Asia-Pacific Baking Ingredients Market Outlook, 2028

Asia-Pacific Baking Ingredients Market Outlook, 2028

The Asia-Pacific region has witnessed a significant surge in the baking industry, leading to a growing demand for baking ingredients. From traditional delicacies to modern desserts, baking has become a popular culinary trend across countries like China, Japan, India, and South Korea. This article provides insights into the thriving baking ingredients market in the Asia Pacific region, highlighting key factors driving its growth, emerging trends, and market dynamics. Rapid urbanisation, increasing disposable income, and the westernisation of diets have led to a shift in consumer preferences towards bakery products. The rising popularity of bread, cakes, pastries, and cookies has created a strong demand for baking ingredients in the region. The expanding bakery and confectionery industry in the Asia-Pacific region has fueled demand for baking ingredients. From small local bakeries to large-scale commercial operations, the need for high-quality and diverse baking ingredients has significantly increased. Furthermore, Western culinary influences, especially from Europe and the United States, have made their way into the Asian market. The adoption of western-style baking and the popularity of international bakery chains have contributed to the rising demand for baking ingredients. As well, home baking has gained immense popularity in the Asia-Pacific region, driven by social media, cooking shows, and an interest in DIY projects. As more individuals experiment with baking at home, the demand for baking ingredients has soared, including flour, sugar, flavourings, and other essentials. The Asia-Pacific region is a vibrant and diverse market for the baking ingredient industry. With its rich culinary traditions, rising consumer disposable income, and growing urbanisation, the demand for high-quality baking ingredients has been soaring in this region. From the bustling markets of China to the bustling street food scene in India and the sophisticated patisseries of Japan, the Asia-Pacific region offers a myriad of opportunities for players in the baking ingredients market. One of the driving forces behind the growth of the baking ingredients market in the Asia-Pacific region is the rising disposable income of consumers. As personal incomes continue to rise, consumers are willing to spend more on indulgent food items, including baked goods. This has led to a surge in demand for premium baking ingredients, such as high-quality flours, specialty sugars, premium chocolate, and exotic flavourings.

According to the research report Asia Pacific Baking Ingredients Market Outlook, 2028, published by Bonafide Research, the Asia Pacific Baking Ingredients market is expected to grow at a 7.68% CAGR by 2023–28. The influence of Western culture on Asian cuisine has also played a significant role in shaping the baking ingredient market in the region. Western-style bakeries, cafes, and patisseries have gained popularity, leading to an increased demand for baking ingredients traditionally used in Western recipes. This has created opportunities for both local and international baking ingredient manufacturers to cater to the evolving tastes and preferences of consumers. Furthermore, the growth of the bakery and confectionery sectors in the Asia-Pacific region has contributed to the expansion of the baking ingredient market. Increasing consumer interest in artisanal bread, pastries, cakes, and cookies has driven the demand for a wide array of baking ingredients, ranging from basic staples like flour and sugar to specialty ingredients like yeast, emulsifiers, and natural flavourings. The foodservice sector, including cafes, bakeries, and restaurants, plays a crucial role in driving the demand for baking ingredients. The increasing number of food establishments and the demand for high-quality baked goods have created opportunities for ingredient manufacturers to supply the foodservice industry. As well as the rise of social media platforms, cooking shows, and online recipe resources, home baking has fueled the trend in the Asia-Pacific region. More individuals are engaging in baking as a hobby or for home consumption, leading to an increased demand for baking ingredients and baking mixes. Based on the product types, the segment includes baking powder and mixes, Leavening agents, Oils, fats, and shortenings, Emulsifiers, Enzymes, Starch, Fibre, Preservatives, Colours and flavours, sweeteners, and Others. Among all the Baking powder has the highest market share in the Asia-Pacific region. The influence of Western-style baking, particularly from Europe and North America, has significantly impacted the baking industry in the Asia-Pacific region. Baking powder is a key ingredient in many Western recipes, and as consumers embrace Western baking trends, the demand for baking powder has grown. The expanding bakery sector in the Asia-Pacific region has contributed to the high demand for baking powder. Bakeries require a consistent and reliable leavening agent to produce a wide variety of baked goods in large quantities. Baking powder offers a convenient solution for commercial bakers, enabling them to maintain quality and efficiency.

