Chicago, Oct. 31, 2022 (GLOBE NEWSWIRE) -- According to MarketsandMarkets™, 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- Global Forecast to 2026”, published by MarketsandMarkets, the bakery ingredients market will grow to USD 22,271.3 million by 2026, growing at a CAGR of 6.0% during the forecast period.
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The fast-paced lifestyle increased disposable income, and growing awareness about climate change and animal welfare has caused a shift in consumption patterns. Consumers now look for natural, sustainable, vegan convenience foods to meet their dietary requirements. Bakery foods being easily accessible, nutritious, and rich in texture and taste, have been the most popular and convenient food in recent years. The burgeoning café culture, home-grown bakeries, and supermarkets are all catering to the diversified needs of the consumers by employing a variety of bakery ingredients, augmenting the expansion of the bakery ingredients market. Besides, a surge in demand for healthy frozen desserts has resulted in applying natural and functional foods like enzymes and fibers in the bakery ingredients market.
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225 – Tables
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269 – Pages
Fiber is the fastest-growing segment among the various type of baking ingredients during the forecast period
Fiber is used as a replacement for fat in baking to enhance baked products taste, texture, mouthfeel, and color. Adding functional food like fibers in cakes, muffins, cookies, and other baked goods will increase the fiber content of the foods, thereby improving the overall nutritional quality of the products. The application of fiber in baking is thus helping in addressing the issue of the growing burden of lifestyle diseases like diabetes mellitus, obesity, hypercholesterolemia, and others. Cargill (US), Kerry Group Plc (Ireland), and Tate & Lyle (UK) are some of the key players in manufacturing fiber baking ingredients. The Novelose 3490 is a bakery ingredient launched by Ingredion, Inc, which can be utilized to create high-fiber baked goods and snacks that promote digestive health.
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Asia Pacific region is witnessing the highest growth rate in the bakery ingredients market
The Asia Pacific region includes countries such as China, India, Japan, Vietnam, Korea, Australia, New Zealand, and the Rest of Asia Pacific. In recent years, China's bakery industry has grown quickly, supported by the nation's growing middle class, continued Westernization of lives and diets, and rising demand for convenience foods. Given the size of the country's population and its relatively small consumer base, according to Euromonitor International, retail sales of baked products in China would increase by 53% from current levels to USD 53 billion by 2025. The bakery industry in India has become quite well-known as a result of the country's rapid population growth, increasing foreign influence, the expansion of the working-age female population, and the nation's shifting eating patterns. The popularity of bakery ingredients can also be attributed to their high nutritious content and low cost. Consumers are demanding innovative options for bakery goods, and the sector has been fortifying bakery goods to sate the growing appetite of health-conscious Indian men, women, and children. Indian food processing sector occupies a significant position in the traditional activity of baking. Several healthy wheat-based products have been introduced in India's bakery industry and are rapidly gaining popularity.
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