+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)
Sale

Baking Ingredients Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type and Application

  • PDF Icon

    Report

  • 168 Pages
  • May 2022
  • Region: Global
  • The Insight Partners
  • ID: 5623607
UP TO OFF until Mar 15th 2023

The baking ingredients market is projected to reach US$ 22,278.10 million by 2028 from US$ 16,444.97 million in 2022; it is expected to grow at a CAGR of 5.2% from 2022 to 2028.



Bakery ingredients include flour, yeast, sweeteners, emulsifiers, flavors, colors, stabilizers, hydrocolloids, and enzymes, among others. With the rapidly evolving health and wellness trends, consumers are becoming concerned about the use of chemical preservatives and synthetic additives in bakery products. This is catalyzing their switch to products with natural preservatives, colors, and flavors. This factor is driving the demand for functional, organic, and clean-label bakery ingredients. Further, people are focusing on their daily intake of nutrients and seek products that may supplement their diet with additional vitamins, minerals, and proteins. Therefore, bakery product manufacturers consider offering products with essential nutrients to cater to the evolving consumer trends. DSM, one of the leading ingredient companies, offers ingredients such as omega-3 powder and vitamin D powder, which can be used in a broad range of bakery applications, including bread, cookies, rolls, cakes, muffins, bagels, and waffles. Thus, rising health and wellness trends are projected to provide new opportunities to the baking ingredients market players in the coming years.

Based on application, the baking ingredients market is segmented into bread & rolls, biscuits & cookies, cakes & pastries, and others. The bread & rolls segment accounted for the largest share of the baking ingredients market in 2021. However, the cakes & pastries segment is expected to register the highest CAGR during the forecast period. Bakery products are often associated with comfort and stress alleviation. Sweet bakery items, particularly cakes, are easily accessible indulgences that can be enjoyed with family and friends. Consumers engage themselves in guilt-free or conscious indulgences to ensure good health and pleasure, at the same time. This factor is expected to drive the growth of the cakes & pastries segment in the coming years.

Based on region, the baking ingredients market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). In 2021, Asia Pacific held the largest share of the market, and the Middle East & Africa is estimated to register the fastest CAGR during the forecast period. The bakery industry in Asia Pacific is rapidly advancing with the growing consumption of convenience food products, rising disposable income levels of people, and the growth of the middle-class population. According to the US Department of Agriculture (USDA), the bakery sector in China is witnessing tremendous growth as retail sales of bakery products accounted for US$ 34 billion in 2020. Thus, the growth of the bakery sector in Asia Pacific is driving the growth of the baking ingredients market across the region.

The key players operating in the baking ingredients market include Cargill, Incorporated; ADM; Associated British Foods Plc.; Koninklijke DSM N.V.; Kerry Group Plc; AAK AB; British Bakels; Corbion; International Flavors & Fragrances Inc.; and Dawn Food Products Inc.; among others. These players are engaged in developing affordable and innovative baking ingredients. For instance, in January 2020, Puratos launched Smoobees, bakery inclusions that enhance the texture and flavor of products. Smoobees, which are available in different flavors, are soft beads that provide a creamy texture to bakery products.

The overall baking ingredients market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights about the topic. The participants of this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants - such as valuation experts, research analysts, and key opinion leaders - specializing in the baking ingredients market.


Frequently Asked Questions about the Global Baking Ingredients Market

What is the estimated value of the Global Baking Ingredients Market?

The Global Baking Ingredients Market was estimated to be valued at $16444.97 million in 2022.

What is the growth rate of the Global Baking Ingredients Market?

The growth rate of the Global Baking Ingredients Market is 5.2%, with an estimated value of $22278.1 million by 2028.

What is the forecasted size of the Global Baking Ingredients Market?

The Global Baking Ingredients Market is estimated to be worth $22278.1 million by 2028.

Who are the key companies in the Global Baking Ingredients Market?

Key companies in the Global Baking Ingredients Market include Cargill, Incorporated, ADM, Associated British Foods plc, Koninklijke DSM N.V., Kerry, AAK AB, British Bakels, Corbion and Dawn Food Products Inc..

