The global bakery ingredient market value is US$ 20,795 million in 2023. Bakery ingredient suppliers expect the market to grow at a CAGR of 6.7% through 2033, with a forecast valuation of US$ 39,867 million by 2033.
Bakery ingredients are used in bakery products such as bread, cookies, biscuits, cakes, pizza, tarts, pies, pastries, donuts, and frozen baked products. Predominantly it is used in bakery products to improve the overall product quality, to save time, and for longevity. Bakery ingredients have been used since ancient times and are of utmost importance these days as nothing can be baked without them.
They are available in a wide variety and their preferences may vary according to the regional demands. Easy access to global information and exposure to various bakery products has increased the demand of bakery ingredients.
The Bakery Ingredients Market is experiencing significant growth as the baking industry evolves to meet diverse consumer demands. With the rising popularity of artisanal and healthier baked goods, there is a surge in demand for high-quality ingredients. Innovations in taste, texture, and nutritional value are fueling the market’s upward trajectory.
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Bakery Ingredients Market Dynamics
Growth in global bakery ingredients market is due to increase in demand for bakery ingredients, and changing lifestyle which leaves little time to prepare meals, saves time and affordability. Also with increasing population of working women and time constraint has initiated the need. Ready to eat baked food is replacing the conventional home cooked food.
In Europe and North America, majority of the population prefers wraps, rolls and pocket sandwiches over time consuming food items because of their busy and hectic lifestyle. Development of new packaging materials and increased product diversification in baked food category would promote the demand of bakery ingredients.
Bakery Ingredients Market Size
The bakery ingredients market has grown substantially at a healthy CAGR rate of 14-18 percent in the year 2012-14. Many companies are entering in this bakery ingredients market to meet the consumer demand of the bakery ingredients. Globally, U.S. and Europe are the largest bakery ingredients markets followed by North America bakery ingredients market and Asia Pacific bakery ingredients market. The biggest driver for bakery ingredients market could be that these countries are the best destination for innovations in the bakery ingredients industry.
Bakery Ingredients Market by Category
By Form, Bakery Ingredients Market is segmented as:
- Dry
- Liquid
By Ingredient Type, Bakery Ingredients Market is segmented as:
- Fiber
- Emulsifiers
- Enzymes
- Starches
- Oils, Fats, and Shortenings
- Baking Powder and Mixes
- Preservatives
- Colors & Flavors
- Leavening Agents
By Application, Bakery Ingredients Market is segmented as:
- Bread
- Cookies & Biscuits
- Rolls & Pies
- Cakes & Pastries
- Others
By Region, the Bakery Ingredients Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
