The global sourdough market size is anticipated to touch USD 3.5 billion by 2025, according to a new report by Million Insights. The market is estimated to ascend at a CAGR of 5.7% and is likely to see huge demand for bread over the next few years.
The bread segment held the largest market share and it is expected to continue its dominance over the forecast period. Factors such as nutritional values and the introduction of new flavors in the bread are bolstering the segment growth across the globe with European countries being the major consumers. The growing popularity of artisan bread in countries such as Germany and U.K is estimated to propel the market growth from 2019 to 2025.
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Growing demand for products that are gluten-free is attributing to the market growth. Health benefits are the major factors driving the demand for these products. The sourdough product eliminates the need for chemical and preservatives, thereby, attracts health-conscious consumers.
Rising demand for artisan bakery across the world is positively affecting sourdough market growth. Asian countries such as China, Japan and India are among leading consumers of such products. Factors such as out-of-dining culture and the growing popularity of coffee are aiding to the market growth.
Asia Pacific is estimated to ascend with a significant CAGR over the forecast period. For manufacturers, the region offers a lucrative opportunity as raw materials are readily available in Asia Pacific. Further, changing consumers’ preferences are positively affecting the players operating in the region.
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Further key findings from the report suggest:
• Among different types, type III accounted for USD 1.1 billion of revenue in 2018. Further, the segment is projected to maintain its dominance by reclaiming 46.8% of the market share by 2025.
• By application, the pizza segment is anticipated to grow at a CAGR of 6.5% over the forecast duration.
• Europe accounted for 30.4% of the market share in 2018 owing to growing demand in countries such as U.K, Germany, Netherlands and France.
• The market is characterized by high competition among several key players.
Million Insights has segmented the global sourdough market on the basis of type, application, and region:
Sourdough Type Outlook (Revenue, USD Million, 2014 – 2025)
• Type I
• Type II
• Type III
Sourdough Application Outlook (Revenue, USD Million, 2014 – 2025)
Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
Browse latest market research reports available with Million Insights:
• Frozen Bakery Market: The global frozen bakery market size was estimated at USD 7.54 billion, in 2018 and is projected to grow at a CAGR of 4.8% from 2018 to 2025.
• Powdered Sugar Market: The global powdered sugar market size was valued USD 5.62 billion, in 2018 and is anticipated to grow at CAGR 4.2% over the forecasted period.
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