Report Description Report Description and Highlights

Global Bakery Fats Market Trends :

The rapid expansion in the food and beverage (F&B) sector and the increasing consumption of baked and confectionery products, owing to their various health benefits and nutritional profile, are some of the factors primarily driving the market growth. This can be further attributed to the rising need for ready-to-eat (RTE), convenient food products due to evolving consumer preferences, changing dietary patterns, and hectic lifestyles. In line with this, the continuous establishment of bakeries, quick-service restaurants (QSRs), and confectionery shops are further supplementing product demand. Additionally, manufacturers are introducing innovative product variants with enhanced quality to formulate premium baked goods, which, in turn, is contributing to the market growth. Moreover, significant technological advancements, such as the extensive utilization of emulsifiers, oil storage systems, and pasteurization units that aid in preparing several bakery fats in batches without affecting product quality, are propelling the market growth. Furthermore, the adoption of online distribution channels by manufacturers to sell bakery fats over brick-and-mortar shopping to expand their reach, especially during the COVID-19 pandemic, is positively stimulating the market growth. Apart from this, the large-scale implementation of aggressive marketing strategies, including celebrity endorsements, and strategic collaborations amongst key players to enhance product efficacy are creating a positive outlook for the market.

Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).