Baking Ingredients Market Worth $27.2 Billion by 2030
Further, with the increasing urbanization, the demand for convenience food products is increasing rapidly, mainly due to changing lifestyles, the rising number of nuclear families, an increasing proportion of working women, and less time for food preparation. These factors create a strong case for the accelerated growth of convenience and baked goods, which fuels the growth of the baking ingredients market.
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Baking Ingredients Market Worth $27.2 Billion by 2030
Global Baking Ingredients Market 2023-2030 According to this latest publication from Meticulous Research , based on value, the baking ingredients market is projected to reach $27.2 billion by 2030, at a CAGR of 6.4% from 2023 to 2030. The growth of the baking ingredients market is mainly attributed to the growing consumer demand for bakery products, increasing urbanization and changing food consumption patterns, and rising demand for healthy bakery products. However, an increase in health-conscious consumers is expected to hinder the growth of this market to some extent. Furthermore, growing consumer demand for frozen bakery products and emerging functional bakery ingredients are expected to provide significant growth opportunities for manufacturers of baking ingredients in the coming years. The baking ingredients market is segmented by type (emulsifiers, leavening agents, enzymes, baking powders, shortening agents, flavors, colors, starches, fibers, preservatives, sugars, yeast, and other bakery ingredients), form (dry and liquid), application (bread, pies & tarts, croissants, sponge cakes, muffins, cookies & biscuits, doughnuts, waffles, and other bakery products), and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets. Download Free Sample Report Here :https://www.meticulousresearch.com/download-sample- report/cp_id=5422 Based on type, the baking ingredients market is segmented into emulsifiers, leavening agents, enzymes, baking powder, shortening agents, flavors, colors, starches, fibers, preservatives, sugars, yeast, and other bakery ingredients. The enzymes segment is poised to register the fastest growth during the forecast period owing to its increasing usage as a cost-effective alternative to emulsifiers and its benefits, such as reduced mixing time, increased oxidation, and the speed management of fermentation. In addition, enzymes also improve the dough structure & softness and increase the shelf-life of various bakery products. Based on form, the baking ingredients market is segmented into dry and liquid forms. In 2023, the dry baking ingredients segment is expected to account for the largest share of the baking ingredients market. Key factors contributing to the dominant position of this segment are the easy availability, easy handling & storage, and the longer shelf life of the dry-form ingredients. Based on application, the baking ingredients market is segmented into bread, pies & tarts, croissants, sponge cakes, muffins, cookies & biscuits, doughnuts, waffles, and other bakery products. In 2023, the bread segment is expected to account for the largest share of the bakery ingredients market. Key factors contributing to this segment s major share include the rising bread consumption globally, growing demand for fast food, changing lifestyles, and increasing consumer preference for healthy bread products, such as fortified, organic, whole grain, wheat alternative, and gluten-free. In addition, bread is a staple food in many Page 1 of 2 Meticulous Research| sales@meticulousresearch.com
Global Baking Ingredients Market 2023-2030 countries and is experiencing high demand from developing regions, such as Asia-Pacific and the Middle East & Africa. Geographic Review This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, U.K., France, Italy, Spain, and RoE), Asia- Pacific (China, India, Japan, Australia, and RoAPAC), Latin America (Brazil, Mexico, Argentina, and RoLATAM), and the Middle East & Africa. In 2023, Europe is expected to account for the largest share of the baking ingredients market. The large share of this market is mainly attributed to the huge demand for bakery products in this region due to bakery products being their staple food, the region s well-established food industry, rising preference for innovative food products, growing demand for gluten-free bakery products, and the presence of key players. However, the Asia-Pacific region is projected to register the highest CAGR during the forecast period Key Players The baking ingredients market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the baking ingredients market are Cargill, Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Associated British Foods plc (U.K.), Corbion N.V. (Netherlands), Koninklijke DSM N.V. (Netherlands), Lesaffre (France), Kerry Group plc (Ireland), Tate & Lyle PLC (U.K.), and International Flavors & Fragrances Inc. (U.S.). Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous- research Page 2 of 2 Meticulous Research| sales@meticulousresearch.com
