Baking Ingredients Market: Europe Accounted For The Largest Market Share Followed by North America and Asia-Pacific
The baking ingredients market is projected to grow at a CAGR of 5.2% from 2015 to reach a projected value of USD 15.19 Billion by 2020. The market growth is driven by growing customer demand for healthier foods, convenience foods, and functional baked goods. The market is further driven by factors such as demand for gluten-free foods and innovative product developments for improved baking ingredients such as modified starch, enzymes, emulsifiers, baking powders & mixes that can be cost-effective as well as used in a wide range of baked items.
Based on the types of ingredients used, the baking ingredients market is led by the baking powders & mixes segment, followed by the oils, fats & shortenings segment in terms of value. In terms of volume, the market was led by the starch segment. Baking ingredients are used on a large scale in regions where there is high per capita consumption of bread and other baked goods.
Among the varied applications for baking ingredients, such as bread, biscuits & cookies, cakes & pastries, rolls & pies, bread accounted for the largest market share, followed by cookies & biscuits and cakes & pastries. Breads are widely consumed in European countries and are making their way into regular diets in most developing Asian and Latin American countries.
Europe accounted for the largest market share for baking ingredients, followed by North America and Asia-Pacific. Baking ingredients such as baking powder, baking mixes, leavening agents, and enzymes are among the most widely used ingredients in Europe; high per capita consumption of bread was one of the major factors driving the baking ingredients market in this region. The Asia-Pacific region is projected to be the fastest-growing market with investments from several multinational manufacturers, especially in countries such as China, India, and Japan.
Adherence to international quality standards and government regulations for the usage and quantity of baking ingredients in food products poses one of the restraints for the baking ingredients market. The increasing awareness about the ill effects of consumption of trans-fatty acids on health hinders the growth of the baking ingredients market.
The baking ingredients market is fragmented and competitive, with a large number of players operating at regional and local levels. The key players in the market adopted acquisitions & mergers, new product development, and expansion & investments as their preferred strategies. Prominent players such as Kerry Group plc (Ireland), Royal DSM (The Netherlands), Corbian N.V. (The Netherlands), Associated British Foods (U.K.) and Cargill, Inc. (U.S.) have been profiled in the report.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
This report is targeted at the existing players in the industry, which include food ingredient manufacturers, baked goods manufacturers, food & bakery associations, food ingredient distributors, and research institutions. Key participants in the supply chain of baking ingredients are raw material suppliers, government bodies, distributors, food-commodity exporters related to bakery & confectionery, and end users such as baked goods manufacturers.
This report provides both, qualitative and quantitative analyses of the baking ingredients market, the competitive landscape, and the preferred development strategies of key players. The key players preferred new product development & launches and acquisitions as strategies to gain a larger share in the market. The report also analyzes the market dynamics and market share of leading players.
“The study answers several questions for stakeholders, primarily which market segments to focus on in next two to five years for prioritizing efforts and investments”.
Scope of the Report >>
On the basis of type, the market is segmented as follows:
- Leavening agents
- Baking powder & mixes
- Oils, fats & shortenings
- Colors & flavors
On the basis of application, the market is segmented as follows:
- Biscuits & cookies
- Cakes & pastries
- Rolls & pies
On the basis of region, the market is segmented as follows:
- North America
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