The premix bread flour market is estimated to secure a valuation of US$ 1.6 Billion in 2023 and is estimated to rise to US$ 2.6 Billion by 2033. The market is anticipated at a CAGR of 5% during the forecast period. the factor accelerating the demand for premix bread flour are as follows-
The benefits associated with the use of premix bread flour like the ease of use, time-efficiency, result consistency, and longer shelf life, as compared to the traditional formulas are supporting its growth in the global industry. The increased demand for bakery products such as bread, pizza, and muffins is supporting the market growth.
The increasing demand for a healthy ingredient with nutritional value drives the premix bread flour market. High demand for bakery products and increasing consumption of bread products is the driving factor for an increase in demand for the premix bread flour market.
Global premix bread flour markets are expected to gain significant momentum in the food sector across the globe. The increase in demand for healthy food and increase in per capita spending is likely to drive market growth. Also, the increased demand for multigrain, low-carb, and high-fiber premix bread flour triggered market growth.
North America followed by Europe is the major market for premix bread flour owing to the presence of a large number of manufacturers, as well as economic and political factors. The United States of America in the North American region accounts for the highest growth due to the increased consumption of bread products in the region.
Asia Pacific is expected to witness lucrative growth during the forecast period. The rising disposable income and rapid urbanization in emerging economies of Asia pacific such as China, and India are leading to increased spending on bakery products.
The key market players are working on manufacturing premix bread flour in order to gain a greater market share. Both domestic and international companies are investing in and utilizing advanced technology to expand their business operation and capture a significant share of market revenue.
Some of the leading market players operating in the premix bread flour market are Lesaffre, Puratos, Corbion, Karl Fazer AB, Cargill Inc., Archer Daniels Midland Inc., Midas Foods, and KCG Corporation among others. Premix bread flour manufacturers are focusing on innovations to maintain the quality of the flour.
These companies have a strong market presence and also adopting strategies like focusing on product quality and pricing, also the market players are competing based on product quality, pricing and brand reputation, and distribution network.
For instance, in July 2022, Corbion opened a new customer support and innovation center in Singapore. With a significant capability in food preservation, the laboratory will enable Corbion to better meet the needs of its customers in the Asia/Pacific region across a variety of categories, like meat, sauces, dressings and condiments, baked goods, refrigerated food, beverages, and confectionery.
| Data Point | Key statistics |
|---|---|
| Expected Market value in 2023 | US$ 1.6 Billion |
| Projected Market Value in 2033 | US$ 2.6 Billion |
| Growth Rate (2023 to 2033) | CAGR of 5% |
The global premix bread flour market is expected to witness lucrative growth over the forecast period, owing to increased demand for bakery products and increased consumption of bread products.
Premix bread flour contain a unique mixture of baking ingredients, which provides variety of colours, texture and flavours. Premix bread flour offers a number of benefits to the manufacturers such as, better product reliability, reduced inventory and labour cost and potential for improper weighing of ingredients used in the processing of bread products. The manufacturers also includes combinations and fermentations of flours in premix bread flours.
Over the last few years, food consumption patterns have seen a major shift due to the changing consumer preferences. In recent years, increasing concerns about gluten allergy and intolerance have increased the opportunities for gluten-free products such as gluten-free bread.
In addition, the many advantages of gluten-free bread, including improved digestive health, weight loss, prevention of fatal diseases and the lowered cholesterol levels, have increased demand for premix bread flour especially in developed regions.
Worldwide, customers are increasingly searching for healthier, low cost and quicker ways to purchase bread products at their convenience and price. As hectic working schedules leave little opportunities for people to prepare proper bread, meals and baked snack goods such as burgers, wraps, and sandwiches have become simple replacements to daily meals.
Nevertheless, such food items have long been the source of many health issues and, as a result, consumer tastes are increasingly moving towards healthy and natural food. This shift towards healthy and natural food driving the growth of global premix bread flour market.
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Natural baked food items have important vitamins and fibres that are required for the wellbeing of the user. Growing dietary and health concerns among people are driving the consumption of brown bread. In view of the bread demand, the demand for white bread has a greater market share of bread and baked food compared to brown bread.
The adoption of bread by health-conscious consumer in their regular diet fueling the growth for premix bread flour market across the globe. The growing online retail sales have created a better opportunity for the global premix bread flour market. With digitization, changing customer behaviour and a drive for rural growth, the bakery industry has undergone significant changes over the last two decades.
Consumers are typically searching for product deals at very inexpensive or discounted prices. Customization has a higher command of consumer engagement. Customers often discover new product offerings that fit their interests.
Some of the key players operating in the global premix bread flour market includes,
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Europe is accounted for the largest market share of the global premix bread flour market but North America and Asia Pacific is anticipated to witness lucrative growth over the forecast period. The demand for convenience food from emerging countries, owing to hectic lifestyle, rapid urbanization and rising disposable income driving the growth of global premix bread flour market.
The increasing awareness among millennial’s population about healthy and natural products in emerging countries such as Brazil, India, United Kingdom fueling the demand for premix bread flour market.
The premix bread flour market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the premix bread flour market, including but not limited to: regional markets, source, type and distribution channel.
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The premix bread flour market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases).
The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the premix bread flour market report projects the attractiveness of each major segment over the forecast period.
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