Market for Healthy Bakery Ingredients

The bakery market, according to IMARC, is likely to grow at a CAGR of 9.9% between 2024-2032. The growth has been mainly because the industry is aware of the consumers' growing demand for healthy low trans-fat, bakery items and is making all efforts to meet this requirement. The basic ingredients thus need to be altered and this provides a prodigious opportunity for an enterprising entrepreneur to venture into a lucrative market - The Bakery Ingredients Market. But for this the entrepreneur has to make a thorough study not only of the growing needs of the industry but also the different healthy ingredients that the industry will need in the future. Ashok Malkani deliberates on the healthy raw materials that are likely to be used by the industry, thus enabling the entrepreneurs, keen on entering the business, to succeed.

- Ashok Malkani

Demand for bakery products has been increasing constantly. According to Research Markets, the Indian bakery market size had reached S 12.6 billion in 2023 and was expected to grow, at a CAGR of 9.9%, during 20232032, to reach $ 29.4 billion by 2032.

The growth in this sector has been mainly due to urbanization, increasing disposable incomes and adoption of western culture by people. However, over the past few years during the pandemic and post-pandemic - consumers have been choosy about food and are increasingly opting for healthy and nutritious foodstuff. Baked food is becoming the preferred choice. Bakeries have to pay heed to this desire of consumers.

And one way of satisfying this requirement is by using healthy ingredients! Bakeries, aware of this trait of consumers for healthy bakery products, have increased usage of healthy ingredients. For an enterprising entrepreneur, keen on entering the bakery industry, there is an attractive option of venturing into nourishing and healthful ingredients market for the wide-ranging bakery products.

One may mention that the scope of incorporation of health-efficient ingredients in bakery products is leading to new product launches and market expansion activities. Several bakeries, to allure customers who are health conscious and are looking for bakery products that are tasty as well as having healthy ingredients, are using clean-label ingredients, such as non-GMO (genetically modified organism) and nongluten products.