Posts Tagged ‘global market’

Global Cookies Market Will Reach 38 Billion USD by 2022

October 7th, 2017
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A The global cookies market has come into the limelight in recent years as a result of flavour, taste, shape, and packaging innovations mainly driven by health and safety concerns from both regulatory authorities as well as consumers. Cookies are typically eaten as an anytime snack and were initially viewed as an indulgence. Today, a number of companies have cookies with ingredients such as oatmeal that are actively marketed towards health-conscious individuals. The cookies market is estimated to witness a robust CAGR of 5.8 percent from 2017 to 2022 – says Persistence Market Research in a new report.

Modern trade accounts for roughly a third of the revenue share in the cookies market by sales channel segment in 2017. Modern trade segment is projected to be worth more than 12 billion USD by end 2022, making it critical for stakeholders in the cookies market to effectively exploit this sales channel segment. The rapid economic growth observed in the APeJ region – Asia-Pacific excluding Japan – should certainly benefit the APeJ modern trade channels and companies are recommended to devise their strategies accordingly. Traditional grocery stores are half the size of modern trade in terms of revenue share and are unlikely to outpace the latter anytime soon in the cookies market. Although APeJ is the largest regional contributor in the traditional grocery store segment, Latin America is predicted to record a much higher CAGR for the period studied.

Convenience stores are a relative minnow in the cookies market as this segment has a revenue share in single digits. Nonetheless, the APeJ convenience store segment is on track to move past 400 million USD by the end of 2022, making it unwise to overlook this sales channel entirely in favour of either modern trade or grocery stores in the cookies market. As Internet infrastructure improves, particularly in Latin America and APeJ, ecommerce should become a much preferred option for many consumers because of its numerous advantages. The online channel segment has the maximum growth potential in APeJ as millions of individuals using the Internet for the first time in this dynamic continent and can easily by tapped by cookie makers that focus their attention on online marketing

Oatmeal has a revenue share of slightly over a sixth of the cookies market by ingredient and is likely to gain share over the next five years. Oatmeal is considerably healthier than either chocolate cookies or chocolate chip cookies and can be marketed extensively to customers as a tasty yet healthy option. A robust CAGR of more than six percent for the period from 2017 to 2022 makes the prospects of the oatmeal segment very bright indeed in the cookies market. It remains to be seen if they can outpace the perennial forerunner in the cookies market – chocolate cookies.

Source: bakenet:eu


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Frozen Bakery Market to Grow Worldwide by 2020

March 25th, 2017
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The frozen bakery market makes up around 8% of the total frozen food market across the globe. The market is embracing more diversified operations, which offer sophisticated and healthy products.

Malarkodi Mahendran, Persistence Market Research, contributed to this article

Health-conscious consumers prefer food that contains healthy ingredients and stays fresh for a long period of time. A growing demand for these ingredients leads growth in the overall frozen bakery market, according to a report recently released by research specialist Persistence Market Research (PMR), called “Frozen Bakery Market: Global Industry Analysis and Forecast to 2020”. One of the reasons for the growth in the frozen bakery market is “food on the go”. In busier lifestyles, people tend to skip breakfast and grab bakery product that was previously frozen.

Dynamics by geographies

The market is expected to continue flourishing in the developed and developing regions of the world, the report shows. An increase in trade activities involving frozen pizza and frozen bread in Europe leads to a rise in the overall growth of the frozen bakery market. Europe contributes to this from the power stance of being the largest market of frozen bakery across the globe. North America is estimated to be second largest market after Europe, due to the increase in demand for processed food and the busy lifestyles of the population.

Asia-Pacific is the fastest growing market for frozen bakery. The growing influence of Western culture, rising middle classes with higher disposable income, and changing eating habits of consumers are some of the main reasons driving the Asia Pacific market. The growth of the frozen bakery market is expected to be fastest in the emerging market of Latin America and the Middle East up to 2020.

Expert analysis

Malarkodi Mahendran is a senior consultant with PMR. She offered Asia Pacific Baker & Biscuit her views on the report and its findings:

How has the ratio of frozen bakery goods evolved in the frozen foods category and how is it estimated to evolve?

