The Sourdough Market Is Estimated To Witness High Growth Owing To Increasing Demand for Bakery Products
The sourdough market is estimated to be valued at US$ 3.5 Bn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Sourdough is a type of bread leavened naturally with lactic acid bacteria and yeast. It does not require added commercial yeast for leavening the dough. It is used to produce various bakery products such as breads, pizzas, pancakes, waffles, and others. It offers several health benefits due to presence of beneficial bacteria making it a preferred choice of consumers.
Market Dynamics:
The growth of the sourdough market is attributed to increasing demand for bakery products and rising health consciousness among consumers. According to International Food Information Council Foundation's 2022 Food & Health Survey, 61% of U.S. adults try to avoid grains containing gluten due to health issues. Sourdough bread is preferred choice for such consumers as it contains less gluten when compared to commercial breads. Furthermore, growing preference for natural and minimally processed foods without artificial ingredients and preservatives is also driving the demand for sourdough globally.
SWOT Analysis
Strength:
Sourdough bread has a unique sour taste which attracts health-conscious consumers.
Sourdough fermentation process increases shelf-life and nutrition content of the bread.
Well established local bakeries making artisanal sourdough bread boost the market growth.
Weakness:
Production of sourdough bread is time consuming and labor intensive process.
Sourdough starters needs continuous maintenance which increases production challenges.
Opportunity:
Rising popularity of gluten-free and organic breads presents an opportunity for sourdough bread makers.
Growth of foodservice industry and increasing number of bakery cafes and restaurants augments the market expansion.
Threats:
Availability of substitutes like white bread, whole wheat bread limits the market growth of sourdough bread.
Changes in consumer tastes and preferences pose a threat to the traditional sourdough bread market.
Key Takeaways
The global Sourdough Market Share is expected to witness high growth, exhibiting CAGR of 9.0% over the forecast period, due to increasing demand for gluten-free and organic bakery products. The sourdough fermentation process makes bread gluten-free and high in prebiotic fiber.
Regional analysis related content comprises: The North American region dominates the sourdough market with over 30% market share in 2023 due to increasing health awareness among consumers and rising bakery industry in countries like US. Europe is the second largest market for sourdough breads due to strong presence of artisanal bakeries in countries like Italy, France, and Germany.
Key players related content: Key players operating in the sourdough market are Puratos Group, IREKS Group, Lallemand Inc., Lesaffre International Corporation, and Philibert Savours SAS. Puratos Group and IREKS Group are focused on expanding their geographical presence in developing regions through partnerships with local bakeries.
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https://www.trendingwebwire.com/sourdough-market/
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