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The Global Baking Ingredients Market is accounted for $12.35 billion in 2016 and expected to grow at a CAGR of 5.7% to reach $18.25 billion by 2023. Factors like demand for healthier and innovative products & ingredients, demand for ready to eat food and increase in disposable income and demand for gluten free foods are boosting the market growth. Stringent regulations & international quality standards and health issues due to excess consumption of trans fatty acids will impede the market growth. Furthermore, alternative for emulsifiers to reduce production cost, growth of frozen bakery products provide wider opportunity for the market to grow.
The baking powders & mixes segment accounts for the largest market share. The enzymes segment is expected to grow at the highest CAGR during the forecast period. Asia Pacific is the fastest growing market, due to emerging economies such as China and India. Europe is the largest regional market followed by North America.
Some of the key players in Global Baking Ingredients Market are Cargill Inc, DuPont, Archer Daniels Midland (ADM), Royal DSM, Kerry Group, Associated British Foods (ABF), Sudzucker, Danisco, Tate & lyle, IFFCO Ingredients Solution, Dawn Foods Ltd, CSM Bakery Solutions and Taura Natural Ingredients Ltd.
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Baking Powders & Mixes
Colors & Flavors
Fats & Shortenings
Rolls and Pies
Cakes & Pastries
Biscuits & Cookies
Rest of Europe
Rest of Asia Pacific
Rest of the World
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