Baking Ingredients Market by Type (Emulsifiers, Leavening Agents, Enzymes, Baking Powders & Mixes, Oil, Fats & Shortenings, Starch, Colors & Flavors), Application (Bread, Biscuits & Cookies, Cakes & Pastries, Rolls & Pies), and Region - Global Trends & Forecast to 2020
The baking ingredients market, estimated at USD 11.79 billion in 2015, is projected to grow at a CAGR of 5.2% to reach USD 15.19 billion by 2020. The market is driven by factors such rising per capita consumption of baked goods and product development of innovative baking ingredients that are cost-effective as well as beneficial for heath. The high growth potential in emerging markets and untapped regions provide new growth opportunities for market players.
“Baking powders & mixes accounted for the largest market share in 2014”
Among the types of baking ingredients,—which include emulsifiers, leavening agents, enzymes, starch, oils, fats, & shortenings, colors & flavors, and others—baking powders & mixes accounted for the largest market share, followed by oils, fats & shortenings. Baking powders are used on a large scale for day to day bread preparations in regions where there is higher per capita consumption of baked products. The enzymes segment is expected to grow at the highest CAGR with increasing applications in baked products.
“Bread leads the market with the largest share”
On the basis of application, the baking ingredients market is led by the bread segment, followed by cakes & pastries and cookies & biscuits. These are consumed on a large scale in developing regions as convenience and functional foods due to changing lifestyle trends. Cakes & pastries are the fastest-growing application segments for baking ingredients, particularly in developing Asian economies with greater demand for convenience foods and increasing disposable incomes.
“China: The future of the baking industry”
Increasing demand for convenience foods, functional foods, and baked goods, coupled with the constantly changing lifestyles, has increased the demand for baked products in China and other developing Asian economies. With a rise in disposable income and inclination towards western eating habits, several users are willing to spend on new innovative baked products and incorporate baked items such as breads and rolls in their daily diets.
The U.S. was the largest country-level market for baking ingredients, whereas the market in China is expected to grow at the highest CAGR of 7.0%, in terms of value.
Break-up of Primaries:
By Company Type - Tier 1 – 55 %, Tier 2 – 20% and Tier 3 – 25%
By Designation – C level – 60%, Director level – 25%, Others – 15%
By Region – North America - 10%, Europe – 20%, Asia-Pacific – 40%, RoW – 30%
Leading players such as Royal DSM N.V. (The Netherlands), Corbian N.V. (The Netherlands), Associated British Foods (U.K.), Cargill, Inc. (U.S.), and Kerry Group plc (Ireland) have been profiled in the report. The other players include AAK Limited (U.K.), British Bakels Ltd. (U.K.), Dawn Food Products, Inc. (U.S.), Muntons plc (U.K.), and Taura Natural Ingredients Limited (New Zealand).
Reasons to buy this report:
To get a comprehensive overview of the global baking ingredients market
To gain wide ranging information about the top players in this industry, their product portfolios and key strategies adopted by them
To gain insights about the major countries/regions in which the baking ingredients market is flourishing