Authored By: Sarah
26 Jun 2024

 Baking Ingredients Market Size to grow by USD 5878.8 million between 2023-2027

According to a research report “ Baking Ingredients Market” by Product (Flour, Yeast ingredients, Fats and shortening, Sweeteners, Others) Application (Bread, Cookies and biscuits, Cakes and pastries, Others) Geography (Europe, APAC, North America, Middle East and Africa, South America)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 5878.8 million, at a CAGR of  6.21% during the forecast period. The global baking ingredients market is experiencing robust growth, driven by key factors such as the expanding urban population, rising disposable income, and increasing adoption of Western lifestyles and nutrition patterns in emerging economies. Notably, Central and South America and the Asia Pacific region are expected to offer significant opportunities for baking ingredients market expansion. In India, for instance, the increasing workforce and rising disposable income have led to a surge in demand for bakery items, particularly sweet goods like cakes, pastries, and other confectionery products. These trends are expected to persist, making these markets attractive for baking ingredients providers over the forecast period.

Browse market data tables, figures, and in-depth TOC on “Baking Ingredients Market” by Product (Flour, Yeast ingredients, Fats and shortening, Sweeteners, Others) Application (Bread, Cookies and biscuits, Cakes and pastries, Others) Geography (Europe, APAC, North America, Middle East and Africa, South America) Global Forecast to 2027. Download Free Sample

 

By Product, the Flour segment is projected to dominate the market size in 2024

The global baking ingredients market encompasses a vast array of products, with bread being a significant category due to its widespread consumption and cultural diversity. Artisan bread, including variations such as baguettes, focaccia, and sourdough, continues to garner steady demand owing to their unique flavors and ethnic origins. These products are typically sold within a short timeframe post-manufacturing. Furthermore, the market for packaged bread is experiencing growth, driven by shifting consumer lifestyles, the rise of organized retail, and increasing consumer preference for branded, convenient options.

By Application, Bread  segment is expected to hold the largest market size for the year 2024

The baking ingredients market is driven by the significant role of flour as a fundamental component in the production of various baked goods. Primarily sourced from wheat, flour provides essential structural, textural, and flavor attributes. However, alternative flours derived from grains such as corn, rice, oats, and soy are also utilized in specialized baking applications. The global consumption of baked goods continues to escalate, fueling the demand for flour. Bread, cakes, pastries, and other bakery products have become dietary staples across numerous cultures, thereby increasing the need for flour. Moreover, the resurgence of home baking and the expansion of the baking industry further amplify the market growth for flour.

Europe is forecasted to hold the largest market size by region in 2024

The European baking ingredients market is projected to experience robust growth during the forecast period, driven by the shifting consumer preference towards natural and organic baking components. Additionally, the market is witnessing an upward trend in the adoption of customized baking solutions, fueled by the availability of a diverse range of innovative baking products, catering to various consumer preferences in terms of flavors, textures, and tastes. For instance, in Russia and the United Kingdom, there is a high demand for rolls, cookies, snack bars, and muffins. Conversely, in Spain, Turkey, and France, there is a stronger inclination towards artisanal baking products.

The Baking Ingredients Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • 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.
  • Zeelandia Group BV
.

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Research Analysis Overview

The baking ingredients market has witnessed significant growth in recent years, driven by the increasing demand for baked goods and urbanization. However, concerns over lifestyle disorders such as high cholesterol and saturated fat intake have led consumers to seek out alternative snack products. As a result, the market for baking ingredients has seen a shift towards the production of low-fat and low-sugar baked goods. Biscuits, cookies, pies, tarts, rolls, cakes, bread, pastries, and other bakery goods continue to be popular items in the food and beverage industry. Key baking ingredients include yeast, baking powders, emulsifiers, enzymes, cocoa powder, and various types of flours. Young people, in particular, are driving demand for convenience foods, leading to an increase in online retail sales of baking ingredients. Alternative ingredients such as plant-based proteins and natural sweeteners are also gaining popularity. Manufacturers are responding to consumer demand by developing new products that cater to health-conscious consumers while still providing the taste and texture of traditional baked goods. This includes the use of reduced-fat and low-sugar baking powders, baking soda, and other ingredients that can help improve the nutritional profile of baked goods without compromising on taste. Overall, the baking ingredients market is expected to continue growing, driven by urbanization, changing consumer preferences, and the increasing popularity of baked goods as a convenient and affordable food option.

Market Research Overview

The baking ingredients market is witnessing significant growth due to the increasing demand for gluten-free and protein-rich options in pies, cakes, pastries, biscuits, cookies, and other baked goods. The bread segment is also experiencing a shift towards healthier alternatives, with an emphasis on reducing cholesterol and saturated fat content. Alternative snack products made from millets, fortified flour, oats, and other functional ingredients are gaining popularity among young people and working consumers. Urbanization and the rise of online retail stores have made packaged foods more accessible, leading to an increase in demand for baking ingredients. Prebiotics, emulsifiers, enzymes, and other additives are being used to improve the nutritional value and shelf life of baked goods. The food and beverage industry is also witnessing a trend towards plant-based ingredients, with dairy-free milk and vegan options becoming increasingly popular. Lifestyle disorders such as diabetes mellitus and metabolic diseases are driving demand for low-sugar and low-fat baking ingredients. Margarine and other sources of trans fatty acids are being replaced with healthier options like yeast, baking powders, and baking soda. Frozen bakery products, convenience foods, and local bakery businesses are also contributing to the growth of the baking ingredients market. Cocoa powder, baking powder, and baking soda remain staples in the baking industry, but there is a growing demand for innovative and functional ingredients to meet the evolving needs of consumers. The market for baking ingredients is expected to continue growing as consumers seek healthier and more convenient options for their baked goods.

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Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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