Baking Ingredients Market to be Worth $25.92 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Nov. 29, 2022 /PRNewswire/ -- The global baking ingredients market is predicted to reach USD 25.92 billion by 2030, according to a new report by Grand View Research, Inc., growing at a CAGR of 6.1% from 2022-2030 in terms of revenue. Baking ingredients that reduce fermentation time, and are used in packaged & convenience foods, are high in demand.

Key Industry Insights & Findings from the report:

• In terms of revenue, the bread segment became the largest end-use in 2021. Many countries across the globe consider bread to be a staple food. It also has a variety of uses in the food processing industry which is expected to continue over the projected timeframe.
• As an ingredient in baking, enzymes are anticipated to experience the highest CAGR as they play a significant role in extending the shelf life and providing anti-staling properties in baked goods.
• The Asia Pacific market is anticipated expected to have the highest CAGR from 2022-2030 owing to the growing working population and customers' adaption to a western food lifestyle.
• The major players in the baking ingredients market include Hostess Brands LLC, George Weston Ltd., Flowers Foods Inc, Mckee Foods Corporation, and Grupo Bimbo.

Read 110-page full market research report, "Baking Ingredients Market Size, Share & Trends Analysis Report By Product (Emulsifiers, Yeast, Enzymes, Baking Powder & Mixes), By End-use (Bread, Cakes & Pastries, Rolls & Pies), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Baking Ingredients Market Growth & Trends

The demand for packaged as well as convenience foods are is increasing owing to rising living standards and improving economic conditions improve in developing economies. Consumers have adopted convenience and packaged foods due to a growing need for leisure, time constraints, and hectic lifestyles. This has increased competition for bakery products such as cakes, pizza, bread, and pastries thereby boosting the demand for baking ingredients.

A traditional home-cooked meal is being replaced by ready-to-eat baked food, particularly in developed economies in regions such as Europe and North America where consumer prefers rolls, pocket sandwiches, and wraps over time-consuming food due to their hectic lifestyle. These factors may have an impact on the global baking ingredients market's growth. Furthermore, the increasing out-of-home food spending has resulted in an increase in the number of coffee shops, retail outlets, convenience stores, artisan bakeries, and in-store bakeries that provide a wide range of innovative baked food options.

Leading market players are investing in various projects through research and development in order to develop innovative products and expand their consumer base. A major market trend that has been observed is an increase in demand for natural baking ingredients, which is anticipated to gain traction in the near future. This is primarily due to an increase in the number of health-conscious people, as people as well as increased awareness of regarding the advantages of natural baking ingredients such as oils, natural flavors, and sweeteners.

The market in Europe is predicted to hold a significant market share and rise steadily with a significant CAGR between 2022-2030. The bakery industry is attempting to avoid the use of butter as plant-based and flexitarian diets among European consumers is gaining gain popularity, which is driving up demand for bakery ingredients in the region. Industrial popularity. Industrial bakeries have a great opportunity to develop new products and make plant-based baked goods, which has led to trends in the market for bakery ingredients, particularly in Germany. On the other hand, the rising demand for plant-based baked products in Germany is boosting demand for baking supplies in the nearby markets.

Baking Ingredients Market Segmentation

Grand View Research has segmented the global baking ingredients market based on product, end-use, and region:

Baking Ingredients Market - Product Outlook (Revenue, USD Million, 2017 - 2030)

• Emulsifiers
• Yeast
• Enzymes
• Baking Powder & Mixes
• Oils, Fats, and Shortenings
• Colors & Flavors
• Starch
• Preservatives
• Others

Baking Ingredients Market - End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Bread
• Cookies & Biscuits
• Cakes & Pastries
• Rolls & Pies
• Other

Baking Ingredients Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe         
• U.K.
• Germany
• France
• Italy
• Spain
• Netherlands
• Poland
• Portugal
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Central & South America
• Brazil
• Argentina
• Middle East & Africa
• Saudi Arabia
• South Africa

List of Key Players of Baking Ingredients Market

• Flower Foods Inc
• Hostess Brands LLC
• Mckee Foods Corporation
• George Weston Ltd.
• Grupo Bimbo. S. A. B. de C.V.
• Nestle S.A.
• 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.
• Shangai Cristine Foodstuff Co. Ltd
• Yamazaki Baking Co., Ltd
• Monginis Foods Pvt. Ltd
• Koninklijke DSM N.V.
• Associated British Foods Plc

Check out more related studies published by Grand View Research:

• Vegan Baking Ingredients Market - The global vegan baking ingredients market size is anticipated to reach USD 1.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.6% over the forecast period. The growth of the market is attributed to increase in inclination of people towards vegan diet, rise in demand for such products, and continuous research and development in the global market.
• Protein Ingredients Market - The global protein ingredients market size is expected to reach USD 85.5 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.5% from 2021 to 2028. The market is expected to witness significant growth over the forecast period owing to increasing consumer awareness regarding maintaining a healthy diet and leading an active lifestyle.
• Energy Ingredients Market - The global energy ingredients market size is expected to reach USD 36.79 billion by 2030, expanding at a CAGR of 7.4% from 2022 to 2030, according to a new report by Grand View Research, Inc. Increasing consumption of energy-enhancing products and growing health consciousness are some of the factors anticipated to drive the market during the forecast period.

Browse through Grand View Research's Nutraceuticals & Functional Foods Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.