(Food-Beverage-News.Com, April 30, 2018 ) The Latin America Bakery Ingredients Market was worth $1.90 billion in 2016 and estimated to be growing at a CAGR of 5.62%, to reach $2.49 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 Latin America Bakery Ingredients market is majorly driven by factors such as rise in demand for bakery ingredients, and shifting lifestyles which leave little to no time to cook meals. Also, the growing population of working women has instigated the need for ready to eat baked food, thereby substituting the orthodox home cooked food. The key restraint of the market is the high sugar and carb levels in the baked products which lead to health problems. The diabetic epidemic is a key heath issue throughout the world and it has been escalating, especially in middle income families, who are the chief consumers of bakery products. Furthermore, excess sugar intake is linked to metabolic dysfunction, liver damage, and obesity, which are driving the health conscious users away from baked food items.
The Latin America Bakery Ingredients market is segmented based on Application and Type. The market for Bakery Ingredients, on the basis of Application, is classified into Cookies & Biscuits, Cakes & Pastries, Rolls & Pies, Bread, Torts, and Others. On the basis of Type, the Bakery Ingredients market is segmented into Enzymes, Baking Powder & Mixes, Colours & Flavours, Starch, Oils & Shortenings, Leavening Agents, Emulsifiers, Sweeteners, Mould Inhibitors, Preservatives, and Others. The bread segment leads the Bakery Ingredients market under the application segment. However, the cakes & pastries segment is anticipated to grow at the highest CAGR due to growing demand from emerging economies. In terms of type, the baking powders & mixes segment leads the market, followed by oils, & shortenings. However, the enzymes segment is projected to grow at the highest CAGR in terms of worth. Ingredients presenting similar functionalities are engaging in an aggressive rivalry due to raw material unavailability and production expenses. For example, use of enzymes in baking limits the progress of emulsifiers in baking applications.
The Latin America market is one of the fastest growing markets for Bakery Ingredients. South America is a developing market with huge potential and sturdy growth rates, due to growing disposable incomes and the popularity of western food trends among the middle class in this region. Mexico accounts for the largest market share in the region and is expected to lead the market during the forecast period.
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.
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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