Global Bakery Ingredients Market To Be Driven By Increasing Demand For Products Like Bread And Biscuits In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Bakery Ingredients Market Share, Size, Price, Growth, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global bakery ingredients market, assessing the market based on its segments like ingredient types, applications, and major regions such as North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 14.8 Billion
- Forecast CAGR (2021-2026): 6.0%
- Forecast Market Size (2026): USD 21 Billion
The growing demand for items like bread and biscuits is driving the global market for bakery ingredients. The growing global awareness of bakery ingredients with health benefits and little or no artificial constituents, especially in mature markets like North America and Europe, is boosting the demand for bakery ingredients. The growth of the bakery ingredients industry is being fueled by busy lifestyles and changing eating habits. People in developing economies are changing their culture and routines, and there is a growing demand for low-trans-fat and gluten-free products, which is fueling the growth of the bakery ingredients industry.
Furthermore, the rapid rise in obesity cases and increased fitness issues are driving up demand for healthy baking ingredients. Even though, the market growth may be hampered by strict regulations and the introduction of international quality standards, the potential market for frozen baking foods, combined with proactive efforts by major players to lower production costs and prolong product shelf life, is expected to support bakery ingredient market growth.
Bakery Ingredients Industry Definition and Major Segments
Bakery ingredients are those that give baked goods their freshness, softness, and flavour, as well as extending their shelf life and adding protein.
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Based on the type of ingredient, the market is divided into:
- Baking Enzymes
- Leavening Agents
- Fats and Shortenings
- Colours and Flavours
Based on the application, the market is divided into:
- Cake and Pastries
- Biscuit and Cookies
- Rolls, Puffs, and Pies
Based on the region, the market can be segmented into:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Bakery Ingredients Market Trends
Shifting consumer lifestyles, rising demand for gluten-free items, rising preference for convenience foods, and rising demand for natural and balanced ingredients are driving the global market for baking ingredients. Due to the demand for bakery products and the use of advanced technologies in the production of baked goods, Europe is expected to hold the largest market share during the forecast era.
Key Market Players
The major players in the market are Cargill Incorporated, Koninklijke DSM N.V., DuPont de Nemours Inc., Ingredion Incorporated, Kerry Group plc, EMU AG and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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