The Baking Ingredients Market is segmented by Product (Flour, Yeast ingredients, Fats and shortening, Sweeteners, and Others), Application (Bread, Cookies and biscuits, Cakes and pastries, and Others), and Geography (Europe, APAC, North America, Middle East and Africa, and South America). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 6551.2 million, at a CAGR of 6.5% during the forecast period. There are several companies that are contributing to the market as per this report. Increasing demand for organic and gluten-free bakery products .
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.
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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.
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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.
According to Technavio's market research, the global baking ingredients market is a significant segment of the larger global packaged foods and meats market, which falls under the food products sector of the food, beverage, and tobacco industry. The packaged foods and meats market encompasses food processing companies that focus on eliminating microorganisms and extending the shelf life of their products. Technavio determines the market size by calculating the consolidated revenue generated by the market's participating vendors. It's important to note that this market classification does not include manufacturers of food processing equipment or producers of packaged alcoholic and non-alcoholic beverages, excluding mineral waters. - The Baking Ingredients Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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