Latin America Bakery Ingredients Industry is poised to reach $2.49 billion by 2021 – 138 pages report by Market Data Forecast
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According to the report Latin America Bakery Ingredients Industry, published by Market Data Forecast, The Industry 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.
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Bakery Ingredients are accessible in an extensive variety and inclinations vary from one region to another.
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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 Industry 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 Industry 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.
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The Latin America Bakery Ingredients Industry is segmented based on Application and Type. The Industry 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 Industry 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 Industry 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 Industry, 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 Industry is one of the fastest growing Industrys for Bakery Ingredients. South America is a developing Industry 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 Industry share in the region and is expected to lead the Industry during the forecast period.
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Key Points from Table of Contents
- Executive Summary
- Key Inferences
- New Developments
Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
Latin America Bakery Ingredients Industry: Segmentation
- By Application
- o Cookies & Biscuits
- o Cakes & Pastries
- o Rolls & Pies
- o Bread
- o Tarts
- o Other Applications
- By Type
- o Enzymes
- o Baking Powder & Mixes
- o Colours & Flavours
- o Starch
- o Oils & Shortenings
- o Leavening Agents
- o Emulsifiers
- o Sweeteners
- o Mould Inhibitors
- o Preservatives
- o Others
- Rest of Latin America
- PESTLE analysis
- Porter’s Five analysis
Industry Leaders' Analysis
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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 Industry.
The major companies dominating the Bakery Ingredients Industry 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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