Baking Ingredients Market Size, Share | Forecast – 2026
As per the report by MarketsandMarkets, the global Baking Ingredients Market size is projected to reach USD 22.3 billion by 2026, at a CAGR of 6.0% during the forecast period, 2021-2026
Chicago, Aug. 08, 2023 (GLOBE NEWSWIRE) — The baking ingredients market is a dynamic and thriving sector within the food industry. It encompasses a wide range of products that are essential for creating various baked goods, including bread, cakes, pastries, cookies, and more. These ingredients not only enhance the flavor, texture, and appearance of baked goods but also play a crucial role in their overall quality and shelf life.
Baking ingredients market in terms of revenue was estimated to be worth $16.6 billion in 2021 and is poised to reach $22.3 billion by 2026, growing at a CAGR of 6.0% from 2021-2026 according to a latest report published by MarketsandMarkets™. The increase in demand for bakery products has significantly increased the demand for baking ingredients. For high-quality professional baking, bakers need large quantities of a handful of ingredients to create everything from muffins and cupcakes to multi-tiered cakes and delicious cookies.
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Baking Ingredients Market Scope:
|Market size value in 2021||USD 16.6 billion|
|Market size value in 2026||USD 22.3 billion|
|Market growth rate||CAGR of 6.0%|
|On Demand Data Available||2030|
|Forecast units||Value (USD Million) and Volume (Thousand Units)|
|Geographies covered||Asia Pacific, Europe, North America, RoW|
|Companies covered||Cargill (U.S.), Archer Daniels Midland Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V. (The Netherlands), Kerry Group plc (Ireland), and AAK AB (Sweden).|
|Research Coverage||This report segments the Baking Ingredients Market based on type, application, and region. In terms of insights, this research report focuses on various levels of analyses-competitive landscape, pricing insights, end-use analysis, and company profiles-which together comprise and discuss the basic views on the emerging & high-growth segments of the dairy alternatives market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.|
Baking Ingredients Market major players covered in the report, such as:
- Cargill (US)
- Archer Daniels Midland Company (US)
- Associated British Foods plc (UK)
- Koninklijke DSM N.V. (The Netherlands)
- Kerry Group plc (Ireland)
- AAK AB (Sweden)
- British Bakels (UK)
- Corbion (the Netherlands)
- IFF (US)
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The research report categorizes the market into the following segments:
Baking Ingredients Market By Type
- Oils, fats, and shortenings
- Baking powder and mixes
- Colors & flavors
- Leavening agents
Baking Ingredients Market By Application
- Sweet Bakery
Baking Ingredients Market By Form
Baking Ingredients Market By Region
- North America
- Asia Pacific
- South America
- Row (Africa and Middle East)
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The key stakeholders in the Baking Ingredients Market include:
- Manufacturers: These are companies that produce a wide range of baking ingredients, including flour, sugar, leavening agents, fats and oils, and other essential components. They develop and innovate new products to meet changing consumer preferences and industry trends.
- Suppliers and Distributors: Suppliers play a vital role in the supply chain by sourcing and distributing baking ingredients to various retailers, wholesalers, and manufacturers. They ensure that the ingredients are available in the right quantities and at the right locations.
- Retailers: Retailers include supermarkets, grocery stores, specialty baking supply shops, and online retailers. They make baking ingredients accessible to consumers by stocking a variety of products from different manufacturers.
- Bakers and Pastry Chefs: Professional bakers and pastry chefs are key stakeholders as they use baking ingredients to create a wide range of baked goods. Their expertise and creativity influence ingredient preferences and usage patterns.
- Consumers: Consumers are at the heart of the baking ingredients market. Their preferences for taste, texture, and health considerations drive demand for specific ingredients and influence market trends.
- Food Industry and Restaurants: Restaurants, cafes, and other foodservice establishments use baking ingredients to create baked goods for their menus. The demand from this sector impacts ingredient procurement and consumption.
- Trade Associations and Regulatory Bodies: Organizations and agencies that set industry standards, regulations, and guidelines ensure the safety and quality of baking ingredients. They play a role in shaping industry practices and maintaining consumer trust.
