Global Baking Ingredients Market – Size, Share, Opportunity, Trend, Forecast, Analysis 2020 – 2030

Market Overview:
The Global Baking Ingredients Market was valued at USD 14,219.7 million in 2021 and it is poised to grow beyond USD 23,602.5 million by the end of 2030; registering a CAGR of 7.1% during the forecast period of 2021-2030.
Bakery ingredients are food commodities that help to preserve freshness, softness, & taste; increase shelf-life, and increase the protein content in the baked foods. Baking ingredients such as enzymes, emulsifiers, leavening agents, and baking powders among others are principally used in the processing of bakery products such as bread, doughnuts, pastries cakes, rolls, and pies, tarts, and others. These items are accessible in various varieties in the market and are recognized as the basic food for human nutrition globally.

Market Dynamics
The global bakery ingredients market is operating in the growth phase in its industry life cycle and it is expected that the market expected to transition towards growth stabilization during the coming decade. The market has witnessed strong growth over the past few years except 2020. Busy life style, chasing and shifting eating habits, and trends for packaged foods are the primary growth drivers in the global bakery food market. Consistent adoption of shelf life products along with need for natural products in the final baked products is developing the growth trajectory of overall product segments.
Fast pace life is leading to changes in culture and routines of population at mass scale in most of the developing nations. Therefore, the demanded for low trans-fat & gluten-free products is rising automatically and is contributing to the growth bakery ingredients market. New function across baking industry are evolving as a result of strong focus as well as investment in research and development. This includes protein-based fat replacements, flavor enhancements, textural improvements, and prolonging the shelf life of products. Bakery ingredients helps maintain the softness, taste, texture, and other aspects in such trends. Evolution such is expected to create massive growth opportunities in the years to come.
On the flip side, factors like regulatory concerns along with replacement of bakery products with cereals, such as oats are challenging the global baking ingredient market growth. Emergence of COVID-19 event has also created havoc and left negative impact on the growth trajectory of the market. Coronavirus have largely but negatively influenced the global bakery ingredients market. Moreover, due to the high demand and low supply trends, the prices of ingredients rises in 2020 to overcome on economic instability. On the contrary, disruptions to the supply chain in shipping could lead to temporary supply crunch, putting upward pressure on prices in the short term.

Market Segmentation
The global Baking Ingredients market segmented into by product type, by application, and by region. Based on type, the market is segmented into enzymes, starch, fiber, colors, flavors, emulsifiers, antimicrobials, fats, dry baking mix, others. Segmentation based on application includes bread, rolls & pies, cakes & pastries, others.

Geographic Analysis:
Regionally, the global Baking Ingredients market is segmented into North America, Europe, Asia Pacific (APAC), and Latin America, Middle East & Africa (LAMEA). Europe dominated the global Baking ingredients market in terms of value and volume, with market share of more than 35% in 2021. Trend for bakery based food, modern eating habits, and fast paced lifestyle have created alternative conventional food; which is recognized as the major growth driver in the region. Moreover, APAC is another promising market for bakery ingredients. As of 2021, the region is accounted for over 20% shares in the global market closely followed by North America. Asia Pacific expected to be the fasted growing region over the forecast period owing to emerging economies such as China and India. Brazil has experienced impressive growth in bakery ingredients market over the last few years.

Competitive Scenario:
Major players operating in the global Baking Ingredients market include Flowers Foods Inc, Hostess Brands LLC, Mckee FoodsCorporation, George Weston Ltd., Grupo Bimbo. S.A.B. de C.V., Uniferm GmbH & Co., Koninklijke DSM N.V, General Mills Inc, Associated British Foods Plc., and others.

Market Segmentation
• By Type
◦ Enzymes
◦ Starch
◦ Fiber
◦ Colors
◦ Flavors
◦ Emulsifiers
◦ Antimicrobials
◦ Fats
◦ Dry baking mix
◦ Others

• By Application
◦ Bread
◦ Rolls & Pies
◦ Cakes & Pastries
◦ Others

• By Region
◦ North America (U.S. | Canada | Mexico)
◦ Europe (Germany | France | Italy | Spain| UK| Rest of Europe)
◦ Asia-Pacific (China | India | Japan | Australia| South Korea| Rest of Asia-Pacific)
◦ Latin America (Brazil | Argentina | Rest of LAMEA)
◦ Middle East & Africa (Saudi Arabia | UAE | Bahrain| South Africa | Rest of MEA)