USD 15.36 Billion
Bakery Ingredients Market Size, Share, Growth Analysis, By Product(Emulsifier, Enzymes, Baking powder & mixes, Oils fats and shortenings), By Application(Bread, Cookies and Biscuits, Sweet Bakery (Cake, Pastry), By Form(Dry, Liquid), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30C2092 |
Region:
Global |
Published Date: September, 2024
Pages:
198
|Tables:
72
|Figures:
75
Bakery Ingredients Market Insights
Global Bakery Ingredients Market size was valued at USD 14.40 Billion in 2022 and is poised to grow from USD 15.36 Billion in 2023 to USD 25.77 Billion by 2031, at a CAGR of 6.68% during the forecast period (2024-2031).
The global market for bakery ingredients is projected to experience significant growth, driven by the increasing urbanization and a rising consumption of convenient, ready-to-eat foods. Moreover, there is a growing preference for bakery products that promote health and well-being, contributing to the expansion of the market. Bakery ingredients play a crucial role in the production of various bakery items, including bread, cookies, biscuits, cakes, pizzas, tarts, pies, pastries, donuts, and frozen baked goods. These ingredients have been utilized since ancient times and remain essential components in modern baking processes. The bakery ingredients industry is primarily propelled by several factors, such as shifting consumer preferences towards healthier products, rising wealth and disposable income, increased spending on value-added goods, and the growing availability of products incorporating natural ingredients. High-quality bakery ingredients are fundamental for enhancing the overall quality, texture, and taste of baked goods, as they ensure softness and flavor retention. For instance, yeast is a critical ingredient in bread-making, where the trapped gas is necessary for optimal results. The wide variety of bakery ingredients available cater to regional demands and preferences. The advantages of bakery ingredients lie in their ease of use, mixing convenience, and ready availability. The food processing industry has unlocked numerous possibilities for innovative product development in the bakery ingredients market. Dietary fiber, for example, is now commonly added to stabilize high-fat food, improve emulsion and shelf life, and enhance water and oil retention properties. Antioxidants are used in minimal quantities to preserve the freshness, aroma, flavor, and appearance of baked goods. The Bakery Ingredients Market is categorized into various types, including emulsifiers, leavening agents, enzymes, baking powder & mixes, oils, fats & shortenings, starch, colors & flavors, and others. The market is also segmented based on applications, such as bread, biscuits & cookies, cakes & pastries, rolls & pies, and others. Geographically, the market is divided into North America, Europe, Asia-Pacific, and the rest of the world (RoW). The growth of the global bakery ingredients market can be attributed to the increasing demand for these ingredients driven by changing lifestyles, which leave little time for meal preparation and require time-saving and affordable food options. The rising population of working women and time constraints further amplify the need for convenient baked goods. In Europe and North America, busy lifestyles have led to a preference for wraps, rolls, and pocket sandwiches over time-consuming meals, bolstering the demand for bakery ingredients. Additionally, advancements in packaging materials and a wider range of baked food offerings contribute to the market's growth. While staple food consumption patterns are unlikely to change significantly in any culture, the key markets in the U.S. and Europe are expected to remain robust. However, there is considerable growth potential in the Asia-Pacific region, where the food culture is gradually evolving. Factors such as changing lifestyles, improved distribution channels, and advancements in science and technology are driving the expansion of the bakery ingredients industry.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Flour
Fastest Growth
Sweetners
Growth Rate
6.68% CAGR
Global Bakery Ingredients Market ($ Bn)
Country Share for North America Region (%)
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Bakery Ingredients Market Segmental Analysis
The Global Bakery Ingredients Market is segmented by type, application, form and region. Based on type, the market can be segmented into Emulsifiers, Leavening Agents, Enzymes, Baking powder and Mixes, oils fats and shortenings, Colours and Flavours, Fiber, Starch, Preservatives and Other types. Based on application, the market is segmented into Bread, Cookies and Biscuits, Sweet Bakery, Other Applications. Based on form, the market is segmented into Dry and Liquid. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
By type, the market can be segmented into flour, sweetners, emulsifiers, and yeast. Flour is a fundamental ingredient in bakery products, making it a dominant segment in the market. It serves as the primary source of structure and texture in bread, cakes, pastries, and other baked goods. Wheat flour, in particular, holds a significant market share due to its widespread use and versatility in various bakery applications. Fastest Growing: Alternative flours such as gluten-free flours (e.g., rice flour, almond flour, coconut flour) and ancient grain flours (e.g., spelt flour, quinoa flour) are experiencing rapid growth. These flours cater to the increasing demand for gluten-free and healthier bakery products, driven by consumer preferences for dietary restrictions, wellness, and diverse flavour profiles.
