According to Facts and Factors Market Research, the global Baking Ingredients market in 2019 was approximately USD 14 Billion. The market is expected to grow at a CAGR of 5% and is anticipated to reach around USD 20.18 Billion by 2026.
Baking ingredients are used in baking products such as bread, cookies, biscuits, cakes, pies, tarts, pastries, dumplings, donuts, and frozen products. In bakery products, it is primarily used to improve the overall quality of the product, save time and durability. It is necessary to use a good quality ingredient when baking to preserve softness and taste. For instance, in bread making, yeast is an important ingredient whose gas is created for better results should be kept inside the dough.
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Top Market Players
- British Foods Limited
- crust ‘n’ crumb food ingredients pvt Ltd.
- Cargill Inc
- Caravan Ingredients
- Royal DSM N.V.
- Kerry Group plc
- Corbian N.V.
- Dawn Foods Ltd
- British Bakels Ltd
- AAK UK
- Muntons plc.
The growing attraction for baked and fast food along with easy access to baked and packed food generating market growth across the world. The market for baked goods is growing, owing to the Millenials. The Millenials are becoming a foodie and they are always eager to try new products. This has a positive impact on fast food stores and the bakery market. The rising health concern is one of the restrain in front of the market.
Growing obesity and aging populations have brought on the international front. The increase in awareness of health has a direct effect on the food consumption habits of people. Sugar intake and extra calories directly affect a person’s weight. Sugar represents a major source of fructose. Fructose intake increases the desire to eat more food. In addition, excess fructose intake induces leptin resistance. Leptin is an essential hormone that controls appetite to stop eating and tells the body. Hunger rise increases the intake of food which increases the person’s obesity. The rising obesity is an invitation for heart attack. Therefore, the rise in obesity is estimated to hinder market growth.
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North America leads the market for baking ingredients, owing to the intense consumption of bakery products. Bread is consumed on a daily basis across the globe, which is projected to stimulate the growth of baking ingredients. In fact, a reluctance to cook on a daily basis results in high demand for bakery products.
The Asia Pacific is considered the most significant region in the forecast period and is likely to gain momentum. The number of bakeries in Asia Pacificissurging rapidly as demand for bakery products is increasing. The correction in disposable income is augmenting market growth, particularly in India and China.
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Europe is the second-largest bakery product market. The hectic lifestyle encourages people to enjoy fast-paced food like pocket sandwiches, pastries, cupcakes, and pies. Consumption of various types of bread in meals and breakfast is estimated to generate the major demand for baking ingredients. The wide range of bread categories is favoring France to become the leading market for the demand and production of bread.
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This report segments the Baking Ingredients market as follows:
Global Baking Ingredients Market: By Type Segmentation Analysis
- Leavening agents
- Fats & shortenings
- Baking powders & mixes
Global Baking Ingredients Market: By Application Segmentation Analysis
- Cakes & pastries
- Rolls & pies
- Biscuits & cookies
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