FOOD, NUTRITION AND ANIMAL FEED
Essential oils market to garner lucrative returns from aromatherapy applications, lavender oils to observe commendable sales over 2018-2024
A renowned American aromatherapy and essential oils market player Honé has recently announced that it is proudly taking the concept of aromatherapy several notches up with its all brand new ‘essential oil scented nose diffuser.’ Honé’s introduction of a remarkable and innovative way of reducing unpleasant smell by wearing a discreet nose diffuser has been touted to help the company garner substantial proceeds in the years ahead. For the record, the nose diffuser is an essential oil scented and flexible nose ring designed to prevent odors from entering the nose, while giving a pleasant effect on the users’ mood & daily routine. The company, for its essential oil scented nose diffuser, has launched a campaign to raise crowdfunds on Kickstarter.
U.S. Essential oils Market Size, By Product, 2017 & 2024, (Kilo Tons)
Another instance worth mentioning is of Airtab, which is a social engagement app, and has recently launched a platform dedicated to mixology events hosted by dōTERRA® Wellness Advocates that will be emphasizing on preparing cocktails infused with essential oils. With all these aforesaid instances in view, it wouldn’t be wrong to quote that the use of essential oils has exploded to new heights in the past few years. The unprecedented surge in product innovation and increasing R&D investment for developing alternative remedies from essential oils have turned this once small-scale business into a multi-billion-dollar industry, with global essential oils market valuation surpassing USD 7.16 billion in 2017.
The remarkable industry valuation also throws lights on the growing popularity of essential oils in the cosmetics & toiletries, fragrances, aromatherapy, food & beverage, pharmaceutical, and other sectors. Reliable reports claim that the overall essential oils industry share garnered hefty remuneration from the food & beverage application, given the extensive demand for black pepper, rosemary, clove, orange, lemon, and cinnamon oils for cooking and flavoring cuisines & beverages. Another vital factor driving the demand of essential oils market from the F&B industry is the supportive FDA regulations regarding the approval of natural, plant-based and organic oils, offering antimicrobial and antioxidant properties, for consumption. Analyzing these emerging trends, estimates claim that the global essential oils market from F&B application is projected to surpass 145 kilo tons of demand by 2024.
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Aromatherapy is forming another lucrative application segment, which is gaining immense traction of late, given the growing population looking for alternative remedial treatments and replacement for pharmaceutical drugs. Rising demand form health conscious consumers for aromatherapy to balance their mental and physical well-being is expected to significantly fuel the product demand. With an estimated valuation of over USD 2.5 billion by 2024, aromatherapy application is expected to be nothing but a profitable growth avenue for essential oils market.
Speaking along similar lines, lavender, tea tree, orange, and mint are few among the other popular essential oil products witnessing extensive demand in the recent years. Therapeutic benefits of these oils, have pushed the commercialization matrix of this business space to next level. Say for example, lavender oil has been shown effective in relieving nervous tension and stress to improve productivity. It is moreover being used in combating serious health issues such as chronic anxiety, stress, cancer, and has also proved beneficial in reversing the signs of ageing, headaches, and pain relievers. The extensive demand for lavender oils from aromatherapy, pharmaceutical, and cosmetic applications is further expected to stimulate the essential oils market size in the ensuing years. Research reports project the overall lavender oils market to exceed demand of over 20 kilo tons by 2024.
This potential growth statistics surrounding the application and product landscape of essential oils industry is indicative of better expansion prospects within the wellness industry. As of now however, though their use is gaining traction, scientific research and development into essential oils are still in the embryonic stages. Growing investment in R&D projects for innovative oil extraction techniques and development of microencapsulation of these products will further have a remarkable influence on the profitability quotient of this business sphere. A presumption bearing testimony to the same is of Global Market Insights, Inc., that claims the global essential oils market to hit a remuneration portfolio of USD 13 billion by 2024.
