Global Baking Ingredients Market: Snapshot
Baking ingredients or items that are used in order to make baked goods. These ingredients are used not only for enhancing the look of the item but also give flavour and texture to these items. In the last few years the demand for a statically crafted baked items have increased manifolds and this has booster the consumption of baking ingredients. With baked items becoming an important part of the daily diet of many people, the demand for baking ingredients is rising. Evolving lifestyles, changing food habits, product innovation and increasing disposable income have led to an increase in the consumption of baked goods, convenience foods, and functional foods. With increasing busy lifestyles of people, there is a rise in the preference for eating Ready-to-Eat meals, convenient snacks such as wraps and sandwiches and this the demand for baking ingredients further. It is anticipated that the global baking ingredients market will be worth US$18.1 bn by 2024.
Growing Demand for Pizzas, Pastries, and Buns Boosting Growth of Baking Ingredients Market
One of the key factors boosting the growth of the global baking ingredients market is the rising spending capabilities of the youth today. This is helping them to increasingly afford pizzas, pastries, buns, pies, cupcakes, cakes and other big items. This will subsequently drive the growth of the global baked ingredients market. Today there is a high demand for nutritional and healthy ingredients in baked Foods including use of whole grains, zero trans fat, low sugar and low cholesterol. This demand for healthy ingredients comes from the fact that obesity and diabetes have become increasingly common among people across the globe today. Another important factor which bodes well for the growth of the baking ingredients Market is the shifting consumer preference from traditional home cooked meals to ready to eat in convenience Foods. The growing trend of adopting Western culture and lifestyle is also having a positive impact on the baking ingredients market.
Increasing Incidences of Diabetes and Obesity to Deter Consumption of Baked Items, Affecting Market
The rapid increase in the incidence of diabetes and obesity are making consumers wary of eating outside food such as pizzas, cakes, cupcakes, breads, pies, donuts, pastries, and cookies. Consumers are becoming health conscious and turning to healthier products such as old and other cereals. This is anticipated to pose a challenge to the growth of the global baking ingredients market. Rising health consciousness and awareness about consuming a balanced nutritional diet are compelling people to cook healthier meals at home. The market is also expected to be challenged by strengthen regulations and implementations of international quality standards.
Demand for Flavour and Colour Additives to Witness Rapid Increase in Future
In terms of type of baking ingredients, such as baking powder, East, baking soda, flour, flavour and colour additives, fats, and sweeteners, it is anticipated the flavour and colour additives what are Witness a rapid increase in demand. The demand for exotic & luxury baked products is anticipated to be behind the growth of the flavour and colour additives segment. In terms of geography, it is anticipated that Europe will lead in the global baking ingredients Market. However it is asia-pacific that will expand at the fastest pace on account of the rising adoption of Western lifestyle and culture by youngsters.
Global Baking Ingredients Market: Overview
The report covers the analysis and forecast of the baking ingredients market on a global and regional level. The study provides historic data of 2015 along with the forecast for the period between 2016 and 2024 based on revenue (US$ Mn) and Volume (Kilo Tons).
The study provides a detailed view of the baking ingredients market by segmenting it based on ingredients, product type, sector and regional demand. On the basis of ingredients, the baking ingredients market has been further segmented into yeast, baking powder and baking soda, flour, sweeteners, flavor & color additives, fats and other types of ingredients. The baking ingredients market has been segregated into bread, biscuits & cookies, cakes & cupcakes, pastries & pie, pizza & buns, bagels & donuts, and others types of products. On the basis of sector the baking ingredients market is segregated into organized sector and unorganized sector.
Global Baking Ingredients Market: Regional Outlook
Regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. These have been further sub-segmented into countries and regions with relevance to the market. The segmentation also includes demand for individual product and applications in all regions.
The competitive profiling of the key players in the global baking ingredients market across five broad geographic regions is included in the study. These include different business strategies adopted by the leading players and their recent developments as in the field of baking ingredients.
A comprehensive analysis of the market dynamics that is inclusive of market drivers, restraints and opportunities is included in the purview of the report. Additionally, the report includes potential opportunities in the baking ingredients market on the global and regional level. Market dynamics are the factors which impact the market growth, thereby helping to understand the ongoing trends of the global market. Therefore, the report provides the forecast of the global market for the period from 2016 to 2024, along with offering an inclusive study of the baking ingredients market.
The report provides the size of the baking ingredients market in 2015 and the forecast for the next nine years up to 2024. The size of the global baking ingredients market is provided in terms of both volume and revenue. Market revenue and volume is defined in US$ Mn and Kilo Tons respectively. The market size and forecast for each product and application segment are provided in the context of global and regional markets. Numbers provided in this report are derived based on demand generated from different applications and types products. Market dynamics prevalent in North America, Europe and Asia-Pacific have been taken into account for estimating the growth of the global market.
Global Baking Ingredients Market: Segmentation
Market estimates for this study have been based revenue being derived through regional pricing trends. The price for commonly utilized quality of baking ingredients in each application and function has been considered. Demand for baking ingredients has been derived by analyzing the global and regional demand for baking ingredients in each application for its respective functions. The global baking ingredients market has been analyzed based on expected demand. Average selling price of baking ingredients products in the major countries has been taken into consideration to estimate regional and global revenue. Forecasts have been based on the expected demand from baking ingredients applications. We have used the bottom-up approach to estimate the global revenue of baking ingredients market, split into regions. We have initially determined the volume and price in every region for the baking ingredients market. Revenue has been determined with the help of volume and price derived from every region.
Based on product type, form type, application and function type, we have summed up the individual revenues from all the regions to achieve the global revenue for baking ingredients. The application split of the market has been derived using a bottom-up approach for each regional market separately, with the global application segment split being an integration of regional estimates. Companies were considered for the market share analysis based on their product portfolio, revenue, and manufacturing capacity. In the absence of specific data related to the sales of baking ingredients of several privately held companies, calculated assumptions have been made in view of the company’s product portfolio and regional presence along with the demand for products in its portfolio.
Key Players Mentioned in this Report are:
The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report are Archer Daniels Midland Company, Cargill Incorporated, Associated British Foods Plc, DSM N.V., Muntons Plc, LALLEMAND Inc., Taura Natural Ingredients Ltd., British Bakels, LFI (U.K.) Ltd., Puratos, CSM Bakery Solutions, and Macphie of Glenbervie Ltd. among others.
Global Baking Ingredients Market: By Geography
Global Baking Ingredients Market: By Ingredients Type
- Baking Powder and Baking Soda
- Flavor & Color Additives
Global Baking Ingredients Market: By Product Type
- Biscuits & Cookies
- Cakes & Cupcakes
- Pastries & Pie
- Pizza & Buns
- Bagels & Donuts
Global Baking Ingredients Market: By Sector
- Organized Sector
- Unorganized Sector
- Rest of Europe
- Rest of Asia Pacific
Middle East and Africa
- North Africa
- South Africa
- Rest of Middle East and Africa
- Rest of Latin America