USD 16.6 billion
Baking Ingredients Market Size, Share, Growth Analysis, By Type(Emulsifiers, Enzymes, Starch, Fiber), By Applications(Bread, Sweet bakery), By Form(Dry, Liquid), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30C2040 |
Region:
Global |
Published Date: July, 2036
Pages:
157
|Tables:
98
|Figures:
76
Baking Ingredients Market Insights
Global Baking Ingredients Market size was valued at USD 15.86 billion in 2022 and is poised to grow from USD 16.88 billion in 2023 to USD 27.73 billion by 2031, growing at a CAGR of 6.4% in the forecast period (2024-2031).
The primary ingredients responsible for the look, texture, and flavour of most bakery items are flour, water, and leavening agents. Oils, eggs, emulsifiers, colours, shortening, and sugar are effective at changing these characteristics and producing a high-quality product. Baking materials such as baking soda, baking powder, cocoa powder, and other condiments have seen an increase in demand as consumers left at home due to the Covid-19 shutdown have turned to baking. Baking ingredient manufacturers and retailers have reported a considerable boost in sales since the lockout when compared to the same period last year. On-the-go cuisine has grown in popularity as a result of the recent inflow of multinational café and bakery companies. During the projection period, growth in the frozen bakery goods market will drive up demand for baking ingredients. Factors such as convenience, quickness of preparation, easy product availability, and inexpensive costs have contributed to the increased acceptance of frozen bakery. The baking ingredients market is also expanding due to increased demand from coffee shops and local and large-scale food chains. Frozen bakery items are predicted to acquire potential demand in emerging markets such as India and China due to rising disposable income and purchasing power parity (PPP) of these nations' growing populations.
US Baking Ingredients Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Dry
Fastest Growth
Dry
Growth Rate
6% CAGR
Global Baking Ingredients Market 2022-2028 ($ Bn)
Country Share for Europe Region- 2021 (%)
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Baking Ingredients Market Segmental Analysis
Global baking ingredients market is segmented based on product type, application, form, and region. Based on product type, the market is segmented into emulsifiers, enzymes, starch, fiber, oils, fats, shortenings, baking powder and mixes, preservatives, colors & flavours, leavening agents, others. Based on application, the market is segmented into bread, sweet bakery. Based on form, the market is segmented into dry, liquid. Based on region, global baking ingredients Baking Ingredients Market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa.
Baking Ingredients Market Analysis by Form:
Based on form, dry ingredients have the highest proportion of the baking ingredients market. Due to the nature of several dry ingredients, dry ingredients are measured incorrectly. To accurately measure dry ingredients, use a set of measuring cups designed specifically for dry ingredients. There are distinctions between dry and liquid measuring cups. Dry measuring cups are designed to be completely filled with a dry ingredient (flour) and then levelled. Liquid measuring cups are often designed with a pouring spout and graded (with volume markers) for easy and exact liquid measurement. The improved quality of supermarket and commercial bakery products, as well as the presence of various artisan bakeries in Asian countries, has resulted in an increasing demand for both wet & dry baking ingredients.
Global Baking Ingredients Market By Form, 2021 (%)
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Baking Ingredients Market Regional Insights
Based on region global baking ingredients market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. During the projected period, the European market is expected to expand the most in terms of revenue. Increasing demand for emulsifier ingredients due to the growing popularity of premium bakery products such as low-fat, low-calorie, sugar-free, mineral and vitamin-fortified breads and cakes. For example, in September 2018, Warburtons, the UK's largest bakery brand, introduced new sourdough toasties with pockets, half loaf, white bread, and wholemeal flavours for its customers in the UK. Furthermore, the bakery ingredients market in Europe is predicted to increase due to the well-established bakery products industry, strong distribution channel, and extensive range of products, as well as increasing inclination for bakery products during festivals and special occasions. In terms of revenue, the North American market accounted for a sizable portion of the global market. Changing lifestyle habits, combined with increased customer desire for fast foods and other bakery food products, particularly among younger sections of society, drive up demand for bakery ingredients in households, restaurants, and other fast-food suppliers and outlets. These are some of the primary drivers projected to fuel significant growth in the North American baking ingredients industry. Furthermore, increased demand for high protein bakery products with low fat and no trans fats is likely to drive growth in the North America bakery ingredients market over the forecast period.
