COVID-19 Impact Analysis on Bread Improvers Market
Some of the factors driving market growth are the increasing need for bread improvers to enhance the dough, sensory characteristics, better taste and shelf-life. Increasing demand for emulsifiers is a significant fueling factor for the market, particularly in bakery applications.
Besides this, enzymes found in the outer layer of the grain kernel are responsible for maintaining the dough as well as for improving resistance during the processing phases. Growing awareness about the importance of bread improvers in the baking industry is expected to be a key driver of the market over the forecast period.
The dynamics however changed on account of the recent coronavirus outbreak. As per current market surveys, while likelihood of bigger commercial bakeries of surviving the looming recession caused due to coronavirus outbreak is considerably high, smaller companies and micro bakeries are particularly vulnerable.
However, this does not make bigger brands immune to the ongoing turmoil. Some of the most celebrated names such as PepsiCo had to halt their production of snacks and cereal brands following the spread of infection among employees.
Nonetheless these companies are determined to ramp up their production to offset the looming threat from coronavirus outbreak. As their operations limp back to normalcy following the lockdown period, the bread improvers market will start gaining momentum.
Asia Pacific is Projected to Witness the Fastest Growth
The Asia Pacific bread improvers market is expected to be experiencing the fastest growth due to the growing demand for convenience foods due to customer busy lifestyles. As a result of urbanization, hectic lifestyles and high disposable income, there is growing consumption of on - the-go and ready-to-eat breakfast meals. This trend is expected to drive the region's growth of bread improvers, as it is expected to consume the growing amount of bread and bread products.
This area also provides room for product innovation in the bakery industry, as customers have diverse tastes and preferences and are searching for a range of rolls and breads. This has offered manufacturers the opportunity to expand their product portfolios. Such market potential is anticipated to impact the bread improvers market positively during the forecast period.
Besides, due to the spread of coronavirus the market may be experiencing resistance to growth in the area. The US is one of the hardest hit countries in the world, struggling to control coronavirus spread in a wartime footing. Various regulatory measures placed to curb mobility and avoid the spread of COVID-19 are hampering supply chain functions. This could have adverse effects on the market.
Bread Segment is Estimated to Account for the Largest Share
The breads segment is estimated to account for the largest share for bread improvers market because of the rising demand for convenience food, which is giving rise to the growth of consumption of different forms of bread products. Also, as consumers are shifting towards healthier food options, they are opting for gluten-free and high nutritional breads. Innovative products such as fortified breads, organic breads, buns, and flavored breads drive the growth of the breads segment, making it a major holder of the bread improvers market.
Throughout the North American and Asia Pacific regions, there is an growing trend of eating bread throughout breakfast and meals, which is also helping this segment to expand. With the rising consumption of bread products, such as pizza, doughnuts, and pies, the other applications segment has shown significant growth during the forecast period.
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How Growth will Unfold
The target audience for the global bread improvers market includes business groups, manufacturers of bread improvers, retailers of bread improvers, suppliers of bread improvers, and distributors of bread improvers, policy and research agencies, manufacturing and community bodies, suppliers of raw materials, distributors and others. Europe's bread improvers market is expected to account for a large share of the global bread improvers market in terms of sales.
Asia Pacific bread improvers market is expected to see the highest revenue growth in the next ten years, owing to increased demand for bread and rolls in the region's countries due to evolving food habits. Huge intake of bread and bakery related goods, creative bread product offerings by bakery item manufacturers and increased demand for convenience food products are some of the main trends influencing the bread improvers market's growth.
BREAD IMPROVERS MARKET TAXONOMY
The global Bread Improvers Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Oxidizing Agents
- Reducing Agents
- North America
- Latin America
- East Asia
- South Asia