Newark, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 17.25 billion in 2022 global bakery ingredients market will reach USD 31.24 billion by 2032. Developing ingredients that enhance the nutritional profile of bakery products, such as fortifying them with vitamins, minerals, and fibers, aligns with the growing demand for functional foods. Furthermore, offering bakery ingredient customization for clients and consumers will be a significant opportunity. This factor can include tailor-made blends of flours, flavours, and inclusions. Furthermore, experimenting with novel flavours, textures, and inclusions in bakery products can lead to unique and appealing offerings in the market. Eco-friendly and convenient packaging for bakery ingredients can enhance sustainability and appeal to consumers looking for environmentally responsible products. Besides, the food service industry, including restaurants, hotels, and catering services, offers significant opportunities for bakery ingredients, especially for bulk and commercial use. Also, the continued growth of e-commerce and online grocery shopping provides a platform for bakery ingredient suppliers to reach a broader consumer base.
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Key Insight of the global Bakery Ingredients market
Asia Pacific is expected to witness the highest market growth over the forecast period.
Asia Pacific is experiencing substantial urbanization and population growth. This demographic shift drives increased demand for convenient and ready-to-eat bakery products, creating a significant market for bakery ingredients. As incomes rise in the region, there is a shift towards busier lifestyles, leading to a greater reliance on packaged and on-the-go bakery products. This change in lifestyle preferences is boosting the bakery ingredients market. In addition, a growing middle class with higher disposable incomes is driving increased consumption of bakery products, including bread, pastries, and cakes, thereby expanding the market for bakery ingredients. Furthermore, Asia Pacific is increasingly embracing international food trends, expanding the variety of bakery products and ingredients available to consumers. This trend creates opportunities for ingredient suppliers to cater to diverse tastes. Moreover, the proliferation of modern retail outlets, such as supermarkets and hypermarkets, facilitates the distribution of bakery products, leading to higher demand for bakery ingredients. Also, dietary preferences are evolving, and consumers seek novel bakery products with unique ingredients and flavours. This factor encourages innovation and the introduction of new ingredients.
In 2022, the baking powder & mixes segment dominated the market with the largest share of 28.14% and revenue of 4.85 billion.
The type segment includes baking powder & mixes, colors & flavours, emulsifiers, enzymes, preservatives, oils, fats, and shortenings, starch, yeast and others. In 2022, the baking powder & mixes segment dominated the market with the largest share of 28.14% and revenue of 4.85 billion.
In 2022, the dry segment dominated the market with the highest share of 65.49% and market revenue of 11.30 billion.
The form segment is classified into dry and liquid. In 2022, the dry segment dominated the market with the highest share of 65.49% and market revenue of 11.30 billion.
In 2022, the bread segment held the largest market share at 40.61% and a market revenue of 7.01 billion.
The application segment is divided into bread, cakes & pastries, cookies & biscuits, rolls & pies, and others. In 2022, the bread segment held the largest market share at 40.61% and a market revenue of 7.01 billion.
Advancement in market
In April 2023: Flowers Foods, Inc. is pleased to unveil a quartet of fresh additions to its product lineup spanning Nature's Own, Tastykake, and Wonder brands. The company introduces two exciting bun varieties within the bread category, one catering to sweet cravings and the other offering a savoury option just in time for the summer grilling season. Notably, Flowers Foods now presents its inaugural keto white bread loaf, boasting one net carb per slice, catering to health-conscious consumers. This product portfolio expansion builds upon the successful nationwide launch of Dave's Killer Bread Organic Snack Bars earlier this year, aligning with the company's mission to deliver innovative offerings under its renowned brands.
In September 2022: At the Bakery China event, Angel Yeast unveiled its newest dry yeast offering, Premium Dry Yeast, to tackle many baking challenges. This innovative yeast variety aligns perfectly with the baking industry's evolving demands for stability, convenience, and versatile performance. Angel Yeast's unwavering commitment to introducing superior-quality products underscores its dedication to fostering the growth and prosperity of the industry.
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Market Dynamics
Driver: Globalization of food trends.
Globalization has profoundly impacted the food industry, leading to the widespread adoption of international food trends that have significantly expanded the range of bakery products and ingredients available to consumers. One of the most notable effects of globalization on the bakery industry is the cross-cultural exchange of culinary traditions and flavours. People from different parts of the world have become more interconnected through travel, trade, and the internet. They have been exposed to a rich tapestry of global cuisines. This exposure has fueled a growing curiosity and appreciation for diverse food experiences, including bakery products. Furthermore, globalization has led to the sharing of bakery recipes, techniques, and ingredients across borders. This factor has allowed consumers to explore and enjoy various bakery products inspired by various cultural traditions. For example, consumers in North America can easily find croissants, baklava, or sushi-inspired rolls, and those in Europe can enjoy American-style muffins, bagels, and cupcakes.
