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.
Pune, India -- (SBWIRE) -- 01/08/2016 -- 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", the baking ingredients market, estimated to be valued at USD 11.79 Billion in 2015, is projected to grow at a CAGR of 5.2% from 2015 to 2020
Browse 79 market data tables and 50 figures spread through 155 pages and in-depth TOC on "Baking Ingredients Market - Global Trends & Forecast to 2020"
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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.
Ingredients such as enzymes improve protein solubility and reduce bitterness in end products, making enzymes one of the most preferred ingredients in the baking industry. With heavy investment in R&D, new applications such as protein-based fat replacements, flavor enhancements, textural improvements, are emerging rapidly, and prolonging the shelf life of products. Baking ingredients offer several advantages such as reduced costs, volume enhancement, texture, color, and flavor enhancement. Hence, baking ingredients will be viewed as a business opportunity in the next five years. As a result, many multinational players have entered into the production of varied types of baking ingredients.
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Baking powder & mixes to dominate the baking ingredients market
The baking powders & mixes segment accounts for the largest share in the baking ingredients market, followed by oils, fats & shortenings. The enzymes segment is expected to grow at the highest CAGR in terms of value.
Ingredients offering similar functionalities are facing fierce competition due to raw material availability and production costs. For instance, usage of enzymes in baking restricts the growth of emulsifiers in baking applications.
Bread: The most consumed baked product globally
Bread segment accounted for the largest share in the baking ingredients market in terms of both, value as well as volume. However, the cakes & pastries segment is projected to grow at the highest CAGR due to increasing demand from developing economies.
Increasing consumption of baked foods in developed and developing countries to boost the baking ingredients market
Developing economic in the Asia-Pacific, Latin America, Eastern Europe, and the Middle East regions are prospering in terms of increasing GDP with the working population on the rise. There is a noticeable increase in the disposable incomes of consumers in these regions, enabling them to spend more on ready-to-eat products and baked goods. Increasing per capita consumption of bread and other baked goods in this region is another driver for the baking ingredients market.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as Royal DSM N.V. (The Netherlands), Corbian N.V. (The Netherlands), Cargill, Inc. (U.S.), Kerry Group plc (Ireland), and Associated British Foods Limited (U.K.).
The report covers the emulsifiers, leavening agents, enzymes, baking powder & mixes, starch, oils, fats & shortenings, colors & flavors segments in terms of value and volume. In terms of insights, this research report has focused on various levels of analysis industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global baking ingredients market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
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