(Food-Beverage-News.Com, February 26, 2018 ) According to the report Asia-Pacific Bakery Ingredients Market, published by Market Data Forecast, The Market was worth $2.79 billion in 2016 and estimated to be growing at a CAGR of 5.75%, to reach $3.69 billion by 2021.
Bakery ingredients such as baking powder, butter, baking soda, flour, eggs, fruits, nuts, honey, flavour enhancers and colour additives are used in the bakery products to improve their overall product quality, to save time and for longevity. For instance, in bread making yeast is a vital ingredient whose gas produced should be kept within the dough for enhanced results.
Bakery Ingredients are accessible in an extensive variety and inclinations vary from one region to another. Easy access of international data and exposure of several bakery products has augmented the demand for bakery ingredients. Bakery Ingredients have numerous benefits like comfortable to use, easy to combine and ready accessibility.
The growth of the Asia-Pacific Bakery Ingredients market is majorly driven by factors such as rising standards of living, growing disposable income, adoption of westernized lifestyles and shortage of time to make home cooked meals or breakfast. The companies are focusing on innovation in sweeteners, Emulsifiers, starches, and preservatives to meet the user demand for low trans fats and gluten free foods, without altering their quality, and taste.
The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Breads and cakes are the basic food components of the western society, but their impact is very small in this region. The annual per capita intake of baked food in these regions is more than twenty-five times the intake in the Asia-Pacific region. However, this market is projected to grow exponentially, with India and China clocking double digit growth rates in this market recently, as the population factor plays a crucial role in driving the market in this region.
The scope of the report provides: The evaluation of the current market for your product or services and the future implications of the market Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future Extensive segmentation to understand the dynamics of market at a very granular level by splitting down the market to the smallest segment Addresses the key market dynamics involving the drivers, restraints and challenges with an aim of providing insights for gaining market share The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porters Five Forces The effects of political, economic, social, technological, legal and environmental factors on the industry is analyzed through PESTLE analysis to better understand the aspects of strategic management required to comply with the exogenous and endogenous factors Strategic evaluation of the key players to gain insights of their performance allowing access to their product portfolio, financial performance and the strengths of their business strategic developments Comparative study of the firms across the industry measuring their performances based on market share and recent activities in order to achieve competitive intelligence Equip you with the information providing with the investment opportunities in the industry
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This industry is extremely influenced by the macro-economic state of an economy, as the intake of fancy bakery products drop sharply due to economic slumps. Also, the industry is exceedingly competitive in nature, and continuous innovation of products is absolutely essential to withstand the market. The major companies dominating the Bakery Ingredients market in this region are Cargill Inc., Kerry Group, Associated British Foods, DSM, DuPont, Dawn Foods Ltd., Taura Natural Ingredients Limited, Muntons PLC, Corbion N.V. and British Bakels Limited.
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