PUBLISHER: Grand View Research | PRODUCT CODE: 1575244
PUBLISHER: Grand View Research | PRODUCT CODE: 1575244
The global sourdough market size is expected to reach USD 5.32 billion by 2030, registering a CAGR of 7.2% during the forecast period, according to a new report by Grand View Research, Inc. The industry is likely to witness high penetration in the bread application over the coming years.
The sourdough bread segment has witnessed significant growth across the globe in recent years. Increasing demand for pronounced flavor in bread, along with high nutritional value, has been sparking product demand. Sourdough bread is in high demand principally in European countries. With artisan baked products becoming mainstream in countries such as U.K. and Germany, demand for sourdough bread is expected to soar at a considerable rate over the forecast period.
Rising popularity of gluten-free products is among the prominent drivers in the industry. Gluten-free products are gaining popularity around the world for their perceived health benefits. Encouragingly, the increasing sale of gluten-free products has a positive impact on the sale of sourdough as these products are naturally fermented and eliminate the interference of added chemicals.
Another prominent factor bolstering demand is artisan bakeries mushrooming in several parts of the world. This is in reaction to rising popularity of artisan baked products, specifically breads, notably in Asian countries such as Japan, China, and India. Consumer predilection for artisan breads is attributable to the growing popularity of coffee culture and out-of-home dining habits.
Asia Pacific is anticipated to grow at the fastest pace over the forecast period owing to its large customer base. From a manufacturing standpoint, setting up a production facility in Asia Pacific would mean benefitting from an abundant supply of raw materials. Prominent sourdough market players operating in this region are also benefiting from rapidly changing consumer lifestyles.