Global Baking Ingredients Market to Exhibit at a 5.8% CAGR during the forecast period 2020-2027

The global baking ingredients market is expected to grow USD 22 billion by 2027, at a CAGR of 5.8% during the forecast period 2020-2027.

NEWARK, UNITED STATES, NEW JERSEY, August 25, 2021 /EINPresswire.com/ — A new research report published by Fior Markets with the title Baking Ingredients Market By Ingredient Type (Emulsifiers, Baking Powder & Mixes, Leavening Agents, Starch, Enzymes, Colours & Flavours, Fats & Shortenings, Sweeteners, Preservatives, Others), Applications (Pizza Bases, Cookies & Biscuits, Breads, Cakes & Pastries, Rolls & Pies, Others), Regions, And Global Forecast 2020-2027.

The global baking ingredients market is expected to grow from USD 14 billion in 2019 to USD 22 billion by 2027, at a CAGR of 5.8% during the forecast period 2020-2027. The Asia-Pacific region stands as a promising market for baking ingredients and is expected to grow at the highest CAGR during the forecast period. This is due to increasing demand for emulsifiers, leavening agents and fats & shortening in essential baking recipes such as cookies, cakes, biscuit breads etc. Europe accounted for the majority of the market share because of a vast preference for baked foods by European consumers. The markets in India, Australia and China are proliferating, commanding significant shares in the regional market.

Key players in the global baking ingredients market are Omega Protein Corporation, BASF SE, Cargill Incorporated, Kemin Industries, Inc., Archer Daniels Midland, SunOpta, DowDuPont Inc., Roquette Frères, Koninklijke DSM N.V, DowDuPont Inc., InVivo, Ingredion Incorporated, John Pointon & Sons Ltd., and Darling Ingredients Inc. among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global baking ingredients market.

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With the introduction of deoiled canola lecithin, Cargill (U.S.) broadened its line of emulsifiers in 2016. Such canola lecithins are used in a number of food applications including chocolate & confectionery, bakery and convenience foods.

The ingredient type segment includes emulsifiers, baking powder & mixes, leavening agents, starch, enzymes, colours & flavours, fats & shortenings, sweeteners, preservatives, and others. The baking powder & mixes sub-segment is expected the capture a high market share during the forecast period due to its wide range of applications in pizza bases, cakes, muffins, breads etc. Another factor is the expansion of bakeries and related stores.

Based on application, the market has been segmented into pizza bases, cookies & biscuits, breads, cakes & pastries, rolls & pies, and others. The bread sub-segment held the largest global market share due to an increased demand for gluten-free foods by consumers worldwide.

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About the report:
The global baking ingredients market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on a global, regional, and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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Source: EIN Presswire