The global cake enzyme market is projected to generate significant growth opportunities from 2022 to 2032, with an anticipated compound annual growth rate (CAGR) of 5.2%. The market, valued at approximately USD 367.0 million in 2022, is expected to exceed USD 609.3 million by 2032. This growth is largely driven by the rising demand for bakery and confectionery products within the food and beverage sector.
Cakes typically contain high levels of fat and sugar and are often frozen, which can lead to staling issues. To combat this, cake enzymes like maltogenic alpha-amylases and maltotetrahydrolases are employed to reduce staling effects. Staling occurs due to alterations in the starch structure during storage.
Enzymes are biological compounds, primarily proteins, characterized by specific properties such as optimal temperature, heat sensitivity, and pH balance. A variety of enzymes are utilized in the production of baked goods, including pastries, cakes, and cookies. Key enzymes include fungal alpha-amylases, maltogenic alpha-amylases, glucose oxidase, lipase, and several others.
Key Takeaways
- Due to the rise in demand for bakery products, the demand for bakery enzymes has also witnessed an increase throughout the forecast period. The presence of various several functional properties in bakery enzymes is anticipated to fuel their demand, increasing the production of bakery products.
- Bakery items are massively used in the luxury hotel market, restaurants, and cafes which is rapidly becoming one of the major factors propelling cake enzymes market growth in the global atmosphere. In addition to that, increasing awareness among bakers about cake enzymes is improving the quality of their baked goods and fueling its market growth.
- The surge in the demand for bakery and confectionery and bakery products in the food & beverage industry has led to a rise in per capita income and shifting consumer preferences to ready-to-eat and convenience food is propelling the growth of the cake enzymes market.
- The cake enzymes help to enhance the taste and quality of cake and other bakery products which in return is expected to augment growth in the cake enzyme market across the estimation period. Rapid discovery of pocket-friendly and better-quality enzymes is expected to grow in the future.
- The frozen bakery products are projected to have remarkable growth in the future attributed to the surge in demand for bakery items majorly bread, owing to a busy lifestyle and an increase in preference for fresh & ready-to-eat breakfast food.
- A significant rise in consumption of bakery products, specifically the packaged variety has increased sales in the market. Increased disposable income, rapid urbanization, and rise in the trend of bread & cakes among millennials, and consistently changing buyer inclination drive the demand for cake enzymes from the bakery industry.
Competitive Landscape
The prominent players in the cake enzymes market are focusing on research and development to create better quality and economical enzymes for widespread consumption. The market is considered highly competitive, attributing to the presence of a large number of participants in the market.
Access the full report for detailed market trends.
More Insights into the Cake Enzyme Market
North America is expected to emerge as a lucrative growth opportunity by holding the largest market share in the cake enzyme market with a revenue share worth 31.1% in 2022. North America is projected to dominate the global market owing to the highest consumption of baked goods in the North American region, especially the United States.
According to the FMI analysis, the European region is right next to North America in terms of the largest revenue share. It is expected to reach 28.6% of the global market share in 2022 attributing to the larger production and consumption trend observed in the region.
Asia Pacific region is expected to exhibit remarkable growth in the cake enzymes market by contributing to a significant share of 25.4% in 2022. A significant rise in population in major economies of APAC, such as India and China are expected to auger growth in the market.
The Middle East and Africa are yet another impressive regions to showcase opulent growth opportunities for the cake enzyme market which is expected to reach a share of 12.8% in 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube