The fortified bakery products market is likely to garner a CAGR of 5.3% during the forecast period (2017-2023), Market Research Future (MRFR) unveils in a detailed analysis. Fortified bakery products are usually prepared by adding nutrients to the product, which enhances the quality of the food. Bakery products are baked by dry heat in the oven and are packed in aseptic packaging material. They are consumed in large quantities owing to their affordability and high nutrient value.
Market Potential and Pitfalls
The fortified bakery products market is expanding at breakneck speed, mainly due to the ever-increasing population across the globe. The shifting pattern in eating habits among the consumers and the growing female working population has further contributed to the market’s growth. Fortified bakery like cookies, cakes, cupcakes, biscuits, and pancakes are highly enriched with nutrients which have uplifted the market growth. The high availability of bakery products like organic, gluten-free, low-calorie, sugar-free, and fortified has attracted a huge consumer base owing to their health benefits. Such factors are likely to influence the growth of the market in the coming years. Consumers are presently highly attracted to health and wellness, which has extremely impacted the demand for healthy bakery items. The surging demand for healthy food products due to increasing awareness towards weight management is likely to enhance the sale of low-calorie and gluten-free bakery products, thereby boosting the market growth in the coming years.
On the contrary, the high cost of fortified bakery products due to the added nutrient value, low accessibility, and a dearth of knowledge among the consumers regarding these products are vitiating the growth across the globe.
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The prominent players dominating the global Fortified Bakery Products Market comprises
- Lewis Brothers (U.S.),
- Puratos (Europe),
- Britannia Industries Ltd. (India),
- Grupo Bimbo (Mexico),
- Sara Lee Bakery Group (U.S.),
- Nestle (Europe)
- Flowers Foods (U.S.)
May 16, 2019: One of the world’s largest producers of frozen bakery products, ARYZTA AG, previously sold loaves of rolls and bread comprising an earlier version of LeanLife’s proprietary Omega-3 product. This has been followed by several months of technological studies, testing, and measurement of satisfactory consumer acceptance by ARYZTA. A trial application of LeanLife’s Omega-3 product considered as a direct substitute for vegetable oil in producing chocolate muffins has demonstrated its great taste and ease of use.
The global fortified bakery products market is segmented on the basis of form, type, nutrients, claim, and distribution channel.
By mode of type, the fortified bakery products market is segmented into bread & rolls, cake & cheesecake, biscuits & cookies, doughnuts & muffins, pancakes & waffles, cupcakes & brownies, sandwiches & wraps, pies & tarts, and others. Among these, the cake & cheesecake segment dominates the type segment due to its high consumption globally.
Based on form, the market is segmented into fresh and frozen. Among these, the fresh segment acquires a considerable share owing to its ease of availability and high demand among the consumers.
The nutrients segment comprises minerals, vitamins, and others. Among these, the vitamins dominate the segment due to its high use in the fortified bakery products.
Based on claim, the market is segmented into sugar-free, gluten-free, low-calories, and others. The gluten-free segment dominates the global market due to the surging demand for gluten-free bakery items, especially among the gluten intolerant consumers.
The distribution channel comprises store based, and non-store based. The store-based channel dominates the global market due to the one-stop shopping experience.
Geographically, the Fortified Bakery Products Market spans across Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Considering the global scenario, the Asia Pacific region is considered to expand at the highest rate due to the ever-increasing population along with the shifting food habits of the people. The growing awareness of the consumers towards wellness and health has further uplifted the demand for bakery products in the regional market. Due to the surging demand for high-nutrition bakery products, Asia Pacific is emerging as the fastest growing region. The busy, on-the-go lifestyle requires a quick meal. Consumers look for high nutrient content, proper taste, and value for money. Such factors further trigger the demand for fortified bakery products in the regional market.
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