Author Name : Ojaswita Kutepatil
Green tea polyphenols market to accumulate modest proceeds over 2018-2024, APAC to emerge as a prominent revenue pocket
Increasing tea consumption rates & awareness regarding health owing surging chronic disease prevalence is certain to fuel tea polyphenols market trends. Tea is undeniably one of the most popular beverages consumed worldwide due to its anti-inflammatory, antimicrobial, and antineoplastic properties. The product has high epigallocatechin gallate (EGCG), fibers and antioxidants which help increase metabolism and support weight reductions. According to reliable sources, more than 3 billion kilograms of tea is produced and consumed around the world yearly, validating the rising popularity of the beverage, that would consequently impact tea polyphenols industry size.
Germany Green Tea Polyphenols Market Size, By Application, 2017 & 2024, (Kilo Tons)
The potential health benefits associated with tea consumption can be partially attributed to the antioxidative property of tea polyphenols. Recent reports suggest that green tea consumed in a balanced diet can improve the overall antioxidative status of the body, as well as protect against oxidative damages. Tea preparation has also been depicted to ambush reactive oxygen species, such as hydroxyl radical, superoxide radical, peroxyl radical, singlet oxygen, nitrogen dioxide, nitric oxide, and peroxynitrite, reducing their damage to lipid membranes, nucleic acids, and proteins.
Tea, brewed from the plant Camellia sinensis, is largely consumed in different forms, popular among them being black, green, and Oolong teas. As per a survey conducted nearly a decade back, of the tea produced worldwide, 78% is black tea, which is usually consumed in the Western countries, around 20% is green tea, commonly consumed in Asian countries, and 2% is Oolong tea which is produced mainly in southern China. Indeed, brewed tea contains many polyphenols and other health benefiting compounds – it is thus rather overt that the rising consumption of these health-based teas will have an impact on the overall tea polyphenols market share. Reportedly, studies also suggest that polyphenolic compounds present in tea can effectively reduce the risk of a several diseases that take a heavy toll on the global populace – a fact that would serve to further propel tea polyphenols industry.
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Green tea polyphenols to emerge as a pivotal product, driven by the ability to reduce cancer occurrence
Many epidemiological studies conducted to investigate the effects of tea consumption on human cancer show an inverse relationship between tea consumption and development of cancer. Reportedly, studies were undertaken on gastrointestinal cancers in China and Japan where green tea is mainly consumed. As per medical reports, individuals who consumed over 10 cups of green tea per day showed remarkable reduction of relative risk for lung, colon, and liver cancers.
Further studies in northern Italy have also suggested the protective effects of green tea against oral, pharyngeal and laryngeal cancer. In addition, tea drinking was shown to be associated with a lower risk for digestive and urinary tract cancers in women, with a relatively lower risk for stomach cancer occurrence. Owing to the extensive prevalence of cancer worldwide, green tea is thus expected to be majorly consumed in the years to come. The antioxidants, flavonoids, and catechins present in green tea polyphenols also help reduce the formation of free radicals in the body, protecting cells from skin aging, injury, and even lowering the risk of neurological disorders. The extensive health benefits of these compounds will thus impact green tea polyphenols market size, slated to register a CAGR of 7% over 2018-2024.
Asia Pacific tea polyphenols market size driven by China, India, Japan and Australia may register a CAGR of 8.5% over 2018-2024. In fact, India is the largest producer of tea – particularly black tea. With increasing interest in green tea polyphenols however, experts suggest that there is a potential for the India tea industry to enhance green tea production and develop innovative products based on natural tea polyphenols.
Reportedly, Indian tea cultivars are currently adopting advance ways such as e-auction platforms to enhance growth of tea polyphenols for industrial exploitation. Indian companies are also looking forward to exporting new types of tea to countries like China where the demand for Indian black tea has been depicting an upsurge. Reports cite that, in 2017, India’s tea exports to China increased by around 30% (approximately 9 million kg) annually, making it a prominent region for the growth of tea polyphenols market.
