Baking Ingredients Market Size & Growth Analysis to 2030

The global baking ingredients market size was estimated at around USD 16 billion in 2022 and expected to register a significant CAGR of over 6% during the forecast period from 2023 to 2030. The growing consumption of bakery products around the world coupled with the growing popularity of convenient food is a major factor driving the industry growth. Furthermore, the growing demand for the product in various applications such as bread, cakes, cookies, pastries, etc, is further anticipated to propel the market. Moreover, the changing lifestyle, increasing demand for packaged & convenience food products, and the increasing disposable income per capita are further anticipated to fuel the market growth over the forecast period.

Market Snapshot:

Market Drivers:

Increasing Consumption of Bakery Products: The consumption of bakery products, including bread, pastries, cakes, cookies, and biscuits, has been on the rise globally. Factors such as changing lifestyles, urbanization, and an increasing preference for convenience foods have contributed to the growing demand for bakery products. This increased consumption has driven the demand for baking ingredients.

Changing Consumer Preferences and Dietary Patterns: Consumer preferences and dietary patterns have shifted towards healthier and natural ingredients in bakery products. There is a growing demand for clean label and organic baking ingredients, as consumers are becoming more conscious of their food choices. This has led to the development and introduction of baking ingredients that are free from artificial additives, preservatives, and genetically modified organisms (GMOs).

Product Innovation and Recipe Experimentation: The baking industry has seen significant product innovation and recipe experimentation. Manufacturers and home bakers are constantly exploring new flavors, textures, and ingredient combinations to create unique and indulgent bakery products. This has driven the demand for a wide variety of baking ingredients, including flavorings, extracts, fillings, and decorations.

Growth in the Foodservice Industry: The foodservice industry, including restaurants, cafes, bakeries, and other food establishments, has experienced growth in recent years. As foodservice establishments cater to the increasing demand for bakery products, there is a corresponding demand for baking ingredients in larger quantities. The growth in the foodservice industry has contributed to the overall growth of the baking ingredients market.

Rise in Home Baking and DIY Culture: The popularity of home baking and the do-it-yourself (DIY) culture have increased significantly. More people are engaging in baking as a hobby or for personal enjoyment, especially during special occasions and holidays. This has led to increased demand for baking ingredients at the consumer level. The accessibility of baking recipes and online resources has also facilitated the growth of home baking, further driving the demand for baking ingredients.

Convenience and Time-saving Solutions: There is a growing demand for baking ingredients that offer convenience and time-saving solutions. Ready-to-use mixes, pre-made fillings, and frozen doughs are gaining popularity among consumers and foodservice establishments alike. These convenient baking ingredients allow for quick and easy preparation of bakery products, reducing the time and effort required. The demand for such convenient solutions has positively impacted the baking ingredients market.

Expansion of Distribution Channels and Online Retail: The expansion of distribution channels and the rise of online retail have made baking ingredients more accessible to consumers. Baking ingredients are now available not only in traditional brick-and-mortar stores but also through online platforms. The ease of purchasing baking ingredients online and the availability of a wide range of products have contributed to the growth of the market.

Market Insights:

By product type, the baking powder & mixes segment dominated the global baking ingredients market in the benchmark year

The global baking ingredients market is bifurcated into product type, application, and geography. On the basis of product type, the market is further segmented into baking powder & mixes, emulsifiers, yeast, enzymes, preservatives, and others. The baking powder & mixes segment is expected to dominate the global market with the largest revenue 1/4 market share by 2030. The widespread use of the product in bakery products due to the availability of vitamins, proteins, and carbohydrates is estimated to contribute to segment growth. Furthermore, the rising awareness among consumers regarding organic products and the increasing use of wheat baking powder due to its lower cholesterol and saturated fat are further anticipated to propel the segment growth over the forecast period.

By application, the bread segment is estimated to largest revenue share of the market by the end of the analysis period

On the basis of application, the market is segmented into bread, cakes & pastries, cookies & biscuits, and others. The bread segment dominated the global baking ingredients market in 2022 and is estimated to hold the largest revenue share of around half of the market by the end of the analysis period. The higher consumption of bread due to its affordability and greater nutritional content is a primary factor driving the segment growth. On the flip side, the cakes & pastries segment is estimated to register the fastest growth rate over the forecast period. The increasing demand and growing availability of cakes & pastries are one of the prominent factor fueling the segment growth.

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The baking ingredients comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2023 to 2030. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The baking ingredients market research report presents the analysis of each segment from 2020 to 2030 considering 2022 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2023 to 2030.

Historical & Forecast Period

• 2020-21 – Historical Year
• 2022 – Base Year
• 2023-2030 – Forecast Period

Market Segmentation:

By Product Type:

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

By Application:

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

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

By region, North America is accounted to hold the largest revenue share in the benchmark year

On the basis of region, North America dominated the global baking ingredients market in 2022 and is expected to hold a significant revenue share of around 1/4 market share by the end of the analysis period. The increasing consumption of convenience food and ready-to-eat food products, and the growing demand for gluten-free food products are some major factors driving the market growth in the region. On the flip side, the Asia Pacific is estimated to register the highest CAGR over the forecast period. Improving lifestyle, growing population, rising adoption of western food products, and growing disposable income are some prominent factors fueling the market growth in the Asia Pacific.

Geographically, the baking ingredients market report comprises dedicated sections centering on the regional market revenue and trends. The baking ingredients market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The baking ingredients market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Baking ingredients market estimates have also been provided for the historical years 2020 & 2021 along with forecasts for the period from 2023 – 2030.

Competitive Assessment:

Some of the major market players operating in the global baking ingredients market are Flower Foods Inc., Hostess Brands LLC, George Weston Ltd., Grupo Bimbo S.A.B. de C.V., and Nestle SA. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Flower Foods Inc.
• Hostess Brands LLC
• George Weston Ltd.
• Grupo Bimbo S.A.B. de C.V
• Nestle SA
• Finsbury Food Group
• Aryzta AG
• Britannia Industries Ltd.
• Tiger Brands Company
• Goodman Fielder
• Uniferm GmbH & Co.

Key Questions Answered by Baking Ingredients Market Report

• Global baking ingredients market forecasts from 2023-2030
• Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
• Baking ingredients submarket forecasts from 2023-2030 covering the market by product type, application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level baking ingredients markets from 2023-2030
• Competitive Landscape and market positioning of top 10 players operating in the market