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The global bakery ingredients market was valued at US$ 14.8 Billion in 2020.
We expect the global bakery ingredients market to grow at 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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