NewYork, NY -- (SBWire) -- 10/12/2021 --GCC Bakery Ingredients Market size is forecast to reach $7.1 billion by 2026, growing at a CAGR of 7.8% during the forecast period 2021-2026. Bakery ingredients helps to maintain freshness, softness, & taste of the food while improving its shelf life. It also helps in increasing the protein content of the baked food and helps in determining the flavor & texture of the food. It is regarded as the basic food for nutrition that is available in various varieties in the market such as sweetener, leavening agent, enzymes, emulsifier, preservative, and baking powder among others. Increasing incidences of chronic diseases, increasing demand for gluten free products, and increasing health conscious consumers are the major factors driving the growth of the market. Rising incidences of the malnutrition, increasing concerns regarding fitness, and lack of vitamins intake is set to further enhance the overall market developments of the GCC Bakery Ingredients Market for the period 2021-2026.
GCC Bakery Ingredients Market Segment Analysis – By Ingredients Type
Baking Powder held the largest share in the GCC Bakery Ingredients Market in 2020 and is estimated to grow at a CAGR 8.1% during the forecast period 2021-2026. This is owing to the increasing demand of it by the consumers for increasing the volume and lightening the texture of the baked goods. It is a chemical leavening agent that is a mixture of weak acid and carbonates/bicarbonates. Baking powder is a ready to use mixture that is used to make bread, muffins, pizza dough, and biscuits among others. Acid base reaction occurs in it through which bubbles are released in the wet mixture and then it expands. Baking Powder is estimated to register the higher CAGR over the period 2021-2026.
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GCC Bakery Ingredients Market Segment Analysis – By Applications
Bread held the largest share in the GCC Bakery Ingredients Market in 2020 and is estimated to grow at a CAGR 8.5% during the forecast period 2021-2026. This is owing to the increasing consumption of bread as a part of diet and a source of energy. Bread is a source of vitamin B & E, protein, and carbohydrates. The increasing awareness regarding the healthy diet is also expanding the growth of the segment. It reduces the cholesterol level in the body and increases the dietary fibres along with the vegetable proteins. There is an increasing demand for various varieties of the bread such as wholemeal bread. Bread are estimated to register the higher CAGR over the period 2021-2026.
GCC Bakery Ingredients Market Segment Analysis – By Country
Saudi Arabia dominated the GCC Bakery Ingredients Market with a major share of 39.9% in 2020. This is attributed to the increasing government initiatives to enhance consumer knowledge towards new innovations in the field of bakery ingredients, and increasing focus on the research & development to adopt bakery ingredients in food that offers health benefits. Increasing inclination of the consumers towards the healthy diet, and increasing number of applications in the food industry is also increasing the growth of the market in this region.
GCC Bakery Ingredients Market Drivers
Increase in the Consumption of Bakery Products
Increase in the consumption of bakery products is increasing the growth of the GCC Bakery Ingredients Market. Bakery products & confectionery serves as a basic food items for nutrition. The demand for bakery products is increasing owing to the increasing demand for nutritional food and increase in the preference of consumers towards the tasty, attractive, and textured bakery products. Lower price, high nutritional value, and easy accessibility associated with the bakery products are rising the growth of the market. Thus, increasing the growth of the GCC Bakery Ingredients Market during the forecast period 2021-2026.
Increasing Shift of the Consumers towards the Veganism
Increasing shift of the consumers towards the veganism is increasing the growth of the GCC Bakery Ingredients Market. This is owing to the increasing awareness of the consumers regarding the health, social impact, and sustainability. There is an increasing shift of the consumer towards the veganism owing to the animal welfare, and personal health. Also, there is an increasing demand of the plant based foods such as muffins, buns, bread, and vegan cake among others. Thus, increasing the growth of the GCC Bakery Ingredients Market during the forecast period 2021-2026.
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GCC Bakery Ingredients Market Challenges
Lack of Awareness Regarding the Products and Stringent Regulations
Some of the factors that are set to impede the growth of the GCC Bakery Ingredients Market are lack of awareness regarding the bakery ingredients and increasing government regulations. Increasing international quality standard is also set to hinder the growth of the market during the forecast period 2021-2026.
GCC Bakery Ingredients Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the GCC Bakery Ingredients Market. In 2020, the GCC Bakery Ingredients Market share is consolidated by the top ten players present in the market. The GCC Bakery Ingredients Market, top 10 companies are Dawn Food Products Inc, Corbion, Cargill, Archer Daniel Midland Company, Kerry Group PLC, Novozymes, and AAK AB among others.
Key Takeaways
Saudi Arabia dominated the GCC Bakery Ingredients Market in 2020 owing to the increasing incidences of diseases and increasing health concerns. The GCC Bakery Ingredients market scope for different regions will be provided in the final report.
Increasing usage of nutritional supplements and increasing consumer inclination towards healthy diets are likely to aid the market growth of the GCC Bakery Ingredients Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be GCC Bakery Ingredients Market report.
Lack of awareness regarding the products and stringent regulations is poised to create the hurdles for the GCC Bakery Ingredients Market.
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GCC Bakery Ingredients Market Size Forecast to Reach $7.1 Billion by 2026
Increase in the Consumption of Bakery Products Is Increasing the Growth of the GCC Bakery Ingredients Market.