Table of Contents

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
4. Baking Ingredients Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. Baking Ingredients Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growth of Bakery Sector
5.1.2 Surging Demand for Organic and Clean-label Bakery Ingredients
5.2 Market Restraints
5.2.1 Increasing Health Concerns
5.3 Market Opportunities
5.3.1 Rising Demand for Functional Ingredients
5.4 Future Trends
5.4.1 Growing Trend of Indulgent Consumption
5.5 Impact Analysis of Drivers and Restraints
6. Baking Ingredients - Global Market Analysis
6.1 Baking Ingredients Market Overview
6.2 Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
6.3 Competitive Positioning - Key Market Players
7. Baking Ingredients Market Analysis - By Type
7.1 Overview
7.2 Baking Ingredients Market, By Type (2021 and 2028)
7.3 Baking Powder & Mixes
7.3.1 Overview
7.3.2 Baking Powder & Mixes: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Emulsifiers
7.4.1 Overview
7.4.2 Emulsifiers: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Enzymes
7.5.1 Overview
7.5.2 Enzymes: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
7.6 Starches
7.6.1 Overview
7.6.2 Starches: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
7.7 Colors & Flavors
7.7.1 Overview
7.7.2 Colors & Flavors: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
7.8 Oils, Fats & Shortenings
7.8.1 Overview
7.8.2 Oils, Fats & Shortenings: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
7.9 Others
7.9.1 Overview
7.9.2 Others: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
8. Baking Ingredients Market Analysis - By Application
8.1 Overview
8.2 Baking Ingredients Market, By Application (2021 and 2028)
8.3 Breads & Rolls
8.3.1 Overview
8.3.2 Breads & Rolls: Baking Ingredients Market- Revenue and Forecast to 2028 (US$ Million)
8.4 Biscuits & Cookies
8.4.1 Overview
8.4.2 Biscuits & Cookies: Baking Ingredients Market- Revenue and Forecast to 2028 (US$ Million)
8.5 Cakes & Pastries
8.5.1 Overview
8.5.2 Cakes & Pastries: Baking Ingredients Market- Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Baking Ingredients Market- Revenue and Forecast to 2028 (US$ Million)
9. Baking Ingredients Market - Geographic Analysis
9.1 Overview
9.2 North America: Baking Ingredients Market
9.2.1 North America: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.2.2 North America: Baking Ingredients Market, By Type
9.2.3 North America: Baking Ingredients Market, by Application
9.2.4 North America: Baking Ingredients Market, by Key Country
9.2.4.1 US: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.2.4.1.1 US: Baking Ingredients Market, By Type
9.2.4.1.2 US: Baking Ingredients Market, by Application
9.2.4.2 Canada: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.2.4.2.1 Canada: Baking Ingredients Market, By Type
9.2.4.2.2 Canada: Baking Ingredients Market, by Application
9.2.4.3 Mexico: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.2.4.3.1 Mexico: Baking Ingredients Market, By Type
9.2.4.3.2 Mexico: Baking Ingredients Market, by Application
9.3 Europe: Baking Ingredients Market
9.3.1 Europe: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.3.2 Europe: Baking Ingredients Market, By Type
9.3.3 Europe: Baking Ingredients Market, by Application
9.3.4 Europe: Baking Ingredients Market, by Key Country
9.3.4.1 Germany: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.3.4.1.1 Germany: Baking Ingredients Market, By Type
9.3.4.1.2 Germany: Baking Ingredients Market, by Application
9.3.4.2 France: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.3.4.2.1 France: Baking Ingredients Market, By Type
9.3.4.2.2 France: Baking Ingredients Market, by Application
9.3.4.3 UK: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.3.4.3.1 UK: Baking Ingredients Market, By Type
9.3.4.3.2 UK: Baking Ingredients Market, by Application
9.3.4.4 Italy: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.3.4.4.1 Italy: Baking Ingredients Market, By Type
9.3.4.4.2 Italy: Baking Ingredients Market, by Application
9.3.4.5 Russia: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.3.4.5.1 Russia: Baking Ingredients Market, By Type
9.3.4.5.2 Russia: Baking Ingredients Market, by Application
9.3.4.6 Rest of Europe: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.3.4.6.1 Rest of Europe: Baking Ingredients Market, By Type
9.3.4.6.2 Rest of Europe: Baking Ingredients Market, by Application
9.4 Asia Pacific: Baking Ingredients Market
9.4.1 Asia Pacific: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.4.2 Asia Pacific: Baking Ingredients Market, By Type
9.4.3 Asia Pacific: Baking Ingredients Market, by Application
9.4.4 Asia Pacific: Baking Ingredients Market, by Key Country
