The global bakery ingredients market is expected to accumulate a value of US$ 33.3 billion by 2032, scaling up from US$ 17.9 billion in 2022. The target market is estimated to register an optimistic CAGR of 6.4% from 2022 to 2032. A healthy surge in food sales, expanding food and beverages sector along with online delivery options have amplified the demand for baked goods which, in turn, drives the market for bakery ingredients during the forecast period.
The bakery ingredients market is witnessing substantial growth as the demand for diverse bakery products expands globally. With changing consumer preferences and a rise in health-consciousness, there is a surge in demand for natural and functional ingredients. Innovation and the incorporation of premium ingredients are driving the growth of the bakery ingredients market.
Baking flours, cake premixes, culinary extracts, food colouring, fondant, and many more are essential products for bakeries. Due to rising food sales and an increase in the number of cafes, restaurants, and bakeries, demand for these items has increased during the past few years. Due to the rapid development of the online meal delivery option in recent years, bakeries may now operate around the clock and serve food.
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This has resulted in the market being more open to new experiments, materials, and procedures. As the market is now more open to experiments and new procedures, demand for bakery ingredients is anticipated to grow tremendously over the upcoming years. Bakery experiments also spur the demand for new ingredients which bodes well for the market. These aspects stimulate growth for the bakery ingredients market which accounts for about 35% of the food additives market.
In addition to the experiments and demand for new ingredients, the demand for essential baking ingredients for everyday baking also witnessed significant growth in the target market. These basic baking ingredients include different flour such as basic flour, whole wheat flour, whole grain flour, cake flour, pastry flour, self-rising flour, cornmeal, cornstarch, and bread flour, among others.
Food additives like preservatives and enzymes have the capacity to extend the shelf life of baked goods for a longer period of time when stored under specific conditions. Hence, food additives also experience high demand as bakery ingredients as they enable baked goods to have a storage life of 2-5 days, permitting customers to consume them during the course of a week.
The target market is also influenced by the advancement of technology which also contributes to the extension of the shelf life of baked goods. These technologies that are incorporated in the bakery sector have also redefined the bakery ingredients market trends. Moreover, regulatory approvals have also opened other avenues of growth as it has resulted in bakery enzyme manufacturers tapping into this business and having begun to supply new-age products. All of these considerations are fueling the growth of the bakery ingredients market during the forecast period.
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Key Takeaways:
- The US bakery ingredients market will be driven by the release of innovative and experimental baked goods as well as by an increment focus on healthy baked goods.
- Popularity of flexitarian and plant-based diets will propel Germany’s bakery ingredients market forward during the assessment period.
- High demand for immunity-boosting products will account for the growth of the bakery ingredients market in India.
- By form, dry bakery ingredients will dominate the international space with liquid bakery ingredients following closely.
- Based on type, the baking powder and mixes segment will hold a significant portion of the market share.
Competitive Landscape
Cargill Inc., DuPont De Nemours and Company, Archer Daniel Midland, Ingredion Inc., Tate & Lyle, DSM N.V., Associated British Foods, Corbion, Novozymes, Puratos Group, among others are some of the prominent players in the bakery ingredients market profiled in the full version of the report.
Leading market players are keen on introducing gourmet food and artisanal products at different price ranges and quality levels. These businesses employ product innovation strategies as well as other organic and inorganic tactics to gain the upper hand.
More Insights into Bakery Ingredients Market
FMI offers an unbiased analysis of the global bakery ingredients market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of form, ingredient type, application, and region.
According to the latest reports, based on segmentation, the bread application category is expected to acquire the largest market share while, in terms of form, the dry segment will lead the market during the assessment period.
Based on region, the bakery ingredients market in Germany will present considerable growth due to the growing adoption of flexitarian and plant-based diets. As the bakery industry at large is focusing on lessening the use of butter, the prospects for the bakery ingredients market are predicted to open up in Germany over the next few years. India and the US are two other countries with notable growth in the bakery ingredients market during the forecast period.
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Key Segments of Bakery Ingredients Market
By Form, Bakery Ingredients Market is segmented as:
- Dry
- Liquid
By Ingredient Type, Bakery Ingredients Market is segmented as:
- Fiber
- Emulsifiers
- Enzymes
- Starches
- Oils, Fats, and Shortenings
- Baking Powder and Mixes
- Preservatives
- Colors & Flavors
- Leavening Agents
By Application, Bakery Ingredients Market is segmented as:
- Bread
- Cookies & Biscuits
- Rolls & Pies
- Cakes & Pastries
- Others
By Region, the Bakery Ingredients Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Frequently Asked Questions
- What is the Present Size of the Bakery Ingredients Market?
- What is the Size of the Bakery Ingredients Market By 2032?
- What is the Bakery Ingredients Market Outlook?
- Which Region is Expected to Drive the Demand for the Bakery Ingredients Market?
- Which Bakery Ingredient Type is Leading the Market?
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