USD 6.42 billion
Report ID:
SQMIG30I2252 |
Region:
Global |
Published Date: March, 2024
Pages:
198
|Tables:
61
|Figures:
75
Leavening Agents Market size was valued at USD 6.64 Billion in 2023 and is poised to grow from USD 6.87 Billion in 2024 to USD 9.06 Billion by 2032, growing at a CAGR of 3.5% during the forecast period (2025-2032).
A leavening agent is a substance or ingredient primarily responsible for the generation, expansion and sealing of gas in batter or dough, making it an important component in baking after flour and water. Yeast, bacteria or baking powder can be used to make dough. They play a vital role in the food industry and offer benefits such as improving the texture of cakes by softening the crumb in the final product. In addition, leavening agents increase the airiness, flexibility and consistency of the dough during preparation and baking. The yeast market is dependent on growth due to several key factors. Growing popularity of baked goods, increasing demand for bread as a healthy food, and major lifestyle and dietary changes in developing countries such as India and China are expected to boost market growth.
The ready-to-eat sector, including frozen baked goods, is occupied by urban consumers with busy lifestyles, higher disposable incomes and the number of working women. The use of leavening agents in various industries, including bakeries, and the growing demand for healthy snacks in the bakery segment are also contributing to the expansion of the market. Acidulants are important in maintaining the texture, structure and fluffiness of baked goods, while they regulate pH, improve flavor and influence the color development of baked goods. These versatile substances are available in physical, chemical and biological forms, and their functions in the food and beverage industry offer ample opportunities for innovation. Consumer preference for baked goods due to convenience, taste and seasonal availability is boosting the market outlook.
US Leavening Agents Market is poised to grow at a sustainable CAGR for the next forecast year
Global Market Size
USD 6.42 billion
Largest Segment
Biological
Fastest Growth
Biological
Growth Rate
3.5% CAGR
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Global Leavening Agents Market is segmented by form, application, and region. Based on form, the market can be segmented into Biological, chemical and others. Based on application, the market is segmented into Food, personal and health care and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Form
The biological form of leavening agents leads the position in the Global Leavening Agents Market. Biological leavening agents widely used in baking for centuries. They offer natural fermentation and produce desirable flavors, textures, and aromas in baked goods. The demand for biological leavening agents is increasing due to the growing consumer preference for natural and organic ingredients, as well as the increasing popularity of artisanal and traditional baking methods. Manufacturers in the market are continuously focusing on developing improved strains of yeast and increasing the performance of biological leavening agents to meet the growing needs of the market.
The chemical form of leavening agents is one of the fastest growing segments in the Global Leavening Agents Market. Chemical leavening agents, such as baking powder and baking soda, provide fast and reliable results in baking applications. They are easy to use and suitable for both professional and home bakers. The fast growth of the chemical segment can be attributed to several factors, including the increasing demand for convenience foods, the increasing number of bakeries and food service establishments, and the ease of incorporating chemical leavening agents into various recipes. Furthermore, developments in chemical leavening technologies, such as double-acting baking powders, are driving this market forward. To capitalize on the rising market potential, manufacturers are capitalizing on research and development to expand the functions of chemical leavening agents, such as improving shelf life and minimizing unfriendly flavors.
Analysis by Application
The food segment contributed to the highest revenue share of around 70% of the global market revenue in 2022 due to its increasing demand for baked food and beverages. The growth of the baked foods market is driving the segment market for food leavening agents. Increasing health awareness and changing lifestyles are major driving factors in the market for food leavening agents.
The personal & health care segment has the fastest growing segment during the forecast period due to increasing demand. Increasing disposable incomes, rising demand for personal & health care products, and adaptation towards healthy lifestyles are other factors driving the segment growth.
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Europe is the dominating region in the global market with over 30% share in 2022 due to high demand in the U.K. and Germany. Also, the increasing purchasing power of the consumers towards bakery products in this region will drive the segment growth. As per a survey conducted by the International Baking Industry Exposition, consumption of bakery products is highest in Europe. Europe's bakery consumption hit USD 165 billion in 2016, as a result of this, the demand for a leavening agent is increasing in this region.
Asia Pacific is expected to grow at a CAGR of 4.4% from 2023 to 2030. This is due to the increasing demand for leavening agents in this region. An increase in disposable income in countries like China, India. And Japan is further driving the segment growth. Furthermore, increasing demand for bakery products due to the high population is also responsible for market growth during the forecast period.
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Drivers
High Demand for Processed Food
Restraints
Stringent regulations on food additives and ingredients
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The competitive landscape of the Global Leavening Agents Market is characterized by intense competition and a diverse range of players. The market is fragmented, with numerous regional and international manufacturers vying for market share. Key players in the market focus on product innovation, research and development activities, and strategic partnerships to gain a competitive edge. They strive to meet the evolving consumer demands for natural and organic ingredients, gluten-free and vegan options, and improved functionalities. Additionally, manufacturers emphasize maintaining high-quality standards, ensuring consistent supply, and enhancing distribution networks to cater to the demands of various end-use industries. Overall, the competitive landscape of the leavening agents market is dynamic, driven by continuous product development, technological advancements, and a focus on meeting consumer preferences.
Top Player’s Company Profiles
Recent Developments
June 2023 Lesaffre, a major participant in the fermentation industry, planned to build a new yeast plant in Brazil in order to increase its footprint there.
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.
According to our Global Leavening Agents Market analysis, the market is a competitive and dynamic industry, driven by factors such as the demand for convenience foods, increasing consumer preferences for natural and clean label ingredients, and the growing bakery and foodservice sectors. Biological leavening agents dominated the market, supported by their extensive usage in various food applications. The food application segment holds the dominant position, driven by the widespread consumption of bakery products and the demand for processed and convenience foods. Additionally, the personal and healthcare application segment is the fastest growing, fueled by the focus on personal hygiene, oral care, and wellness. Europe is the dominant region in the market, benefiting from a strong baking tradition and a high demand for bakery products. The Asia Pacific region is the fastest growing, attributed to rapid economic growth, changing consumer lifestyles, and increasing disposable incomes. The market's competitive landscape features numerous regional and international players who emphasize product innovation, quality standards, and distribution networks to gain a competitive edge. However, stringent regulations on food additives and ingredients pose a challenge to market growth. Overall, the market is characterized by continuous product development, technological advancements, and a focus on meeting consumer preferences for convenience, natural ingredients, and improved functionalities.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 6.42 billion |
Market size value in 2031 | USD 8.75 billion |
Growth Rate | 3.5% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Leavening Agents 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 Leavening Agents 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Leavening Agents Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Leavening Agents Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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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.
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Report ID: SQMIG30I2252
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