Baking Ingredients Market Size, Share, Global Trends and Forecast

 

Global Baking Ingredients Market

The Baking Ingredients Market size is projected to touch USD 23,727 Million by 2027, growing at a CAGR of 6.4% over the forecast period, owing to the increasing inclination towards western food habits and accelerating urban population. Factors including changing customer preferences, growing demand for organic products, and application of baking ingredients across different food items will drive the market growth.

Growing health concerns, increasing disposable income, and rising demand for ready-made food alternatives are some major factors supplementing the growth of the global baking ingredients market. In addition, increasing trend of on-the -go products aided by hectic lifestyle and increasing demand for gluten-free, lower trans-fat, and products with less sugar content will strengthen the market growth over the upcoming years. The changing preference of consumers towards the natural food items because of their enlarged shelf life has bolstered the market growth

By type, the baking powder & mixes segment is forecast to dominate the market over the forecast period, owing to the growing number of the bakery outlets. As per the baking ingredient market research, growing usage of baking mixes across various applications like muffins, pizza crusts, pancakes, pastries, and cakes, has augmented the market growth.

By region, Asia-Pacific will hold a larger share over the forecast period, owing to the increasing number of bakery outlets in the emerging economies which include, India, and Australia. In addition, growing demand for convenience and baked products, along with the inclination towards western food habits among the young population, will further propel the Asia-Pacific region. Other factors including rapid urbanization, changing consumer taste and preferences, and the increasing disposable income of middle-class families are expected to drive the regional growth.

Market Segmentation

Global Baking Ingredients Market by Type
  • Emulsifiers
  • Leavening agents
  • Enzymes
  • Baking powder & mixes
  • Oils, Fats, and shortenings
  • Colors & flavors
  • Starch
  • Others
Global Baking Ingredients Market by Application
  • Breads
  • Cookies & biscuits
  • Rolls & pies
  • Cakes & pastries
  • Others
Global Baking Ingredients Market by Region:
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • RoW
    • UAE
    • Brazil
    • South Africa
    • Saudi Arabia

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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