Demand for Bread Improvers Set to Regain Momentum Post COVID-19, Short-term Prospects Dented by the Crisis, Finds FMI Study

Future Market Insights, Dubai:Bakery products including bread witnessed an unprecedented spike in the first quarter of 2020 as consumers indulged in panic buying and stockpiling in response to lockdowns and stay-at-home orders. The onset of COVID-19 pandemic positioned baked products as a lasting and versatile snack or meal solution available at retail stores, suddenly fostering the prospects of bread improvers.

Global bread
improvers market
surpassed revenues worth US$ 3 Bn in 2019, according to a
recent study published by Future Market Insights (FMI). While the market is
foreseen to expand 1.7X through 2030, manufacturers will encounter significant
challenges in 2020 in terms of sourcing of raw materials, supply, distribution,
and retail sales. The domino effect of lockdowns and supply chain disruptions
will weigh heavy on the bread improvers marker in near term, says the FMI
report.

Inorganic Bread Improvers Remain Top-selling
Category

Inorganic bread
improvers account for 55% of the total sales which continue to influence growth
strategies of manufacturers. Prior to pandemic, food industry experts and
business analysts predicted momentum for organic food consumption, and the
trend is expected to continue post COVID-19 era. Therefore, manufacturers
capitalizing on organic variants of bread improvers are likely to be rewarded
in the long run.

Download Sample Copy with Table of Contents: https://www.futuremarketinsights.com/reports/sample/rep-gb-11240

“Mass closures of schools, offices, and
restaurants are driving more at-home food preparation and consumption trends,
with baking as a popular choice, which fueled significant jumps in sales of
bread improvers. However, a headwind from losing a large part of demand from
the foodservice industry in line with social distancing requirements will
become deterrent to the market growth,”

says
the FMI analyst
.

Europe (35%) and North America (27%) in the
Vanguard

North America and
Europe continue to offer lucrative opportunities for companies active in the
bread improvers market. Strong development of bakery industry in these regions
during pre-COVID-19 period has been creating tailwinds for the market growth.
Collectively, Europe and North America account for over 3/5th of the
global market value.

Bread and bakery
aisles in supermarkets are emptying. The trend if prominent across worst-hit
countries such as the U.S. and EU5, and many retailers are limiting in-store
bakery offerings as well as products lacking ‘essential’ status. This, in turn,
will have a negative impact on the bread improvers market growth during the
COVID-19 pandemic.

The FMI study offers near- and long-term growth
outlook of the bread improvers market.
Gain
access to FMI’s exclusive COVID-19 tracker here
.

Source:
Future Market Insights

FMI Blog

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