GCC Bakery Ingredients Market projected to reach US$4.55 billion by 2028 at a significant CAGR close to 4%

NOIDA, UTTAR PRADESH, INDIA, October 20, 2023 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the GCC Bakery Ingredients Market is projected to grow at a CAGR of 3.93% between 2021 and 2028 to reach US$4.55 billion by 2028.

A surge in disposable income and customer preferences for quick-to-eat foods are the primary drivers of demand for foreign bakery items in the GCC market. The development of the industry is further aided by the introduction of novel tastes and creative packaging. The demand for bakery items in the region is being driven by the growing food processing industry as well as the growing impact of Western cuisine trends. Additionally, the industry is expanding due to the expanding number of food service businesses and the broad availability of a variety of bakery product lines. The demand for the product is also being supported by a notable increase in the number of artisanal bakeries and patisseries that provide a variety of cakes, pastries, tarts, macarons, pies, and other treats.

The Gulf Cooperation Council (GCC) provides a broad platform for exporting bakery goods from across the world while also satisfying local consumer demand. Saudi Arabia is the largest of the GCC countries; the fastest-growing countries in the area are the UAE, Kuwait, and Bahrain. Because of Kuwait's unique climate, the country produces very little agricultural output domestically, despite a growing need for bakery goods and ingredients. The growing trend of presenting baked goods at social gatherings, business parties, unique and festive events, etc., is a primary factor driving the GCC market. Aside from this, an increasing number of creative product variations, including bakery goods that are gluten-free, vegan, and lactose-free, have emerged as a result of consumers' increased health consciousness is boosting growth. Moreover, the growing apprehension among consumers over the existence of artificial ingredients in traditional bread products is driving the market for clean-label and organic alternatives. In addition, several local producers are concentrating on creating premium baking ingredients to extend the shelf life of baked goods and give them a deeper flavour and texture. Throughout the projection period, the market for bakery goods in the GCC area will continue to be driven by the aforementioned reasons.

The market is witnessing multiple collaborations and technological advancements, for instance, Kerry, a globally recognized leader in taste and nutrition, has formally inaugurated a brand-new 21,500-square-foot, cutting-edge facility at its Jeddah location within the Kingdom of Saudi Arabia. This new facility, which is Kerry's largest in the Middle East, is among the most technologically advanced and productive in the world. It produces delicious, nourishing, and sustainable food ingredients that will be distributed throughout the Middle East. The company has invested over €80 million in the region over the previous four years.

Access sample report or view details: https://www.knowledge-sourcing.com/report/gcc-bakery-ingredients-market

Based on ingredient type the global GCC bakery ingredients market is divided into sweeteners, leavening agents, enzymes, colour & flavour, emulsifiers, preservatives and others. Among these, the leaving agent segment had the major maker share. Leavening agents like baking powder are one of the main ingredients used for baking. This is owing to the increasing demand for it by consumers to increase the volume and lighten the texture of baked goods. Baking powder is a chemical leavening agent that is a mixture of weak acids and carbonates/bicarbonate. Baking powder is a pre-made concoction that may be used to prepare a variety of foods, including biscuits, bread, muffins, and pizza dough. The acid-base reaction occurs in it through which bubbles are released in the wet mixture and then it expands. Baking Powder is estimated to register a higher CAGR over the period.

Based on application the global GCC bakery ingredients market is divided into bread, cake & pastry, roll & pie, cookie & biscuit and others. Among these, the bread segment held the major market share and is poised to grow significantly over the forecast period. This can be attributed to the rising amount of bread consumed as a food and energy source. Bread is a good source of protein, carbs, and vitamins B and E. The category is growing at a faster rate due to growing awareness of the need to eat a healthy diet. Together with vegetable proteins, it raises dietary fibre content and lowers cholesterol levels in the body. The desire for other types of bread, such as wholemeal bread, is rising. Between 2021 and 2026, bread is predicted to have the highest compound annual growth rate.

Based on Geography, the Saudi Arabia market emerged as a market leader and is poised to expand significantly over the forecast period. This growth can be explained by the growing number of government campaigns to inform consumers about new developments in the bakery ingredient industry and to increase research and development efforts to incorporate bakery ingredients into health-beneficial foods. The market is expanding in this area due to rising consumer inclination toward a healthy diet and rising application numbers in the food sector.

As a part of the report, the major players operating in the global GCC bakery ingredients market, that have been covered are Cargill Inc., Archer Daniels Midland, Kerry Group, Almarai, Agthia, Al Jadeed Bakery, Aryzta AG, Gulfflavours.net.

The market analytics report segments the global GCC bakery ingredients market on the following basis:

• BY INGREDIENTS TYPE

o Sweetener
o Leavening Agent
o Enzyme
o Color & Flavor
o Emulsifier
o Preservative
o Others

• BY APPLICATION

o Bread
o Cake & Pastry
o Roll & Pie
o Cookie & Biscuit
o Others

• BY GEOGRAPHY

o United Arab Emirates
o Saudi Arabia
o Qatar
o Oman
o Kuwait
o Bahrain

Companies Profiled:

• Cargill Inc.
• Archer Daniels Midland
• Kerry Group
• Almarai
• Agthia
• Al Jadeed Bakery
• Aryzta AG
• Gulfflavours.net

Explore More Reports:

• The malt extracts and ingredients market: https://www.knowledge-sourcing.com/report/global-malt-extracts-and-ingredients-market

• The global dairy ingredients market: https://www.knowledge-sourcing.com/report/dairy-ingredients-market

• Global Bulk Food Ingredients Market: https://www.knowledge-sourcing.com/report/global-bulk-food-ingredients-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
[email protected]
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