for convenience food are the primary factors that boost the growth of the market. Prominent players and large corporates are developing their products to follow the consumer trends and boost the company growth to occupy top position in the baking mix and enzymes market share.

Furthermore, increase in preference of consumers toward gluten-free bakery products such as cakes, pastries, breads, and muffins, owing to rise in health cautiousness drives the growth of the baking mix and enzymes market. Moreover, availability of various healthy alternatives in the market with low-calorie content, fat-free, and cholesterol-free products is expected to fuel the baking mix and enzymes market growth. Furthermore, surge in demand for breads in the interest of consumers wheat base and whole grains, which are rich in fiber and proteins, supplement the growth of the market. In addition, alarming obesity rates and increase in fitness-related concerns have shifted toward healthier bakery food items.

Baking Mix and Enzymes Market

Changes in lifestyle patterns of consumers and preference toward baking mix and enzyme products are expected to provide remunerative opportunities for the manufacturers. Moreover, these baked products are gaining popularity among Asian customers, due to their enhanced taste and presence of proteins & fibers in breads & cakes. Furthermore, consumers are able to afford high-priced baked products, due to increase in disposable income and improvement in economic conditions. However, stringent government regulations toward quality and types of ingredients used in the manufacturing of bakery products and customer preference for cereals over baked products limit the growth of baking mix and enzymes market. The regulations associated with bakery products are related to various ingredients used in the process, food hygiene labeling & packaging, health claims, and others.

Moreover, the increase in preference for on-the-go food products, which are readily available in the market has increased, due to changes in eating habits and busy lifestyle. For instance, availability of various instant premix powders in the market to make desserts at home easily without much efforts significantly contributes toward the growth of the global market. In addition, owing to increase in population, rise in urbanization, and introduction of healthier bakery alternatives at reasonable costs further foster the demand for baking mix and enzyme products. 

The increase in changing lifestyle patterns in the regions of Asia-Pacific, such as India and China, which contribute to more than 37% of the total world population, fuels the demand for high-quality products and comfortable living. This in turn boosts the need for convenience food products, thereby driving the growth of the market. In addition, increase in number of supermarkets, hypermarkets, and bakery outlets fuel the demand for bakery products. Moreover, high economic growth and hectic routine of people encourage the usage of high-quality and healthy bakery products, which in turn supplements the growth of baking mix and enzymes market. 

Based on the baking mix and enzymes market forecast by type, the baking mix was the highest contributor to the global market in 2018, due to its increased usage across the globe, as it is increasingly used in the preparation of soups, baked goods, and other products. Rise in use of ready-to-use baked ingredients in food parks, hotels, restaurants, and café drives the market growth. 

Baking Mix and Enzymes Market
By Type
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Enzymes segment would witness the fastest growth, registering a CAGR of 8.5% during the forecast.

Based on the baking mix and enzymes market analysis by application, the bread segment leads the market in 2018. The demand for bread is growing at a significant rate, as consumers are increasingly demanding for chemical-free natural product.

Baking Mix and Enzymes Market
By Application
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Rolls and pies segment would witness the fastest growth, registering a CAGR of 6.7% during the forecast period.

The key players operating in the baking mix and enzymes industry include Archer-Daniels-Midland Company, Associated British Foods Plc., Cargill Incorporated, E. I. Du Pont De Nemours and Company, Ingredion Incorporated, Kerry Group, Plc., Koninklijke DSM N.V., Dawn Food Products, Inc., Bakels Group, and Lallemand Inc.

Baking Mix and Enzymes Market
By Region
2025
Europe 
Notrth America
Asia-Pacific
LAMEA

Europe is the largest market growing at a CAGR of 5.8% from 2018-2025.

Key Benefits for Baking Mix and Enzymes Market:

  • This report provides a quantitative analysis of the segments, current trends, estimations, and dynamics of the market analysis from 2017 to 2025 to identify the prevailing baking mix and enzymes market opportunities.
  • The key countries in all the major regions are mapped on the basis of their baking mix and enzyme market share.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis of the baking mix and enzymes market segmentation assists to determine the prevailing market opportunities.
  • The report includes the analysis of the regional as well as global baking mix and enzymes market trends, key players, market segments, application areas, and growth strategies.

Baking Mix and Enzymes Market Report Highlights

Aspects Details
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By Type
  • Enzymes
  • Baking Mix
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By Application
  • Bread
  • Cookies & Biscuits
  • Rolls & Pies
  • Cakes & Pastries
  • Others
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By Region
  • North America  (U.S, Canada, Mexico)
  • Europe  (UK, Germany, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Rest of Asia-Pacific)
  • LAMEA  (South Africa, Brazil, Turkey, Rest of LAMEA)
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Key Market Players

KERRY GROUP PLC (KERRY GROUP), CARGILL, INCORPORATED, ASSOCIATED BRITISH FOODS PLC, ARCHER-DANIELS-MIDLAND COMPANY, DOWDUPONT, KONINKLIJKE DSM N.V., NOVOZYMES A/S, ROYAL DSM N.V., BAKELS GROUP, DAWN FOOD PRODUCTS, INC.

Analyst Review

According to the CXO of leading companies, the baking mix and enzyme market is expected to grow at a significant rate during the forecast period, owing to various factors such as change in lifestyle patterns of consumers, increase in demand for convenience foods, and consumer preferences for healthier bakery products. In addition, rise in number of bakeries & outlets, such as in-store bakeries, convenience stores, supermarket & hypermarket bakeries, café bakers, and artisan bakeries, fuels the demand for baking mix and enzyme products across the globe. Moreover, high economic growth and hectic routine of people encourage the usage of high-quality and healthy bakery products, which in turn supplements the market growth. 

The bread segment is the most significant application responsible for highest sales in the global market, accounting for more than half of the share and is expected to dominate the market during the forecast period. The rolls & pies segment is expected to witness significant growth during the forecast period, followed by the cakes & pastries segment.

According to the CXOs, Asia-Pacific is projected to register a significant growth as compared to the saturated markets of Europe and North America, due to increase in penetration of a wide range of bakery products in tier 2 & 3 cities of India and rise in disposable incomes.


 

Author Name(s) : Aniket Kadam| Shankar Bhandalkar | Roshan Deshmukh

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Baking Mix and Enzymes Market

Global Opportunity Analysis and Industry Forecast, 2018-2025