LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global baking ingredients market is expected to grow at a CAGR of almost 6% during the forecast period.
This research report titled ‘Global Baking Ingredients Market 2017-2021’ 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.
Baking ingredients are used to improve the quality of foods while baking by enhancing the texture, taste, color, and moisture content of the foods. The growing disposable income and the increasing demand for convenience foods and healthy foods are some of the key parameters that are expected to drive the market during the forecast period. Product recalls, the negative effects of baking ingredients, and stiff government rules and regulations are some of the major challenges that are hindering the market growth.
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Technavio’s analysts categorize the global baking ingredients market into eight major segments by product. They are:
- Flavor and flavor enhancers
- Sweeteners
- Colorants
- Emulsifiers
- Enzymes
- Yeast
- Baking powder
- Fat replacers
The top three segments based on products for the global baking ingredients market are discussed below:
Global flavor and flavor enhancers market
Flavors are additives that are added to food products to give them a specific smell and taste. They can be derived naturally or artificially. Natural flavors are made from various natural sources like herbs, spices, fruits, vegetables, and others. Flavors only add taste and have no nutritional value.
According to Manjunath Reddy, a lead food research analyst from Technavio, “Flavor enhancers are used in different kinds of food products like savory snacks, condiments, and prepared foods. They can be derived from either natural sources or artificial sources. Monosodium glutamate is a common example of a flavor enhancer. Salt is a natural flavor enhancer. Its usage is recommended in moderate and controlled amounts.”
Global sweeteners market
Sweeteners provide a sweet taste to the food products. They can be either natural or artificial. Sugar is the most common natural sweetener. It is rich in calories and is also known as a nutritive sweetener. High-fructose corn syrup is another example of a natural and nutritive sweetener.
“Most artificial sweeteners are low in calories or non-nutritive. They are synthetic sugar substitutes but are made from natural sources like herbs and sugar. Mostly they are sweeter than regular sugar. Thus, small quantities of artificial sweeteners can provide extreme sweetness,” says Manjunath.
Global colorants market
Food colorants are the pigments, dyes, and substances that provide color to the food items. They are added to food and bakery items to impart the desired color to these items and improve their appearance. Colorants can be natural colorants or artificial colorants. Some of the commonly used natural colorants are caramel carotenoids, betacyanins, anthocyanins, and phenolics.
Changes in food regulations and growing consumer demand for clean-label products in Europe and the US are creating a significantly high demand for natural colorants. This has increased the need for different natural colorants like tomato-based colorants. Favorable food laws for natural colorants in Europe will increase the demand for natural colorants in the continent.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Archer Daniels Midland
- Associated British Foods
- Cargill
- DuPont
- Ingredion
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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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