The global frozen bakery additives business will be worth more than $1.46 billion by 2018, expanding at a compound annual growth rate of 6.8% from 2013 to 2018, according to a report issued recently by MarketsandMarkets, a Dallas, Texas, USA-based research and consulting company.
Value is identified for all major regional markets and segmented on the basis of product types and applications, ranging from colorants and flavor enhancers to sweeteners, stabilizers, thickeners, emulsifiers, enzymes, oxidizing and reducing agents. The “other additives” category accounts for the biggest piece of the action. Emulsifiers are identified as having the second-largest share of the market, due to their role in increasing the shelf life and improving the structure of frozen baked goods.
Regions covered in the report are North America (USA, Canada and Mexico), Europe (including Russia), Asia-Pacific and Rest of the World (including Brazil and South Africa). While the market will continue to flourish in both developed and developing countries, it is emphasized that expanding economies in Asian and Latin American nations are expected to offer the best potential for building new business. Growth will come from rising demand for healthy and nutritious products, and from the developing world’s increasing appetite for processed food.
Three companies in the USA are among the largest global players in the frozen bakery additives business, with the top five producers worldwide claiming more than 28% of the market. Minneapolis, Minnesota-headquartered Cargill Inc. ranks No. 1. Among other leading suppliers are Archer Daniels Midland Company (USA) DuPont (USA), Associated British Foods Plc (UK), Novozymes (Denmark), Kerry Group (Ireland) and Royal DSM N.V. (The Netherlands).