Restraint: Allergen management.
With the increasing prevalence of food allergies, ingredient suppliers are liable for assuring the safety of their products for consumers with allergies. Ingredient suppliers must be vigilant in managing and labelling allergenic ingredients while minimizing cross-contamination risks. Ingredient suppliers must accurately identify and declare allergenic ingredients in their products. Common allergens include peanuts, tree nuts, soy, milk, eggs, wheat, fish, and shellfish. Clear and comprehensive allergen labelling is crucial to inform consumers about potential allergenic risks. In addition, ingredient suppliers must comply with their operating regions' labelling regulations and guidelines. These regulations often require allergens to be listed on product labels, making it more straightforward for consumers to make informed choices. Furthermore, ingredient suppliers must implement robust protocols and procedures to minimize cross-contamination risks. This process includes maintaining separate production lines for allergenic and non-allergenic ingredients and thoroughly cleaning and sanitizing equipment between runs.
Opportunity: R&D and innovation.
Continuous research and development (R&D) efforts in the bakery ingredients sector drive innovation and improve bakery products' quality, taste, and shelf life. These efforts enable ingredient suppliers to explore new ingredients, formulations, and technologies that enhance the overall bakery experience. R&D activities lead to discovering and developing new and novel ingredients that can be incorporated into bakery products. These ingredients include speciality flours, sweeteners, emulsifiers, and natural flavourings, each designed to improve the quality and texture of baked goods. Furthermore, ongoing research allows ingredient suppliers to create more health-conscious formulations. This factor includes the reduction of sugar, salt, and trans fats and incorporation of whole grains and dietary fibers to cater to health-conscious consumers. Additionally, ongoing R&D leads to technological innovations that enhance the efficiency of ingredient processing and bakery production. This factor includes advancements in ingredient mixing, baking, and quality control.
Challenge: Regulatory compliance.
Meeting evolving and stringent regulations related to food safety, labelling, and ingredient claims is a critical but challenging aspect of the food and beverage industry. While ensuring consumer safety and trust is necessary, compliance can be challenging and expensive for businesses. Food regulations and standards are not static; they evolve. Governments and regulatory bodies regularly update regulations to address emerging concerns, scientific advancements, and consumer expectations. This necessitates continuous monitoring and adaptation by businesses. Food safety and labelling regulations are often complex and involve many requirements. For instance, regulations may dictate the use of specific ingredients, allergen declarations, health claims, nutrition facts, and labelling formats. Complying with all these requirements demands attention to detail and comprehensive documentation. Moreover, food safety is of paramount importance to protect public health. Regulatory agencies enforce rigorous standards to ensure food products are safe for consumption. This factor includes sanitation, hygiene, quality control, and traceability mandates, all requiring significant resources and effort.
Report Scope
| Base Year | 2022 |
| Forecast period | 2023-2032 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | Asia Pacific, Europe, South America, North America, and Middle East & Africa |
| Market Size(unit) | USD 31.24 Billion |
| Bakery Ingredients Market CAGR | 6.12% |
| Segments Covered | Type, Form and Application |
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Some of the major players operating in the global Bakery Ingredients market are:
• Archer-Daniels-Midland Company
• Associated British Foods plc
• Aryzta AG
• AAK AB
• Angel Yeast Co.
• Bakels Group
• Bread Talk Co., Ltd.
• Britannia Industries Ltd.
• Cargill Incorporated
• Corbion N.V
• DuPont
• Dawn Food Products, Inc.
• Flower Foods Inc
• Finsbury Food Group
• General Mills Inc.
• Goodman Fielder
• George Weston Ltd.
• Grupo Bimbo S.A.B. de C.V
• Hostess Brands LLC
• Ingredion Incorporated
• Koninklijke DSM V.V
• Kerry Group, Plc.
• Lallemand Inc.
• Monginis Food Pvt. Ltd.
• Mckee Foods Corporation
• Mondelez International
• Nestle SA
• Novozymes A/S
• Sdzucker
• Tiger Brands Company
• Tate & Lyle PLC
• Taura Natural Ingredients Ltd.
• Uniferm GmbH & Co.
• Yamazaki Baking Co., Ltd.
Key Segments cover in the market:
By Type
• Baking Powder & Mixes
• Colors & Flavours
• Emulsifiers
• Enzymes
• Preservatives
• Oils, Fats, and Shortenings
• Starch
• Yeast
• Others
By Form
• Dry
• Liquid
By Application
• Bread
• Cakes & Pastries
• Cookies & Biscuits
• Rolls & Pies
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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