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Baking Enzymes Market Size
- Report ID: GMI2379
- Published Date: Feb 2022
- Report Format: PDF
Baking Enzymes Market Size
Baking Enzymes Market size exceeded USD 624.77 Million in 2023 and is estimated to grow at over 6% CAGR from 2024 to 2032.
Positive outlook for processed and packaged bakery products owing to busy lifestyle and increase in preference for fresh & ready-to-eat breakfast food will drive the baking enzymes market growth. Baking enzymes act as a catalyst for biochemical reactions that offer quality improvements in numerous processed bakery products. Moreover, application of the enzyme in gas retention, reducing protein flour levels in crackers and biscuits, standardizing bread quality, and ensuring uniform browning of the bread will support business expansion.
Increasing consumption of processed bakery items around the globe coupled with high prominence of enzymes in bakery products including bread, cakes, and pastries will stimulate product demand. Persistent developments in biotechnology industry and utilization of fermentation technology in modern bread factories will boost the baking enzymes market growth. Besides, the rising demand for enzymes to enhance the mineral bioavailability of the food will further fuel the product penetration rate.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Baking Enzymes Market Size in 2023: | USD 624.77 Million |
| Forecast Period: | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR: | 6.0% |
| 2027 Value Projection: | USD 988.8 Million |
| Historical Data for: | 2018 – 2023 |
| No. of Pages: | 120 |
| Tables, Charts & Figures: | 1,884 |
| Segments covered: | Product, Application & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The advancement in molecular biology, development in genomics, and microbial diversity is improving usage of the product over the forecast timeframe. Variation in the food regulations regarding chemical waste may positively impact the usage of enzymes in bakery applications. Factors such as surging consumer spending on food products, strong awareness about the nutritional content of emerging bakery products, and reduced demand for chemical food additives are among the key factors fostering the baking enzymes market revenue.
Growing demand for baking enzymes in food industry for improving product quality will boost the market forward. Moreover, implementation of enzymes to develop gluten-free products for baking industry will further induce growth over the forecast timeframe. Also, factors such as rapid urbanization, increment in disposable income, and rising consumption of bread & cakes among millennials will further foster myriad opportunities for key industry participants. However, excessive R&D costs and strict and critical guidelines to handle enzymes production and usage may hamper the overall baking enzymes market value.
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Baking Enzymes Market Scope
