The global sourdough market size is anticipated to touch USD 3.5 billion by 2025, according to a new report by Million Insights. 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 growing popularity of gluten-free products, especially bread, is estimated to propel the demand for the product over the forecast period. Growing intolerance of gluten products is positively attributing to the growth of the market. Technological advancements have further led to the rise in demand for gluten-free products.
Recently, fermented products production has been on the rise. Further, there has been significant growth in craft breweries that focuses on digestive health. Thereby, sourdough is likely to witness considerable growth over the next few years. The consumption of the bread segment is fueled by the growing demand for a stronger flavor. Key market players are offering bread that is similar in terms of flavor to white bread. This trend is projected to continue and add to the sourdough market growth.
Sourdough Market Share Insights
Owing to the presence of a large number of manufacturers, the market is competitive in nature. Major players operating in the market are Riverside Sourdough, Puratos, Truckee Sourdough Company, Alpha Baking Co. Inc., Morabito Baking Co. Inc., Truckee Sourdough Company, Gold Coast Bakeries, and Boudin SF among others.
Product differentiation and new product launch are the key trends in the market. For example, Bread SRSLY manufactures a wide range of sourdough products that are gluten-free including Classic Sourdough and Seeded Sourdough. Other companies are also anticipated to follow similar suits in the near future.
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Applications Insights
Among different applications, bread was the largest shareholder with 61.0% of the market share. Further, the segment is predicted to grow at a significant growth rate to maintain its dominance. As compared to regular bread, sourdough bread has inherently better properties. The presence of lactic acid in sourdough is attributed to its better properties.
On the other hand, in 2018, pizza held the second-largest share in the market. Growing consumers’ demand for new flavors is the prime factor attributing to the growth of this segment. Additionally, growing research and development in the pizza industry and opening of restaurants chain such as Pizza Hut is positively contributing to the growth of the segment. The rise in pizza consumption in Europe is expected to positively contribute to the sourdough market growth.
Regional Insights
In 2018, Europe was the largest shareholder with a 30.4% market share. Further, it is projected to dominate the market from 2019 to 2025. In Europe, Germany is likely to hold the largest share over the forecast duration. Sourdough made up of wheat, rye flours, and spelled is popular among the German population.
Asia Pacific is anticipated to grow at a CAGR of 6.4% over the forecast duration owing to growing demand from countries such as India, China, and Japan. The demand for sourdough products that are free of preservatives and chemical is on the rise in these countries.
Owing to the presence of nutritional wheat products in India, the country is projected to witness significant demand over the next few years. The easy availability of raw materials in Asia Pacific countries is likely to supplement the market growth from 2019 to 2025.
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, bread, 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 most parts 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 gatherings remained close. Further, consumers, out of safety concerns, are refraining from visiting these places and dining outside. Take-home services have also taken a hit. Therefore, the demand for sourdough will remain meager unless the situation improves and the virus effects nullify.
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