How Is The Global Bakery Ingredients Market Defined?
Bakery ingredients are the raw materials used in baking, such as flour, sugar, yeast, and eggs, which are essential for creating a variety of baked goods. They are combined in specific proportions to produce products like bread, cakes, and pastries, each ingredient contributing to texture, flavor, and structure.
Bakery Ingredients Global Market Report 2024 provides data on the global bakery ingredients market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The bakery ingredients market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Bakery Ingredients Market Size Expected To Change, And What Are The Growth Rate Projections?
The bakery ingredients market has grown significantly in recent years, increasing from $15.72 billion in 2023 to $16.99 billion in 2024, with a CAGR of 8%. This growth is attributed to rising demand for convenience foods, the popularity of artisanal and specialty baked goods, the expansion of retail and foodservice sectors, increased disposable income, and urbanization. The market is projected to reach $23.26 billion by 2028, growing at a CAGR of 8.2%. The forecasted growth is driven by rising health consciousness, e-commerce growth, innovative product offerings, emerging markets, and demand for customization and premium products. Trends include clean label ingredients, sustainability practices, technology integration, automation in production, and advanced processing techniques.
Which Drivers Are Accelerating Growth In The Bakery Ingredients Market?
The rising consumption of convenience foods is anticipated to drive the growth of the bakery ingredients market. Convenience foods, which are frozen, dried, or canned and quickly prepared, rely on bakery ingredients to enhance their quality, texture, and flavor. For instance, in July 2023, Food and Drinks Malaysia reported that the convenience food sector grew by 3.0% in volume in 2023 and is projected to reach 7,829.2 kg by 2027. Moreover, Malaysia's convenience food revenue, amounting to $31.84 billion in 2022, is expected to grow at a rate of 5.49% between 2022 and 2027. As a result, the increasing demand for convenience foods is fueling the bakery ingredients market.
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What Are The Core Segments Of The Global Bakery Ingredients Market?
The bakery ingredients market covered in this report is segmented –
1) By Product Type: Emulsifiers, Leavening Agents, Enzymes, Baking Powder And Mixes, Oils, Fats And Shortenings, Colors And Flavors, Starch, Other Products
2) By Form: Dry, Liquid
3) By Application: Bread, Cookies and Biscuits, Rolls And Pies, Cakes And Pastries, Other Applications
4) By End Users: Industrial, Foodservice, Retail
Which Emerging Trends Are Reshaping The Bakery Ingredients Market Size?
In the bakery ingredients market, companies are innovating ingredient formulations to meet consumer demand for transparency and healthier options. Traceable active sourdough, produced with documented fermentation processes, ensures quality and sustainability. In May 2024, Puratos, a Belgium-based company, launched Sapore Lavida, a fully traceable sourdough made from regenerative agriculture whole wheat flour. It offers a tangy flavor profile and increased fiber content for bread applications.
What Is The Largest Region In The Bakery Ingredients Market?
Europe was the largest region in the bakery ingredients market in 2023. The regions covered in the bakery ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
