Bakery Ingredients Market is Expected to Grow at 5.8% by 2031. Bakery industry is one of the rapidly growing segments all across the globe. Changing food habits in urban areas, due to changing lifestyle and enhanced standard of living has resulted in robust growth of bakery industry all over the world.
In 2021, the global market for food ingredients is projected to reach US $465 billion by 2030, rising at a compound annual growth rate (CAGR) of 6% between 2023 and 2030. Corn, soy, sugar, and wheat are the crops that account for the greatest proportion of the world's total agricultural exports. In the creation of packaged goods, food components such as sweeteners, emulsifiers, thickeners, and stabilizers are utilized extensively throughout the processed food and beverage industry. Sugar solutions produce a high osmotic pressure, which is what gives them their flavor, texture, and viscosity. Moreover, sugar is a preservative because of this property. On the other hand, the population of the globe is growing at an increasing rate over time, and the amount of labor that individuals have to do is increasing, which drives them to seek out foods that have been processed and packaged to save time and satisfy their hunger. Also, throughout history, there has been a rise in the availability of processed foods, which has had an effect on the eating habits of consumers. In 2019-2020, adolescents who were still in school consumed processed foods, as reported by the United Nations Children's Fund (UNICEF). Specifically, 42% of adolescents drank carbonated sugary sodas at least once per day, and 46% ate fast food at least once per week. The ever-increasing need for processed and packaged meals has forced food manufacturers to turn to artificial sweeteners in order to maintain production levels and keep up with consumer demand. The increased demand for and a number of transactions involving processed foods are driving the rise of the food ingredients sector.
It is projected that the demand for natural sources such as carotenoids, curcumin, anthocyanin, and carmine would expand across a number of end-use industries. These end-use industries include food and beverages, bakery and confectionery, dairy products, meat and poultry, and seafood. During the course of the forecast period, it is predicted that this factor would contribute considerably to the expansion of the market. The term "clean label" refers to the trend of using natural colors and flavors in the process of preparing food. In addition, consumers are looking for alternatives to synthetic colors, and their growing preference for natural hues is predicted to fuel demand for clean-label food color components, which will, as a result, contribute to the expansion of the global market. As antioxidants and coloring agents, natural colors protect the body against cellular damage, chronic diseases, and the effects of aging. Natural colors are also free of genetically modified organisms (GMOs), which are known to cause allergic reactions. Ayurvedic medicine makes use of red sandalwood, which, for example, has qualities that promote wound healing and is also used. As a result, an opportunity may present itself in the market for food additives as a result of the growing awareness of the positive effects that natural colorants have on human health. In recent years, there has been a rise in the level of awareness among consumers regarding the utilization of natural colors in the production of food goods. This component gives manufacturers more leeway to focus their R&D efforts on the production of enhanced natural colors that have superior properties, such as pH and heat stability. These colors would otherwise be difficult to produce.
Acute Market Reports has been the trusted provider of market research and consulting services for the food ingredient businesses. We assess the worldwide market by investigating the current state and potential future development of each micro market. To better enable our global customers in making educated business decisions, we have spent over a decade enhancing a data-driven, analytical, and user-friendly approach to adopting an innovative and futuristic research strategy.
