Northrook, IL -- (SBWIRE) -- 10/15/2019 -- The bleaching agents market is estimated at USD 728.6 million in 2018 and is projected to grow at a CAGR of 5.5%, to reach USD 953.8 million by 2023. The bleaching agents market is driven by the rising demand for bread and related bakery products, technological advancements in the flour quality assessment, and the demand for convenience food products, globally.

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The Asia Pacific region is projected to grow at the highest CAGR of 6.5% from 2018 to 2023 in the global bleaching agents market due to its large population base and changes in food consumption patterns; the global market is dominated by Europe. The markets in emerging economies and increasing applications offer opportunities for the growth of the bleaching agents market, as they are mostly used in the production of bakery products to enhance the characteristics of end products. The bleaching process softens the flour, and the bread made by using the bleached flour tends to have enhanced color and softer texture than the bread made with unbleached flour.

The ban on certain bleaching agents such as potassium bromate, potassium iodate, and chlorine is one of the major restraints for the global bleaching agents market.

Based on type, the chlorine dioxide segment is projected to grow at the highest CAGR of 6.9% from 2018 to 2023. Chlorine dioxide is one of the most effective bleaching agents, which provide an instant bleaching effect to bakery products, flour, dough, and processed meat products. It acts as a strong food preservative and a substitute for chlorine, as it ensures there is no reaction with organic substances present in food products for the formation of harmful organohalogen derivatives. It also acts as a strong bread improving agent in the baking industry.

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Based on form, the powder segment is projected to grow at a higher CAGR during the forecast period. Bleaching agents such as benzoyl peroxide, hydrogen peroxide, azodicarbonamide, and nitrogen dioxide in the powdered form have a more whitening effect on flour as compared with liquid form. Additionally, technological advancements have led to increased usage of powdered bleaching agents as the dosing is easier than the liquid form.

Based on application, the bakery products segment is projected to grow at a significant CAGR of 6.8% from 2018 to 2023, making it a key revenue pocket for the bleaching agents industry. Bread, cookies, cakes, and pastries are some of the most-widely consumed bakery products in various countries. North America and Europe are the largest consumers of bread and bread-related products. Due to large-scale consumption of bakery products such as cakes, pastries, and muffins in these regions, the demand for bleaching agents in bakery products is expected to remain the highest during the forecast period.

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