According to market research, the global baking ingredients market is expected to grow from USD 16.6 billion in 2021 to USD 22.3 billion by 2026, with a CAGR of 6.0% from 2021 to 2026. This growth is mainly driven by the increasing demand for healthier food options and changing food consumption patterns of consumers. Consumers are showing a preference for natural and healthy ingredients, and there is a growing trend towards plant-based and gluten-free offerings.
The baking powder and mixes segment is estimated to hold the largest market share during the forecast period. Baking mixes contain various ingredients such as flour, baking powder, baking soda, yeast, sugar, and salt, and are used for various applications such as bread, cakes, waffles, and muffins. With the rising trend of healthy eating, manufacturers are focusing on innovating clean labels and free-from mixes to capture the market.
Bread is projected to dominate the market by application. Bread is a staple food in most regions and there is a variety of bread available in different forms such as white bread, wholegrain and brown bread, and specialty bread. The growing health-consciousness of consumers and the subsequent increase in demand for wholegrain or specialty bread has resulted in a decline in the demand for white bread in most markets.
Dry baking ingredients, such as flour, baking powder, baking soda, yeast, sugar, and salt, are estimated to account for the largest market share during the forecast period. This is attributed to the use of more dry ingredients in baking than liquid ingredients.
Europe is estimated to hold the largest market share during the forecast period, with an overall 32.4% in the year 2020. The region remains an important market for baking ingredient companies due to its size and favorable regulatory environment. The bakery industry is the largest in Europe.
Leading companies operating in the baking ingredients market include Cargill, Archer Daniels Midland Company, Associated British Foods plc, Koninklijke DSM N.V., Kerry Group plc, and AAK AB. Other players include British Bakels, Corbion, IFF, and Dawn Food Products, Inc.
Related Reports:
Astaxanthin Market by Source (Natural, Synthetic), Form (Dry, Liquid), Method of Production (Microalgae Cultivation, Chemical Synthesis, Fermentation), Application (Dietary Supplements, Food & Beverages, Cosmetics), and Region - Global Forecast to 2026
Essential Oils Market By Product Type, Application (Food & beverages, Cosmetics & Toiletries, Aromatherapy, Home Care, and Health Care), Source (Fruits & Vegetables, Herbs & Spices, Flowers), Method of Extraction and Region - Global Forecast to 2027