9.4.4.1 China: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.4.4.1.1 China: Baking Ingredients Market, By Type
9.4.4.1.2 China: Baking Ingredients Market, by Application
9.4.4.2 Japan: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.4.4.2.1 Japan: Baking Ingredients Market, By Type
9.4.4.2.2 Japan: Baking Ingredients Market, by Application
9.4.4.3 India: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.4.4.3.1 India: Baking Ingredients Market, By Type
9.4.4.3.2 India: Baking Ingredients Market, by Application
9.4.4.4 South Korea: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.4.4.4.1 South Korea: Baking Ingredients Market, By Type
9.4.4.4.2 South Korea: Baking Ingredients Market, by Application
9.4.4.5 Australia: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.4.4.5.1 Australia: Baking Ingredients Market, By Type
9.4.4.5.2 Australia: Baking Ingredients Market, by Application
9.4.4.6 Rest of Asia Pacific: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.4.4.6.1 Rest of Asia Pacific: Baking Ingredients Market, By Type
9.4.4.6.2 Rest of Asia Pacific: Baking Ingredients Market, by Application
9.5 South & Central America: Baking Ingredients Market
9.5.1 South & Central America: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.5.2 South & Central America: Baking Ingredients Market, By Type
9.5.3 South & Central America: Baking Ingredients Market, by Application
9.5.4 South & Central America: Baking Ingredients Market, by Key Country
9.5.4.1 Brazil: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.5.4.1.1 Brazil: Baking Ingredients Market, By Type
9.5.4.1.2 Brazil: Baking Ingredients Market, by Application
9.5.4.2 Argentina: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.5.4.2.1 Argentina: Baking Ingredients Market, By Type
9.5.4.2.2 Argentina: Baking Ingredients Market, by Application
9.5.4.3 Rest of South & Central America: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.5.4.3.1 Rest of South & Central America: Baking Ingredients Market, By Type
9.5.4.3.2 Rest of South & Central America: Baking Ingredients Market, by Application
9.6 Middle East & Africa: Baking Ingredients Market
9.6.1 Middle East & Africa: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.6.2 Middle East & Africa: Baking Ingredients Market, By Type
9.6.3 Middle East & Africa: Baking Ingredients Market, by Application
9.6.4 Middle East & Africa: Baking Ingredients Market, by Key Country
9.6.4.1 South Africa: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.6.4.1.1 South Africa: Baking Ingredients Market, By Type
9.6.4.1.2 South Africa: Baking Ingredients Market, by Application
9.6.4.2 Saudi Arabia: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.6.4.2.1 Saudi Arabia: Baking Ingredients Market, By Type
9.6.4.2.2 Saudi Arabia: Baking Ingredients Market, by Application
9.6.4.3 UAE: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.6.4.3.1 UAE: Baking Ingredients Market, By Type
9.6.4.3.2 UAE: Baking Ingredients Market, by Application
9.6.4.4 Rest of the Middle East & Africa: Baking Ingredients Market - Revenue and Forecast to 2028 (US$ Million)
9.6.4.4.1 Rest of the Middle East & Africa: Baking Ingredients Market, By Type
9.6.4.4.2 Rest of the Middle East & Africa: Baking Ingredients Market, by Application
10. Impact of COVID-19 Pandemic on Baking Ingredients Market
10.1 Overview
10.2 Impact of COVID-19 Pandemic on Baking Ingredients Market
10.3 North America: Impact Assessment of COVID-19 Pandemic
10.4 Europe: Impact Assessment of COVID-19 Pandemic
10.5 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.6 MEA: Impact Assessment of COVID-19 Pandemic
10.7 SAM: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Cargill, Incorporated
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 ADM
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Associated British Foods plc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Koninklijke DSM N.V.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Kerry
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 AAK AB
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 British Bakels
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Corbion
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 International Flavors & Fragrances Inc.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Dawn Food Products Inc.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About the Publisher
13.2 Word Index

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Cargill, Incorporated
  • ADM
  • Associated British Foods plc
  • Koninklijke DSM N.V.
  • Kerry
  • AAK AB
  • British Bakels
  • Corbion
  • International Flavours & Fragrances
  • Dawn Food Products Inc.