The bakery premix market is projected to grow at a CAGR of 4.91% to reach US$5,327.505 million by 2025, from US$3,995.744 million in 2019.
Growing importance of bread and other baked products as an essential daily commodity coupled with the increasing awareness among the health-conscious individuals to boosting the market growth.
Breakfast is considered one of the most important meals in the day as it jumpstarts the metabolism of the body and helps the individuals to burn calories throughout the day and maintaining good health. As such individuals prefer breakfast which is loaded with proteins, carbohydrates, a little fats and vitamins, and minerals. The majority of the countries in the world include a bakery product such as bread or something in their daily meals. The Germans prefer eating a rich breakfast with Wursts (German sausages), local cheeses, freshly baked breads, and coffee, whereas the individuals in France prefer a hearty breakfast that comprises of croissants, with added almonds for enhanced nutrition, butter or chocolate. In Sweden pancakes or crepes are eaten with a fruity filling, the Americans prefer eating homemade thick pancakes whereas the Brits prefer eating a serving of beans, sausages, eggs hah browns, and bread.
Moreover, there is an increasing focus among the individuals regarding the consumption of bread as they prefer to consume different types of pieces of bread that is healthier than the standard white and brown. This is encouraging the market players to offer bakery premixes and bakery mixes such as multigrain bread mixes spelt bread, oat-based bread, and other breads, which contribute towards a healthier lifestyle. For example, one of the leading companies based in Germany offers its product called the “Brown Malt Multigrain”, which is a type of special baking mix for a dark malt-flavored multigrain product for making bakery products and breads enriched with the power of different grains. Also, as cookies are increasingly consumed by the younger population especially children the middle-aged population in accompaniment with hot beverages, Pillsbury is offering their product called the “Gluten-Free Chocolate Chip Cookie Mix”, catering to the individuals in the population that are allergic to gluten but still want to enjoy sugary foods and bakery products. Therefore, as there are different varieties of bakery mixes and products that re available in the market to cater to different tastes and preferences of the consumer, the market growth is being fueled over the forecast period.
Product Launches by Major Market Players
The products that are being offered in the market are from the diverse product portfolios of market players and the increasing investments are being undertaken in order to improve their market position, cater to the burgeoning demand, and contribute to the market growth over the forecast period.
Some of the examples of the product offerings are as follows:
The North American region followed the European region by the to hold a noteworthy share over the forecast period.
The European region is expected to hold a considerable share over the forecast period. This attributable to the fact that the consumption of bread and other bakery products is increasing in countries such as Germany, the UK, and France owing to the increasing disposable income of the middle-income and high-income population and the increasing number of market players are providing premium healthy products to the consumers. In addition, the North American region is expected to increase its share over the forecast period. This is due to the fact that a majority of the North American households consumes pancakes in the breakfast in the morning accompanies with maple syrup or blueberries and some households even eat biscuits which is a type of baked product that is based on flour and is a typical bread that is left and soft.