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The baking ingredients market size is estimated to grow at a CAGR of 6.21% between 2023 and 2027. The market size is forecast to increase by USD 5,878.8 million.
This baking ingredients market report extensively covers market segmentation by product (flour, yeast ingredients, fats and shortening, sweeteners, and others), application (bread, cookies and biscuits, cakes and pastries, and others), and geography (Europe, APAC, North America, middle east and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
Growing demand for bakery items is the key factor driving the growth of the market. In the past few years, there has been a significant change in the lifestyle and eating habits of consumers. The emerging economies of Central and South America and APAC will prove to be significant markets for baking ingredients in the future. Sweet baked goods, such as cakes, pastries, and other items, are increasingly popular. In addition, the tendency to snack between meals has also increased. In metro cities, the working class demands more takeaways such as rolls, sandwiches, and croissants. As a result, increasing urbanization and changing consumer lifestyles will increase demand for bakery goods, which, in turn, will boost demand for baking ingredients and thus drive the growth of the global baking ingredients market during the forecast period.
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Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
Increasing demand for organic and gluten-free bakery products is the key trend shaping the growth of the market. The baking industry is increasingly favoring healthy ingredients due to their benefits. These ingredients include aluminum-free baking powder, gluten-free flour, and organic baking powder. Demand from health-conscious customers will increase the popularity of organic baked products even though the high cost of production and raw materials make them expensive. This has led to an increase in demand for organic and gluten-free baked products, leading to a need for specific baking ingredients to meet these preferences.
Moreover, to capitalize on this trend, market players are investing in R&D to develop innovative and quality gluten-free and organic ingredients. They are also expanding their production capabilities and product portfolio to meet the growing demand for gluten-free baked goods. In addition, partnerships between baking ingredient manufacturers and bakeries specializing in organic and gluten-free products are being strengthened to ensure a stable supply chain of specialty baking ingredients. Hence, the growing demand for organic and gluten-free bakery products will drive the growth of the global baking ingredients market during the forecast period.
Growing health concerns about diabetes and obesity are the key challenge that affects the growth of the market. Excessive consumption of sugar, for instance, can lead to obesity and diabetes. A large percentage of consumers have abandoned the consumption of bakery foods, such as sweet bread, to avoid consuming trans fats. Likewise, gluten-intolerant consumers avoid consuming artisan bread because most of them are made with flour, all-purpose flour, and other similar flours, which can cause allergies.
Furthermore, removing trans fats from baked goods creates a significant challenge for manufacturers of rolls, sweet bread, and other baked products. Substitutes for trans fats affect product characteristics, including taste, texture, shelf life, and product stability. Whole-wheat bread can raise blood sugar. Most baked goods are high in gluten and have harmful ingredients, such as fructose corn syrup, which can raise bad cholesterol levels. Such factors will impede the growth of the market.
Bread is one of the most widely consumed bakery ingredients in the world, with many variations and shapes found in different cultures and regions. Craft bread, packaged bread, buns, bread crumbs, and breadsticks are some types of bread. Due to the demand and popularity of handmade bread, it is also available in supermarkets and hypermarkets. Furthermore, the demand for packaged bread has also raised due to changing consumer lifestyles, the growth of organized retail, product labeling, and the increasing consumer preference for bread. branded. Another growth driver for the bread segment is the growing popularity of artisan and specialty bread. Hence, such factors will drive the growth of the segment during the forecast period
The market share growth by the flour segment will be significant during the forecast period. One of the significant factors driving the growth of the flour segment is the rising consumption of bakery products globally. Bread, cakes, pastries, and other baked products have become staples in many diets and cultures, leading to an increasing demand for flour. In addition, the popularity of home baking and the growth of the baking ingredients industry are driving the demand for flour. The baking ingredients flour market has witnessed innovation and product diversification over the years.
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The flour segment was valued at USD 4,410.45 million in 2017 and continued to grow until 2021. The demand for rice flour, soybean meal, and corn flour as bakery ingredients is also growing. Demand for rice flour is steadily increasing amid rising consumer awareness of the benefits of gluten-free foods and increasing adoption of healthy lifestyles. The growing demand for healthy flour from bread and convenience food manufacturers has increased the demand for rice flour. This is because more health-conscious consumers are looking for nutritious flour alternatives in pizza, burgers, and other fast foods. Therefore, such factors will drive the growth of the market during the forecast period.
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Europe is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market for bakery ingredients in Europe is expected to grow substantially due to the changing preference of people for natural baking ingredients in Europe. In addition, the adoption of personalized baked goods in Europe is increasing due to the availability of different types of innovative baked products including different flavors, tastes, and textures.
Moreover, consumers in different countries have different needs for baked goods. For example, in Russia and the UK, consumers prefer baked goods such as bread rolls, buns, cookies, snack bars, and muffins. However, in Spain, Turkey, and France, the demand for handmade products is higher. Likewise, the demand for gluten-free baking mixes is very high in Western Europe. Thus, these factors will drive the growth of the bakery ingredients market in the region during the forecast period.
Several nations, such as the UK, Germany, and Italy in Europe were affected by the COVID-19 outbreak in 2020. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown restrictions, which led to the resumption of restaurants, bars, cafes, and eateries. Moreover, growing demand for convenience food products, rising trends in baking and home cooking, increasing awareness of healthy and natural baking ingredients, and expanding the bakery industry will drive the growth of the bakery ingredients market in the region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The baking ingredients market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Baking Ingredients Market Customer Landscape
The baking ingredients market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Baking Ingredients Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.21% |
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Market growth 2023-2027 |
USD 5,878.8 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.78 |
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Regional analysis |
Europe, APAC, North America, Middle East and Africa, and South America |
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Performing market contribution |
Europe at 34% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AAK AB, AB Mauri Food Inc., AGRANA BEteilgungs AG, Archer Daniels Midland Co., Associated British Foods Plc, Azelis SA, Bakels Worldwide, Bakemark USA LLC, Cargill Inc., Corbion nv, Dawn Food Products Inc., Ingredion Inc., Kerry Group Plc, Koninklijke DSM NV, Lallemand Inc., Lesaffre and Cie, Palsgaard AS, Puratos Group NV, Swiss Bake Ingredients Pvt. Ltd., and Zeelandia Group BV |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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