The frozen bakery goods category has around an 8-10% market share of the total frozen food market. The market is evolved and undergone significant changes with respect to constantly changing consumer preferences. The quality frozen bakery products with natural/organic ingredients that meet most of the parameters set by consumers on the grounds of health and nutrition, will drive the market.

Which categories of frozen baked goods are driving this market, and in which areas?

Globally, frozen pizza crust and frozen bread is driving the market of frozen baked goods. Europe represents the largest frozen bakery market across the globe, followed by North America.

What are the main factors for this? Please compare the dynamics in Europe with those in the Middle East, APAC and the Americas.

On a global scale, Europe has the largest market for frozen bakery products and is expected to maintain its dominance in the future. Hectic lifestyles, coupled with increasing numbers of working women, are driving the frozen bakery products market in Europe. The preference among European consumers for convenience foods will undoubtedly drive growth in the frozen bakery products market.

In North America, the frozen bakery market has undergone a significant change in recent years due to changing consumer trends for frozen bakery products offering high nutritional health value, while clean label is driving growth of the market. To meet these parameters, frozen bakery product manufacturers are producing goods that are organic/natural or free-from products to retain consumer trust.

The increasing disposable income levels within the middle-class economy and growing urban population in countries like India are among the strong factors influencing the frozen bakery market in the developing countries of the Asia Pacific region.

Due to the high consumption of bread in Middle Eastern countries, bakery is a major processed food sold in this region. Most of the processed food products are imported into these countries and therefore supplied in frozen form. This is one of the main reasons driving the frozen bakery food products market in the Middle East.

Source: World Bakers


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Global sourdough market to grow at 6.8% CAGR through 2026

March 25th, 2017
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Of the US$3.2 billion worth of sourdough sold in 2016, demand from the bread segment totaled US$2.36 billion.

The US$3.2 billion sourdough market will continue to be positively influenced by increasing application in bread production. Of the US$3.2 billion worth of sourdough sold in 2016, demand from the bread segment totaled US$2.36 billion. This segment is projected to increase at a CAGR of 7.1 percent through 2026. According to Future Market Insights’ report, the dominance of the bread segment can be gauged from the fact that other key application segments – pizza, buns, cakes, cookies, and waffles & pancakes – collectively accounted for nearly 27 percent revenue share.

Western Europe continues to the largest market for sourdough, accounting for nearly 38 percent share of total revenues in 2016. Adoption of sourdough in Western Europe food manufacturing units continues to remain strong. Future Market Insights estimates the Western Europe sourdough market to increase at a CAGR of 7.1 percent through 2026. In terms of revenues, the market is projected to grow 2X from its 2016 market valuation of US$1.21 billion. In terms of volume, over 552,000 tonnes of sourdough was sold in 2016; FMI estimates it to reach over 975,000 tonnes in 2026.

Key supply-side and demand-side drivers

  • According to Future Market Insights’ report, demand for sourdough is increasing on account of its beneficial functional properties. Its property of enhancing flavor and texture is a key factor for its applications in the F&B sector, especially bakery sector
  • Increase in the number of artisan bakeries is positively influencing the demand for sourdough. Particularly high demand for type 1 sourdough – made using only wild yeasts – is being witnessed in artisan bakeries
  • Availability of sourdough products on e-commerce stores is also contributing to increasing sales
  • Growing demand for sourdough from the fast food and bakery sector is creating sizeable growth opportunities for manufacturers

High cost of sourdough products is a major impediment to their widespread adoption in developing countries.

Key trends expected to shape global sourdough market

  • Dehydrated sourdough (Type III) is gaining traction in the bakery industry. Freeze-drying remains the preferred dehydration technique for manufacturers.
  • Manufacturers are using devitalized sourdough for enhancing the aroma of products. Devitalised sourdough does not contain live organisms, enhancing its use as an aromatic agent
  • Consumer demand for healthy food products has resulted into the launch of chocolate sourdough loaves. Further, Future Market Insights identified increasing use of type I sourdough.

Sourdough market forecast and analysis by starter culture

Type III starter culture currently accounts for nearly half of the revenue share of the global sourdough market. Over 773 thousand tonnes of sourdough was sold in 2016; by the end of the forecast period, Future Market Insights estimates global volumes to surpass 1.3 million tonnes.