China is also stepping forward as a leading manufacturer and exporter of tea extracts due to constructive government regulations. In 2018, Chinese tea companies were reported to show interest in learning about the e-auction platforms used by companies in India to bring together sellers and buyers online to streamline the marketing of tea. The motive of the initiative was to adopt India’s unique process of the e-auction of tea, so as to expand the two-way trade in tea between the two countries. As per reports, India is cited as the third largest tea exporter to China, led by Iran and Russia.
Being a dietary source of biologically nourishing compounds that help prevent a wide range of diseases, health tea is thus experiencing an increase in terms of popularity across the globe. Tea polyphenols contain bioactive compounds, antioxidants, ECGc, and essential nutrients to keep the mind calm and boost metabolism and immunity – factors that would help advance industry growth. Driven by the advancements in tea cultivation technologies and supportive government regulations, tea polyphenols market size is likely to cross 10 kilo tons by volume by 2024.
Author Name : Mateen Dalal
Essential oils-based feed phytogenics market to garner substantial returns over 2018-2024, China to remain a prominent regional contender
Increasing demand for high quality meat products, particularly in the economies of China, India and Brazil, is likely to boost feed phytogenics market, driven by the increased demand for livestock production. Phytogenics are known to have a wide range of biologically active properties, such as anti-inflammatory, antioxidative, anti-microbial and digestion-enhancement, beneficial in modern livestock production. These products are used to enhance the performance & health of livestock including ruminants, poultry, swine, and aquatic, basically for meat consumption, the upsurge in which will augment feed phytogenics industry.
U.S. Feed Phytogenics Market Size, By Product, 2017 & 2024, (USD Million)
Reportedly, the meat sector has increased its investments lately so as to meet the surging demand for high protein meat products for health-conscious consumers, and has seemingly switched to ready-to-eat (RTE) meat products due to easy availability, hectic lifestyles, and rising innovations in meat processing technology. Reports suggest that in the 2015, the China’s meat production accounted for 28.4% of the total meat production in the world, while the global meat production stood at 86.25 million tons. By adopting advanced meat processing technologies and phytogenic feed additives (PFAs), meat industry players are focusing on increasing their output yield, which would quite overtly prove to beneficial for feed phytogenics market.
Ideally, PFAs are used in the animal industry is to improve the feed quality as well as animal health and performance. The product is considered as a first alternative to AGP (antibiotic growth promotors), mainly due to its antioxidant, antimicrobial, and anti-inflammatory properties. Most reports speculate an optimistic growth in PFA promoting effects on reproduction of milk, egg, and meat. These products have found wide usage in dairy cow nutrition to enhance the technical properties of milk for cheese and butter production and play a critical role in reacting to a ruminant’s complex digestive and metabolic system. These products also impart anti-oxidative and anti-inflammatory properties to the gastrointestinal tract for the survival of calves. Driven by these incredible benefits, feed phytogenics market is expected to traverse along a positive growth path in the years ahead.
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Surging essential oils demand to augment feed phytogenic market landscape
Essential oils (EOs) are widely used as PFAs, due to their strong aromatic features and bioactivity. On account of the volatile and reactive nature of EOs, their effectiveness in animals can be influenced by different conditions during production processes, storage of EOs, and conditions in the gastrointestinal tract of the animals. Evidence suggest that PFAs containing more volume of essential oils can minimize the environmental impact of livestock industry on the atmosphere by reducing emissions of ammonia from pig production, and methane from fermentation in the rumen. Moreover, these products can increase the absorption of amylase and other endogenous enzymes, further increasing the commercialization potential of EO-based feed phytogenics market.
The use of EO-based PFAs offers several benefits to producers, including enhanced animal performance, improved feed efficiency and reduced emissions. According to reports from the animal health and nutrition company, BIOMIN, the overall phytogenic feed additives sector alone is likely to become a billion-dollar industry by 2030. A report from Global Market Insights, Inc., claims essential oils-based feed phytogenics industry size to surpass USD 380 million by 2024.
