(Entertainment-NewsWire.com, November 25, 2021 ) The 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.
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.
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.
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.
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.
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.).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.