NEW YORK, Sept. 27, 2023 /PRNewswire/ -- The "baking ingredients market by product (flour, yeast ingredients, fats and shortening, sweeteners, and others), application (bread, cookies and biscuits, cakes and pastries, and others), and geography (Europe, APAC, North America, Middle East and Africa, and South America) - Forecast and Analysis 2023-2027" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the baking ingredients market from 2022 to 2027 is USD 5.87 billion, according to Technavio. The growing demand for bakery items is the key factor driving the market growth. The consumption patterns and eating habits of consumers have changed significantly in recent years. In the future, emerging economies such as Central and South America and Asia will emerge as major markets for baking ingredients. The popularity of sweet cakes, pastries, and other products is increasing. Moreover, there has also been a rise in the tendency to snack during meals. In urban cities, the working class is demanding more takeout food such as rolls, sandwiches, and croissants. Therefore, increasing urbanization and changing consumer lifestyles will increase the demand for bakery products, which in turn will boost the demand for baking ingredients. Hence, these factors are expected to drive market growth during the forecast period. The consumption patterns and eating habits of consumers have changed significantly in recent years. In the future, emerging economies such as Central and South America and Asia will emerge as major markets for baking ingredients. The popularity of sweet cakes, pastries, and other products is increasing. Moreover, there has also been a rise in the tendency to snack during meals. In urban cities, the working class is demanding more takeout food such as rolls, sandwiches, and croissants. Therefore, increasing urbanization and changing consumer lifestyles will increase the demand for bakery products, which in turn will boost the demand for baking ingredients. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
Market Challenge
The growing health concerns about diabetes and obesity are the significant challenge restricting market growth. Excessive consumption of sugar, for instance, can lead to obesity and diabetes. In order to prevent trans fats, a significant proportion of consumers have discontinued the consumption of bakery products such as bread. Similarly, intolerant consumers do not want to buy artisan bread because it is mainly made from wheat flour, all other types of gluten flour as well as other similar foods which may cause allergic reactions. Additionally, eliminating trans fats from baked goods is a significant challenge for manufacturers of rolls, sweet breads, and other baked goods. Trans fat substitutes affect product characteristics, including flavor, texture, shelf life, and product stability. Hence, these factors are expected to restrict the market growth during the forecast period.
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The baking ingredients market is segmented by product (flour, yeast ingredients, fats and shortening, sweeteners, and others), application (bread, cookies and biscuits, cakes and pastries, and others), and geography (Europe, APAC, North America, Middle East and Africa, and South America).
- The market share growth by the flour segment will be significant during the forecast period. Increasing global consumption of bakery products is one of the major factors that has led to growth in the flour segment. The rise in demand for flour is due to the fact that bread, cakes, pastries, and others have become staples of a multitude of diets and cultures. Furthermore, demand for flour is being driven by the popularity of home-baked products and an expanding baking ingredient industry. The demand for rice flour, soybean flour, and corn flour as baking ingredients is also increasing. Demand for rice flour is growing amid growing consumer awareness of the benefits of gluten-free foods and increasing adoption of healthy lifestyles. Hence, these factors are expected to drive the segment growth during the forecast period.
- Europe is estimated to contribute 34% to the growth of the global market during the forecast period.
View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the Baking Ingredients Market:
AAK AB, AB Mauri Food Inc., AGRANA BEteilgungs AG, Archer Daniels Midland Co., Associated British Foods Plc, Azelis SA, Bakels Worldwide, Bakemark USA LLC, Cargill Inc., Corbion NV, Dawn Food Products Inc., Ingredion Inc., Kerry Group Plc, Koninklijke DSM NV, Lallemand Inc., Lesaffre and Cie, Palsgaard AS, Puratos Group NV, Swiss Bake Ingredients Pvt. Ltd., and Zeelandia Group BV
Related Reports:
The flour market size is estimated to grow at a CAGR of 4.51% between 2022 and 2027. The market size is forecast to increase by USD 40,926.8 million.
The butter market size is estimated to grow at a CAGR of 4.93% between 2022 and 2027. The market size is forecast to increase by USD 11.26 million.
Baking Ingredients Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.21% |
Market growth 2023-2027 |
USD 5.87 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
5.78 |
Regional analysis |
Europe, APAC, North America, Middle East and Africa, and South America |
Performing market contribution |
Europe at 34% |
Key countries |
US, China, Japan, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AAK AB, AB Mauri Food Inc., AGRANA BEteilgungs AG, Archer Daniels Midland Co., Associated British Foods Plc, Azelis SA, Bakels Worldwide, Bakemark USA LLC, Cargill Inc., Corbion NV, Dawn Food Products Inc., Ingredion Inc., Kerry Group Plc, Koninklijke DSM NV, Lallemand Inc., Lesaffre and Cie, Palsgaard AS, Puratos Group NV, Swiss Bake Ingredients Pvt. Ltd., and Zeelandia Group BV |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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