Sourdough Market Growth, Industry Outlook and Overview By 2025
The global sourdough market size is anticipated to touch USD 3.5 billion by 2025. The market is estimated to ascend at a CAGR of 5.7% and is likely to see huge demand for bread over the next few years.
The bread segment held the largest market share and it is expected to continue its dominance over the forecast period. Factors such as nutritional values and the introduction of new flavors in the bread are bolstering the segment growth across the globe with European countries being the major consumers. The growing popularity of artisan bread in countries such as Germany and U.K is estimated to propel the market growth from 2019 to 2025.
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Growing demand for products that are gluten-free is attributing to the market growth. Health benefits are the major factors driving the demand for these products. The sourdough product eliminates the need for chemical and preservatives, thereby, attracts health-conscious consumers.
Rising demand for artisan bakery across the world is positively affecting sourdough market growth. Asian countries such as China, Japan and India are among leading consumers of such products. Factors such as out-of-dining culture and the growing popularity of coffee are aiding to the market growth.
Asia Pacific is estimated to ascend with a significant CAGR over the forecast period. For manufacturers, the region offers a lucrative opportunity as raw materials are readily available in Asia Pacific. Further, changing consumers’ preferences are positively affecting the players operating in the region.
Further key findings from the report suggest:
- Among different types, type III accounted for USD 1.1 billion of revenue in 2018. Further, the segment is projected to maintain its dominance by reclaiming 46.8% of the market share by 2025.
- By application, the pizza segment is anticipated to grow at a CAGR of 6.5% over the forecast duration.
- Europe accounted for 30.4% of the market share in 2018 owing to growing demand in countries such as U.K, Germany, Netherlands and France.
- The market is characterized by high competition among several key players.
COVID-19 Impact Insights
Owing to the closure of food outlets, the demand for various food ingredients including sourdough has dipped significantly. Sourdough is mostly used in the production of cookies, pizza, breads and cakes. Following the imposition of strict lockdown measures, bakery pizza stores were forced to shut down their operations, thereby, adversely affecting the demand for sourdough. Moreover, public places such as malls, stadia and parks remained closed in the most part of the world, which led to considerably low demand for this food ingredient.
Despite the reopening of various places and economic operations, places for public gathering remained close. Further, consumers, out of safety concern, are refraining from visiting these places and dining outside. Take home services have also taken a hit. Therefore, the demand for sourdough will remain meagre unless the situation improves and the virus effects nullify.
Global Sourdough Market: Key Players
Riverside Sourdough, Puratos, Truckee Sourdough Company, Alpha Baking Co. Inc., Morabito Baking Co. Inc., Truckee Sourdough Company, Gold Coast Bakeries and Boudin SF
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