Baking ingredients are used to enhance quality, retain softness & taste and shelf life of bakery products such as biscuits & cookies, rolls & pies, cakes & pastries and buns. The global baking ingredients market will be witnessing a steady growth and expected to generate revenues for more than US$ 16,000 Mn by the end of 2022, according to the report “Baking Ingredients Market: Global Industry Analysis 2012-2016 and Forecast 2017-2022” added recently into the repository of “Market Research Reports Search Engine (MRRSE). The changing lifestyles and improved economic conditions in both developing and developed countries has led to increase in the demand for packaged and convenience food which has in turn spurred the demand for bakery products.
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As per the report analyses, there is a tremendous increase in the number of coffee shops, retail outlets, convenience stores as people mostly travel and eat outside food. These shops & stores provide a range of baked food items. The ready-to-eat products are replacing traditional home cooked food. It adds further to that stating that people in developed countries such as Europe and North America prefer rolls, pocket sandwiches, wraps over home cooked food due to their busy schedule. Such factors are the driving factors to the market of baking ingredients.
In order to save consumer’s time in cooking, the key players in the market have come up with innovative range of pre-packaged food products, ready-to-use products and bake-off products with long life. Such products are developed after companies have gone through and invested in projects of research and development. As per the report analyses, the latest trend is the organic baking ingredients in the market of baking ingredients. The organic baking ingredients is expected to gain traction in near future as people become more conscious towards their health.
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The report also gives detailed insight into the competition involved in the market of baking ingredients and discusses competing factors such as product differentiation, innovation, service, reputation, distribution, price and quality of the product.
As per the report, emulsifiers help in reduced production cost, improved dough stability, extended shelf-life and enhanced fermentation activity. Emulsifiers are expected to register major growth compare to other products which is of more than US$ 4,000Mn revenues by the end of 2022. In terms of fastest growing application, biscuits & cookies are expected to create an opportunity of more than US$ 1,000Mn from 2017 to 2022.
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