Bakery Ingredients Market

The global bakery ingredients market size was valued at $12,960.0 million in 2020, and is projected to reach at $22,592.6 million by 2030, growing at a CAGR of 5.6% from 2021 to 2030.

Bakery ingredients are food products that help maintain freshness, softness, & taste; improve shelf life; and increase the protein content in the baked items. These items are available in different varieties in the market and are considered as the basic food for human nutrition globally. The choice of the ingredients and the compositions determine the flavor & texture of the baked food product. The demand for products, such as bread and biscuits, is increasing at a significant rate and are anticipated to provide lucrative growth opportunities for the growth of the global ingredients market during the forecast period. In the mature bakery ingredients markets of North America and Europe, the demand for bakery ingredients exhibiting health benefits and containing lesser or negligible artificial constituents is increasing massively.

The global bakery ingredients market is driven by factors such as busy lifestyle and change in dietary habits, which in turn result in higher consumption of bakery products. Moreover, change in culture and routines of people in the developing nations and growth in demand for low trans-fat & gluten-free products are expected to foster the growth of the bakery ingredients market. In addition, rapid rise in obesity rates and rise in fitness-related concerns have fueled the demand for healthy bakery food products. Conversely, growing trend of replacing baked products with cereals, such as oats, is expected to hamper the growth of the global market. Furthermore, stringent regulations and implementation of international quality standards are anticipated to restrain the market growth. However, the potential market for frozen bakery foods along with proactive efforts of key players to reduce production costs and increase shelf life of products are anticipated to provide lucrative opportunities for the bakery ingredients market growth.

Strong global concerns about the pandemic, coronavirus have largely but negatively influenced the global bakery ingredients market. Moreover, due to the high demand and low supply trends, the prices of ingredients rises in 2020 to overcome on economic instability. On the contrary, disruptions to the supply chain in shipping could lead to temporary shortages in the supply, putting upward pressure on prices in the short term.   

According to the bakery ingredients market analysis, the market is segmented on the basis of type, the market is divided into enzymes, starch, fiber, colors, flavors, emulsifiers, antimicrobials, fats, dry baking mix, and others. On the basis of application, it is fragmented into bread, cookies & biscuits, rolls & pies, cakes & pastries, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, United Arab Emirates, South Africa, Saudi Arabia and rest of LAMEA). 

On the basis of type, dry baking mix segment dominated the global bakery ingredients market in 2020, accounting for around 18.4% of the overall market revenue. Fats in bakery products helps to retain gases released during baking thus ensuring richness, flavor, and moisture of the bakery products. Emulsifiers act as an intermediary between oil and water thus preventing separation of oil from water, it is also used for conditioning of dough and increasing shelf life of bakery products. This segment is expected to grow at a significant rate during the forecast period.

On the basis of application, the bread segment held the significant bakery ingredients market share in 2020. These ingredients are used in bread due to aroma, taste, and conditioning of dough required in bread making. On the other hand, cookies & biscuits are consumed as snacks and are gaining popularity among youth due to its taste, texture, and health benefits. Therefore, this segment witnessed the second highest market share in 2020.

On the basis of region, Europe dominated the global bakery ingredients market, registering a CAGR of around 5.3% during the bakery ingredients market forecast period. Asia-Pacific accounts for the highest growth rate along with a significant share in the overall global market. North America had the second largest market share in 2020, owing to rapid consumption of bakery products in this region.

Players in the market have adopted business expansion and product launch as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in the report include Archer-Daniels-Midland Company, Associated British Foods Plc., Cargill Incorporated, E. I. Du Pont De Nemours and Company, Ingredion Incorporated, Kerry Group, Plc., Koninklijke DSM N.V., Dawn Food Products, Inc., Bakels Group, and Lallemand Inc.  The other players in the value chain include Sdzucker, Taura Natural Ingredients Ltd., AAK AB, Tate & Lyle PLC, Corbion N.V., IFFCO Corporate, CSM Bakery Solutions, Novozymes, and Puratos Group.

Key benefits for stakeholders  

• The report provides quantitative analysis of the current bakery ingredients market trends, estimations, and dynamics of the bakery ingredients market size from 2020 to 2030 to identify the prevailing bakery ingredients market opportunities. 
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis and the market size & segmentation assist to determine the market potential.
• The major countries in each region are mapped according to their revenue contribution to the market.    
• The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the bakery ingredients industry.

 Bakery Ingredients Market Report Highlights