Growing Demand for Convenience Food Products to Augment Sales of Bakery Ingredients Globally, says TMR

2024-11-05 08:31:48 Lifestyle

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The development of new bakery products and techniques is likely to impel manufacturers of baking ingredients to introduce innovative products, states Transparency Market Research in a new report. The report is titled ?Baking Ingredients Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 ? 2019.?

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The report presents an in-depth analysis of the present market state, historical growth trajectory, and future growth prospects of the global baking ingredients market. The study also enunciates the trends in the global baking ingredients market considering all important elements at play until the end of the forecast period.

The report provides the market value and volume as well as opportunities in the key segments along with the strategies, shares, and products offered by companies operating in the global baking ingredients market. The study analyzes the strengths, weaknesses, opportunities, and threats prevailing in the global baking ingredients market along with the Porter?s five forces analysis to gain insights on the level of competition among the existing players and new entrants.

The report states that baking ingredients are not industry specific as they also have numerous domestic markets distributed across the world. Owing to the changing dimension of the baking industry as a whole, the global baking ingredients market is likely to witness substantial growth in the coming years. The global baking ingredients market is primarily driven by culture-specific food habits and taste preferences. The rising consumption of fancy bakery food products in developing countries and growing income of middle-class population are factors that are expected to drive the demand for baking ingredients in the coming years. Moreover, the burgeoning consumption of convenience food is likely to further boost the sales of baking ingredients globally.

Due to globalization, there has been a significant change in food preferences, although the chances of a complete alteration in staple food consumption are low. This, in turn, is likely to affect the consumption of bakery ingredients in Asian countries. However, the population in Asian countries is likely to play a key role in driving the growth of the baking ingredients market in the region.

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The study also states that the global baking ingredients industry is prone to macro-economic changes in an economy. As a result of economic downturn, the consumption of fancy bakery products declines substantially. Stringent regulations regarding food quality imposed by governments across the world are anticipated to challenge the growth of the global baking ingredients market. Economic losses incurred due to damage of bakery products is another factor inhibiting the demand for bakery ingredients, mainly among households across the world.

The report geographically segments the global bakery ingredients market into North America, Asia Pacific, Europe, and Rest of World. North America and Europe are projected to emerge as key regions in terms of consumption of bakery ingredients until 2019. The leading companies in the global baking ingredients market are Muntons Plc., Dawn Foods Ltd., CSM, British Bakels Ltd., AAK UK, and Taura.