Baking Ingredients Market worth $22.3 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, April 16, 2021 /PRNewswire/ -- According to the new market research report "Baking Ingredients Market by Type (Emulsifiers, Leavening Agents, Enzymes, Baking Powders & Mixes, Oil, Fats & Shortenings, Starch, Colors & Flavors, Preservatives, Fibers), Application (Bread and Sweet Bakery), and Region - Forecast to 2026", published by MarketsandMarkets™, the global Baking Ingredients Market is projected to grow from USD 16.6 billion in 2021 to USD 22.3 billion by 2026, at a CAGR of 6.0% from 2021 to 2026. Increase in demand for bakery products has significantly increased the demand for baking ingredients. For high-quality professional baking, bakers need large quantities of a handful of ingredients to create everything from muffins and cupcakes to multi-tiered cakes and delicious cookies. Each baking ingredient plays its special role in the process. The processing, distribution, and storage of bakery products necessitates the use of food additives to maintain the quality and freshness that consumers expect. It is to be noted that the ingredients sometimes play different roles, depending on which baking type they are used. The chemistry of bread baking differs somewhat from baking a cake, although they share several similarities.
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Baking powder and mixes, by type, is estimated to hold the largest market share during the forecast period
The market for baking powder and mixes is projected to account for the largest share by type in the baking ingredients market. Baking mixes constitute various ingredients such as flour, baking powder, baking soda, yeast, sugar, and salt. Moreover, baking mixes are used for various applications such as bread, cakes, waffles, and muffins. With the rising trend of healthy eating, manufacturers focus on innovating clean labels and free-from mixes to capture the market. Gluten-free baking mixes may be prepared using rice flour in place of wheat flour. Dry baking mixes typically require the addition of water or milk, and may also require additional ingredients such as eggs, butter, and cooking oil. Baking mixes are majorly used by consumers at home due to the ease of usage and the high availability of the products. Baking mixes are also gaining acceptance among small and medium-sized food service providers. Dawn Food Products, Inc. (US), Associated British Foods, Inc., Lesaffre (France), Archer Daniels Midland Company (US), and Corbion (Netherlands) produce a wide range of baking mixes. The rising demand for convenience food is supporting the growth of various baking mixes on a global platform.
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222 – Tables
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273 – Pages
Bread, by application, is estimated to hold the largest share in the baking ingredients market during the forecast period
The bread segment is projected to dominate the market by application. Bread is a staple food in most regions. There's a variety of bread available in the market in different forms. The bread products available are categorized under white bread, wholegrain and brown bread, and specialty bread. The growing health-consciousness of consumers and the subsequent increase in demand for wholegrain or specialty bread has resulted in a decline in the demand for white bread in most markets. The flour used in the production of brown bread consists of crude fiber and a whole grain content of about 85.0%. Wholemeal bread is made from whole wheat grain and does not involve refining. This sector also includes wheat germ bread that consists of processed wheat germ. The market for these bread types is expected to grow, owing to the rising health awareness among consumers.
Dry, by form, is estimated to account for the largest market share during the forecast period
The dry baking ingredients market holds the largest market in 2020 and is expected to grow at the highest rate during the forecast period. This growth is attributed to the use of more dry ingredients, such as flour, baking powder, baking soda, yeast, sugar, and salt, in baking than liquid ingredients. Baking mixes have become popular which contain all dry ingredients and can be used for various applications, such as bread, cakes, waffles, muffins, and pizza crusts.
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Europe is estimated to hold the largest market share during the forecast period
Europe holds the largest market for baking ingredients, with an overall 32.4% in the year 2020. According to AIBI bread market report 2012, Europeans on average consumed 58 kgs of bread and bakery products per capita. Bread and bakery products are produced in a number of different ways: by large industrial companies, by traditional smaller-scale bakeries, and by people at home. Furthermore, the region remains one of the important markets for baking ingredient companies due to its size and favorable regulatory environment. The bakery industry is the largest in Europe. The baking ingredients market is growing rapidly due to various factors, such as increased consumption of baked goods, especially as convenient food products, and awareness about natural baking ingredients, such as yeast extracts, enzymes, and fiber. Europe can be considered as a mature market with high uses of yeast across various bakery food applications. The market in the European Union (EU) revolves around bread production.
Key players:
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the baking ingredients market. It consists of the profiles of leading companies such as Cargill (U.S.), Archer Daniels Midland Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V. (The Netherlands), Kerry Group plc (Ireland), and AAK AB (Sweden). Other players include British Bakels (U.K.), Corbion (the Netherlands), IFF (US), and Dawn Food Products, Inc. (U.S.).
Related Reports:
Food Emulsifiers Market by Type (Mono & di-glycerides and their derivatives, Lecithin, Sorbitan esters, Polyglycerol esters, and Stearoyl lactylates), Source, Function, Application, and Region - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/food-emulsifiers-market-972.html
Food Enzymes Market by Type (Carbohydrase, Protease, Lipase), Application (Beverages, Bakery Products, Dairy Products, Confectionery Products, Processed Foods), Formulation (Lyophilized Powder and Liquid), Source, and Region - Global Forecast to 2023
https://www.marketsandmarkets.com/Market-Reports/food-enzymes-market-800.html
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