- Food Scientists and Researchers: These professionals work on developing new baking ingredients, improving existing products, and researching innovative techniques that enhance the quality and nutritional value of baked goods.
- Packaging Companies: Packaging is crucial for preserving the freshness and quality of baking ingredients. Packaging companies provide solutions that maintain the integrity of ingredients throughout their shelf life.
- Marketing and Advertising Agencies: These entities contribute to creating awareness and promoting baking ingredients through marketing campaigns, advertisements, and branding strategies.
- Wholesalers and Distributors: Wholesalers acquire baking ingredients in bulk from manufacturers and supply them to retailers and smaller businesses, ensuring a smooth distribution network.
Baking Ingredients Market Frequently Asked Questions (FAQs):
Q1. What is the projected market value of the global Baking Ingredients Market?
Q2. What is the estimated growth rate (CAGR) of the global Baking Ingredients Market for the next five years?
Q3. What are the major revenue pockets in the baking ingredients market currently?
Q4. Which are the key players in the market, and how intense is the competition?
Q5. What kind of information is provided in the competitive landscape section?
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This report provides insights on the following pointers:
- Consumer Demand for Healthier Options: There is a growing trend among consumers towards healthier baked goods. This has led to increased demand for baking ingredients that are natural, organic, gluten-free, and low in sugar and artificial additives. Manufacturers are responding by developing and promoting healthier alternatives to traditional baking ingredients.
- Innovation and Customization: Bakers, both professionals and home enthusiasts, are seeking innovative and unique baking experiences. This has driven the market to offer a wider range of specialized baking ingredients, such as exotic flavorings, unique flours, and gourmet chocolate varieties. Customization options allow bakers to create distinctive products.
- Plant-Based and Vegan Ingredients: The rise of plant-based diets has influenced the baking ingredients market. Demand for plant-based alternatives to eggs, dairy, and other animal-derived ingredients has led to the development of innovative plant-based baking solutions, appealing to vegans and those with dietary restrictions.
- Sustainability and Ethical Sourcing: Consumers are increasingly concerned about the environmental and ethical impact of their food choices. This has prompted ingredient manufacturers to focus on sustainable sourcing, transparent supply chains, and eco-friendly packaging, aligning with conscious consumer values.
- Online Presence and Social Media Influence: The popularity of social media platforms and online baking communities has significantly impacted the market. Home bakers often share their creations and recipes, driving interest in specific ingredients and influencing trends. Ingredient manufacturers and retailers are leveraging these platforms to engage with consumers directly.
- Globalization and Culinary Exploration: Increased cultural exchange and global connectivity have led to a rise in interest in international baked goods. As a result, there’s a growing demand for exotic ingredients and traditional flavors from around the world, driving diversity in the baking ingredients market.
- Convenience and Time-Saving Solutions: Busy lifestyles have led to a demand for convenient baking solutions. This includes pre-mixed baking ingredient blends, ready-to-use dough, and baking kits. These products cater to consumers looking for quick and hassle-free baking experiences.
- Clean Label Movement: Consumers are seeking transparency in ingredient lists and are favoring products with “clean labels” – those with minimal and recognizable ingredients. This has prompted manufacturers to reformulate recipes and eliminate artificial additives.
- Educational Initiatives: Ingredient manufacturers and retailers are investing in educational content to empower both amateur and professional bakers. This includes online tutorials, recipe blogs, and workshops that showcase the versatility and proper usage of different baking ingredients.
- Health and Wellness Trends: The intersection of baking and health-consciousness has led to the incorporation of functional ingredients like seeds, nuts, ancient grains, and superfoods. These ingredients not only add nutritional value but also cater to consumers seeking added health benefits.
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With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five)
- Further breakdown of the Rest of Asia Pacific baking ingredients market -Thailand, Malaysia, and Singapore
- Further breakdown of the Rest of Europe market – Ireland, The Netherlands, Sweden, Turkey, and Belgium
Further breakdown of the Rest of South America into Peru, Chile, and Colombia.
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