China to step up as a major consumer in the Feed Phytogenics Market
China is one of the largest beef and sheep meat producers and consumers across the globe. In 2015, the country’s sheep meat production was reported at 4.41 million tons, accounting around 30% of the world’s total sheep meat production, while beef production was reported at 7 million tons, accounting for 10.4% of the global yield, eventually making China as the world’s 3rd largest beef meat producer after Brazil and the United States.
Reportedly, steady domestic prices have attracted investment into cattle farming in the region. Experts suggest that the surge in purchases of meat products by Chinese consumers is expected to remain the main factor driving the China feed phytogenics market in the future. Indeed, China feed phytogenics market size, as per estimates, is forecast to exceed USD 50 million by 2024.
Highly appreciable benefits of feed phytogenics include, increased growth performance, digestion stimulation, increased feed intake, reduced diarrhea prevalence, improvement in reproductive system and feed efficiency. Quite overtly, the growing occurrence of diseases, rising consumption of meat and increasing healthcare regulations on the usage of antibiotics in animal feed will augment the growth of feed phytogenics market size.
Author Name : Mateen Dalal
A brief overview of beer stabilizers market in terms of the regional spectrum: APAC to remain a prominent contender over 2018-2024
The global beer stabilizers market has been assuming a rather important role in the beverage industry since a while now, though its popularity has been quite appreciable ever since its inception. Valued at over $45 million in 2017, beer stabilizers market has been growing at a commendable rate primarily based on the fact that these products are used to remove biological and chemical haze from the beverage and enhance its shelf life. The process is an extremely important step in beer production as it helps maintain the beer’s microbiological stability and facilitates head retention.
North America Beer Stabilizers Market, By Product, 2017 & 2024, (USD Thousand)
Beer stabilizers also help in maintaining the beverage’s original flavor and keep it from going stale, thus significantly increasing shelf life without sacrificing on the taste. This further allows manufacturers to produce beer in larger quantities as they do not have to fret much about flavor attenuation and product lifespan.
It is anticipated that the expansion of the global beer market – that is growing rapidly due to growing customer demands brought on by rise in disposable income and population growth across the world, would be further propelling the beer stabilizers market growth as beermakers around the world continue to ramp up production to match the growing demands.
Unveiling global beer stabilizers market trends through a regional frame of reference:
Asia Pacific (APAC)
The APAC alcohol industry is apparently a booming market – in fact, according to the 2018 Alcohol Strategies in Asia conference, APAC is the world’s fastest growing market for the consumption of alcohol and accounts for over 30% of the world’s cumulative alcohol sales with beer taking up a major portion of the sales. Beer is anticipated to maintain its position as one of the bestselling alcoholic beverages in the region as the industry witnesses further growth. According to a report by Anheuser-Busch InBev (AB InBev), APAC is the largest consumer of the beer industry and is further expected to be responsible for over 50% of the industry’s growth in upcoming years. This indeed, is the most pivotal factor that would be fueling the expansion of APAC beer stabilizers market.
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Moreover, the craft culture – though in its infancy – has recently begun to pick up significant amount of steam in Asia. The segment, significantly prominent across Europe and America utilizes beer stabilizers to help maintain a consistent batch quality. Beer stabilizers are one of the main factors responsible for the expansion of craft culture and are anticipated to play a crucial role in the growth of the APAC beer stabilizers industry, projected to register a valuation of USD 21 million by 2024.
An already developed beer market, Europe is anticipated to contribute massively to the overall growth of the global beer stabilizers industry, on account of the rising disposable income that is responsible for increased consumer spending capacity and the availability of different alcoholic beverage variations that cater to a varied demographic. After China, the European Union (EU) is touted to be the second largest producer of beer in the world with over 6500 active breweries in the region.
