Baking ingredients are a kind of edible commodities that aid in preserving the taste, softness, and freshness of the product. These products enhance their shelf life and also scale the protein content in the baked item. Bakery ingredients include baking powder, leavening agents, emulsifiers, and enzymes that are widely used in the processing of bakery products including tarts, pies, rolls, cakes, pastries, doughnuts, and bread.
The growing consumer preference for a wide range of baking products along with the surging concerns among people for healthy dietary supplements is likely to scale up the demand for global baking ingredients market. Innovation and new applications in the developed economy to make quality products will further fuel the demand for these ingredients. Urbanization is leading to a spike in the consumption of baked food. Due to the transforming work culture globally, the on-the-go food lifestyle has emerged as the dominant trend. Easy to carry and convenient food options offered by bakeries including wraps and pocket rolls is a key factor driving the growth of the global market.
Consumers are becoming highly sensitive to various areas including social impact, sustainability, and health, and make a mind-decision while purchasing foodstuff. Also, owing to the environmental concerns on consuming animal-based food, consumers are now turning to vegan and vegetarian lifestyles to preserve the environment. However, such a transformation is likely to create several lucrative growth opportunities in the global baking ingredients market.
The global baking ingredients market can be segmented into form, bakery, application, type, and region.
By form, the market can be segmented into liquid and dry.
By application, the market can be segmented into bread, rolls & pies, cakes & pastries, cookies & biscuits, and others. The bread segment accounts for the largest share in the global baking ingredients market.
By type, the market can be segmented into leavening agents, color & flavoring agents, preservatives, baking powder, oils, fats & shortenings, scratch, enzymes, emulsifiers, and others. The baking powder & mixed segment holds domination over others.
Europe accounts for the share in the global baking ingredients market due to the transforming lifestyle of the people in the region. Consumers are now adopting alternatives for conventional home food, which in turn will fuel the demand for processed food.
North America is the second-largest region in the global baking ingredients market owing to the fact that bakery products are still a staple food in the region. Also, the ongoing technological advancements in the field of food and beverages are likely to innovate certain new foodstuffs, which are likely to cater to the growing demand for convenient food in the region.
Asia Pacific is expected to be the fastest-growing region in the global baking ingredients market owing to the growing disposable income of the people in the region. Also, the growing inclination of people towards the western food style will also accentuate the growth of the regional market.
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Some of the significant players in the global baking ingredients market are Lallemand inc., Koninklijke Dsm N.V., Kerry Group, Plc, Ingredion Incorporated, E.I. Du pont de nemours and Company, Dawn Food Products, Inc., Cargill, Incorporated, Bakels Group, Associated British Foods Plc, And Archer-Daniels-Midland Company. To cite, British Bakels (UK) in January 2020 introduced vegan baking ingredients. As the veganism trend surges in 2020, the growth in consumption for quality vegan bakery options is likely to hit a pitch. Hence, Bakers have launched vegan suitable indulgent fillings to their vegan product range.