Bakery Ingredients Market Growth

The Indian bakery industry has been growing at a rapid pace due to the busy lifestyles, changing eating habits and western influence, particularly among the millennial. The rising health consciousness, not only of the millennial but of consumers of all ages, has encouraged manufacturers to focus on healthier products like brown, multi-grain and whole wheat breads. Environmental concerns are also increasing sales of organic bakery products. The rapid growth of the bakery industry and the quick changes that are taking place provides an opportunity for entrepreneurs to venture in the bakery ingredients market which is in a fast-growth mode. Ashok Malkani looks at the changing scenario in the bakery industry and the ingredients commonly used by the bakery industry, to help entrepreneurs planning to enter the bakery ingredients’ arena.

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The Indian bakery industry is in a growing phase. Harsha Bhagwat, executive sous chef, Rich Graviss, while speaking at ‘Rich’s Gourmet Guide - The Bakers’ Lounge’, some time back in Mumbai, said, “As far as the size of the bakery market is concerned, Tier-I and II cities are growing, but in Tier-III cities, there is a boom. There has been a shift from mainstream breads, toasts and khari to cakes. There is immense growth and potential in the bakery industry.”

It may be mentioned that the Indian bakery market reached a value of $7.22 Billion in 2018. Bakery is one of the largest food industries comprising of different products like breads, biscuits, pastries, cakes, buns, rusks, etc. Most of these products, due to the changing lifestyle of Indians, are gaining in popularity trends.

India, with its growing population and increasing disposable incomes, is the major market for the baked goods, and bakery ingredients. Consumers are willing to pay more for a healthier profile in the bakery products, which drives the growth of this market. The growth in the Bakery industry has been rapid. It may be mentioned that India has over 2,000 organised or semi-organised bakeries and 1,000,000 unorganised bakeries.

India’s bakery industry, which generally includes biscuits, cakes, pastries, flatbread, tortilla, bun, croissant, etc., has been growing at a rapid pace owing to their pleasant taste and health benefits as they are made from variety of grains such as rye, maize, wheat and oats, among others.