Baking Ingredients Market Size Worth $ 31.18 Billion By 2032 | CAGR: 7.8%

The global Baking Ingredients market size is expected to reach USD 31.18 billion by 2032, according to a new study by Polaris Market Research. The report “Baking Ingredients Market Share, Size, Trends, Industry Analysis Report, By End-Use (Bread, Cakes and Pastries, Cookies and Biscuits, Rolls and Pies, Others); By Product; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing demand for convenient food and consumers' preference for appealing, flavorful, and textured delicacies, coupled with factors like easy accessibility and competitive pricing, are projected to drive the demand for bakery ingredients. The changing retail landscape for bakery products has played a pivotal role in the market's recent expansion. Developed markets in North America and Western Europe have experienced significant consumption rates, especially in categories such as bread, cakes, pies, scones, pastries, biscuits, and cereals. The introduction of fiber has facilitated the trend towards creating healthier alternatives. Moreover, there is a growing emphasis on enhancing the nutritional profile of bakery products, incorporating functional ingredients like omega-3, probiotics, multivitamins, multigrain, and phytosterols to provide additional nutritional value. However, stringent regulations and adherence to international quality standards are expected to pose challenges to the market's growth.

The market is fueled by an increasing desire for premium, genuine, and high-quality ingredients that meet consumers' demands for fresh, nutritious, and delightful baked goods. Consumers are showing a growing interest in the simplicity and sustainability of bakery products, demonstrating curiosity about ingredient quality and origin, as well as health-promoting label claims. This shift has encouraged manufacturers to procure ingredients with superior nutritional and sensory qualities. The recent transition towards more natural and artisanal bakery products has resulted in the embrace of minimally processed baking ingredients. Bakers are placing a heightened emphasis on superior-quality flours and the incorporation of specialty ingredients.

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The shift from traditional home-cooked meals to convenient foods has intensified the need for bakery ingredients in emerging markets. Elements like the embrace of a westernized lifestyle, the prevalence of double-income families, a commitment to healthier living, heightened nutrition awareness, and an increase in disposable income play crucial roles in the escalating expenditure on bakery products and the growth of the baked foods industry. Consequently, this surge is set to stimulate the demand for manufacturers of bakery ingredients. Moreover, the rising consumer preference for nutritional content in baked foods, featuring attributes such as low sugar, whole grains, and zero trans-fat per serving, is adding impetus to the demand for bakery products.

Baking Ingredients Market Report Highlights

• The Baking Powder & Mixes segment secured the highest revenue share in 2023. Serving as a source of proteins, vitamins, and carbohydrates, it is extensively used as a fundamental ingredient in bakery products globally. The increasing consumer awareness of organic products is fostering the heightened popularity of wheat baking powder, known for its lower saturated fat and cholesterol content.
• The Bread segment captured the leading market share throughout the forecast period. Recognized as a staple food in many countries worldwide, its sustained demand growth is attributed to affordability and nutritional value. Shifting consumer preferences have motivated manufacturers to emphasize innovation, aiming to provide baked goods that cater to diverse tastes. In the quest for a significant market share, manufacturers are developing bread with a well-balanced nutritional profile and flavorful characteristics.
• North America held the leading position in the market in 2023. The prevalence of on-the-go food lifestyles in countries like Canada and the U.S. is anticipated to boost demand consistently throughout the forecast period. Bakery manufacturers providing convenient and portable options, such as pocket wraps and rolls, are further propelling this growth. The significant trend of gluten-free food is prominent in the market and is expected to endure during the projected timeframe.
• The global key market players include Aryzta AG, Associated British Foods plc, Bread Talk Co. Ltd, Britannia Industries Ltd, Finsbury Food Group, Flower Foods Inc, General Mills Inc, George Weston Ltd, Goodman Fielder, Grupo Bimbo S.A.B. de C.V, Hostess Brands LLC, Koninklijke DSM V.V, Mckee Foods Corporation, Mondelez International, Monginis Food Pvt. Ltd., Nestle SA, Tiger Brands Company.

Polaris Market Research has segmented the Baking Ingredients market report based on product, end-use, and region:

Baking Ingredients, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Oils, Fats, and Shortenings
• Enzymes
• Preservatives
• Colors & Flavors
• Starch
• Baking Powder & Mixes
• Yeast
• Emulsifiers
• Others

Baking Ingredients, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

• Bread
• Cakes and Pastries
• Cookies and Biscuits
• Rolls and Pies
• Others

Baking Ingredients, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Baking Ingredients Market Report Scope