Bakery Ingredients Market Analysis:
Baking ingredients are a vital constituent in the bakery industry. Baking ingredients like baking powders, leavening agents, emulsifiers, and enzymes are widely used in the processing of tarts, pies, rolls, cakes, pastries, bread, and others.
Bakery Ingredients Market Share was valued at $12,960.0 million in 2021, and is projected to reach at $22,592.8 million by 2030, growing at a CAGR of 5.9% from 2022 to 2030., as per the recent Market Research Future (MRFR) analysis.
Various factors are propelling the global bakery ingredients market growth. According to the latest MRFR report, such factors include the booming bakery industry, surging demand for ready-to-eat and convenience bakery products, innovations and technological advances in bakery products, and demand for gluten-free and trans-fat bakery products. Additional factors adding market growth include changing consumer lifestyles, demand for healthy and natural ingredients, demand for gluten-free foods, and consumers increasing awareness about health. Besides, the demand for processed and packaged foods for their long shelf life during the COVID-19 outbreak is also adding market growth.
On the contrary, stringent regulations, implementation of international quality standards, and replacement of baked food with grains such as oats are factors that may limit the global bakery ingredients market growth over the forecast period.
Market Segmentation:
The MRFR report provides an inclusive segmental analysis of the global bakery ingredients market based on application and type.
By type, the global bakery ingredients market is segmented into oil, fats, and shortenings, mixes, colors and flavors, baking powder and mixes, starch, enzymes, emulsifier, and others. Of these, the baking powder and mixes segment will lead the market over the forecast period. Increasing use as an alternative for yeast in the baking industry for its short processing time is propelling the growth of the segment. Meanwhile, the emulsifier and enzymes segment is predicted to grow at a fast pace over the forecast period.
By application, the global bakery ingredients market is segmented into cakes and pastries, rolls and pies, bread, cookies and biscuits, and others. Of these, the bread segment will dominate the market over the forecast period for its cost-effectiveness and easy preparation. Meanwhile, rolls and pies will have substantial growth over the forecast period.
Regional Analysis:
Based on the region, the global bakery ingredients market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), & the Rest of the World (RoW). Of these, North America will lead the market over the forecast period. The immense popularity of on-the-go bakery products such as pocket sandwiches, rolls, and wraps due to hectic work schedules, changing lifestyle patterns, and surging demand for high protein bakery products having no trans fats or has low fat are adding to the global bakery ingredients market growth in the region.
The global bakery ingredients market in Europe is predicted to hold the second-largest share over the forecast period. Burgeoning demand for baked food, large population, use of advanced technology to produce different types of baked foods, and consumers growing need for convenient food, advancements in the food processing industry are adding to the global bakery ingredients market growth in the region. France, Germany, and the UK have a maximum share in the market.
The global bakery ingredients market in the APAC region is predicted to grow at a fast pace over the forecast period. Increasing inclination of customers towards western-style food, increasing disposable income, and large population are adding to the global bakery ingredients market growth in the region. China and India have a maximum share in the market.
The global Bakery Ingredients Market Trends in the RoW is predicted to have sound growth over the forecast period. Product diversification, rapid innovation in the bakery industry, demand for convenience and packaged foods, and increasing health consciousness are adding to the global bakery ingredients market growth in the region.
Key Players:
Eminent players profiled in the global bakery ingredients market report include Associated British Foods PLC (U.K.), Lallemand Inc. (Canada), Cargill Incorporated (U.S.), DuPont Nutrition & Health (Denmark), Archer Daniels Midland Company (U.S.), Tate & Lyle plc (U.K.),and Kerry Group PLC (Ireland).
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