Natural sweeteners like honey, maple syrup, and agave syrup are witnessing rapid growth due to the rising consumer demand for natural and less processed alternatives to traditional sugars. Additionally, low-calorie sweeteners and sugar substitutes, such as stevia and erythritol, are gaining popularity among health-conscious consumers.
Analysis by Application
By application, the market can be segmented into bread, cakes and pestries, and cookies & biscuits. Bread is a staple bakery product consumed worldwide, making it a dominant segment in the market. It includes various types such as white bread, whole wheat bread, multigrain bread, and specialty bread like baguettes and ciabatta. The demand for bread is driven by its widespread consumption as a daily food item and its versatility for sandwiches, toasts, and accompaniments.
While sweet bakery options are witnessing fastest growth. This includes low-sugar or sugar-free cakes, gluten-free pastries, vegan cakes, and those made with alternative flours. The demand for these products is driven by health-conscious consumers, dietary restrictions, and the growing trend of clean-label and plant-based bakery items.
Global Bakery Ingredients Market By Type
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Bakery Ingredients Market Regional Insights
North American region dominated the bakery ingredients market. The well-established bakery industry, high disposable income, and changing consumer preferences are key drivers of market growth. North America is known for its diverse range of bakery products, including bread, cakes, cookies, and pastries, which fuels the demand for bakery ingredients. The United States is the leading market for bakery ingredients in North America, primarily driven by a growing population of health-conscious consumers seeking natural and organic bakery products. Rising concerns about the consumption of artificial additives and preservatives have led to an increased demand for clean label bakery ingredients. The use of specialty ingredients such as enzymes, emulsifiers, and natural flavors is gaining traction in the region.
The Asia-Pacific region is witnessing rapid growth in the bakery ingredients market, making it one of the fastest-growing regions globally. Factors such as changing consumer lifestyles, urbanization, rising disposable incomes, and a growing middle class are driving the demand for bakery products and ingredients in this region. China is the dominant market for bakery ingredients in APAC. The country's large population, increasing urbanization, and changing dietary preferences contribute to the growth of the bakery industry. Traditional bakery products, such as steamed buns and mooncakes, coexist with Western-style pastries and bread. The demand for convenience foods and ready-to-eat bakery products is also on the rise, leading to increased consumption of bakery ingredients.
Global Bakery Ingredients Market By Region
- Largest
- Fastest
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Bakery Ingredients Market Dynamics
Bakery Ingredients Market Drivers
Increasing consumer preference for healthier products
- One significant driver of the bakery ingredients market is the increasing consumer preference for healthier products. With growing awareness about the importance of nutrition and well-being, consumers are actively seeking bakery products made with natural and functional ingredients. This shift in consumer demand has led to the development and incorporation of specialty ingredients, such as whole grains, natural sweeteners, and plant-based alternatives, in bakery formulations. Manufacturers are responding to this driver by offering a wide range of healthier bakery options to cater to the evolving consumer preferences.
Bakery Ingredients Market Restraints
Fluctuating prices of raw materials
- One prominent restraint in the bakery ingredients market is the fluctuating prices of raw materials. The prices of key ingredients such as wheat, sugar, dairy products, and oils can be volatile due to factors like weather conditions, supply-demand imbalances, and geopolitical factors. These price fluctuations pose challenges for bakery ingredient manufacturers in terms of cost management and profit margins. To mitigate this restraint, companies often employ strategies such as long-term supply contracts, hedging techniques, and alternative ingredient sourcing to minimize the impact of raw material price volatility.
