Baking Ingredients Market by Type, Application and Region - Global Forecast to 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Baking Ingredients Market by Type (Emulsifiers, Leavening Agents, Enzymes, Baking Powders & Mixes, Oil, Fats & Shortenings, Starch, Colors & Flavors, Preservatives, Fibers), Application (Bread and Sweet Bakery), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global baking ingredients market is estimated to be USD 16.6 billion in 2021 and is projected to reach USD 22.3 billion by 2026, at a CAGR of 6.0% from 2021 to 2026.

The market for baking powder and mixes is projected to grow at the highest CAGR between 2021 and 2026.

The fiber segment among various baking ingredients is expected to grow at the highest rate during the forecast period. The increased consumer health awareness has triggered the interest in adding functional ingredients, such as dietary fiber, in popular foods, including bread. The dietary fiber usage in bread production causes changes in the physical parameters of bread, shelf-life, and sensory characteristics of bread.

The bread segment of baking ingredients type is projected to grow at the highest CAGR between 2021 and 2026.

The market for sweet bakery is expected to grow faster than the bread segment. Increasing consumption of ready-to-eat food, owing to the growing demand for convenience, changing preferences for flavored food products, is pushing the revenue generation in the cakes, pastries, and other sweet bakery segments of the market. The introduction of bakery products, including cakes, pastries, and sweet pies, with health claims, such as those with lower high-fructose corn syrup and sodium and with higher amounts of fiber, is expected to attract consumers, which will help the overall market to grow. New healthier varieties with less fat are now being introduced by vendors to attract the health-conscious population across the globe. Owing to the growing customer base, the impact of the demographic changes and changing attitudes are all expected to drive growth in this segment.

Cakes segment in the sweet bakery application is projected to grow at the highest CAGR between 2021 and 2026.

The rising consumption, shifting preferences, and the emergence of small producers are among the changes transforming the organized cake industry across the world. A wide range of cakes has emerged, such as artesian cakes, dessert cakes, and sponge cakes. Cupcakes and other types of high-shelf life dry cakes are widely available in the largest chain of supermarkets, such as Walmart, Sainsbury's, Tesco, 7Eleven, Apar, and Aldi. Online sales of cakes are significantly increasing in several parts of the world as it is very easy and convenient for customers to place an order for the desired cakes. Almost all retail companies are entering the industry through e-Commerce portals due to the maximum customer engagement.

Asia Pacific market for baking ingredients is projected to grow at the highest CAGR during the forecast period.

The market for baking ingredients in Asia Pacific is projected to witness the highest growth rate during the review period. This is attributed to the increasing demand for baked goods resulting from a changing consumer preference toward ready-to-eat and healthy & convenient foods. Its economic importance has increased in the last decade. With the rising population and improving the purchasing power of consumers in developing countries such as China and India, the market in this region is expected to witness high growth in the future.

Market Dynamics

Drivers

• Global Rise in the Consumption of Bakery Products and Confectionery
• Fast-Paced Lifestyles of Consumers and Changing Consumption Patterns

Restraints

• Stringent Regulations and International Quality Standards
• Health Issues Due to Excess Consumption of Trans-Fatty Acids

Opportunities

• Growing Trend of Veganism and Vegetarianism Among Consumers
• Emerging Functions of Baking Ingredients
• Growth of the Frozen Bakery Products Market

Challenges

• Increase in Awareness About Health & Wellness Impacting the Consumption of Bakery Products
• Intense Competition and Product Rivalry Due to Similar Products

Companies Mentioned

• AAK Ab
• Archer Daniels Midland Company
• Associated British Foods plc
• British Bakels
• Cargill
• Carif
• Corbion
• Dawn Foods Products, Inc.
• Dupont
• Iffco
• Ingredion
• International Flavors and Fragrances Inc.
• Ireks Gmbh
• Kerry Group plc
• Koninklijke Dsm N.V.
• Lallemand Inc.
• Lesaffre
• Millbaker Sas.
• OYC Americas
• Puratos
• Rich Product Corporation
• Sensient Technologies Corporation
• Swiss Bake Ingredients Pvt. Ltd
• Tastetech
• Tate & Lyle

For more information about this report visit https://www.researchandmarkets.com/r/p0yujl