Baking Ingredients Market: an Emerging Market With Promising Growth Potential

The report “Baking Ingredients Market by Type (Emulsifiers, Leavening Agents, Enzymes, Baking Powders & Mixes, Oil, Fats & Shortenings, Starch, Colors & Flavors), Application (Bread, Biscuits & Cookies, Cakes & Pastries, Rolls & Pies), and Region – Forecast to 2022″ Increasing demand for bakery products across regions is projected to encourage manufacturers to invest in various bakery ingredients. According to MarketsandMarkets, the bakery ingredients market is projected to account for a value of USD 16.9 billion by 2022, recording a CAGR of 5.4%.

Baking powder and mixes segment is projected to be the largest contributor in the baking ingredients market during the forecast period

The Baking Ingredients market has been segmented on the basis of type into emulsifiers, leavening agents, enzymes, baking powder & mixes, Oils, fats, and shortenings, starch, and colors & flavors. The market for baking powder and mixes is projected to record the higher market share between 2017 and 2022. Baking powder is a mixture of baking soda, powdered acid, and cornstarch. It is used as a leavening agent that consists of sodium bicarbonate and the flavor saving acid that is used for increasing the volume, and lightening the texture of baked products. Baking powder which contains both fast and slow acting acids are known as double acting baking powder while single acting baking powder contains only one acid. Double acting baking powder is most commonly used for cookie dough. Baking mixes constitute various ingredients such as flour, baking powder, baking soda, yeast, sugar, and salt. Baking mixes are used for applications such as bread, cakes, waffles, muffins, and pizza crusts.

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Growing demand for bakery ingredients drive prospects for bread and cookies in the Baking Ingredients market

The Baking Ingredients market is segmented on the basis of application into breads, biscuits & cookies & biscuits, cakes & pastries, rolls & pies, and others which include pizza bases, donuts, tortillas, pretzels, scones, and cereals. Commercial bakers are the key buyers involved in the production of fresh & frozen bread, bread rolls and other fresh bakery products. These bakeries purchase bakery ingredients from ingredient manufacturers and procure flour directly from millers. These establishments sell their products through supermarkets, food service outlets, convenience stores, small retail outlets, and specialty stores. Some of these commercial bakeries also produce private label products in addition to the available private label brands sold by large-scale retailers.

Europe is projected to account for the largest market size during the forecast period

Europe accounted for 33.8%, the largest share of the baking ingredients market in 2016. Factors such as a large population and the subsequent increase in demand for baked food, and the usage of advanced technologies for producing varieties of baked foods in order to meet the changing demand of consumers are driving the European baking ingredients market. The market in the Asia-Pacific region is projected to grow at the highest CAGR of 6.5% during the forecast period, driven by the growing demand for leavening agents, emulsifiers, and fats & shortenings in major baking applications such as bread and biscuits & cookies. North America was the second-largest market and accounted for a 28.3% share in 2016.

Growing substitution of baked products with cereals to affect baking ingredient prospects

As a result of the health-conscious approach of consumers, manufacturers are constantly searching for alternative ways to develop low-calorie products. Consumers are looking to cut down their sugar, fat, and bread consumption. Hence, they prefer healthy snacks, granola bars, and cereal. The growing substitution of baked goods with cereals and other options is difficult to counter unless there are nutritious and innovative products in the bakery ingredients category. To meet this challenge, many baking ingredient manufacturers have introduced numerous high-fiber additives as ingredients in a variety of foods, especially baked products, to satisfy consumer demand for increased fiber content in foods.

Leading players operating in the bakery ingredients market include Corbion N.V. (Netherlands), Associated British Foods plc (UK), British Bakels Limited (UK), Royal DSM N.V. (Netherlands), and AarhusKarlshamn (Sweden). Key players are adopting strategies such as product innovations and new product developments to enhance their brand image across regions.

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All in all, the bakery ingredients market is projected to record moderate growth during the forecast period. Manufacturers focus on offering low-fat bakery products to align with the requirements of health-conscious customers. Also, an increasing number of events has encouraged the purchase decisions of consumers for bakery and confectionery products. These factors are projected to contribute to the growth of the market.