Product ID: UCMIG30I2080
Report ID:
UCMIG30I2080 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The food phosphate market had a size of over USD 2.5 billion in 2020 and is expected to grow at a CAGR of over 6% between 2021 and 2027. The increasing usage of food phosphates in the bakery industry for properties such as dough conditioning, yeast stimulation, and leavening is driving the demand for food phosphates. Additionally, food phosphates improve texture, water retention, pH stabilization, and quality, which is leading to their wide usage in baked goods manufacturing and increasing bakery products' palatability. The rising demand for bakery products such as pizzas, cakes, pastries, biscuits, rolls, and doughnuts, along with the availability of various manufacturers across the globe, is propelling the industry outlook. This trend is expected to continue as snacking choices change and people continue to desire baked goods.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Packaged Foods & Meats by segment aggregation, the contribution of the Packaged Foods & Meats in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG30I2080