Future Market Insights maintains a positive outlook on the global sourdough market, projecting it to grow by 6.8 percent CAGR through 2026 in terms of value. In terms of volume, demand is projected to grow at 5.5 percent CAGR.

Source: Asia Food Journal


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Brazilian confectionery market breaks R$10 billion mark

February 15th, 2013
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BrasilNew research from Mintel reveals that the sugar and gum market in Brazil has, for the first time, broken the R$10 billion (€3.8bn) barrier. And it’s a sweet outlook for the future of the sector too, as Mintel forecasts market revenue to grow at a rate of 5% a year, annual growth peaking at 6% in 2014 and 2016, when the World Cup and Olympic Games will take place. Furthermore, by 2017 the market is set to reach a mouthwatering R$14bn (€5.3bn). While value sales continued to grow, volume levels have remained stable, at an average of 260 thousand tonnes a year from 2007 to 2011.

Jean Manuel Gonçalves da Silva, senior food analyst at Mintel, says, “Over the past five years, the confectionery market has shown fast revenue growth against stable growth for sales volume. Apart from raw material price increases, in sugar in particular, the market was also boosted by a better product offering. Higher quality and more expensive sugar confectionery and gum products have been developed – which, coupled with increased income from Brazilian consumers and a desire for innovation – have really boosted the market over this period.”

The demand for more sophisticated products has been catered for by both imported and products made in Brazil alike. The volume of importation grew 40% between 2007 and 2011, whilst in value, importation has nearly tripled over the same period of time, highlighting the shift towards more expensive products in Brazil.

The report also reveals that Brazilians are open to new flavours and products, especially consumers aged between 16 and 24 years old. Indeed, 76% of Brazilian consumers in this age group claim that they like to try new kinds of gum and sugar confectionery.

“The growth on raw materials has triggered innovation and reformulation in the sugar and gum category in Brazil. As a result of this, items with more flavour appeal have been developed in order to justify price increases – and there seems to be big demand among Brazilian consumers to purchase this new product development.” says Gonçalves.

The research also highlights how, on the whole, confectionery is more frequently consumed than gum. Some 40% of Brazilians tend to consume sugar confectionery at least once a week, while 30% consume gum with the same frequency. In addition, both sectors are consumed more frequently by younger consumers than older consumers, but this difference is much more pronounced in the gum segment than in the sugar confectionery sector. Chewing gum in particular struggles to maintain usage among older consumers. But it is not just the young who are particularly keen on gum, it seems that those consumers on higher income tend to have a particular penchant for chewing gum.

According to Mintel´s Global New Product Database (GNPD), new sugar confectionery and gum product launches in Brazil have grown nearly 40% from 2007 to 2011, while in the US, launches have dropped by nearly 50% in the same period of time.

“The popularity of new lines of sugar confectionery and chewing gum, either with new products or new varieties, means Brazil is an ideal market for confectionery NPD. There’s a constant move towards innovation in Brazil, indicating that success is related to ongoing development, where products are always focused on quality and responding to consumer demand”, says Gonçalves.

Health and wellness are high on the consumer agenda as, simultaneously, 64% of consumers say they prefer confectionery made with natural juices, highlighting another area ripe for more innovation. However, natural products currently represent just a small proportion of category launches, highlighting potential for more NPD in this area – as just 2% of new sugar confectionery launches in Brazil carried an ‘all natural product’ claim in 2011.

Source: Sweets and Snacks Europe


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Artificial Sweeteners Market to Reach $1.5bn

October 9th, 2010
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A new study has forecast that the global market for artificial sweeteners will reach $1.5bn by 2015.

The market is expected to be driven by factors including increasing diabetic patient population, surging risks of heart diseases and a health-conscious population, Global Industry Analysts said.

The report said the demand is also expected to be stimulated by weight reduction efforts, attempts to develop foods for diabetic patients and others who need to cut sugar intake.

Beverages, diet soft-drinks, dairy products, salad dressings and salty snack foods will continue to remain the principal market for artificial sweeteners.

The US, Europe and Asia-Pacific markets, which collectively account for about 85% of the global artificial sweeteners market, will continue to dominate, it said.


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