Bakery Ingredients Market Size Will Grow at a CAGR of 5.8% During Forecast Period 2029 | Exactitude Consultancy

Bakery Ingredients Market growth with key players like Cargill Incorporated, DuPont, Associated British Foods plc, DSM (Koninklijke DSM N.V.), Kerry Group plc, ADM (The Archer-Daniels-Midland Company), AAK AB

United Kingdom


Luton, Bedfordshire, United Kingdom, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Bakery Ingredients market.

The global bakery ingredients market is estimated at USD 12 USD billion in 2019 and is projected to reach USD 20.2 USD billion by 2028, at a CAGR of 5.8% from 2019 to 2028.

Market Overview

Baking ingredients are foods that are used in the bakery industry to create ready-to-eat foods. These additives enhance food's texture, color, flavor, volume, softness, and other properties. The bakery industry has significant growth potential and is expected to play an important role in the food processing sector. This is due to an increase in demand for bakery items as a result of a hectic lifestyle and a preference for fresh and ready-to-eat convenience foods with high nutritional values.

The growing preference for convenient bakery food products as a result of a hectic lifestyle is propelling the global bakery ingredients market forward. Furthermore, there is an increase in demand among health-conscious consumers for low trans-fat and gluten-free bakery products.

Demand for packaged and convenience foods is increasing as living standards and economic conditions improve in both developing and developed economies. Consumers have adopted convenience and packaged foods due to a growing need for leisure and time constraints.

This has increased demand for bakery products such as pastries, cakes, pizza, and bread, as well as baking ingredients.

Get Live Sample of Bakery Ingredients Market- https://exactitudeconsultancy.com/reports/2288/bakery-ingredients-market/#request-a-sample

Report AttributeDetails
Market size value in 2023USD 12 billion
Revenue forecast in 2029USD 20.2 billion
Growth rateCAGR of 5.8% from 2023 to 2029
Base year for estimation2021
Historical data2018 - 2021
Forecast period2023 - 2029
Quantitative unitsRevenue in USD million/billion and CAGR from 2022 to 2030
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredProduct, end-use, region
Regional scopeNorth America; Europe; Asia Pacific; Central & South America; Middle East & Africa
Country scopeU.S.; Canada; Mexico; UK; Germany; France; Italy; Spain; Netherlands; Poland; Portugal; China; India; Japan; South Korea; Australia; Brazil; Argentina; South Africa; Saudi Arabia
Key companies profiledFlower Foods Inc; Hostess Brands LLC; George Weston Ltd; Grupo Bimbo S.A.B. de C.V; Nestle SA; Finsbury Food Group; Aryzta AG; Britannia Industries Ltd; Tiger Brands Company; Goodman Fielder; Uniferm GmbH & Co.; General Mills Inc; Bread Talk Co. Ltd; Mckee Foods Corporation; Mondelez International; Yamazaki Baking Co. Ltd; Monginis Food Pvt. Ltd;Koninklijke DSM V.V; Associated British Foods plc.
Customization scopeFree report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase optionsAvail customized purchase options to meet your exact research needs.

Trends 

  1. High Protein

High protein continues to grow in popularity in the bakery industry. Protein appeals to consumers for a variety of reasons, including general health, exercise support, and weight management, with an increasing number seeking high-protein versions of their favorite baked goods.

  1. Gluten-Free and the Use of Oats

Gluten-free is also becoming more popular in bakeries, with gluten-free claims appearing in 10% of 2020s. Bread is the bakery product most likely to carry a gluten-free claim, as it is an important staple for many people, and 28% of US bread consumers check for gluten-free claims on bread.

  1. Seeds and Seed Flours

Seeds are emerging as a gluten-free alternative to wheat in bakery products, adding enticing textures and flavors while also supporting gluten-free formulation. Between May 2018 and April 2021, new launches of global bakery, snack, and cereal products containing sunflower seed flour increased 47%, while those containing linseed flour increased 12% and those containing sesame flour increased 7%.

Union Premium Bread with Grains and Seeds (Peru) with sunflower, linseed, sesame, and chia seeds and Remis Tomato & Kale Organic Vegetable Crackers (Canada) with sunflower, sesame, and flax seeds are two new product launches. Seeds are also appealing as a source of protein and omega-3 fatty acids.

