Key Growth Opportunities in the Global Baking Ingredients Market

Key Growth Opportunities in the Global Baking Ingredients Market

“MarketsandMarkets™”
The baking ingredients market is estimated at USD 12.39 billion in 2016 and is projected to reach USD 16.91 billion by 2022, growing at a CAGR of 5.4% during the forecast period.

The report Baking Ingredients Market by Type (Emulsifiers, Leavening Agents, Enzymes, Baking Powders & Mixes, Oil, Fats & Shortenings, Starch, Colors & Flavors), Application (Bread, Biscuits & Cookies, Cakes & Pastries, Rolls & Pies), and Region – Forecast to 2022″, The baking ingredients market is estimated at USD 12.39 billion in 2016 and is projected to reach USD 16.91 billion by 2022, growing at a CAGR of 5.4% during the forecast period. Factors such as changing consumer lifestyles, preference for convenience foods, demand for gluten-free foods, and the increasing demand for natural and healthy ingredients are some of the key trends influencing the growth of the baking ingredients market.

Baking Ingredients Market

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Rising demand for low trans-fat and gluten-free products

Consumers are becoming more health-conscious, and their nutritional preferences are changing, leading to a rise in demand for gluten-free and low-carbohydrate products. Food manufacturers now make bakery products that have reduced sodium content and low-saturated fats, with the help of emulsifiers and other additives. A growing trend has also been witnessed with respect to demand for vegetarian and organic bakery products. The demand for gluten-free products has witnessed strong growth in Europe and North America, especially in the U.S., due to awareness about the benefits of gluten-free diets.

Manufacturers in the Asia-Pacific region are expanding their product portfolios owing to the diversified preference and improving living standards of consumers. China, Hong Kong, and Malaysia have witnessed a high growth in demand for bread in the market whereas demand for rice bread is higher in the Japanese market.

Health issues due to excess consumption of trans fatty acids

In developing nations, trans-fatty acids are widely used in food manufacturing owing to their melting point at room temperature between saturated and unsaturated fats. They are found in hard margarine, partially hydrogenated oils, and in some bakery products and fried foods. Trans-fatty acids are most commonly found in processed foods containing partially hydrogenated vegetable oils, such as margarine, palm oil, and butter fat which are used as baking ingredients. Epidemiologic and biochemical evidence suggest that excessive usage of trans-fatty acid in the diet may lead to significant risk of cardiovascular diseases and cancer in humans. Awareness about such negative health effects of trans-fatty acids is affecting the baking fats & shortenings market, and in turn, the baking ingredients market.

Baking ingredient manufacturers are focusing on reducing the trans-fatty acid content in their products and are also developing alternatives for them. The governments of many countries have fixed the intake level of trans-fatty acids for various food products. Currently, trans-fatty acids in foods are labeled in the U.S., but not in the U.K. and Europe. The UK Food Standards Agency (FSA) is in favor of the revision of the European directive that governs the content and format of nutrition labels in the U.K. (and the Rest of Europe) so that trans-fatty acids are labeled.

The Demand for Bakery Ingredients to Remain Concentrated in the Bread Segment Through 2022

Consumers are increasingly spending on protein-rich products such as cakes, pastries, pizzas, rolls, and donuts. Bakery products are considered staple foods in various regions. In parallel to the increasing consumption of protein-rich bakery products, the demand for bakery ingredients is projected to remain high. Also, bakery outlets focus on developing innovative products, particularly bread of various flavors, to align with the health requirements of consumers. Due to the high demand for bakery products, the bread segment is projected to record significant growth in the market during the forecast period.

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Europe To Hold the Largest Share in the Bakery Ingredients Market During the Forecast Period

In parallel to the increasing number of events, the demand for bakery and confectionery products remains high across regions as a staple food. Retail and bakery outlets focus on aligning with the increasing trend of consuming bakery products as snacks. High demand for bakery products in regions such as Europe has encouraged manufacturers to allocate their budget to a range of bakery ingredients. Due to these factors, Europe is projected to hold the largest share in the bakery ingredients market during the forecast period.

Leading players operating in the bakery ingredients market include Corbion N.V. (Netherlands), Associated British Foods plc (UK), British Bakels Limited (UK), Royal DSM N.V. (Netherlands), and AarhusKarlshamn (Sweden). Key players are adopting strategies such as product innovations and new product developments to enhance their brand image across regions.

All in all, the bakery ingredients market is projected to record moderate growth during the forecast period. Manufacturers focus on offering low-fat bakery products to align with the requirements of health-conscious customers. Also, an increasing number of events has encouraged the purchase decisions of consumers for bakery and confectionery products. These factors are projected to contribute to the growth of the market.

 

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