According to Eurostat over 41 billion liters of alcoholic beer was produced in the EU in 2017 which is 2.5 billion liters more than the 2016 production numbers. This growing rate of beer production also provides a significant boost to the growth of the beer stabilizers market in Europe. Germany was the continent’s top beer producer in 2017 and was responsible for producing over 20% (8.1 billion liters) of the total EU production making the nation a leading contributor in the regional beer stabilizers market. As per estimates, Europe beer stabilizers market is expected to witness a modest CAGR of 5% over 2018-2024
Attributing to the extensive beer production numbers, the revenue graph of the beer stabilizers market will continue to depict an exponential growth. The demand for enhanced lifespan and flavor consistency in beer production is projected to alter the global beer stabilizers market dynamics over the forthcoming years.
Author Name : Akshay Kedari
Hydrolyzed wheat protein market to amass appreciable returns over 2018-2024, escalating demand for vegan products to stimulate the industry landscape
Wheat protein market has been emerging as one of the most opportunistic business spheres, driven by changing food habits and growing concerns regarding the consumption of highly nutritional foods. As on today, many food processing companies have already started developing vegetable protein formulations for achieving a competitive edge over their rivals in the F&B sector. As the number of wheat-based food formulations demonstrate an increase, crop cultivators worldwide have been depicting an increased earnestness to produce high protein wheat.
North America Wheat Gluten Market, By Application, 2017 & 2024 (Kilo Tons)
In order to retain a dominant position in worldwide wheat production, regional governments have been rather proactive as far as agricultural development is concerned and have consequently been helping farmers harvest high-quality wheat. Taking into account the surging deployment of vegetable ingredients in food processing, regulatory bodies have included some categories of wheat proteins including whole durum wheat, wheat gluten, and durum wheat semolina under the food additives category. In addition to food, cosmetics & personal care product manufacturers are also adding hydrolyzed wheat proteins to their products.
In recent times, people have been giving preference to healthy foods owing to their changing lifestyles and rise in per capita income. In order to catch up with the changing food habits of consumers, food producing companies have been developing organic food products mainly comprising wheat proteins. Such initiatives taken by the several foods producing companies in F&B sector are likely to stimulate wheat protein market trends over the years ahead. Validating the abovementioned fact, recently, an Australian vegan brand, Funky Fields launched a vegetarian mince product at Woolworths supermarkets. In order to develop this plant-based mince, the Australian firm used a variety of ingredients including almonds, porcini mushrooms, wheat proteins, soy, and coconut. The product is likely to gain traction in the budding vegan industry, the growth of which will help players in wheat protein market garner promising gains over the years ahead.
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Another essential factor promoting the growth of wheat protein industry is the regulatory approach related to newly developed plant-based food ingredients that is prevalent in the F&B sector. For instance, recently, in India, the Food Safety & Standard Authority of India (FSSAI) has introduced new standards for eight categories under the food additives category, all of which revolve around wheat proteins. With the approval, FSSAI has allowed manufacturers to use wheat proteins in various food formulations commercially in India, propelling the regional wheat protein market share. In addition, the escalating commercial use of wheat proteins will significantly change the scenario for the agricultural sector in India. The easy availability of raw material and supportive economic policies will also be contributing majorly toward stimulating India wheat protein market size.
The ongoing efforts put forth by the research community in the development of numerous organic food formulations have been opening new doors for the players in the F&B sector. A few years earlier for example, Cargill had developed a vegetable protein formulation to be used in different types of beverages. This newly launched soft drink formulation contained soluble hydrolyzed wheat protein and witnessed an escalating demand from mainstream consumers looking for protein-rich foods. The health benefits associated with the consumption of wheat protein based drinks have considerably augmented their popularity, enhancing growth opportunities for wheat protein industry players.
Currently, hydrolyzed proteins derived from wheat are extensively being used in various cosmetics and personal care products, given their ability to treat celiac sprue disease. On these grounds, myriad personal care products manufacturers have been inclining toward gluten (wheat protein) as the main ingredient in several hair repair products, soaps, creams, and bath gels. As per a report compiled by Global Market Insights, Inc., hydrolyzed wheat protein industry will generate a revenue of over USD 300 million by the end of 2024.