  1. Sugar Reduction

In the United States, 28% of bread consumers look for low sugar claims7, while 28% of UK consumers value "not too sweet" in baked goods. 8 Despite this interest in lower sugar, only 4% of bakery products worldwide claim to be low, no, or reduced in sugar.
However, the bakery industry is on track to meet this demand, particularly by identifying ways to reduce sugar while maintaining the quality of taste that consumers expect.

  1. Technology Transformation
  2. Experience Exploration
  3. Daily Delights
  4. Mindfulness Matters

Bakery Ingredients Market Segmentation 

By Form

  • Dry
  • Liquid

Due to the widespread availability of several dry baking ingredients, the dry segment is expected to grow significantly during the forecast period. Dry ingredients, such as flour, are used more frequently in baking than other ingredients. Dry baking ingredients are easier to sort and store than liquid baking ingredients. 

 By Application

  • Bread: Bread holds a major value share in the global market at around 43.5% in 2022.
  • Cookies and Biscuits
  • Rolls and Pies
  • Cakes and Pastries
  • Others

Bread is one of the most popular bakery products worldwide, so the bread segment is expected to grow steadily during the forecast period. Bread is high in carbohydrates, vitamin B, vitamin E, and other nutrients. Bread is a staple food in many cultures around the world. Sliced bread is a popular type of bread in many countries around the world.

By Type

  • Enzymes
  • Starch
  • Fiber
  • Colors
  • Flavors
  • Emulsifier
  • Antimicrobials
  • Fats & Oils: The market volume share of fats & oils in bakery ingredients is 58.9% in 2022.
  • Dry baking mix
  • Baking Mixes
  • Baking Powder
  • Preservatives
  • Leavening Agents
  • Others

Due to the increasing use of ready-to-use baking mixes to make cakes, waffles, pizza dough, cookies, and other items, the baking mixes segment is expected to hold a significant market share during the forecast period. Baking mixes help users save time in the kitchen by reducing baking time. This factor promotes the expansion of the baking mix segment.

Baking powder is one of the most important ingredients used in baking a variety of bakery products, so it is expected to grow in the coming years.

Because emulsifiers are used to extend the shelf life of bakery products, the emulsifiers segment is expected to grow rapidly during the forecast period. Emulsifiers are used to condition dough, which helps it last longer. This factor contributes to the growth of the emulsifiers segment.

Regional Insights 

U.S.: Indulgence categories grow despite health concerns

Consumers in the United States are attempting to live healthier lives, which is having a significant impact on the entire food industry. Given this trend, baked foods should be one of the most challenging segments of the market, as many of the common ingredients used in these items are avoided by health-conscious consumers who are wary of carbohydrates and sugar.

China: Packaged cakes lose popularity

Packaged cakes flooded the Chinese market with unique textures and flavors years ago, but the situation has changed, and customers are now overwhelmed by other alternatives in packaged bread and pastries. The decline in packaged cakes can be attributed in part to their high fat and sugar content. 

Brazil: Focus on nutrition

Manufacturers are responding to the trend toward unpackaged baked goods by introducing more appealing packaged bread and cakes. It's also worth noting that consumers prefer packaged bread with healthier ingredients, distinct packaging, and clean labels. Similarly, gluten- and lactose-free options from small local players are gaining traction, though the price remains a barrier to entry for the majority of the country's consumers.

Italy: Healthy propositions set to boom

Gluten-free bread became increasingly popular toward the end of 2018. While these products were traditionally found in specialty retailers such as health stores, Italian supermarkets began to stock a wider range of gluten-free products, expanding shelf space and increasing exposure.

Many Italian consumers, who are not necessarily gluten intolerant, have begun to consume gluten-free bread in the belief that it is more digestible and healthier.

Japan: Healthier baked goods rise

Better-for-your products and crustier bread are becoming more popular in baked foods, owing to a growing health and wellness trend and manufacturers' efforts to increase demand.

