Allied Market Research published a report, titled, “Bread Improvers Market by Form (Powder, Liquid, and Paste), Type (Organic and Inorganic), and Application (Bread, Cakes, Viennoiseries, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026.” According to the report, the global bread improvers market garnered $907.7 million in 2018, and is estimated to reach $1.47 billion by 2026, registering a CAGR of 6.2% from 2019 to 2026.
Drivers, restraints, and opportunities
Increase in demand for convenience food, surge in consumption of bakery products, and preference for high quality products drive the global bread improvers market. However, implementation of strict government regulations regarding bleaching agents restrains the market growth. On the other hand, need for organic bread improvers and introduction of different flavored breads create new opportunities in the coming years.
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Leading market players
- Agropur Dairy Cooperative
- Associated British Foods
- Royal DSM N.V.
- Riken Vitamin Co., Ltd.
- Bakels Sweden
- Oy Karl Fazer Ab.
- Corbion N.V.
- Laucke Flour Mills
The powder segment to maintain its lead status in terms of revenue throughout the forecast period
Based on form, the powder segment accounted for nearly four-fifths of the total share of the global bread improvers market in 2018, and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due to application of powdered bread improver being lesser complex in comparison to the other forms, which enables more usage in bread, baguette, cake, and others. However, the liquid segment is estimated to portray the highest CAGR of 7.3% from 2019 to 2026, owing to its benefits such as cost efficiency and ability to give high quality products.
The inorganic segment to maintain its leadership position during the forecast period
Based on type, the inorganic segment contributed to the highest market share with nearly five-sixths of the global bread improvers market share in 2018, and is estimated to maintain its leadership position during the forecast period. This is attributed to wide adoption by manufacturers as it is economical in large-scale production. However, the organic segment is estimated to generate the fastest CAGR of 9.3% from 2019 to 2026. This is due to changes in lifestyle and consumer preference for healthy products.
Europe, followed by North America, to maintain its dominant by 2026
Based on region, Europe, followed by North America, accounted for the highest share based on revenue, holding for nearly two-fifths of the total share of the global bread improvers market in 2018, and is projected to maintain its dominant position throughout the forecast period. However, Asia-Pacific is estimated to portray the fastest CAGR of 7.8% from 2019 to 2026, owing to the adoption of western lifestyle and rise in disposable income.
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- Many big players have halted the production of bread improvers amidst the lockdown.
- Big market players may survive the economic turbulence; however, it would be difficult for small bakeries to survive.
- The demand for bakery products has experienced a downfall during the coronavirus pandemic.
However, stringent government regulations associated with bakery additives and products in several countries hamper the growth of the Bread Improvers market.
The global Bread Improvers market analysis is carried on the basis of form, type, application, and region. On the basis of form, the market is divided into powder, liquid, and paste. The type segment is classified into organic and inorganic. Among these, the inorganic Bread Improvers segment leads the market with maximum share in terms of revenue. However, the organic Bread Improvers segment is expected to experience high demand in the market during the forecast period. By application, the market is categorized into bread, cakes, viennoiserie, and others. The consumption of bread is highest among all the segments, due to soaring demand from the bakery industry as well as consumers and hence it holds the largest market share for the year 2018. However, the viennoiserie segment is expected to grow at the highest CAGR of 7.40% during the forecast period. Region wise, the Bread Improvers market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key findings of the study
- Depending on form, the powder segment accounted for the highest Bread Improvers market share in 2018 and is estimated to grow at a CAGR of 6%.
- On the basis of type, the inorganic segment accounted for about 85% of the market share in 2018. However, the organic Bread Improvers segment is expected to grow at a CAGR of 9.30% during the forecast period.
- By application, the bread segment accounted for about 72% of the market share in 2018. However, the viennoiserie segment is expected to grow fastest at a CAGR of 7.4% during theBread Improvers market forecast period.
- Region wise, Asia-Pacific accounted for about 21% of the market by share and is expected to grow at a CAGR of 7.8%.
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