Bakery Ingredients Market 2023 – 2030 by Application (Bread, Cookies & Biscuits, Rolls & Pies, Cakes & Pastries, and Others), Type (Enzymes, Starch, Fiber, Colors, Flavors, Emulsifiers, Antimicrobials, Fats, Dry Baking Mix, and Others) - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Industry : FMCG | Pages : 168 Pages | Published On : Dec 2023
The valuation of the Global Bakery Ingredients Market was $12,960.0 million in 2022, and it is projected to reach $22,592.6 million by 2030, growing at a CAGR of 5.6% from 2023 to 2030.
Bakery ingredients are food products that play a crucial role in maintaining freshness, softness, and taste, as well as improving the shelf life and protein content of baked items. They are available in various varieties and are considered essential for human nutrition worldwide. The choice and composition of ingredients determine the flavor and texture of baked goods. The demand for products like bread and biscuits is increasing significantly, providing lucrative growth opportunities for the global ingredients market during the forecast period. In mature bakery ingredient markets such as North America and Europe, there is a growing demand for ingredients that offer health benefits and contain fewer artificial constituents.
Several factors drive the global bakery ingredients market. The busy life and changing dietary habits result in higher consumption of bakery products. Additionally, cultural and life changes in developing nations, along with the demand for low trans-fat and gluten-free products, foster the market's growth. The rising rates of obesity and increased concerns about fitness have also fueled the demand for healthier bakery food products. However, the growing trend of substituting baked goods with cereals like oats may hinder the market's growth. Moreover, stringent regulations and the implementation of international quality standards are expected to restrain market growth. Nevertheless, the potential market for frozen bakery foods and the proactive efforts of key players to reduce production costs and extend the shelf life of products present lucrative opportunities for the growth of the bakery ingredients market.
The global bakery ingredients market has been significantly impacted by the COVID-19 pandemic, leading to negative effects. Additionally, the market has experienced price increases in 2022 due to high demand and low supply, driven by economic instability. However, disruptions in the shipping supply chain could temporarily cause shortages, resulting in upward pressure on prices in the short term.
- Rolls & Pies
- Cakes & Pastries
- Dry baking mix
Based on the analysis of the bakery ingredients market, the market is categorized into different types, including enzymes, starch, fiber, colors, flavors, emulsifiers, antimicrobials, fats, dry baking mix, and others. In terms of application, it is segmented into bread, cookies & biscuits, rolls & pies, cakes & pastries, and others. Geographically, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, United Arab Emirates, South Africa, Saudi Arabia, and rest of LAMEA).
The dry baking mix segment held the largest market share in 2022, accounting for approximately 18.4% of the overall market revenue. Fats play a crucial role in retaining gases during baking, ensuring richness, flavor, and moisture in bakery products. Emulsifiers act as intermediaries between oil and water, preventing their separation and enhancing dough conditioning and shelf life. This segment is expected to witness significant growth during the forecast period.
In terms of application, the bread segment dominated the bakery ingredients market in 2022. Bakery ingredients are used in bread-making to enhance aroma, taste, and dough conditioning. Cookies & biscuits, popular snacks among the youth due to their taste, texture, and health benefits, held the second-largest market share in 2022.
Europe emerged as the leading region in the global bakery ingredients market, registering a CAGR of around 5.3% during the forecast period. The Asia-Pacific region exhibits high growth potential and a significant market share. North America secured the second-largest market share in 2022 due to the substantial consumption of bakery products in the region.
To expand their market share, increase profitability, and maintain competitiveness, players in the market have implemented strategies such as business expansion and product launches. Key players in the market include Archer-Daniels-Midland Company, Associated British Foods Plc., Cargill Incorporated, E. I. Du Pont De Nemours and Company, Ingredion Incorporated, Kerry Group, Plc., Koninklijke DSM N.V., Dawn Food Products, Inc., Bakels Group, and Lallemand Inc. Other players in the value chain include Sdzucker, Taura Natural Ingredients Ltd., AAK AB, Tate & Lyle PLC, Corbion N.V., IFFCO Corporate, CSM Bakery Solutions, Novozymes, and Puratos Group.
Key benefits for stakeholders
- The report offers a quantitative analysis of the current trends in the bakery ingredients market, along with estimations and dynamics of the market size from 2023 to 2030. Its objective is to identify the prevailing opportunities within the bakery ingredients market.
- Porter's five forces analysis is utilized to highlight the influence of buyers and suppliers, enabling stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- Through in-depth analysis and segmentation, the report assists in determining the market potential of bakery ingredients. Additionally, the major countries in each region are mapped based on their revenue contribution to the market, providing a comprehensive understanding of the market landscape.
- The market player positioning segment within the report facilitates benchmarking and offers a clear understanding of the current position of market players within the bakery ingredients industry.
Table and Figures
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