Baking Ingredients Market Size, Share, Growth Trends & Industry Analysis

The global baking ingredients market is estimated at USD 16.6 billion in 2021 and is projected to reach USD 22.3 billion by 2026, at a CAGR of 6.0% from 2021 to 2026. Flour, water, and leavening agents are the ingredients primarily responsible for the characteristic appearance, texture, and flavor of most bakery products. Oils, eggs, emulsifiers, colors, shortening, and sugar are effective in modifying these qualities and produce a good-quality product.

There has been a spike in demand for baking ingredients, such as baking soda, baking powder, cocoa powder, and other condiments, as consumers stranded at home due to the Covid-19 lockdown have taken aggressively to baking.

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The baking powder and mixes segment of the baking ingredients market is projected to account for the largest share, by type

The baking powder and mixes hold the largest segment in the baking ingredients market. Baking powder is a dry chemical leavening agent—a mixture of a carbonate or bicarbonate and a weak acid. The base and acid are prevented from reacting prematurely by the inclusion of a buffer such as cornstarch. The baking powder is used to increase the volume and lighten the texture of baked goods. It releases bubbles in the wet mixture that expands. It works by releasing carbon dioxide gas into a batter or dough through an acid-base reaction, causing bubbles in the wet mixture to expand, thus leavening the mixture.

The market for bread in the baking ingredients market is projected to account for the largest share during the forecast period

Bread holds the largest share in the baking ingredients market, by application. Bread is one of the oldest basic food products of human beings. Bread and bakery products are widely consumed as part of traditional diets and are an important source of dietary energy. Bread is also a source of carbohydrate, protein, and Vitamin B and E, and is increasingly consumed worldwide. However, this demand is for whole wheat products. The reason is that the population having healthy eating awareness minimalizes the carbohydrate, fat, and cholesterol income in their meals and maximizes the complex carbohydrates, dietary fibers, and vegetable protein income.

The use of dry bakery ingredients is the highest, by the form of baking ingredients, across the globe

The dry ingredients hold the largest share in the baking ingredients market, by form. Dry ingredients are measured inaccurately because of the nature of several dry ingredients. To measure dry ingredients accurately, it is essential to use a set of measuring cups, specifically designed for dry ingredients. There are differences between dry measuring cups and liquid measuring cups.

Asia Pacific is the fastest-growing market during the forecast period in the baking ingredients market

Asia Pacific region is expected to grow at the fastest rate in the baking ingredients market. The tides of the global baking industry are shifting as the North American and European markets are mature and new global regions are emerging with immense growth opportunities. The APAC region is expected to be a dynamic and fast-growing region for the bakery ingredients market in the coming few years.

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Key participants in the baking ingredients market such as Cargill (U.S.), Archer Daniels Midland Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V. (The Netherlands), Kerry Group plc (Ireland), and AAK AB (Sweden). Other players include British Bakels (U.K.), Corbion (the Netherlands), IFF (US), and Dawn Food Products, Inc. (U.S.).

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