LAMEA Bakery Ingredients Market Size, Share & Industry Trends Analysis Report By Type (Dry Baking Mix, Fiber, Fats, Emulsifiers, Antimicrobials, Starch, Flavors, Enzymes, Colors), By Application, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Bakery Ingredients Market would witness market growth of 7.3% CAGR during the forecast period (2022-2028).
The growing popularity of low-trans fat and gluten-free bread shop items has created a cutting-edge opportunity for manufacturers of bakery ingredients. A busy lifestyle and changing nutritional preferences are two factors driving the market for bakery ingredients, leading to increased use of bakeware. The use of bakery ingredients also depends on changes in people's schedules and cultural practices in non-industrialized nations.
The growing need for excellent, genuine, and high-quality ingredients that meet customer expectations for fresh, wholesome, and delectable baked goods is what propels the extensive utilization of baking ingredients. Customers are more interested in bakery products' sustainability and simplicity, and they are also more interested in the ingredients' quality and country of origin than ever before. Manufacturers are now looking for additives with excellent nutritional and sensory properties as a result of this trend.
The consumption of healthy baked food products has also increased as a result of the quick increase in obesity levels and the growth in fitness-related issues. It is projected that the possible demand for frozen baked meals, together with proactive measures taken by major players to lower manufacturing costs and lengthen product shelf lives, will offer attractive growth prospects for market growth for bakery ingredients.
As internationally known food service brands prepare to extend their operations in the region, the Middle East is also expected to offer prospects for future sustainable growth of the baking sector. The region's custom baked goods trend is expected to grow, which will increase demand for baking supplies that may be used to create specialty, gluten-free, organic, and niche foods. Additionally, the sales of bakery goods increased as a result of urbanization, the growing working population, the rise in consumption outside the home, and the rising desire for quick and wholesome foods.
The Brazil market dominated the LAMEA Bakery Ingredients Market by Country in 2021; thereby, achieving a market value of $337.6 million by 2028. The Argentina market is anticipated to grow at a CAGR of 7.8% during (2022 - 2028). Additionally, The UAE market would witness a CAGR of 7% during (2022 - 2028).
Based on Type, the market is segmented into Dry Baking Mix, Fiber, Fats, Emulsifiers, Antimicrobials, Starch, Flavors, Enzymes, Colors and Others. Based on Application, the market is segmented into Bread, Cookies & Biscuits, Cakes & Pastries, Rolls & Pies and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Archer Daniels Midland Company, Bakels Group (EMU AG), Kerry Group PLC, Koninklijke DSM N.V., Associated British Foods PLC (Wittington Investments Limited), DuPont de Nemours, Inc., Ingredion Incorporated, Dawn Food Products, Inc., Cargill Corporation and Lallemand, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Dry Baking Mix
- Cookies & Biscuits
- Cakes & Pastries
- Rolls & Pies
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Archer Daniels Midland Company
- Bakels Group (EMU AG)
- Kerry Group PLC
- Koninklijke DSM N.V.
- Associated British Foods PLC (Wittington Investments Limited)
- DuPont de Nemours, Inc.
- Ingredion Incorporated
- Dawn Food Products, Inc.
- Cargill Corporation
- Lallemand, Inc.
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