Baking Ingredients Market - Trends Forecast Till 2028

Market Overview

The global baking ingredients market is estimated at USD 16.6 billion in 2021 and is projected to reach USD 22.3 billion by 2026, at a CAGR of 6.0% from 2021 to 2028.

Bakery ingredients are food products that help maintain freshness, softness, & taste; improve shelf life; and increase the protein content in the baked items. These items are available in different varieties in the market and are considered as the basic food for human nutrition globally. The choice of the ingredients and the compositions determine the flavor & texture of the baked food product.

There has been a spike in demand for baking ingredients, such as baking soda, baking powder, cocoa powder, and other condiments, With the recent influx of international cafe and bakery chains, on-the-go food has become increasingly popular are some of the factors that have supported long-term expansion for Baking Ingredients Market.

The novel coronavirus/COVID-19 pandemic has significantly impacted the whole food and beverages industry, among which the bakery industry was one. This pandemic has resulted in mass production shutdowns and supply chain disruptions, which have also affected the economy.

Regional Analysis

Asia Pacific region is expected to grow at the fastest rate in the baking ingredients market. The tides of the global baking industry are shifting as the North American and European markets are mature and new global regions are emerging with immense growth opportunities. The APAC region is expected to be a dynamic and fast-growing region for the bakery ingredients market in the coming few years.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Cargill
• Archer Daniels Midland Company
• Associated British Foods plc
• Koninklijke DSM N.V.
• Kerry Group plc
• AAK AB

Recent Developments

• In November 2019, Koninklijke DSM N.V. (Netherlands) launched two new solutions, BakeZyme Fresh XL and BakeZyme Master. Developed to address freshness challenges faced by bakers worldwide, these new maltogenic amylase solutions would enable the production of high-quality baked goods.
• In November 2020, the Taste & Nutrition subsidiary of Kerry Group Plc (Ireland) announced that it has reached an agreement to acquire the Canadian company Bio-K Plus International (Canada). This acquisition would expand Kerry’s portfolio of probiotics.

Reasons to Acquire

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• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope