The global bakery ingredients market was estimated to be US$ 15.94 Billion in 2022 and is expected to reach US$ 26.64 Billion by 2032 at a CAGR of 5.3%.
The report titled "Global Bakery Ingredients Market- Growth, Share, Opportunities, and Competitive Analysis, 2023 - 2032" offers strategic visions into the global Bakery Ingredients market along with the market size (Volume - KiloTons and Revenue - US$ Billion)
The said research study covers in-depth analysis of multiple market segments based on type, application, and study across different topographies. The report is also inclusive of competitive profiling of the leading bakery ingredients vendors, and the latest developments. Food ingredients used in the bakery industry are known as bakery ingredients. Some of the profoundly used bakery ingredients include baking powder, butter, baking soda, flour, eggs, fruits, nuts, honey, flavor enhancers, and color additives. The primary function of these ingredients comprise of performing emulsification, protein consolidation and aeration and conserving freshness in baked food. Baked products come in broad varieties, and the intake preferences vary innately to diverse eating habits and awareness from region to region.
The growth of the global bakery ingredients market is largely driven by factors such as an increase in demand for bakery ingredients, and ever-changing lifestyles which leave little to no time to cook meals. In addition, the rising population of working women has prompted the need for ready to eat baked food, thereby replacing the orthodox home-cooked food.
However, high sugar and carb levels in the baked products which lead to health problems may act as the biggest restraining factor for the growth of this market. The diabetic epidemic is a key health issue throughout the world and it has been escalating, especially in middle-income families, who are the chief consumers of bakery products. Additionally, excess sugar intake is linked to metabolic dysfunction, liver damage, and obesity, which are driving the health-conscious users away from baked food items.
Segmentation of Global Bakery Ingredients Market
The global bakery ingredients market is segmented based on application, type and geography. The market for bakery ingredients, on the basis of application, is segmented into cookies & biscuits, cakes & pastries, rolls & pies, bread, and others. On the basis of type, the market is segmented into enzymes, baking powder & mixes, colours & flavours, starch, oils, fats & shortenings, leavening agents, emulsifiers, and others.
Application of bakery ingredients in bread making is estimated to dominate the global market till 2027. However, the cookies & biscuits segment is anticipated to grow at the highest CAGR of 7.0% from 2020 and 2027 due to growing demand from emerging economies.
Based on type, the baking powders & mixes segment leads the global market, followed by oils, & shortenings. However, the enzymes segment is projected to grow at the highest CAGR in terms of value. Ingredients offering similar functionalities are engaging in an intense rivalry due to raw material unavailability and production expenses.
For example, the use of enzymes in baking limits the progress of emulsifiers in baking applications. Based on geography, the global Bakery Ingredients market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Trends of the Global Bakery Ingredients Market
North America comprises the U.S., Canada, and Mexico whereas Europe would primarily cover Germany, France, the UK, Italy, and the Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. In Latin America, Brazil, Argentina, and the Rest of Latin America are the key segments whereas, in the Middle East & Africa, South Africa and the Rest of MEA are the key segments covered in the report.
Europe is the largest market for bakery ingredients followed by North America, due to the high rate of production and intake of baked food items in these regions. The developing markets of Asia-Pacific most importantly India and China, account for the high growth rate due to growing disposable incomes, and the popularity of western food trends among the middle class. Mexico, Japan, Canada, and South Korea are some of the other promising players in this market.
Key players and market strategies:
The bakery ingredients ecosystem includes raw material suppliers, component suppliers, Bakery ingredients machine manufacturers and assemblers, technology providers, service providers, distributors and resellers, and end-users. The Bakery ingredients marketspace comprises major players such as Cargill Inc., Kerry Group, Associated British Foods, DSM, DuPont, Dawn Foods Ltd., Taura Natural Ingredients Limited, Muntons PLC, Corbion N.V., and British Bakels Limited.
The Global Bakery Ingredients Market Is Segmented As Below:
Based On Application
- Cookies & Biscuits
- Cakes & Pastries
- Rolls & Pies
- Bread
- Others
Based On Type
- Enzymes
- Baking Powder & Mixes
- Colours & Flavours
- Starch
- Oils
- Fats & Shortenings
- Leavening Agents
- Emulsifiers
- Others
Based On Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