The widespread application scope of wheat proteins are certain to unearth new opportunities for the contributors of wheat proteins market. The frequent launch of consumable food products comprising wheat proteins bears evidence to the fact that industry contenders have been striving to enhance the demand for these products. The evolution of healthy diets and the growing demand for nutritional foods are likely to push wheat protein market trends in the ensuing years. With the increasing acceptance of organic consumables as well as cosmetics, wheat protein market will surpass a revenue collection of USD 2.5 billion by the end of 2024.
Author Name : Sunil Hebbalkar
Food colorants market to accrue appreciable returns from synthetic colors, escalating demand for visually appealing colors to augment the industry landscape
Colors have been added to foods & beverages for centuries to stimulate appetite and enhance flavors. Global food colorants market, on these grounds, has been gaining quite some appreciation lately. Studies have found that colors play a crucial role in food perceptions. For instance, participants in a study when given a strawberry flavored candy that has been colored green instead of red have found it very hard to ascertain the flavor of the candy demonstrating that the color red helps people associate the strawberry flavor with the candy which in turn enhances the taste of the product.
North America Natural Colors Market, By Application, 2017 & 2024, (USD Million)
The food colorants industry has also received a major boost from the expansion of the food processing industry as processing of food can often affect the natural color of the food and food colorants are added to bring back the original color. Extending shelf life is also important in case of processed foods and to ensure that with extended shelf life the product does not lose its color, innovation in the food colorants industry has gained added pace.
In the present, visual centric world, color is one of the most important factors for determining what products will sell more. Judgment about quality of food and purchase decisions are also influenced by colors. For instance, studies show that consumers believe that intensely colored beverages contain more sugar than lightly colored one and thus buying light colored beverages. Manufacturers often use such king of psychological knowledge to add an extra edge to sell their products. Colors are therefore important in respect to foods as consumers often eat with their eyes first.
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Technology has been playing an increasingly big role in the food colorants industry as with the evolution of food preparation, processing and packaging, adding colors to foods have become a unique challenge. some colors interact with high fat recipes while some others are affected by pH and many are affected by extreme temperatures and UV light which makes it difficult to retain product color during manufacturing and storage. As more manufacturers are leaning towards clear container packaging to showcase product color and content to consumers, the food colorants market is also changing to accommodate such trends. For instance, yogurt packaged in clear cups with fruits at the bottom have to ensure the usage of such colors that would not change on exposure to light and in which colors from the fruits in the bottom will not migrate to the white yogurt at the top.
Synthetic colors had for long dominated the dominated the landscape of food colorants industry as they are more stable, water soluble, can be applied at any temperature and their color shades do not change. In 2017, synthetic food colors accounted for 45% share in the food colorants market aided by their easy availability, extended shelf life and stability in different formulations. The expanding beverage industry especially, has been a major consumer for synthetic colorants, expanding the scope of food colorants market from synthetic products.
But consumer demand for natural food colors has added a notable impetus to the natural food colorants market which is expected to surpass $2 billion by 2024. However, natural colors are often less stable, react to pH, light and air and are much harder to be incorporated in foods without some side effects. Formulators of natural food colorants have found it challenging to add natural colors in food that are water rich or that contain oils. Yet, food industry being consumer driven is rising up to the challenge and shift towards using more natural colors is being a palpable movement in the food colorants industry.
The young, tech-savvy consumers of the present age and their activities on the social media has added new growth avenues to the food colorants industry as adventurous, vibrant shades and designs as well as unexpected colors have become popular among customers who are always on the lookout to experience new foods and products. With technology enabling more scope for food colors to not only move from synthetic to natural but to establish a more emotional bond with consumers, it is anticipated that the food colorants market will register a diverse growth scope over 2018-2024.
