Global Baking Powder Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The global baking powder market is experiencing a growing demand for gluten-free and organic options

• Baking Powder, also known as sodium hydrogen carbonate, is a dry chemical leavening agent, a mixture of a carbonate or bicarbonate and a weak acid. It releases carbon dioxide into a batter or dough through an acid-base reaction, causing bubbles in the wet mixture to expand, thus leavening the mixture. Baking powder is used instead of yeast for end-products where fermentation flavors would be undesirable.
• Baking powder includes components to improve their stability and consistency. It is used to absorb moisture and increases the shelf life of the compound, keeping the powder’s alkaline and acidic components dry do not react with each other prematurely. It is a rich source of vitamins, carbohydrates, and protein essential to baked items.
• The increasing usage of baking powder in the bakery items like cookies, cakes, bread, waffles, pancakes, etc. drives the market. It can be used as a thickener or leavener in baking. It is used to speed up the production of baked goods. It is also widely used in other home and restaurant food items. Also, foods such as nutritional bars, high-fiber breads, and breakfast cereals that utilize baking powder are consumed by health-conscious people, thus driving growth. Thus, driving the growth in the Global Baking Powder Market.
• Bread is an essential item, and it typically targets price-sensitive consumers. Bread-producing companies upgrade their production technique and methods employed to improve the techniques in production to offer nutritional content and better affordability.
• In Personal care products, it is typically used in cleansing the skin as a buffer solution to maintain the stability of the ph. Since it is a mild alkaline, it can help neutralize acidic substances on the skin. It can bind with oils and fats and is also used in hair care products.
• Pharmaceuticals it is used to formulate oral and topical products. It also improves the shelf life and enhances the taste of many drug products. It is also used in mouthwash, chewing gum, toothpaste, etc., as an anti-tartar agent or to mask unpleasant taste in oral products.
• The use of baking soda over baking powder is restraining the growth. As baking soda is a more powerful agent than baking powder, people prefer to use that, as well as many manufacturers. The human body tolerates baking powder containing sodium bi-carbonate, but the substance has side effects that hinder growth. Also, Strict government regulations regarding the quality standard are restraining the growth of baking powder in the market.
• The rise in organic ingredients used in baking reduced costs, increasing the shelf life and maintaining the growth of baking powder in the coming years. Health-conscious people usually opt for Aluminium-free and Phosphate free baking powder leading to growth.
• But, the health concerns regarding the growing consumption of trans-fatty acids might be challenging for the baking powder market.
• Overall, the Global Baking Powder Market will grow at a moderate rate. The market is driven by the food and beverage industry, which is continuously improving and introducing new items, thus driving the demand for baking powder.

Market Segmentations

• The Global Baking Powder Market is segmented based on Type, Form, Applications, Distribution, and Geography.
• By Type, the market is classified into Phosphate, Anhydrous Phosphate, Sodium Aluminium Sulfate Phosphate, Tartarate, Aluminium-free, Phosphate free, and more.
• Tartarate holds a larger market share. It is used as an anti-caking agent and prevents food from lumps formation. It is also primarily used in candy to keep it fresh. These applications have increased the demand in the packaged and processed food categories.
• By Form, the market is classified into Continuous or single-action baking powder and Double-action or multiple-action baking powder.
• Double-action baking powder holds a significant market share. It is mainly used in baked items such as biscuits, waffles, and pancakes. It affects an expansion and subsequent volume building; chemical leavening affects the cake’s pH, crumb texture, and color. Thus, having a higher market share.
• By Distribution, the market is classified into Supermarkets/Hypermarket, Convenience stores, Online platforms, and Specialty stores.
• The Supermarket/Hypermarket and convenience stores have a higher market share. As stores and Hypermarkets/Supermarkets are easily accessible to customers. Due to the rise in Internet usage, online platform sales are forecasted to grow significantly.
• By Applications, the market is classified into Foods (Bakery items), Personal Care, and Pharmaceuticals.
• The Food Industry has a higher CAGR as compared to other industries. It has many applications in processed food (on-the-go and ready-to-eat), batters, bakery items, and other dishes. This industry contributes to a higher market share.
• By Geography, the market is classified into the Americas, Europe, Middle-East & Africa, and Asia-Pacific.
• Asia Pacific is emerging as a higher market share due to demand in the food habits of consumers who are willing to spend on food items such as bread, cookies, waffles, pastries, and many more bakery items. Besides the baking industry, the food service industry is expanding and witnessing growing support in Asia-Pacific, with a strong preference for ready-to-eat and on-the-go food options.

Recent Development

• Ingredion acquired Lesaffre's North American baking powder and baking soda business for $300 million. Lesaffre is a leading global supplier of yeast and other baking ingredients. The acquisition will allow Ingredion to expand its baking powder and baking soda portfolio and strengthen its position in the baking ingredients market. - April 2022
• Solvay acquired Laporte, a leading supplier of baking powder and baking soda. This acquisition gave Solvay a strong presence in the baking powder market, particularly in Europe. - March 2021

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Baking Powder Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Baking Powder Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Baking Powder Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market