The Global Baking Ingredients Market was valued at USD XX billion in 2020 and is expected to grow at CAGR of XX% over the forecast period.
Baking ingredients are an essential part of the bakery ingredients market. Baking powder and mixes, starch, oils, fats and shortenings, enzymes, and emulsifiers are the most widely used baking ingredients. Bakery products are used to improve the overall product quality, save time, and for longevity. A good quality ingredient must be used while baking to retain its softness and taste. Bakery ingredients have many advantages like easy-to-use, easy-to-mix, and easy availability.
The growing concern among people for healthy dietary supplements and the increasing consumer’s preference for bakery products is expected to increase the baking ingredients’ demand. The key drivers for the market’s growth are the changing consumer lifestyles, demand for gluten-free foods, preference for convenience foods. The increasing population of working women and time constraint has initiated the need for bakery ingredients. Growing consumer demand for nutritional content in baked foods with low sugar, whole grain, and zero trans-fat per serving are expected to increase the demand for bakery food.
Growing health concerns owing to the high consumption of trans fatty acids can hinder the baking ingredients market during the forecast period. Increasing consumer awareness towards health has further supported the growth of cereals substitutes, which is considered a healthier alternative and is expected to pose a challenge for the baking ingredients market over the forecast period. A trend is observed in the market in the demand for organic baking ingredients, which is expected to gain higher traction. The growing trend can be attributed to the rise in health-conscious population and increasing awareness about organic baking ingredients’ benefits such as sweeteners, natural flavors, and oil.
Market Segmentation
The global baking ingredients market is segmented based on product type, application, and region.
Global Baking Ingredients Market, by Type
Based on type, the market is segmented into are emulsifiers, leavening agents, enzymes, baking powders and mixes, oil, fats and shortenings, starch, colors, and flavors. The baking powder and mixes segment holds the largest market share. It is a source of vitamins, proteins, and carbohydrates consumed globally as a primary ingredient in bakery products. Wheat baking powder is gaining traction owing to rising awareness among consumers for organic products. The enzymes segment is expected to observe the fastest growth during the forecast period.
Global Baking Ingredients Market, by Application
Based on application, the market has been segmented into bread, biscuits and cookies, cakes and pastries, and rolls and pies. The biscuits and cookies segment is expected to be the fastest-growing application of baking ingredients, accounting for over one-fourth share of the market. Consumer demand for buns and pizzas is increasing considerably owing to rising cases of diabetes which has shifted the focus away from sugar-based products.
Global Baking Ingredients Market, by Region
Europe holds the highest market share in the global baking ingredients market. The factors driving the regional market growth include high population, increasing demand for baked goods, technological advancements in baked goods production to meet changing consumer demands. North America is the second-largest market. Asia-Pacific is projected to observe the highest growth during the forecast period owing to the growing demand for leavening agents, emulsifiers, and fats and shortenings in major baking applications, such as bread and biscuits, and cookies.
Competitive Analysis
The global baking ingredients market is highly fragmented and the major players have used various strategies, such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Darling Ingredients Inc., Omega Protein Corporation, DowDuPont Inc., Kemin Industries, Inc., InVivo, John Pointon and Sons Ltd. are some key players in this market.
Key Developments in the baking ingredients market
- In March 2019, Corbion entered into an agreement to acquire Granotec do Brazil, a manufacturer of functional blends for the Brazilian bakery industry
- In Sept 2019, Orkla Food Ingredients, through its wholly-owned subsidiary Sonneveld Group acquired Dutch company Vamo produkten voor de Bakkerij
What Does this Report Provide?
A detailed understanding of the global baking ingredients market from qualitative and quantitative perspectives during the forecast period. The report also provides the potential impact dynamic indicators on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.
Market Segmentation
By Type
- Emulsifiers
- Leavening Agents
- Enzymes
- Baking Powders and Mixes
- Oil
- Fats and Shortenings
- Starch
- Colors and Flavors
By Application
- Bread
- Biscuits and Cookies
- Cakes and Pastries
- Rolls and Pies
By Region
North America
- North America, by country
- The U.S.
- Canada
- Mexico
- North America, by type
- North America, by application
Europe
- Europe, by country
- Germany
- The U.K.
- France
- Italy
- Spain
- The Netherlands
- Rest of Europe
- Europe, by type
- Europe, by application
Asia-Pacific
- Asia-Pacific, by Country
- China
- India
- Japan
- South Korea
- Australia
- Indonesia
- The Rest of Asia-Pacific
- Asia-Pacific, by Type
- Asia-Pacific, by Application
Middle East and Africa
- Middle East and Africa, by Country
- The UAE
- Saudi Arabia
- Qatar
- Turkey
- South Africa
- The Rest of Middle East and Africa
- Middle East and Africa, by Type
- Middle East, by Application
South America
- South America, by Country
- Brazil
- Argentina
- The Rest of South America
- South America, by Type
- South America, by Application
Reasons to Buy This Report:
- Market size estimation of the baking ingredients market on a regional and global basis
- Unique research usage for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
Customization:
We provide customization of the study to meet specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
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