The global raising agents market is set to witness growth at a CAGR of 3.1% and top a valuation of USD 43 Bn by 2032.
From past few years, the global bakery industry has been significantly growing and along with this application of raising agents in the bakery industry is also increasing. Yeast, baking soda and baking powder are the key types of raising agents that are significantly used in the baked products such as cakes, cookies, muffins, bread, etc.
Moreover, huge consumer base around the globe are having busy lifestyle due to which they don’t have much time for timely eating thus they are opting for convenience food products. Thus the demand for convenience food products is increasing which is expected to propel growth to the raising agents market.
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Key Takeaways from Market Study
- The raising agents market is expected to be valued at USD 31 Bn in 2021 and it is expected to grow with CAGR of 3.1% in the forecasted period and reach market value of USD 43 Bn in year 2032.
- Among the Product Type segment cream of tartar is expected to dominate the market holding nearly 60% of the overall market. Along with this baking soda segment is also expected to grow with CAGR of 3.2% over the forecasted period.
- Among the application segment, the confectionary products is dominating the application segment and it is expected to grow with a CAGR of 3.9% and expected to hold significant market share in the market.
- Among distribution channel segment, direct sales and wholesales is expected to dominate the market with market value of nearly USD 14.6 Bn.
“As the raising agent is effectively used in the confectionary products thus with increasing market for confectionary products the raising agents market will also propel growth” says a Future Market Insights analyst.
Competitive Landscape
Some of the key players involved in the raising agents market are Kraft Heinz, Guangxi Forise Yeast, Sunkeen, Lesaffre, AB Mauri, Lallemand, Angel Yeast, Solvay, Natural Soda, Berun and many others. These key are majorly focusing on research & development activities in order to enhance the quality and variety of their product offerings and also to develop innovative products.
Along with this the demand for clean label food products is also gaining traction. Understanding this growing popularity the key players in the raising agents market are investing high amount in the manufacturing of biological and natural food raising agents.
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global raising agents market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Region :
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
Product Type :
- Baking Powder
- Baking Soda
- Cream of Tartar
- Organic Agents
- Others
Sales Channel :
- Direct Sales & Wholesalers
- Modern Grocery Retailers
- Independent Grocery Retailer
- Non-Store Retailers
Application :
- Bakery Products
- Confectionery Products
- Biscuits and Crackers
- Packaged Food Products
- Fried Food Products
- Other Food Products
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