Global Baking Ingredients Market Overview, 2028

Global Baking Ingredients Market Overview, 2028

Changes in lifestyle are resulting from growing urbanisation, making it harder or impossible to cook. Companies in the food and beverage industry are responding by introducing a variety of baked goods that can be eaten for breakfast or as a snack. Retail bakeries are seeing a rise in the number of one-time purchases of baked goods as a result of the availability of products with longer shelf lives and the ability to store them in freezer conditions. Numerous manufacturers develop novel strategies to preserve the product's freshness over its extended shelf life. The advent of baked items that include freshness and flavour through natural ingredients and enzymes with reduced sugar levels has acquired great acceptance. Natural approaches that restrict mould formation in bakery items have prolonged the product's life while matching client expectations. During the foreseeable term, this will boost industry growth. Indulgent consumption is regularly used by consumers to increase their sense of pleasure and fulfilment. Regardless of their increased health and wellness concerns, individuals continue to select bakery goods such as cakes, pastries, and sweet treats based on taste and enjoyment. Furthermore, individuals want rewarding and exciting events to help them cope with daily stress. Bakery product makers are attempting to make their products more enticing to consumers and to generate hyper indulgence. They specialise in giving multisensory experiences to their customers by utilising bakery decorations, fillings, and inclusions. The most common baking additions are dried fruits, nuts, seeds, chocolate, and confectionery bits. Bakery fillings and inclusions increase the overall texture and sensory and visual appeal of bakery items. Bakery inclusions and fillings are increasingly being added to bakery products to reinvent existing product portfolios, which helps bakers' firms increase revenue. As a result, the growing trend of indulgent consumption and manufacturer innovations to make indulgent bakery items drive the growth of the baking ingredients market.

According to the research report, Global Baking Ingredients Market Overview, 2023–28, published by Bonafide Research, the global baking ingredients market is anticipated to cross USD 25.17 Billion in size by 2028, increasing from USD 18 Billion in 2022. The market is expected to grow at a CAGR of 5.85% by 2023–2028. There has been a shift in consumer lifestyles and preferences towards convenient and ready-to-eat food options. Baking ingredients enable consumers to create homemade baked goods quickly and easily, catering to their desire for fresh and customised products. With the rise of urbanisation, busy lifestyles, and dual-income households, the demand for processed and packaged foods has increased. Baked goods, such as bread, cookies, cakes, and pastries, are convenient and widely consumed products, driving the growth of the baking ingredients market. Furthermore, the popularity of home baking and cooking has been on the rise globally. Many consumers are increasingly interested in creating their own baked goods, seeking creative outlets, and enjoying the satisfaction of homemade products. This trend has fueled the demand for baking ingredients. The bakery and confectionery industries have been expanding globally, driven by factors such as increasing disposable incomes, urbanisation, and the growing foodservice sector. These industries require a steady supply of baking ingredients to meet the demand for a wide variety of bakery products. Based on the product types segment, which includes baking powder and mixes, Leavening agents, Oils, fats, and shortenings, Emulsifiers, Enzymes, Starch, fibre, Preservatives, colours and flavours, sweeteners, and Others, at the global level, baking powder and mixes are the leading segment, and emulsifiers will grow at the highest growth rate. Emulsifiers play a crucial role in improving the texture and shelf life of baked goods. They help create a stable emulsion between water and fat, resulting in a softer and tenderer crumb, increased volume, and improved moisture retention. Emulsifiers also contribute to the extended shelf life of baked goods by reducing staining and maintaining freshness. Consumers have increasingly high expectations for the quality and consistency of baked goods. Emulsifiers help achieve uniformity in texture, appearance, and taste across different batches of baked products. They enable bakers and manufacturers to deliver consistent products that meet consumer expectations.

Based on the form types, which include dry and liquid, at the global level, the dry form type is the leading segment. Dry baking ingredients are versatile and form the foundation of many baked goods. They serve as key components in a wide range of recipes, including bread, cakes, cookies, and pastries. Their versatility allows them to be used in various culinary applications, making them indispensable in the baking industry. Dry baking ingredients are typically easier to handle and store compared to liquid ingredients. They are lightweight, compact, and less prone to spoilage or leakage. This makes them more convenient for transportation, storage, and usage in large-scale manufacturing facilities as well as for home bakers. Based on the application segment, it includes 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. There is a growing demand for cakes and pastries globally, driven by changing consumer preferences, evolving food trends, and increased disposable incomes. Consumers are seeking indulgent and visually appealing desserts for various occasions, including birthdays, weddings, and celebrations. This demand fuels the growth of the cake and pastry segment. The expansion of bakery chains, patisseries, and cafes worldwide has significantly contributed to the growth of the cake and pastry segment. These establishments offer a wide variety of cakes, pastries, and desserts, providing consumers with convenient access to indulgent treats. The growing number of these outlets increases the demand for baking ingredients specific to cake and pastry production, which leads to a surge in demand for baking ingredients in the market.

Based on the report, at the global level, the Europe region holds the highest market share. At the global level, Europe has a long-standing baking tradition deeply embedded in its culinary culture. The region is renowned for its artisanal bread, pastries, cakes, and other baked goods. This heritage and expertise have contributed to the growth and development of the baking industry in Europe. Europe has a vibrant foodservice sector, including restaurants, cafes, hotels, and catering companies. The demand for bakery products in the foodservice sector is substantial, fueling the need for baking ingredients. Europe's renowned culinary scene and tourism industry contribute to the strong presence of baking ingredients in the region. Furthermore, European baked goods, including bread, pastries, and cakes, are highly regarded and sought after globally. European countries export a significant amount of baked goods to various regions, further driving the demand for baking ingredients. The export-oriented nature of the European baking industry strengthens its position in the global market.

Recent development
• Cargill released SimPure 92260 soluble rice flour with the same taste, texture and functionality as maltodextrin, a commonly used ingredient in bulking agents and flavors In October 2021. This ingredient has the same quality as maltodextrin and can be used in a variety of applications, including baked goods.

• Cargill will open its first innovation centre in India in January 2021. The 18,000-square-foot innovation centre comprises a sensory laboratory and demonstration kitchen with features for the beverage, bread, dairy, and convenience food businesses.

Considered in this report

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

Aspects covered in this report

• Global 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

Regions & Countries covered in the report:

• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

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.

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