Competitive Landscape

The top bakery ingredients manufacturers are focusing on innovation and technological advancement to maintain the quality of the ingredient. Some of the major key players in the market are Cargill Incorporated, DuPont, Associated British Foods plc, DSM (Koninklijke DSM N.V.), Kerry Group plc, ADM (The Archer-Daniels-Midland Company), AAK AB, British Bakels, International Flavors & Fragrances Inc, Dawn Food Products, Inc., Corbion, Ingredion, Lesaffre, Puratos, Lallemand Inc., Darling Ingredients Inc., Omega Protein Corporation, Roquette Frères, SunOpta, BASF SE, Tate & Lyle, Novozymes, BDF Natural Ingredients, S.L., Jiangsu Boli Bio-Products Co., Ltd., Caldic B.V., AB Enzymes, Döhler, AngelYeast Co., Ltd., Lonza, Chr. Hansen Holding A/S, Taura Natural Ingredients Ltd., FLOWERS FOODS, INC., McKee Foods, Swiss Bake Ingredients Pvt. Ltd., UNIFERM GmbH & Co. KG, Hostess Brands, Inc., George Weston Limited, Grupo Bimbo, General Mills Inc., CSM Ingredients, Others.

29 November 2022: ASSIST and Cargill partner together to bolster food security in the Philippines by capacitating smallholder corn farmers

13 January 2022: DSM launches new Food & Beverage business group – a one-stop-shop offering a full range of taste, texture, and health solutions

07 December 2022: Kerry and the World Food Programme partner to bring milk to over 3,000 Burundian school children

01 December 2022: Kerry Launches New Tool to Assess Front-of-Pack Nutrition Labels

August 31, 2022 – BASF has entered into a binding agreement with Lallemand Inc’s subsidiary, Danstar Ferment AG, to divest the BASF Nutrilife® baking enzymes portfolio and business. Nutrilife® enables food suppliers to produce affordable, healthy, and appealing food products while contributing to more efficient use of resources.

In October 2021, Cargill, a US-based global food corporation, launched SimPure 92260, which is a soluble rice flour that has a similar texture, taste, and functionality as maltodextrin, which is a commonly used bulking agent and flavor carrier. The soluble rice flour offers similar attributes to maltodextrins such as viscosity, sensory profile, and bulking agent functionality that enables one-to-one ingredient replacement in various bakery products.

FAQS

  1. How much is the global baking ingredients market worth?
  2. Who are the key players in the global baking ingredients market?
  3. Which Bakery Ingredient Type is Leading the Market?
  4. What segments are covered in the Baking Ingredients Market report?
  5. What are the key driving factors for the growth of the Baking Ingredients Market?

Get Discount On this Report-> https://exactitudeconsultancy.com/reports/2288/bakery-ingredients-market/#inquire-for-discount

Related Reports 

Food Coating Market -
The global Food Coating Market is expected to grow at a 5.75% CAGR from 2020 to 2029. It is expected to reach above USD 3.72 billion by 2029 from USD 2.25 billion in 2020.

https://exactitudeconsultancy.com/reports/7054/food-coating-market/
Bakery Equipment Market –
The global bakery equipment market is expected to grow at 5.1% CAGR from 2019 to 2028. It is expected to reach above USD 15.26 billion by 2028 from USD 10.72billion in 2019.

https://exactitudeconsultancy.com/reports/2247/bakery-equipment-market/
Sugar Substitutes Market –
The Global sugar substitutes market size is expected to grow at 5.5% CAGR from 2019 to 2028. It is expected to reach above USD 27.62 billion by 2028 from USD 17.06 billion in 2019.

https://exactitudeconsultancy.com/reports/2422/sugar-substitutes-market/

Natural Food Colors & Flavors Market –
The natural food colors & flavors market size is estimated to be valued at USD 5.0 billion in 2020 and projected to reach USD 7.6 billion by 2028, recording a CAGR of 5.4%.

https://exactitudeconsultancy.com/reports/9599/natural-food-colors-flavors-market/
Dairy Alternatives Market –
The global dairy alternatives market is expected to grow at more than 12.5% CAGR from 2019 to 2028. It is expected to reach above USD 52.5 billion by 2028 from a little above USD 19.29 billion in 2019.

https://exactitudeconsultancy.com/reports/2426/dairy-alternatives-market/

 

Contact Data