Bakery Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Bakery Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global bakery ingredients market size reached US$ 15.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

Bakery ingredients refer to food products that are used to improve and maintain the freshness, aroma, taste and shelf-life of baked food products. These ingredients are usually available in the form of emulsifiers, fats, shortenings, blends, colors, flavors, etc., which are used for the preparation of a wide range of bakery and confectionary products such as bread, biscuits, pies, cakes, pastries, etc. The choice of these ingredients and their compositions determine the texture and flavor of the baked product. They also enhance the nutritional content of the product as they are rich in various amino acids, vitamins, carbohydrates and fats. Bakery ingredients find wide applications in the food processing industry as they are readily available, are extremely convenient to use and blend well with other food ingredients.

The increasing demand for convenience food products is one of the key factors driving the growth of the market. Owing to the hectic schedules and changing dietary habits, there has been a rise in the consumption of bakery products across the globe. Furthermore, rising nutritional awareness among consumers and the availability of organic ingredients have further favored the market growth. Fueled by the thriving tourism and hospitality industry, there is a growing product demand for bakery ingredients from various fast food restaurants, bakeries and hotels. Also, the rising trend of social gatherings, corporate parties and related special and festive occasions has led to an increased demand for cakes and pastries. Other factors, including the use of attractive packaging and various product innovations, such as the development of emulsifiers that offer high-fat stability, water and oil holding capacity and longer shelf-life, are also contributing to the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global bakery ingredients market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type, application and end use sector.

Breakup by Product Type:

Emulsifiers
Leavening Agents
Enzymes
Baking Powder & Mixes
Oils, Fats, and Shortenings
Colors & Flavors
Starch
Others

Based on the product type, the market has been segmented as emulsifiers, leavening agents, enzymes, baking powder & mixes, oils, fats and shortenings, colors & flavors, starch, and others. Amongst these, baking powder & mixes are the most widely used ingredients.

Breakup by Application:

Breads
Cookies & Biscuits
Rolls & Pies
Cakes & Pastries
Others

On the basis of the application, the market has been segregated into breads, cookies & biscuits, rolls & pies, cakes & pastries, and others. Currently, most of the ingredients are used for producing breads.

Breakup by End Use Sector:

Industrial
Foodservice
Retail

The report has analyzed the market according to the end use sector, which mainly includes industrial, foodservice and retail sectors.

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

On a regional basis, Europe represents the largest market for bakery ingredients as baked goods are considered staple food in the region. Furthermore, there has been a rise in the demand for wholegrain, additive-free, gluten-free and ancient grain products, which has enabled manufacturers to use different ingredients in the production process. Other major regions include North America, Asia Pacific, Middle East and Africa, and Latin America.

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Cargill, Incorporated, Koninklijke DSM N.V., Kerry Group, Südzucker AB, AAK AB, Associated British Foods, Lesaffre ET Compagnie, Tate & Lyle, PLC Archer Daniels Midland Company, Ingredion Incorporated, Corbion N.V., IFFCO Ingredients Solution, Taura Natural Ingredients Limited, Dawn Foods Products, Inc., Muntons Plc, British Bakels Ltd., Lallemand Inc., Novozymes A/S, and Puratos Group.

Key Questions Answered in This Report

1. What is the size of the global bakery ingredients market?

2. What is the expected growth rate of the global bakery ingredients market?

3. What are the key factors driving the global bakery ingredients market?

4. What has been the impact of COVID-19 on the global bakery ingredients market?

5. What is the breakup of the global bakery ingredients market based on the product type?

6. What is the breakup of the global bakery ingredients market based on the application?

7. What are the key regions in the global bakery ingredients market?

8. Who are the key companies/players in the global bakery ingredients market?