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Bakery Ingredients Market Competitive Landscape
The bakery ingredients market is characterized by intense competition among various players. Key market participants focus on product innovation, research and development, and strategic partnerships to gain a competitive edge. Companies strive to offer a diverse range of bakery ingredients with improved functionalities and nutritional profiles. Additionally, marketing and promotional activities play a vital role in brand positioning and customer engagement. Market players also invest in expanding their distribution networks to enhance their market reach and cater to the evolving demands of the bakery industry.
Bakery Ingredients Market Top Player’s Company Profiles
- Cargill (US)
- Archer Daniels Midland Company (US)
- Ingredion Incorporated (US)
- Kerry Group plc (Ireland)
- DuPont Nutrition & Biosciences (US)
- Associated British Foods plc (UK)
- Corbion N.V. (Netherlands)
- Tate & Lyle PLC (UK)
- Lallemand Inc. (Canada)
- Royal DSM N.V. (Netherlands)
- Bakels Group (Switzerland)
- Lesaffre Group (France)
- AAK AB (Sweden)
- Puratos Group (Belgium)
- Dawn Foods Ltd. (US)
- Palsgaard A/S (Denmark)
- Taura Natural Ingredients Ltd. (New Zealand)
- Zeelandia International B.V. (Netherlands)
- AB Mauri (UK)
- Givaudan SA (Switzerland)
Bakery Ingredients Market Recent Developments
- In May 2024, Vegan Baking Ingredient Market Is Predicted to Reach US$ 3.6 Billion By 2033: Fact.MR Report
- In May 2024, Bakery Premixes Market Beyond the Forecast Unlocking Growth through Future Market Size.
- In April 2024, Commodity ingredient price jitters bubbling over early in 2024.
- In June 2023, European bakery ingredient manufacturer IREKS announced a €100 million investment to expand its production facilities and enhance its R&D capabilities.
- In May 2023, Beyond Meat announced a partnership with a leading bakery chain to launch plant-based burger buns made with its innovative meat substitute.
- In April 2023, PepsiCo-owned Quaker Oats launched a new range of "Protein Baked Goods," including protein bars and cookies, targeting health-conscious consumers.
- In February 2023, bakery ingredients supplier Lesaffre completed the acquisition of bakery premixes and mixes manufacturer Delavau Food Partners, broadening its product offerings.
- In January 2023, alternative protein startup Nature's Fynd raised $350 million in a Series C funding round to expand its production of microbial protein ingredients, including those suitable for bakery applications.
Bakery Ingredients Key Market Trends
- One key market trend in the bakery ingredients market is the increasing demand for clean label and natural ingredients. Consumers are becoming more conscious about the ingredients used in their food products and are seeking bakery items made with recognizable, natural, and minimally processed ingredients. This trend is driving manufacturers to reformulate their products and replace artificial additives, preservatives, and high-fructose corn syrup with cleaner alternatives. The use of natural colors, flavors, and sweeteners, as well as the incorporation of whole grains and plant-based ingredients, aligns with the growing consumer preference for healthier and more transparent bakery options.
Bakery Ingredients Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global bakery ingredients market is experiencing significant growth driven by factors such as urbanization, increasing consumption of ready-to-eat foods, and a shift towards health-oriented bakery products. Bakery ingredients play a crucial role in enhancing product quality and longevity. The industry is witnessing a rise in demand for natural and clean label ingredients as consumers prioritize healthier choices. North America dominates the market due to a well-established bakery industry and changing consumer preferences. Meanwhile, the Asia-Pacific region is emerging as the fastest-growing market, fueled by urbanization, rising disposable incomes, and evolving dietary habits. However, the volatility of raw material prices poses a challenge to market players. To stay competitive, companies focus on innovation, strategic partnerships, and expanding their distribution networks.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 14.40 Billion |
| Market size value in 2031 | USD 25.77 Billion |
| Growth Rate | 6.68% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Bakery Ingredients Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Bakery Ingredients Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Bakery Ingredients Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Bakery Ingredients Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bakery Ingredients Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Bakery Ingredients Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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