Author Name : Paroma Bhattacharya
Canada frozen bakery market to be driven by the growing demand for bread products, rising veganism fad to expedite the regional growth over 2018-2024
With the global frozen foods & bakery business deemed as one of the fastest growing segments of food & nutrition industry, Canada frozen bakery market, in the recent years has positioned itself well enough for lucrative investment trends. The rapid development in the Canadian multi-chain outlets and retail-sectors, thriving the country’s economic growth and investment scenarios, have been identified as key drivers impelling Canada to hold a significant chunk in of the global frozen bakery industry. In fact, the small and multichain retailers account for over 90% of Canada’s market share and contribute nearly 30% to the nation’s GDP. To be precise, while North America seized a major portion of the global frozen bakery industry share, Canada frozen bakery market size was pegged at a modest USD 2.8 billion in 2017.
Canada Frozen Bakery Market Size, By End-user, 2013 – 2024 (USD Million)
The growing efforts of the Canadian and global industry players to adopt and evolve to the changing consumer preferences toward convenience food products, subject to the hectic lifestyles and busy schedules have further fortified the regional growth. Canada’s recently announced ban on artificial trans-fat in accordance to the rising Trans Fat Alert! trend across certain baked food products bears a significant testimony to the country’s responsive governance and enthusiastic companies.
Reports affirm that trans fats are the most commonly found in frozen food likes pastries, cakes, frozen pizzas, doughnuts, frozen chicken nuggets, and coffee creamer. In response to the implementation of law, several industry majors such as McDonald’s & Wendy’s have replaced their menus with alternatives for trans fats. These factors have been playing quite a key role in Canada’s emergence as profitable investment ground for the domestic and global companies in the frozen bakery business.
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Quite overtly, innovation in the bakery food segment has become an important sales driver in the Canada frozen bakery market, given the increasing demand for food products to be suitable for specific dietary needs. The Canada frozen bakery market, in this regard, has rapidly diversified its major flour and starch ingredients with the rising popularity of the ready-to-bake, thawed, ready-to-prove, and fully baked products. It is prudent to mention that the ready-to-bake segment accounted for the largest Canada frozen bakery market share in terms of volume in 2017, and is further forecast to register a commendable CAGR of 5.5% over 2018-2024.
Bread products to reach close to three quarters of the overall share in terms of volume by 2024
Accounting for more than 70% of the Canada frozen bakery market share in 2017, the bread segment is said to continue carving a profitable growth path in the years ahead. The growing demand for partially-baked, un-baked, and fully baked bread products have further fortified the segment growth. Another pivotal factor is the rising participation of the regional contenders in introducing new ingredient based, healthy, and innovative product ranges for customers with specific diet demands.
Recently for instance, the Canada Bread Company, Ltd., emerged a winner in two categories in the annual BrandSpark International’s Best New Product Awards. Reports reveal that the “Dempster’s 100% Whole Grain Seed Lover’s Bread with CHIA” won in the category of new breads, voted on by over 15,000 Canadian consumers. The company said that it is very pleased to receive this recognition, and unveiled its plan to continue to produce unique and high quality products for the Canadians to suite their delicious, healthy, and easy everyday meal options.
On the basis of recipe, apart from bread, the Canada frozen bakery market is segmented in terms of savory snacks, viennoiserie, and patisserie. Estimates claim that viennoiseries, comprising baguettes, croissants, chouquettes, and brioche, is emerging as another lucrative growth avenue for Canada frozen bakery market, having accounted for more that USD 400 million in 2017.
With Canada’s frozen bakery market becoming more fragmented with the growing availability of vast product ranges and myriad categories to choose from, artisan bakers are further expected to gain immense traction in the ensuing years. Furthermore, with veganism all set to gain the mainstream status in the years ahead, plant-based or vegan frozen bakeries are likely to become the potential areas of fast-growth in Canada frozen bakery industry. With robust food trends driving future investments in the region, the Canada frozen bakery market is forecast to cross USD 4.1 billion by 2024.
Author Name : Ojaswita Kutepatil