PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1409028
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1409028
Scope of the Report | |
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Years Considered for the Study | 2023-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD) |
Segments | By Type, Application , and Region |
Regions covered | North America, South America, Europe, Asia Pacific, and RoW |
The bakery premixes market is projected to grow from USD 406 Million in 2023 to USD 544 Million by 2028, at a CAGR of 6.0% during the forecast period. The hectic lifestyles of consumers, coupled with a rising preference for convenient and ready-to-use baking solutions, have significantly contributed to the increasing adoption of bakery premixes. These premixes cater to the modern consumer's need for quick baking experiences. The customization trend is evident across various categories of baked goods, encompassing cakes, cookies, artisanal bread, and pastries. Both commercial bakeries and individual enthusiasts operating from home are capitalizing on the adaptable nature of premixes, utilizing them as a platform for experimentation with flavors, textures, and nutritional compositions. In response to this trend, manufacturers have strategically broadened their product portfolios, introducing specialized premixes to address distinct dietary requirements. This includes formulations catering to gluten-free, vegan, and low-sugar preferences. This positions industry players at the forefront of catering to discerning market demand.
During the projected period, the pastries category within the spectrum of bakery products is anticipated to exhibit the most rapid growth, boasting the highest Compound Annual Growth Rate (CAGR).
The factors contributing to this growth include consumer preferences shifting towards indulgent and artisanal baked offerings, and pastries, with their versatility and capacity for creative flavor profiles. Moreover, the pastries stand as a canvas for innovation, drawing the attention of traditional bakeries culinary artisans. This dynamic landscape is expected to witness product launches, featuring unique combinations, textures, and presentations, thereby captivating consumers actively seeking fresh and delightful pastry experiences.
Manufacturers are responding strategically to this projected surge by offering pastry-centric premix formulations. For instance, Bakels Worldwide (Switzerland), offers Multimix cake ingredients to enable bakers to produce high quality baked goods time-after-time. These formulations are anticipated to offer a balance between convenience and the artisanal quality desired by consumers, further catalyzing the segment growth.
Dough Concentrates ranks second in dominance within the type segment of the market.
Dough concentrates, a specialized ingredient in the culinary have witnessed a remarkable surge in popularity. These concentrates serve as crucial components in the preparation of various baked goods, providing a convenient and efficient solution for commercial and home bakers. Their widespread adoption can be attributed to a range of factors, including ease of use, consistent quality, and versatility in application. Traditional baking ingredients may face increased competition as consumers lean towards products that simplify their culinary experience. To remain pertinent in a market where dough concentrates have secured a substantial position, industry participants must adjust to these evolving product enhancements.
Prominent companies are Puratos (Belgium), ADM (US), Cargill, Incorporated (US), Nestle (Switzerland), DSM (Netherlands), and Oy Karl Fazer Ab. (Finland) among others.
This research report categorizes the bakery premixes market by Type (Complete Mix, Dough-Base Mix, Dough Concentrates), Application (Bread Products, Bakery Products), and Region (North America, Europe, Asia Pacific, South America, RoW). The report covers information about the key factors, such as drivers, restraints, opportunities, and challenges impacting the growth of the bakery premixes market. It also provides a detailed analysis of the major players in the market including their business overview, products offered; key strategies; partnerships, new product launches, and acquisitions. Competitive benchmarking of upcoming startups in the bakery premixes market is covered in this report.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall bakery premixes market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Analysis of key drivers (Increasing demand for the customized bakery products to reflect positively on the market growth, Availability of multiple ingredients from a single source to encourage investments by key players, and Multifunctional features of bakery premixes to drive its market growth in key applications such as bread, cakes, and pastries), restraints (High R&D investments for bakery premixes to inhibit the market growth, and Increasing number of health-conscious consumers, particularly in developed countries to discourage the demand for bakery premixes), opportunity (The growth of the bakery industry to drive the market growth), and challenges (Production of bakery premixes at economical prices, and Consumer health and wellness concerns) influencing the growth of the bakery premixes market.