“Global Bakery Premixes Market to reach a market value of USD 615.8 Million by 2030 growing at a CAGR of 6.3%”
The Global Bakery Premixes Market size is expected to reach $615.8 million by 2030, rising at a market growth of 6.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,80,812.7 Tonnes, experiencing a growth of 6.3% (2019-2022).
The versatility of premixes allows cooks to easily create a diverse range of pancake varieties without the need for complex ingredient sourcing. Consequently, the pancakes segment captured $37,396.3 thousands revenue in the market in 2022. Premixes are available for various types of pancakes, including classic buttermilk, whole wheat, chocolate chip, blueberry, and specialty flavors. These premixes streamline the pancake-making process by providing pre-measured and pre-mixed dry ingredients. This eliminates the need for measuring and combining individual components, saving time and effort during preparation.
The major strategies followed by the market participants are Expansion as the key developmental strategy to keep pace with the changing demands of end users. For instance, In February, 2023, Indo Bakels set up a cutting-edge manufacturing facility in Tumkur (Bangalore), aligning with Bakels Group's global growth goals. The facility, located 70 kilometres from Bangalore, aimed to create a secure production environment for premium-class ingredients and services, emphasizing flexibility and sustainability. Additionally, In June, 2022, Lesaffre expanded its geographical expansion by announcing the construction of a yeast factory to cater to customers in Brazil, situated on the outskirts of the city of Narandiba. An "over-the-fence" concept, formalized through a partnership contract with the company Cocal, was integrated at the new site to create synergies between both companies' processes.
Based on the Analysis presented in the KBV Cardinal matrix; Nestle S.A is the forerunner in the Market. Companies such as Puratos NV/SA, Cargill, Incorporated, Bakels Worldwide are some of the key innovators in Market. For Instance, In June, 2020, Cargill, Incorporated partnered with a local manufacturer in western India to launch its first chocolate manufacturing operation in Asia in mid-2021. This move aimed to strengthen the company's regional footprint and capabilities in Asia for better support of local and multinational customers.
The growing popularity and consumption of bakery products globally contribute to the expansion of the bakery industry. As more people enjoy a variety of baked goods, there is a heightened demand for convenient and efficient solutions, which bakery premixes provide. Urbanization and changing lifestyles have increased demand for convenient and time-saving food options. They cater to this diversity by providing specialized mixes for various baked goods, enabling bakers to produce a wide array of products with consistent quality easily. The food service sector, including cafes, restaurants, and catering services, is a significant consumer of these premixes. As the food service industry expands and diversifies, the demand for convenient and consistent baking solutions increases, driving the need for premixes. Therefore, the baking industry's expansion is driving the market's growth.
Additionally, E-commerce platforms allow bakery premix manufacturers to reach a global audience. Consumers from different regions can easily access and purchase various premix products, expanding the market beyond local boundaries. Online platforms offer consumers the convenience of browsing, comparing, and purchasing these premixes from the comfort of their homes. Moreover, online platforms enable consumers to share their experiences through reviews and ratings. Positive reviews and high ratings can boost the credibility of bakery premix products, influencing purchasing decisions and fostering a sense of trust among potential buyers. Therefore, the expansion of e-commerce and online retail is propelling the growth of the market.
Many individuals enjoy the traditional baking experience, finding it rewarding, therapeutic, and a source of creativity. The hands-on process of measuring and combining individual ingredients is a key aspect of homemade baking that appeals to certain consumers. Some consumers may perceive homemade baked goods as being of higher quality than those made from premixes. The perception that homemade products are fresher and have a more authentic taste may discourage them from opting for premixes. Moreover, some consumers associate homemade baking with healthier options, as they have greater control over the types and quantities of ingredients used. This perception may influence health-conscious consumers to prefer homemade baked goods. Hence, the competition from homemade baking is hampering the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Based on type, the market is divided into complete mix, dough-base mix, and dough concentrates. The dough-base mix segment attained a noteworthy revenue share in the market in 2022. Dough-base mixes are versatile and can prepare baked goods, including bread, rolls, buns, and specialty bread products. This versatility appeals to both commercial bakeries and home bakers looking for a single mix that can be used across various products. Furthermore, dough-base mixes streamline the baking process by eliminating the need for extensive measuring and mixing of individual dry ingredients. Hence, the dough-base mix's versatility drives the segment's growth.
On the basis of application, the market is segmented into bread products and bakery products. In 2022, the bakery products segment attained the largest revenue share in the market. It caters to a wide range of baked goods, including cakes, muffins, cookies, pastries, and more. The versatility of premixes allows consumers and bakeries to easily create a diverse array of products without the need for extensive formulation and ingredient sourcing. The user-friendly nature of these premixes is particularly appealing to home bakers, including those who may not have advanced baking skills. Premixes provide an accessible way for individuals to engage in home baking without the complexity of from-scratch recipes.
The bakery products segment is further subdivided into pastries, cakes, donuts, pancakes, muffins, and others. The cakes segment procured the highest revenue share in the market in 2022. These premixes make cake baking more accessible for home bakers with limited baking experience. The simplicity of premixes, often accompanied by easy-to-follow instructions, allows individuals to create delicious cakes without the need for advanced baking skills. Premixes are available for various cakes, including vanilla, chocolate, marble, fruit-flavored, and specialty cakes. The versatility of premixes allows bakers to easily create a diverse range of cake varieties without having to source and measure individual ingredients.
Free Valuable Insights: Global Bakery Premixes Market size to reach USD 615.8 Million by 2030
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe region witnessed the maximum revenue share in the market in 2022. The bakery industry in Europe has experienced significant expansion driven by evolving consumer preferences, increased demand for convenient and premium baked goods, and a growing focus on artisanal and healthier options. Industry has embraced innovation, with a surge in product diversification, including specialty breads, pastries, and cakes. Therefore, the market is propelling due to the growing bakery industry in the region.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 381.4 Million |
| Market size forecast in 2030 | USD 615.8 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 6.3% from 2023 to 2030 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Million, and CAGR from 2019 to 2030 |
| Number of Pages | 355 |
| Number of Tables | 734 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, Region |
| Country scope |
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| Companies Included | Puratos NV/SA, Oy Karl Fazer Ab, Archer Daniels Midland Company, Cargill, Incorporated, Nestle S.A, Corbion N.V., Lesaffre Group, Premia Food Additives India Pvt. Ltd, Bakels Worldwide (EMU AG), Synnova Company Limited |
By Type (Volume, Tonnes, USD Million, 2019-2030)
By Application (Volume, Tonnes, USD Million, 2019-2030)
By Geography (Volume, Tonnes, USD Million, 2019-2030)
This Market size is expected to reach $615.8 million by 2030.
Rapidly changing consumer lifestyles are driving the Market in coming years, however, Rising competition from homemade baking restraints the growth of the Market.
Puratos NV/SA, Oy Karl Fazer Ab, Archer Daniels Midland Company, Cargill, Incorporated, Nestle S.A, Corbion N.V., Lesaffre Group, Premia Food Additives India Pvt. Ltd, Bakels Worldwide (EMU AG), Synnova Company Limited
In the year 2022, the market attained a volume of 1,80,812.7 Tonnes, experiencing a growth of 6.3% (2019-2022).
The Complete Mix segment is leading the Market, By Type in 2022; there by, achieving a market value of $313.8 Million by 2030.
The Europe region dominated the Market, By Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $210.7 Million by 2030.
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