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Bakery ingredients are food products that help maintain freshness, softness, & taste; improve shelf life; and increase the protein content in the baked items. These items are available in different varieties in the market and are considered as the basic food for human nutrition globally. The choice of the ingredients and the compositions determine the flavor & texture of the baked food product. In the mature bakery ingredients markets of North America, and Europe, the demand for bakery ingredients exhibiting health benefits and containing lesser or negligible artificial constituents is increasing massively.
The global bakery ingredients market is driven by factors such as busy lifestyles, and change in dietary habits, which in turn result in higher consumption of bakery products. Moreover, change in culture and routines of people in developing nations and growth in demand for low trans-fat & gluten-free products are expected to foster the growth of the bakery ingredients market. The global market for baking ingredients is driven by the rising demand for superior, authentic, and high-quality ingredients that fulfill the consumer’s expectations for fresh, nutritious, and delicious baked commodities. Consumers have shown greater interest in the simplicity and sustainability of bakery products, they are increasingly curious about the quality and origin of the ingredients along with the health-promoting label claims. For Instance:-
Growing Demand for Convenience Foods Are Driving the Demand for Bakery Ingredients.
The rising urbanization and changes in lifestyle designs, characterized by diminished cooking time, have become significant market drivers for the Baking Ingredients Market. To meet the requests of active shoppers, food companies are presenting a different run of prepared items, that serve as helpful breakfast and snack options. Retail bakeries are advertising products with amplified capacity life and cooler capacity conditions, encouraging consumers to make one-time purchases of baked goods. The components driving the consumption of bakery products.
The rising trend of convenience foods. With longer working hours, hectic ways of life, and time scarcity, consumers are picking foods that spare time in procurement, preparation, and cleanup. In created nations like the United States, and the United Kingdom, where bakery chains, cafes, and supermarkets have risen to cater to the request for new and solidified pastry shop merchandise. Indeed, in creating nations like India, the notoriety of home bakeries has developed, demonstrating expanded use of pastry shop fixings. the extension of bakery chains, and cafes, and the developing request for comfort nourishments are driving the request for the Baking Ingredients Market.
Increasing Product Awareness to Bolster the Market Growth of Bakery Ingredients
The global market for bakery ingredients is being driven by the increasing demand for products, such as bread and biscuits. The growing global awareness about the bakery ingredients having health benefits and having lesser or negligible artificial constituents, especially in mature markets such as North America and Europe, is aiding the market growth for bakery ingredients. Busy lifestyles and changing eating habits are further propelling the growth of the bakery ingredients industry.
A shift in culture as well as routines of people in the emerging economies, along with increasing demand for low trans-fat and gluten-free products, are also providing impetus to the growth of the bakery ingredients industry. Moreover, the rapid increase in the incidences of obesity and the rise in fitness concerns are boosting the demand for healthier bakery ingredients. Although the market growth might be hindered due to stringent regulations, and implementation of international quality standards, the potential market for frozen bakery foods, in conjunction with proactive efforts of the major players to lower production costs and extend the shelf life of products, is expected to support the market growth of bakery ingredients.
Frozen Baked Goods to Boost the Market Growth
These have been significant concerns that are attempted to be addressed by the bakery products. Frozen bakery products are more popular with consumers due to their taste, texture, ease of availability, long shelf life, convenience, and health benefits. Opportunities for frozen bakery makers to grow their businesses have been generated by the rising demand for frozen bakery delicacies. To meet the unique requirements of health-conscious consumers, bakers are introducing functional ingredients, including oats, fortified flour, millet, and prebiotics. Frozen bakery items are predicted to have promising growth prospects in fast-growing economies like China, thanks to the rising disposable income and purchasing power parity (PPP) of the nation’s burgeoning population.
Due to the high demand for baked goods, America’s USD 153 billion bakery industry is assisting the market growth for baking ingredients. Convenience foods are a growing dietary trend that is to blame for the soaring demand for sweets and baked goods. Consumers are currently choosing foods that save time in procurement, preparation, and cleanup due to their hectic lifestyles, extended working hours, and lack variety of time. To meet the rising demand for fresh and frozen bakery goods and various baking ingredients, local bakery shops, cafes, and supermarkets have sprouted up in emerging nations like the US and the UK in recent years.
The bakery’s flavor, rich texture, long shelf life, ease of accessibility, low cost, and nutritional value. Therefore, such conditions related to bakery products have recently enhanced the baking ingredients market CAGR across the globe. There have been significant advances in baking innovations to cater to the demand. For instance, there is a growing market for vegan cakes, muffins, and pastries created with plant-based bakery ingredients such as fibers, natural colors, dairy-free milk substitutes, and flavors, increasing baking ingredients market revenue.
