Knowledge Sourcing Intelligence announces the publication of a new report on “Global Bakery Premix Market - Forecasts from 2020 to 2025” to their offering.
Shifting consumer preferences for exotic bakery products in the developing economies; growing urbanization; increasing availability of allergen-free variants; increasing number of urban home bakers, expanding retail footprint, among others are anticipated to propel the market to unprecedented heights.
As per the report, the market pertaining to the Global Bakery Premix is expectedto reach US$5,327.505 million by 2025, from US$3,995.744 million in 2019.
Since time immemorial bakery products have been a staple in every household, with the progression of time and the advent of industrialization and innovation of food and beverage products pertaining to bakery are now made commercially available in profusion in response to a variety of consumer preferences. Hence with respect to bakery premixes the very convenience, it extends to the foodservice industry due to the blend of ingredients and the reduction of baking time by minimizing the number of tasks involved are prime factors that are responsible for the supply side demand for the same. An additional factor that is expected to result in a meteoric global bakery premix market growth in the coming few years is an increasing trend of sending on the go snacking. Further, during the period o lockdown which almost the entire world was subjected to and still is in a few countries due to COVID19, bakery products along with being designated as an essential product also emerged as the most partaken pass time among consumers which has been further augmented by the trend of sharing their creations over social media.
Now that most nations are gradually relaxing their restrictions and food and beverage establishments are becoming operational for a longer duration, a renewed demand for global bakery premix market is expected to reinforce the market growth. Additionally, the food and beverage industry, especially that of food services have forayed into the developing countries as well as in developed economies that have incentivized the players in the bakery premixes space to expand their footprint available. Further, the growing awareness of a healthier lifestyle has also facilitated the bakery premixes organization to expand its products portfolio to offer products targeted at consumers who seek gluten-free ingredients and vegan options among others. From the perspective of the application, the share of bread is expected to dominate the market space during the forecast period because it’s a breakfast staple in many nations and a key ingredient in many snacks across the world. A few developments pertaining to the global bakery premix market which are being mentioned below attempt to provide a view of the strategic decisions taken by various players operating in this market.
June 2018 - Acquisition
AB Mauri UK and Ireland had reportedly completed the successful acquisition of both Holgran and Fleming Howden which are located in Gainsborough, Lincolnshire, and Newbridge, Edinburgh respectively, from Rank Hovis Milling Ltd. Among the aforesaid, Fleming Howden is known to supply ambient and chilled bakery premixes and bakery ingredients. The rationale for the acquisition was to broaden AB Mauri’s market opportunities and support the company’s growth strategy
August 2018 – Product
Dawn Foods had reportedly launched a range of easy to use Vegan Crème Cake Mixes, recognized by the European Vegetarian Union, which have been made commercially available in chocolate and plain flavors and require just the addition of water and oil, or margarine. Among the ingredients that went into making these mixes are UTZ certified cocoas and are devoid of palm oil.
October 2018 – Product Portfolio Expansion
The maker of premium baking, pancake, and waffle mixes, Krusteaz had reportedly announced the launch of two new products – Gluten-Free Cinnamon Swirl Crumb Cake & Muffin Mix and Fire Roasted Cornbread & Muffin Mix catering to consumers who are seekers of more complex flavor profiles and to those who adhere to a gluten-free diet.
June 2019 – Product Launch Through Collaboration
The global leader in premium chocolates had reportedly launched premium baking mixes made commercially available in 4 dessert options, raspberry chocolate torte, molten lava cakes, flourless chocolate torte and brownie cheesecake swirl in collaboration with General Mills, to expand its footprint by including its signature chocolate into baking mixes that will aid consumers to create specialty desserts at home.
As a part of the report, the major players operating in the bakery premix market, which have been covered are The Pillsbury Company, LLC, Swiss Bake Ingredients Pvt. Ltd, PURATOS, Pristine Baking Solutions, Premia Food Additives (I) Pvt. Ltd., Pfahnl Backmittel GmbH, Lesaffre, Ingridia, and Bakels Worldwide.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-bakery-premix-market
This report segmented the bakery premix market on the basis following terms