Flavors and Enhancers Segment Will Lead the Global Baking Ingredients Market Through 2020, Reports Technavio

LONDON--()--According to the latest market study released by Technavio, the global baking ingredients market is expected to grow at a CAGR of 5.36% during the forecast period.

This research report titled ‘Global Baking Ingredients Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

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Based on product type, the global baking ingredients market is segmented into the following: flavors and enhancers, sweeteners, colorants, emulsifiers, enzymes, yeast, baking powder, and fat replacers. The top three segments are:

  • Flavors and enhancers
  • Sweeteners
  • Colorants

Global flavors and enhancers market

The global flavors and enhancers market is projected to reach USD 5.18 billion by 2020, growing at a CAGR of close to 5%.

“Flavors and enhancers not only provide an aroma and structure to the bakery products but also add nutritional value. Flavors and enhancers can be derived from a natural source such as plant or animal or an artificial source. The flavors and enhancers market is expected to be driven by the increase in food manufacturers and bakery products manufacturers,” says Vijay Sarathi, a lead analyst at Technavio for food sector.

Global sweeteners market

Technavio expects the global sweeteners market to grow at a CAGR of 1.42% to reach USD 1.88 billion by 2020.

Sugar, a soluble carbohydrate, is the most common natural sweetener. It is high in calories and is therefore also known as a nutritive sweetener. High-fructose corn syrup (HFCS) is another natural, nutritive sweetener. The high calorie content in these sweeteners make them unappealing to the increasingly health-conscious populace, fueling the demand for low-calorie sweeteners.

Most artificial sweeteners are low in calories or non-nutritive. Stevia, thaumatin, aspartame, and sorbitol are some of these artificial sweeteners, of which stevia is naturally derived. Artificial sweeteners are usually highly sweet, where small quantities provide extreme sweetness. Also, they are not absorbed completely by the digestive system, and thus they provide fewer calories per gram consumed. Some artificial sweeteners approved by the US Food and Drug Administration (FDA) include acesulfame-K, aspartame, neotame, saccharin, sucralose, and stevia. Thus, sweeteners are significantly used as a baking ingredient.

Global colorants market

Colorants are added to food and bakery products to give them the desired color and to improve its visual appearance. The global colorants market is segmented into natural colorants and artificial colorants. Commonly used natural colorants are anthocyanins, caramel carotenoids, betacyanins, and phenolics. Red#3 (Erythrosine), Red#40 (Allura Red AC), Blue#1 (Brilliant Blue FCF), Blue#2 (Indigotine), Green#3 (Fast Green FCF), and Yellow#6 (Sunset Yellow FCF) are some of the artificial colorants that are used widely. Colorant manufacturers are adopting the natural trend by working closely with bakery products and other food manufactures to create and stabilize colors derived from natural sources like fruits and vegetables.

“Changes in food regulations in Europe and the US are creating a significantly higher demand for natural colorants. In addition, the growing consumer demand for clean-label products has increased the need for versatile natural colorants like tomato-based colorants. Favorable food laws for natural colorants in Europe will increase the demand for natural colorants,” says Vijay.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Archer-Daniels-Midland
  • Associated British Foods (ABF)
  • Cargill
  • DuPont
  • Ingredion
  • Kerry Group

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global baking ingredients market is expected to grow at a CAGR of 5.36% during the forecast period.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com