According to the latest report by IMARC Group, titled “Bakery Ingredients Market: Global Industry, Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global bakery ingredients market reached a value of US$ 15.7 Billion in 2022. Bakery ingredients refer to products intended to enhance and maintain the freshness, aroma, taste, and shelf-life of baked food products. They include fats, colors, blends, flavors, emulsifiers, and shortenings. They are widely used in the preparation of bakery and confectionery products, such as bread, cakes, cookies, tarts, pies, pastries, donuts, and pizza. They assist in maintaining the taste and freshness, enhancing the nutritional level, improving the shelf life, and increasing the protein content of baked products. As a result, bakery ingredients are widely utilized in the food processing industry.
Global Bakery Ingredients Market Trends:
The increasing demand for convenient, ready-to-eat (RTE) food products due to rapid urbanization, hectic schedules, and altering dietary patterns are creating a positive outlook for the market. Additionally, the rising trend of corporate parties, weddings, and other celebrations has facilitated the serving of cakes, muffins, and pastries at such gatherings, which is acting as another growth-inducing factor. Apart from this, the introduction of healthy, low trans-fat product variants due to the increasing prevalence of obesity and diabetes across the globe, supported by a rise in fitness-related concerns, is providing an impetus to the market growth. Furthermore, the launch of organic and gluten-free bakery ingredients for consumers with gluten intolerance and celiac disease is positively impacting the market growth. Other factors, including the growing popularity of clean-label bakery products, rising expenditure capacities of consumers, and the development of emulsifiers that offer high-fat stability, water and oil holding capacity, and longer shelf life, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market value is expected to reach US$ 21.4 Billion by 2028, exhibiting a CAGR of 5.2% during 2023-2028.
- Based on the product type, the market has been segmented into emulsifiers, leavening agents, enzymes, baking powder and mixes, oils, fats and shortenings, colors and flavors, starch, and others. Amongst these, baking powder and mixes are the most widely used ingredients.
- On the basis of the application, the market has been categorized into bread, cookies and biscuits, rolls and pies, cakes and pastries, and others. Currently, most of the ingredients are used for producing breads.
- Based on the end use sector, the market has been divided into industrial, food service, and retail.
- On a regional basis, the market is dominated by Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Others major regions include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Cargill, Incorporated, Koninklijke DSM N.V., Kerry Group, Südzucker AB, AAK AB, Associated British Foods, Lesaffre ET Compagnie, Tate & Lyle, PLC Archer Daniels Midland Company, Ingredion Incorporated, Corbion N.V., IFFCO Ingredients Solution, Taura Natural Ingredients Limited, Dawn Foods Products, Inc., Muntons Plc, British Bakels Ltd., Lallemand Inc., Novozymes A/S, and Puratos Group.
|Base Year of the Analysis
||Product Type, Application, End Use Sector, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||Cargill, Incorporated, Koninklijke DSM N.V., Kerry Group, Südzucker AB, AAK AB, Associated British Foods, Lesaffre ET Compagnie, Tate & Lyle, PLC Archer Daniels Midland Company, Ingredion Incorporated, Corbion N.V., IFFCO Ingredients Solution, Taura Natural Ingredients Limited, Dawn Foods Products, Inc., Muntons Plc, British Bakels Ltd., Lallemand Inc., Novozymes A/S, and Puratos Group
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