Baking Ingredients Market is to grow by USD 5.87 billion from 2022 to 2027, driven by growing demand for bakery items- Technavio

NEW YORK, Sept. 27, 2023 /PRNewswire/ -- The "baking ingredients market 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) - Forecast and Analysis 2023-2027" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the baking ingredients market from 2022 to 2027 is USD 5.87 billion, according to Technavio. The growing demand for bakery items is the key factor driving the market growth. The consumption patterns and eating habits of consumers have changed significantly in recent years. In the future, emerging economies such as Central and South America and Asia will emerge as major markets for baking ingredients. The popularity of sweet cakes, pastries, and other products is increasing. Moreover, there has also been a rise in the tendency to snack during meals. In urban cities, the working class is demanding more takeout food such as rolls, sandwiches, and croissants. Therefore, increasing urbanization and changing consumer lifestyles will increase the demand for bakery products, which in turn will boost the demand for baking ingredients. Hence, these factors are expected to drive market growth during the forecast period. The consumption patterns and eating habits of consumers have changed significantly in recent years. In the future, emerging economies such as Central and South America and Asia will emerge as major markets for baking ingredients. The popularity of sweet cakes, pastries, and other products is increasing. Moreover, there has also been a rise in the tendency to snack during meals. In urban cities, the working class is demanding more takeout food such as rolls, sandwiches, and croissants. Therefore, increasing urbanization and changing consumer lifestyles will increase the demand for bakery products, which in turn will boost the demand for baking ingredients. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge 

The growing health concerns about diabetes and obesity are the significant challenge restricting market growth. Excessive consumption of sugar, for instance, can lead to obesity and diabetes. In order to prevent trans fats, a significant proportion of consumers have discontinued the consumption of bakery products such as bread. Similarly, intolerant consumers do not want to buy artisan bread because it is mainly made from wheat flour, all other types of gluten flour as well as other similar foods which may cause allergic reactions. Additionally, eliminating trans fats from baked goods is a significant challenge for manufacturers of rolls, sweet breads, and other baked goods. Trans fat substitutes affect product characteristics, including flavor, texture, shelf life, and product stability. Hence, these factors are expected to restrict the market growth during the forecast period. 

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The baking ingredients market is segmented 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). 

• The market share growth by the flour segment will be significant during the forecast period. Increasing global consumption of bakery products is one of the major factors that has led to growth in the flour segment. The rise in demand for flour is due to the fact that bread, cakes, pastries, and others have become staples of a multitude of diets and cultures. Furthermore, demand for flour is being driven by the popularity of home-baked products and an expanding baking ingredient industry. The demand for rice flour, soybean flour, and corn flour as baking ingredients is also increasing. Demand for rice flour is growing amid growing consumer awareness of the benefits of gluten-free foods and increasing adoption of healthy lifestyles. Hence, these factors are expected to drive the segment growth during the forecast period. 

• Europe is estimated to contribute 34% to the growth of the global market during the forecast period. 

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Key Companies in the Baking Ingredients Market:

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

Related Reports:

The flour market size is estimated to grow at a CAGR of 4.51% between 2022 and 2027. The market size is forecast to increase by USD 40,926.8 million.

The butter market size is estimated to grow at a CAGR of 4.93% between 2022 and 2027. The market size is forecast to increase by USD 11.26 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

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