Bleaching Agents Market Explores New Growth Opportunities by 2023

The bleaching agents market is estimated at USD 728.6 Million in 2018 and is projected to reach USD 953.8 Million by 2023, growing at a CAGR of 5.5% during the forecast period. This market is driven by factors such as the increase in the consumption of bread and related bakery products along with advancements in technology for flour evaluation.

Scope of the Report:

On the basis of Type, the market for bleaching agents has been segmented as follows:

  • Azodicarbonamide
  • Hydrogen peroxide
  • Ascorbic acid
  • Acetone peroxide
  • Chlorine dioxide
  • Others (chlorine, benzoyl peroxide, calcium peroxide, and sulfur dioxide)

On the basis of Form, the market for bleaching agents has been segmented as follows:

  • Powder
  • Liquid

On the basis of Application, the market  for bleaching agents has been segmented as follows:

  • Bakery products
  • Flour
  • Cheese
  • Others (sugar, candies, and caramel)

On the basis of Region, the market for bleaching agents has been segmented as follows:

  • North America
  • Europe
  • Asia Pacific
  • RoW (South America and the Middle East & Africa)

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Target Audience:

  • Raw material suppliers
  • Bleaching agent manufacturers
  • Regulatory bodies
  • Intermediary suppliers
  • Flour manufacturers
  • Trade associations and industry bodies
  • Government and research organizations

The flour segment, by application, accounted for the largest share of the market in 2017. Bleaching agents are used for whitening flour, as freshly milled flour has a slightly yellowish color as it contains carotenoids. Additionally, bleaching oxidizes the surface of the flour and promotes its gluten-producing potential. Bleaching of flour helps in the weakening of the proteins and maturation of the flour in a reduced amount of time and has thereby become a necessity for flour producers. Some of the most common flour bleaching agents include hydrogen peroxide, benzoyl peroxide, and chlorine dioxide.

Asia Pacific is projected to be the fastest-growing market for bleaching agents during the forecast period. The major countries with growth potential in this market include China, India, Japan, and Australia. India is estimated to account for a significant share of the Asia Pacific market through 2023. This is an emerging market and hence provides opportunities for the growth of the bleaching agents market.

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