VALLEY COTTAGE, New York, March 20, 2017 /PRNewswire/ --
The US$ 3.2 Bn sourdough market will continue to be positively influenced by increasing application in bread production. Of the US$ 3.2 Bn worth of sourdough sold in 2016, demand from the bread segment totalled US$ 2.36 Bn. This segment is projected to increase at a CAGR of 7.1% through 2026. According to Future Market Insights' report, the dominance of the bread segment can be gauged from the fact that other key application segments - pizza, buns, cakes, cookies, and waffles & pancakes - collectively accounted for nearly 27% revenue share.
Western Europe continues to the largest market for sourdough, accounting for nearly 38% share of total revenues in 2016. Adoption of sourdough in Western Europe food manufacturing units continues to remain strong. Future Market Insights estimates the Western Europe sourdough market to increase at a CAGR of 7.1% through 2026. In terms of revenues, the market is projected to grow 2X from its 2016 market valuation of US$ 1.21 Bn. In terms of volume, over 552 thousand tonnes of sourdough was sold in 2016; FMI estimates it to reach over 975 thousand tonnes in 2026.
Opportunities in the Global Sourdough Market
- Increasing demand for clean-label products has presented a lucrative opportunity for businesses
- Use of sourdough is also gaining traction owing to its application in preparation of foods that require fermentation
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Key Supply-side and Demand-side Drivers
- According to Future Market Insights' report, demand for sourdough is increasing on account of its beneficial functional properties. Its property of enhancing flavour and texture is a key factor for its applications in the F&B sector, especially bakery sector
- Increase in the number of artisan bakeries is positively influencing the demand for sourdough. Particularly high demand for type 1 sourdough - made using only wild yeasts - is being witnessed in artisan bakeries
- Availability of sourdough products on e-commerce stores is also contributing to increasing sales
- Growing demand for sourdough from the fast food and bakery sector is creating sizeable growth opportunities for manufacturers
High cost of sourdough products is a major impediment to their widespread adoption in developing countries.
Preview Analysis on Global Sourdough Market Segmentation By Application - Bread, Pizza, Buns, Cakes, Cookies, Waffles and Pancakes; By Starter Culture - Type I, Type II And Type III: http://www.futuremarketinsights.com/reports/sourdough-market
Key Trends Expected to Shape Global Sourdough Market
- Dehydrated sourdough (Type III) is gaining traction in the bakery industry. Freeze-drying remains the preferred dehydration technique for manufacturers.
- Manufacturers are using devitalised sourdough for enhancing the aroma of products. Devitalised sourdough does not contain live organisms, enhancing its use as an aromatic agent
- Consumer demand for healthy food products has resulted into the launch of chocolate sourdough loaves. Further, Future Market Insights identified increasing use of type I sourdough.
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Sourdough Market Forecast and Analysis by Starter Culture
Type III starter culture currently accounts for nearly half of the revenue share of the global sourdough market. Over 773 thousand tonnes of sourdough was sold in 2016; by the end of the forecast period, Future Market Insights estimates global volumes to surpass 1.3 million tonnes.
Key companies profiled by Future Market Insights in its report include Puratos NV, Ernst Böcker GmbH & Co. KG, IREKS GmbH, Kampffmeyer Mühlen GmbH, Philibert Saveurs, Lesaffre, Dilbeek, Minden, Kulmbach, Hamburg, Pont-de-Veyle, and Marcq-en-Barœul.
Future Market Insights maintains a positive outlook on the global sourdough market, projecting it to grow by 6.8% CAGR through 2026 in terms of value. In terms of volume, demand is projected to grow at 5.5% CAGR.
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SOURCE Future Market Insights