Bread Mixes Market is set to expand at 2% CAGR and reach a market size of US$ 6.18 Bn by 2032-end : Persistence Market Research
NEW YORK, May 5, 2022 /PRNewswire/ -- As per in-depth industry analysis by Persistence Market Research, the global bread mixes market is set to expand at 2% CAGR and reach a market size of US$ 6.18 Bn by 2032-end.
Demand for baked food has no indication of slowing down across the world as consumers pick these items as a ready-to-eat meal. They also view baked food as healthy. Increasing consumption of ready-to-eat meals will drive demand for food ingredients and additives, as they provide the desired taste, texture, and sensory appeal to baked food products.
The millennial population has been of a major influence on the rising demand for fast & baked food products. They seem to bring in new and exciting food trends, which affect different classes of food ingredients over time. For instance, utilization of clean-label ingredients in the preparation of food products has become popular and is influencing consumer purchasing decisions.
The population in Southeast Asian countries is increasing at a significant rate, and currently, a majority of the population is the youth demo graph. The median age in Southeast Asian countries is 28.8 years. 49.8% of the population resides in urban areas where most premium product stores are located. This group of the population is mostly working, and displays more cosmopolitan culinary consumption, but further seeks baked goods for convenience and conformity with the perception of an urban lifestyle.
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The demographic structure of the Singapore population is young, with 43% of the population between 15 and 44 years of age. The youth of the country consume bakery products for breakfast, unlike in European countries where bakery products are consumed for meals.
All the above-mentioned factors bode well for the expansion of the global market for bread mixes.
Key Takeaways from Market Study
- The bread mixes market is projected to grow in South Asia & Pacific, East Asia, and Europe at CAGRs of 2.9%, 2.6% and 2.4%, respectively, over the forecast period of 2022-2032.
- The overall market of bread mixes is dominated by North America and Europe, with a combined market share of more than 60%.
- Argentina in Latin America and Italy in Europe are set to register the highest growth rates at CAGRs of 2.4% and 4.5%, respectively.
- The market in China is projected to reach US$ 532.5 Mn by 2032.
- Overall consumption of bread mixes is projected to be 1,971,122 metric tons in 2022, which is expected to increase at a CAGR of 2% over the forecast period.
- On the basis of type, sourdough bread mixes are currently valued at US$ 1.32 Bn.
- During COVID-19, demand for bred mixes was negatively affected due to global lockdowns, which led to interruption of supply chains and limited workforce in production units. However, consumers are choosing natural and nutritious food ingredients, which is driving demand for bread mixes.
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"Increasing importance of consuming healthy food ingredients is a major factor influencing market growth for bread mixes. Furthermore, rising demand for convenience and processed food products will drive the sales of bread mixes and prove profitable for key manufacturers," says a Persistence Market Research analyst.
Competitive Landscape
Key manufacturers of bread mixes are focusing on introducing new and innovative products to provide efficient and effective solutions to customers. Moreover, companies are emphasizing on mergers and acquisitions to expand their product portfolio and increase their presence across the world.
- In Jan 2022, Puratos Group acquired Profimix, a supplier of bakery mixes, improvers, and confectionery items in Prisovice, Czech Republic.
- Angel Yeast Co., Ltd. introduced a donut premix to fulfil the processing requirements of bakery companies.
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Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global bread mixes market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on type (bread & roll mixes, sourdough bread mixes, pizza mixes, and rye bread mixes) and distribution channel (traditional trade, modern trade, industrial, foodservice), across six major regions of the world.
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