Some regions within the Asia Pacific face challenges in terms of logistics and infrastructure, which can affect the availability and distribution of baking ingredients. This can impact the reach and timely delivery of products, especially in remote areas. The diversity of cultures and culinary traditions in the Asia-Pacific region may pose challenges in terms of adapting baking ingredients to suit local preferences and incorporating local ingredients into international baking recipes. Furthermore, Compliance with food safety regulations and standards can be a restraint for baking ingredient manufacturers. Stringent regulations require adherence to quality control, labelling, and packaging standards, which may vary across countries in the Asia-Pacific region. The baking ingredients market in the Asia-Pacific region is competitive, with both local and global players vying for market share. Established players and the entry of new competitors can pose challenges in terms of market penetration and differentiation. The Asia-Pacific region has a large and rapidly growing population, providing a vast consumer base for the baking ingredients market. Rising disposable incomes, urbanisation, and changing consumer preferences towards bakery products present significant opportunities for market expansion. Furthermore, the influence of Western culture, including the popularity of Western-style bakery products, has led to an increased demand for baking ingredients in the Asia-Pacific region. Consumers are seeking a diverse range of baked goods, creating opportunities for ingredient manufacturers to introduce new products and flavours. The increasing focus on health and wellness presents opportunities for baking ingredient manufacturers to develop and promote healthier alternatives. This includes the use of natural and organic ingredients, low-sugar or sugar-free options, gluten-free alternatives, and fortification with functional ingredients.

Based on the application types of the segment, which include bread, cookies and biscuits, rolls and pie, cakes and pastries, and others (Waffles, brownies, Crackers, tarts, Croissants, Pancakes, Donuts, etc.), in the future, the cake and pastry segment will grow at the highest growth rate. The tourism industry in the Asia-Pacific region has seen significant growth, attracting visitors from around the world. As a result, there is an increased demand for international cuisine, including cakes and pastries, to cater to the preferences of tourists. This has led to the expansion of bakery offerings and the growth of the cake and pastry segment. As well as the proliferation of cafes and bakeries across the Asia-Pacific region, this has significantly contributed to the growth of the cake and pastry segment. These establishments offer a wide range of cake and pastry options, providing consumers with convenient access to indulgent treats for both dine-in and takeaway purposes. Based on the form types segment, which includes dry and liquid, in the Asia-Pacific region, the dry form is the leading segment.

China has the highest market share among Japan, India, Australia, and South Korea due to China's rapidly growing middle class and rising disposable income levels, which have resulted in increased spending on food and indulgent products. This includes a growing demand for baked goods and baking ingredients as consumers have more purchasing power to afford these products. The ongoing urbanisation in China has led to a rise in convenience-oriented lifestyles, with consumers seeking convenient and ready-to-use baking ingredients. This has created a demand for pre-mixes, ready-made dough, and other baking ingredients that simplify the baking process. The Chinese government has been actively promoting the development of the food industry, including the bakery and confectionery sectors. Various initiatives and policy changes aimed at stimulating the growth of the food industry have contributed to the expansion of the baking ingredient market.

Companies covered in this report
The Archer-Daniels-Midland Company, Royal DSM N.V., Caldic B.V., Kerry Group plc, BASF SE, Lallemand Inc., Dohler Group SE, Corbion N.V., Associated British Foods plc, Ingredion Incorporated, Cargill, Incorporated, General Mills Inc, Novozymes A/S, AAK, Bunge Limited, Tate & Lyle PLC, Puratos Group, Lesaffre.

Considered in this report

• Geography: Asia Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Asia Pacific Baking Ingredients market with its value and forecast along with its segments
• Region-wise Baking Ingredients market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:

• China
• Japan
• Australia
• India
• South Korea

Products types:

• Baking powder and mixes
• Leavening agents
• Oils, fats, and shortenings
• Emulsifiers
• Enzymes
• Starch
• Fiber
• Preservatives
• Colors & flavors
• Sweeteners
• Others (Nuts and Seeds, Fruit and Vegetable Purees, Citrus Zest, Gelatine, Baking Enhancers, Specialty Flours, Decorative Ingredients, etc.)

By Application:

• Bread
• Cookies & Biscuits
• Rolls & Pies
• Cakes & Pastries
• Others (Waffles, Brownie, Crackers, Tart, Croissants, Pancakes, Donuts, etc.)

By Form:

• Dry
• Liquid

The approach of the report
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Artificial Lawn industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.