Asia-Pacific Bakery Ingredients Market to grow at a CAGR of 5.75% 2016 to 2021 | Market Data Forecast

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The Asia-Pacific Bakery Ingredients 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.

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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.

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The Asia-Pacific 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 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.

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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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