Consumer preference for healthier bakery product, change in culture lifestyle of emerging Asian market, increase in demand for convenience food drive the growth
PORTLAND, OR, UNITED STATES, November 18, 2021 /EINPresswire.com/ — According to the report published by Allied Market Research, the global baking mix and enzymes market generated $3.3 billion in 2018, and is projected to reach $5.1 billion by 2025, witnessing a CAGR of 6.2% from 2018 to 2025. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Europe contributed to the highest share in terms of revenue in 2018, contributing to nearly one-fourth of the total market share. Moreover, the outbreak of the COVID-19 pandemic led to impact negatively on the global baking mix and enzymes market.
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Market Research, stated, “Baking mix and enzymes products have witnessed the higher growth rate as large market players have initiated developments according to the consumer’s need for healthier and toxic-free products. In addition, owing to increase in population, rise in urbanization, and introduction of healthier bakery alternatives at reasonable costs fosters the demand for Baking Mix and Enzymes products. Moreover, continuous innovation and strong and attractive marketing campaigns drives the growth of the Baking Mix and Enzymes products. In addition, increase in number of bakeries & outlets like convenience stores, in-stores bakeries, artisan bakeries, café bakeries, and others is expected to fuel the demand for baking ingredients across the globe.”
The outbreak of the COVID-19 pandemic led to impact negatively on the global baking mix and enzymes market.
It disrupted the whole supply chain, due to which, manufacturers faced a lot of challenge in supply of raw materials, which in turn, hampered the production facilities.
The report offers detailed segmentation of the global baking mix and enzymes market based on application, type, and region.
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Based on type, the baking mix segment held the highest market share in 2019, accounting for nearly three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. However, the enzymes segment is estimated to register the highest CAGR of 8.4% from 2018 to 2025.
Based on application, the cakes & pastries segment held the largest market share in 2018, accounting for more than one-fourth of the total market share, and is expected to continue its leadership status during the forecast period. However, the rolls & pipes segment is projected to register the highest CAGR of 6.6% from 2018 to 2025.
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Based on region, Europe contributed to the highest share in terms of revenue in 2018, contributing to nearly one-fourth of the total market share, and is estimated to continue its dominant share by 2025. However, the Asia-Pacific region is projected to manifest the fastest CAGR of 7.1% during the forecast period.
Leading players of the global baking mix and enzymes market analyzed in the research include Archer-Daniels-Midland Company, Associated British Foods Plc., Cargill Incorporated, E. I. Du Pont De Nemours and Company, Ingredion Incorporated, Kerry Group, Plc., Koninklijke DSM N.V., Dawn Food Products, Inc., Bakels Group, and Lallemand Inc.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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Source: EIN Presswire