Fluctuating Ingredient Prices Hinder the Market Growth
The fluctuation in the prices of ingredients such as flour, sugar. Several factors contribute to the difficulty that manufacturers experience in planning and budgeting effectively due to fluctuating ingredient prices. Which can impact their cost structure, and profit margins adversely.
The government will initiatives to reduce food fat content, including baked goods. These initiatives aim to reduce calorie intake and to eliminate certain fat fractions like trans. And the bakery sector to work toward fat reductions, particularly in dense fats derived from animal, or tropical seed sources. The volatility in ingredient prices, and the need to decrease fat content while maintaining product quality, present market restraints for the Baking Ingredients Market.
The report will cover the qualitative and quantitative data on the global Baking Ingredients Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.
Study Period | 2020-32 |
Base Year | 2023 |
Estimated Forecast Year | 2023-32 |
Growth Rate | CAGR of 6.4% from 2023 to 2032 |
Segmentation | By Product, By Application, By End User, By Region |
Unit | USD Billion |
By Product |
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By End User |
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By Region |
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By Product Outlook
By End-use Channel Outlook
By Region
The report also helps in understanding Global Baking ingredients Market dynamics, structure by analyzing the market segments, and project the Global Baking ingredients Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Baking ingredients Market make the report investor’s guide.
The market scope is segmented based on by Product, by End User, and by region.
By Product
Based on the Product the market is segmented into Emulsifier, Yeast, Enzymes, Baking Powder & Mixes, Oils, Fats & Shortenings, Colors & Flavors, Starch, Preservatives, Others.
The baking powders & mixes segment, led market share in the product segment in 2023, accounting for over 27% of the global revenue. It could be a source of proteins, vitamins, and carbohydrates which are broadly expended as a primary ingredient in bakery products, around the world.
Wheat-based baking powder, which has lower saturated fat and cholesterol content, is picking up popularity, owing to rising shopper, awareness of natural items, the emulsifiers section is expected to develop as the growing heating goods industry necessitates products with a longer rack life, and appeal to consumers. When food acids like tartaric acid, acetic acid, and lactic acid react with hydroxylic groups, they form emulsifiers.
By End User
Based on End User the market is segmented into Bread, Cakes & Pastries, Cookies & Biscuits, Rolls & Pies, Others.
The bread segment dominated the market in 2023. Bread's reasonableness and dietary substance accounted for its steady development. The changing buyer inclinations have made producers contribute to advancement to deliver heated products that will fulfill the shopper's tastes. The manufacturers are developing bread with a balanced dietary, and flavor substance to capture a sizable advertise share.
Baking ingredient consumption within the cakes, and pastries segment is anticipated to develop over the period. Market expansion is attributed to rising snack consumption as well as the accessibility of coolers, for storing frozen, and prepared foods like cookies, food processing companies looking to extend their item portfolio by getting into the treats, and biscuits manufacturing trade are the main drivers of the treats and biscuits segment.
North America held a share of over 25.2% in 2023 and is expected to grow at a CAGR of 6.4% over the forecast period. The on-the-go nourishment way of life in countries like Canada, and the U.S. is anticipated to drive up demand all through the figure period. The comfort and easy-to-carry choices given by bakery manufacturers, such as stash wraps and rolls, among others, are too driving development. Gluten-free nourishment is one of the trends that's winning within the market, and the trend is expected to proceed throughout the projected period. Changing lifestyles have created a demand for alternatives to traditional home food, driving the request for prepared and packaged foods.
The increasing working populace is trying to find nourishment that expends less time than conventional food. In expansion, recognitions connected to health, and well-being are driving customers to decide on a healthy diet. The proceeding transformation within the food-processing industry is resulting in the development of unused bundled foods to meet the growing demand for convenience foods from North American consumers. The Asia Pacific segment is expected to grow at the fastest rate over the figure period. China, and India are the foremost populous countries in the world, with their populace anticipated to develop assist. Many businesses tend to boost their generation volume and utilize modern generation strategies to create high-quality products because the urban populace within the Asia Pacific region is progressively moving toward Western foods.
Production of high-quality items gives opportunities for baking ingredients manufacturers to supply emulsifiers, enzymes, baking powders, oils, and fats. This is often anticipated to extend the request for heating fixings within the estimate period. For instance, The Indian baking ingredients market is the favored goal for a pioneer within the plant-based beverage industry. Life Health Foods (India) Pvt. Ltd. introduced its new vegan beverage, So Good Oat Unsweetened beverage, a plant-based drain free of dairy. The brand-new, tasty So Good Oat beverage lives up to its claim of being a nutritious and adaptable beverage fabricated right here in India that gives coffee, tea, baking, and smoothies a fantastic taste and creaminess. Hence, Asia-Pacific is expected to enroll the highest development rate over the forecast period from 2022–2030.
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15 Apr 2024
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