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The global bakery enzymes market will likely reach USD 2.3 billion by 2027, growing at 6.3% CAGR. The growing demand for bakery products, and their essential use as preservatives in bakery products will drive growth for the powdered bakery enzymes market during 2021-2027 period. The bakery enzymes are widely used to improve taste, color, volume, and texture among bakery products. Their essential applications, in major bakery products like bread-making, dough making promises robust new opportunities for growth of the powdered bakery enzyme market. Furthermore, bakery enzymes also promise new applications in creating glutten-free, salt-free, and healthier, and tastier products in the powdered bakery enzymes market. The increased demand for quality products, and increasing consumer willingness to pay a premium for healthy foods will emerge as a key driver for growth in the powdered bakery enzymes market.
Rising Demand for Dairy Products Remain a Major Driver for Growth
The rising demand for essentials like brad has been a major positive for growth in the powdered bakery enzymes market. The fresh bread category witnessed growth across all categories in 2019, thanks to pantry stockings related to the Covid-19 pandemic. Furthermore, the pandemic has also reinforced consumer attachment to food essentials, with a positive growth for 52 straight weeks up to April, 2020 in the fresh bread category according to IRI. According to the same industry estimates, the fresh bread category grew by 3.5% to $9.4 billion in the United States. Various major players in the market witnessed tremendous growth with Grupo Bimbo rising by 1.4% to $2.5 billion, Flower Foods, rising by 9% to $2.3 billion, and H&S Bakery rising by 14.4% to reach $119 million in fresh bread sales. Moreover, bagels category also witnessed a rise at 4.7% as demand for food essentials remained positive during the Covid-19.
North America Will Likely Occupy Largest Share of Revenues
North America region accounted for lion’s share in the global bakery enzymes market in 2019, with a share of 38%. The declining use of emulsifiers, high discretionary income, emergence of high quality baked products with supported by DIY trends. The rising awareness about quality baked goods, and benefits of natural ingredients also promises a major uplift for the powdered bakery enzymes market in the near future. The increased innovation in this arena in the North America region promises more offerings in the gluten-free product segments including more diversified range of breads, cakes, muffins, pastries, among others. Furthermore, rising availability of low-calorie content, cholesterol-free products, and fat-free products also promise to drive robust growth for the powdered bakery enzyme market in the near future.
The powdered bakery enzymes market remains an innovative, and enterprising commercial landscape, thanks to major investments in new products, rising efficacy of existing product portfolios, and mass-scale manufacturing of various enzymes. Key players in the market continue to innovate the existing product strategies to appeal to a growing manufacturing of bakery products around the world. The new demand for bakery products in emerging nations, thanks to expansion of global retail chains, and rising disposable income remain new opportunities for growth in the powdered bakery enzymes market. Some key players in the powdered bakery enzymes market are Royal DSM, Novozymes A/S, DowDuPont Inc., Enzymes GmbH, Advanced Enzyme Technologies Ltd.
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