Global Baking Ingredients Market Trend Research Report Information: by Type, Share, Application and Forecast Till 2027
Market Insights:
Baked products are highly popular due to their convenience and the
ongoing innovation in product offerings. As such, baking ingredients are an
essential part of this and Market Research Future's latest report on the global
Baking Ingredients market share has divulged several important details regarding
the growth of the market over the review period from 2018 to 2023. The revenue
generated by the global Baking Ingredients market share in 2017 was recorded at
USD 34.62 Bn. The market has been projected to register a consistent CAGR of
5.2% during the review period from 2018 to 2023, which will likely result in a
market value of USD 44.02 Bn by the end of 2023.
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Convenient food items have been witnessing explosive demand, primarily
due to changing consumer lifestyles. Urbanization and adoption of a number of
advanced technologies have led to busy lifestyles and the resulting demand for
food products of convenience. Moreover, frozen food which is often frozen at
peak freshness has been witnessing increased demand. Among this type of food
are frozen bakery foods which further support the increasing demand for
convenience foods. Market growth is also encouraged by the increased demand for
products low in trans fat as well as gluten-free products which have prompted
market players to expand their product offerings in an effort to tap into the
high demand for bakery products. Healthy options are in high demand as
consumers become more aware regarding food ingredients. Baked products are
expected to witness consistent growth as bread, and other similar items are
staples food items, particularly in certain developed countries. Meanwhile,
changing trends in developing economies are expected to affect the market
positively as the demand for bakery products increases.
Notably, the market's growth is expected to be hampered by the growing
substitution of baked products with whole grain cereals, and the health
consciousness trend continues. However, increasing applications of baking
ingredients and the growth of the frozen bakery products market will likely
yield opportunities in the coming years.
Key Players:
Prominent market participants in MRFR’s global Baking Ingredients market share report include Koninklijke DSM N.V., Roquette Frères, Ingredion
Incorporated, BASF SE, Cargill Incorporated, SunOpta, Omega Protein
Corporation, Archer Daniels Midland Company, and Darling Ingredients Inc.
Market Segmentation:
MRFR's segmentation of the global Baking Ingredients market share has
been done on the basis of product type, application, and region. Product types
have been categorized to include emulsifiers, leavening agents, enzymes, oils,
fats & shortening, colors & flavors, starch, and others. Increasing
preference for products with various flavors and colors have resulted in the
colors and flavors segment acquiring the largest share of the global market.
Meanwhile, the emulsifiers segment is expected to witness the highest growth
over the forecast period.
Applications of Baking Ingredients have been segmented into bread,
cookies & biscuits, rolls & pies, confectionery, and others. Bread
which is among the most consumed bakery item has the most significant share of
the global Baking Ingredients market share, while confectionery is expected to
witness rapid growth at the highest CAGR during the assessment period.
Regional Analysis:
Europe has been recorded as the regional market with a dominant share of
the global Baking Ingredients market share. The regions bakery products market
is truly significant as several countries in the region have many types of
baked products which are local and have considerable demand. The region is home
to several market players of prominence who participate in the market and their
various marketing strategies as well as the high demand for healthy bakery
products is likely to support the European market’s growth over the assessment
period.
Meanwhile, the Asia-Pacific is slated to grow at the fastest pace and
witness a high CAGR during the review period. Consumers in countries such as
China, India, and Japan among others are increasing adopting bakery products in
their diets. Innovation regarding these products in an effort to cater to the
local market has greatly encouraged the growth of the bakery products sector
which in turn has positively impacted demand for baking ingredients.
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NOTE: Our Team of
Researchers are Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
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