PROBLEM TO BE SOLVED: To provide a water-in-oil type emulsion having plasticity with a milk fat content reduced to a predetermined amount or lower, having rich milk flavor and rich taste, and a bakery product having rich milk flavor and rich taste.SOLUTION: A water-in-oil type emulsion having plasticity with a milk fat content less than 50 mass% in oil is used, satisfying the following conditions (a) and (b): (a) Containing a material having a lactic fermentation flavor in an amount of 0.05 to 5 mass% (relative to emulsion) and (b) Containing free amino acid in an amount of 0.01 to 2 mass% (relative to emulsion).COPYRIGHT: (C)2014,JPO&INPIT【課題】乳脂含量を一定量以下に抑えながらも豊かな乳風味やコク味を感じられる可塑性油中水型乳化物、さらには豊かな乳風味やコク味が感じられるベーカリー製品を提供すること。【解決手段】下記(a)及び(b)の条件を満たし、油分中の乳脂含量が50質量%未満の可塑性油中水型乳化物を使用する。(a)乳酸発酵風味素材を0.05~5質量%[乳化物基準]含有する。(b)遊離アミノ酸を0.01~2質量%[乳化物基準]含有する。【選択図】なし