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The global bakery ingredients market reached a value of US$ 14.8 Billion in 2020. Bakery ingredients refer to food products that are used to improve and maintain the freshness, aroma, taste and shelf-life of baked food products. These ingredients are usually available in the form of emulsifiers, fats, shortenings, blends, colors, flavors, etc., which are used for the preparation of a wide range of bakery and confectionary products such as bread, biscuits, pies, cakes, pastries, etc. The choice of these ingredients and their compositions determine the texture and flavor of the baked product. They also enhance the nutritional content of the product as they are rich in various amino acids, vitamins, carbohydrates and fats. Bakery ingredients find wide applications in the food processing industry as they are readily available, are extremely convenient to use and blend well with other food ingredients.
The increasing demand for convenience food products is one of the key factors driving the growth of the market. Owing to the hectic schedules and changing dietary habits, there has been a rise in the consumption of bakery products across the globe. Furthermore, rising nutritional awareness among consumers and the availability of organic ingredients have further favored the market growth. Fueled by the thriving tourism and hospitality industry, there is a growing product demand for bakery ingredients from various fast food restaurants, bakeries and hotels. Also, the rising trend of social gatherings, corporate parties and related special and festive occasions has led to an increased demand for cakes and pastries. Other factors, including the use of attractive packaging and various product innovations, such as the development of emulsifiers that offer high-fat stability, water and oil holding capacity and longer shelf-life, are also contributing to the market growth. Looking forward, IMARC Group expects the global bakery ingredients market to grow at a CAGR of around 5% during 2021-2026.
Historical, Current and Future Market Trends
Market Breakup by Product Type:
Based on the product type, the market has been segmented as emulsifiers, leavening agents, enzymes, baking powder and mixes, oils, fats and shortenings, colors and flavorings, starch, and others. Amongst these, baking powder and mixes are the most widely used ingredients.
Market Breakup by Application:
On the basis of the application, the market has been segregated into bread, cookies and biscuits, rolls and pies, cakes and pastries, and others. Currently, most of the ingredients are used for producing bread.
Market Breakup by End Use Sector:
The report has analyzed the market according to the end use sector, which mainly includes industrial, foodservice and retail sectors.
Market Breakup by Region:
On a regional basis, Europe represents the largest market for bakery ingredients as baked goods are considered staple food in the region. Furthermore, there has been a rise in the demand for wholegrain, additive-free, gluten-free and ancient grain products, which has enabled manufacturers to use different ingredients in the production process. Other major regions include North America, Asia Pacific, Middle East and Africa, and Latin America.
The report has also analysed the competitive landscape of the market with some of the key players being Cargill, Koninklijke DSM N.V., Kerry Group, Südzucker, AAK AB, Associated British Foods, Lesaffre, Tate & Lyle, Archer Daniels Midland Company, Ingredion Incorporated, Corbion, IFFCO Ingredients Solution, Taura Natural Ingredients, Dawn Foods, Muntons, British Bakels, Lallemand, Novozymes, Taura Natural Ingredients, Puratos Group, etc.
The global bakery ingredients market was valued at US$ 14.8 Billion in 2020.
We expect the global bakery ingredients market to exhibit a CAGR of around 5% during 2021-2026.
The rising demand for ready-to-cook and convenience food products represents one of the key factors driving the global bakery ingredients market.
Sudden outbreak of the COVID-19 pandemic has led to the growing online sales of bakery ingredients due to the increasing adoption of Bake-at-Home trend for preparing cakes, pastries, cookies, etc., during the lockdown scenario.
Based on the product type, the global bakery ingredients market has been bifurcated into emulsifiers, leavening agents, enzymes, baking powder and mixes, oils, fats and shortenings, colors and flavorings, starch, and others. Currently, baking powder and mixes hold the majority of the total market share.
Based on the application, the global bakery ingredients market can be divided into breads, cookies and biscuits, rolls and pies, cakes and pastries, and others. Among these, breads represent the largest segment.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Europe currently dominates the global market.
Some of the major players in the global bakery ingredients market include Cargill, Inc., Koninklijke DSM N.V., Kerry Group, Südzucker, AAK AB, Associated British Foods, Lesaffre, Tate & Lyle, Archer Daniels Midland Company, Ingredion Incorporated, Corbion, IFFCO Ingredients Solution, Taura Natural Ingredients, Dawn Foods, Muntons, British Bakels, Lallemand, Novozymes, Taura Natural Ingredients, Puratos Group, etc.
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