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.
- Lesaffre
- Riken Vitamin Co., Ltd.
- Bakels Sweden
- Oy Karl Fazer Ab.
- Corbion N.V.
- Puratos
- Laucke Flour Mills
COVID-19 Scenario
- 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.
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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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