Global Baking Ingredients Market Growth Positively Impacted by Increasing Demand For Baked And Processed Products

12-Mar-2018 | Zion Market Research

As per the report, the worldwide requirement for the market of baking ingredients was capitalized at more than USD 11.80 Billion in 2015, is anticipated to cross above USD 15.73 billion in 2021 and is expected to increase at a CAGR of somewhat above 5.0% from 2016 to 2021.

Baking ingredients improve the procedure of baking by enhancing taste, flavor, and texture. Baking is the method in which the food is baked employing extended heat followed by convection and radiation. Flour, yeast, and egg are some of the extensively employed basic ingredients for baking.

The market for baking ingredients is mainly boosted by increasing requirement for baked and processed products. Further, the rise in population leads to increasing requirement for food. Altering lifestyle paired with increasing discretional and dual income inspires the increment of this market. Additionally, the swiftly increasing food chain market sets off the development of the market for baked ingredients. There has been an enormous unwillingness on a daily basis for cooking in the developed nations that set off the increment of the industry.

On the basis of the type, the market of baking ingredients can be divided as fats & shortenings, leavening agents, baking powders & mixes, colors & flavors, starch, emulsifiers, oil, and enzymes among others. Starch is top segment due to high use and demand in the baking procedures. A number of usages for baking ingredients comprise bread, cakes & pastries, biscuits & cookies, rolls & pies, and other applications. Bread is the most widely employed product in the developed nations on a daily basis. Cookies and biscuits are also believed as a potential segment of the market.

Europe and North America are believed to be the most famous regions for the market of baking ingredients. This mainly contributed to the fast-growing usage rate in this region for baked food. A hectic lifestyle is also one more feature adding to the splendid development of the market in Europe and North America. The Asia Pacific is seeing unparalleled growth in latest times and is expected to maintain its speed owing to increasing food chain and elevating requirement for processed, baked, and packed food especially in India. Latin America shows decent increment due to rising disposable revenue. The Middle East and Africa, due to fast changing lifestyle, is expected to knowledge sustainable increment in the coming years.

There has been strong rivalry among the leading the companies to primarily aim at R&D of the product to survive in this market. Cargill, Inc, Associated British Foods Limited, Kerry Group plc, Royal DSM N.V., British Bakels Ltd, Corbian N.V., Dawn Foods Ltd, Muntons plc, AAK UK, CSM, Taura, crust ‘n’ crumb food ingredients Pvt Ltd., Caravan Ingredients, and Empire Baking Company are some of them.

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