Global Baking Ingredients Market By Geography, 2022-2028
- Largest
- Fastest
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Baking Ingredients Market Dynamics
Baking Ingredients Market Drivers
Global Increase in Bakery and Confectionery Consumption
- For a long time, bakery products have served as basic food items for human nourishment. Confectionery and bakery items are in high demand due to expanding convenience food demand and consumer desire for appealing, flavorful, and textural treats. The key reasons influencing their sustenance in the present baking ingredients market are their easy accessibility, lower price, and nutrition. As a result, bakery products have become a vital part of many people's life. This has increased demand for diverse baking ingredients, which are utilised to create bread products that are rich in flavour and texture.
Baking Ingredients Market Restraint
International Quality Standards and Stringent Requirements
- Baking ingredients are a blend of numerous substances that are submitted to stringent health and safety assessments depending on legislative laws in various nations. Regulatory organisations have done numerous studies to analyse the influence of these items on human health. Products are categorised and the daily intake allowance (DIA) is calculated based on their findings. Food safety regulations are overseen by international organisations such as the National Food Safety and Quality Service (SENASA), the Canadian Food Inspection Agency, the United States Food and Drug Administration (FDA), the World Health Organization, and the Committee on the Environment, Public Health, and Food Safety (EU). These organisations have direct or indirect control on the use of various chemicals and materials used in food processing.
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Baking Ingredients Market Competitive Landscape
The baking ingredients market is characterised by the presence of well-established players as well as several small and medium-sized players. These manufacturers are pursuing a variety of strategies, including new product launches, product portfolio expansion, and mergers and acquisitions. Several large firms are forming multiple strategic alliances in order to increase their market share and get a competitive edge.
Top Players in the Global Baking Ingredients Market
- Cargill, Incorporated
- Archer Daniels Midland Company (ADM)
- Kerry Group plc
- Associated British Foods Plc (ABF)
- Koninklijke DSM N.V.
- Ingredion Incorporated
- Corbion N.V.
- Tate & Lyle plc
- Lallemand Inc.
- Lesaffre Group
- DuPont de Nemours, Inc.
- Arla Foods amba
- Puratos Group NV
- Dawn Food Products Inc.
- AAK AB (publ)
- British Bakels
- Taura Natural Ingredients Limited
- J&K Ingredients Corporation
- Barry Callebaut AG
- Callebaut & Co. NV
Baking Ingredients Market Recent Developments
In November 2019, BakeZyme Fresh XL and BakeZyme Master are two new solutions from Koninklijke DSM N.V. (Netherlands). These new maltogenic amylase solutions, developed to address freshness difficulties faced by bakers globally, will enable the manufacture of high-quality baked items.
In November 2020, Kerry Group Plc (Ireland) announced the acquisition of Bio-K Plus International, a Canadian company, through its Taste & Nutrition division (Canada). Kerry's probiotics portfolio would be expanded as a result of this acquisition.
In January 2020, Vegan baking ingredients have been introduced by British Bakels (UK). As veganism accelerates through 2020, customer demand for high-quality vegan bakery products is projected to skyrocket. As a result, Bakels has added vegan-friendly rich fillings to their vegan offering.
Baking Ingredients Key Market Trends
Veganism and Vegetarianism Trend Gaining Traction
- When making purchasing selections, consumers are becoming more conscious of concerns such as health, sustainability, and social impact. Environmental issues have been suggested as a result of the consumption of animal-based meals. Furthermore, some people object ethically to the use of animals in food items. Consumers are encouraged to become vegans or vegetarians for reasons such as animal welfare, the environment, and personal health. According to the Good Food Institute, plant-based food retail sales in the United States have climbed by 17%, totalling over USD 3 billion. Plant-based milk and plant-based meat are the most popular plant-based foods. The need for vegan baking ingredients may rise as the market for plant-based bakery products such as vegan cake, muffins, bread, and buns expands.
Baking 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 utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global baking ingredients market analysis, the Asia Pacific region is predicted to grow at the quickest rate. The tides of the global baking ingredients market are changing as the North American and European markets age and new global regions with enormous growth prospects emerge. By application, bread has the highest proportion of the baking ingredients market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 15.86 billion |
| Market size value in 2031 | USD 27.73 billion |
| Growth Rate | 6.4% |
| 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 Baking 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 Baking 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 Baking 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 Baking 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 Baking Ingredients Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Baking 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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