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The baking ingredients market, estimated to be valued at USD 13.03 Billion in 2017, is projected to grow at a CAGR of 5.4% from 2017 to 2022. Ingredients such as enzymes improve protein solubility and reduce bitterness in end products, making enzymes one of the most preferred ingredients in the baking industry. With heavy investment in R&D, new applications such as protein-based fat replacements, flavor enhancements, textural improvements are emerging rapidly and prolonging the shelf life of products. Baking ingredients offer several advantages such as reduced costs, volume enhancement, texture, color, and flavor enhancement. Hence, baking ingredients will be viewed as a business opportunity in the next five years. As a result, many multinational players have entered into the production of varied types of baking ingredients.
Baking powder & mixes dominated the baking ingredients market in 2016
The baking powders & mixes segment accounted for the largest share in the baking ingredients market, followed by oils, and fats & shortenings. Baking products such as muffins, biscuits, cakes, and cookies usually use baking powder in place of yeast. Baking powder is always preferred over other ingredients, especially yeast, because of its quick processing time. The growing number of bakeries and outlets such as in-store bakeries, convenience stores, supermarket & hypermarket bakeries, artisan bakeries, and café bakers has cumulatively increased demand for baking powder and mixes, globally.
Bread: The most consumed baked product globally in 2016
The bread segment accounted for the largest share in the baking ingredients market in terms of both, value as well as volume. Bread and bread products are a great source of energy, easy to prepare, and a cost-effective option as compared to other premium bakery products. The growing bread consumption is also driven by product innovation to cater to the changing demands for healthy food options from consumers.
Increasing consumption of baked foods in developing countries to boost the baking ingredients market
Developing economies in the Asia-Pacific, Latin America, Eastern Europe, and the Middle East regions are prospering in terms of increasing GDP with the working population on the rise. With the rising population and improved purchasing power of developing countries such as China and India, the market is expected to show double-digit growth in the future. Factors such as changes in eating habits of consumers, increasing urbanization, and rise in the consumption patterns of baked products have driven growth in the market in this region. For instance, bread is replacing traditional Chinese breakfast items such as porridge and fried dough sticks. In emerging economies, the penetration of packaged and convenience food is the driving the baking industry.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as Koninklijke DSM N.V. (the Netherlands), Corbion (The Netherlands), Cargill (U.S.), Kerry Group plc (Ireland), and Associated British Foods Limited (U.K.).
The report covers the emulsifiers, leavening agents, enzymes, baking powder & mixes, starch, oils, fats & shortenings, colors & flavors segments in terms of value and volume. In terms of insights, this research report has focused on various levels of analysis—industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global baking ingredients market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
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