Global Baking Ingredients Market was valued at US$ 14.44 Bn in 2019, and is expected to reach US$ 19.80 Bn by 2027, at a CAGR of 5.4 % during forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Baking Ingredients baking ingredients market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Baking ingredients market.
Bakery ingredients are food products that help maintain freshness, softness, & taste, improve self-life, and increase the protein content in the baked products. These products are available in different varieties in the market and are considered as the basic food for human nutrition globally. Changing consumer lifestyles, preference for convenience foods, demand for gluten-free foods, and the increasing demand for natural and healthy ingredients are some of the key trends impelling the growth of the baking ingredients market.
Based on the type, the baking powder & mixes segment dominated the market, in terms of value, in 2017. Baking powder and mixes are used in bread, waffles, cakes, muffins, and pizza crusts. The expansion of bakeries and outlets such as in-store bakeries, convenience stores, supermarket & hypermarket bakeries, artisan bakeries, and café bakeries, especially in the emerging countries are expected to be the key market drivers for the baking ingredients market in the coming years.
Based on the application, the bread segment accounted for the largest share of the global baking ingredients market in 2017. Bread founds the major part of daily diets globally. Increased demand for gluten-free foods at a global level, which has, in turn, increased the demand for breads.
A major challenge faced by manufacturers in the baking ingredients market is the threat of additional products. Consumers are constantly changing their eating habits and looking out for low-calorie products. Manufacturers in this market have to compete with granola bar and cereal makers and have to come up with high-fiber additives to be used as ingredients in a variety of baked products, to satisfy consumer demands for increased fiber content in foods.
Geographically, Asia Pacific region is projected to be the fastest-growing market for baking ingredients during the forecast period. The growth of baking ingredients in the region is attributed to the demand for bakery products in the Asia Pacific countries such as India, China, and Australia. China is expected to dominate the region, in terms of value and volume, during the forecast period, due to the adoption of Western diets, especially among the younger population.
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Scope of Baking Ingredients Market:
Global Baking Ingredients Market, By Type
• Leavening Agents
• Baking Powder & Mixes
• Oils, Fats, and Shortenings
• Colors & Flavors
Global Baking Ingredients Market, By Application
• Cookies & Biscuits
• Rolls & Pies
• Cakes & Pastries
• Others (pizza bases, donuts, tortillas, pretzels, scones, and cereals)
Global Baking Ingredients Market, By Region:
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating In Global Baking Ingredients Market
• Associated British Foods PLC
• Koninklijke DSM N.V.
• Kerry Group PLC
• AAK AB
• Tate & Lyle
• Lallemand, Inc.
• Archer Daniels Midland Company
• E. I. Du Pont De Nemours and Company
• Taura Natural Ingredients Limited
• Dawn Food Products, Inc.
• Muntons PLC
• British Bakels
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