Baking Ingredients Market Report Statistics-
Baking Ingredients Market Outlook
Baking Ingredients Market Analysis, 2021
Baking ingredients are natural and artificial products added to bakery items for additional taste, texture, avoiding spoilage, ease of processing and transportation, and adding nutritional benefits to the end products. Basic ingredients include Baking powder, Baking soda, Butter, corn starch, egg, flour, milk, salt, shortenings, sugar and others.
Overall, the demand for bakery ingredients stood at $15.4 Billion 2020, representing an increase of 4.5% from 2019 due to the negative impact of COVID-19. The demand is likely to recover significantly in 2021 and will witness steady growth over the forecast period. From $15.4 Billion in 2020, we expect the demand to increase to $21.7 Billion in 2026 at a CAGR of 5.88%.
Among functionalities, Flavours and enhancers, sweeteners, colorants, emulsifiers, enzymes, yeast, baking powder and fat replacer are the main types of ingredients included in the bakery products. In particular, demand for flavours and enhancers is the largest worldwide and accounted for 33.7% market share.
Bakery ingredients are used across diverse application including Bread and rolls, Cakes and pastries, Cookies and Others. Of these bread and rolls dominate the global industry as bread is consumed as essential food across countries. Emergence of commercial bakers will further drive the production of fresh and frozen bread, rolls and other products.
Europe accounted for the largest share of global baking ingredients market, driven by large markets like Germany, the UK, France, Spain, Italy, Russia and others. The industry is characterized by rapid growth in large scale investments in automation, increased food safety, organic ingredients, and drive towards low-fat and low-calorie ingredients. On the other hand, emerging countries are witnessing increased urbanization rates, high middle-class incomes and shifting consumer behaviour towards baked foods, which will drive the market growth over the forecast period.
Baking Ingredients Companies Profiled in the report-
Baking Ingredients Market Trends- Organic baking ingredients penetrating rapidly into global markets
Bakery ingredients that are partially or total organic are being increasingly preferred worldwide. Increase in consumer awareness and health consciousness are encouraging natural, high-quality ingredients that are free from chemical residues. Healthy and environmentally-friendly products that are free from artificial fertilizers and sewage sludge, Synthetic pesticides, Herbicides, Additives, and animal-based antibiotics, GMO, food irradiation and others are preferred. The organic baking ingredients will have a positive influence on the production and consumption of overall baking ingredients market. Companies are marketing wide range of organic functional blends, mixes and bases, and frozen items.
Baking Ingredients Market Drivers- Strong growth in online sales supports market growth
Baking ingredients are increasingly being sold through online channels, through targeted marketing and online information. However, challenges related to product quality, inadequate information, presence of a large number of brands restrain the market growth. Accordingly, companies are working on providing nutritional information, regulatory approvals, and other information through chatbots, motivation messages, and programs. Further, companies are using testimonials to attract customer confidence.
Baking Ingredients Market Challenges- Intense competition among vendors restricts margins
The global baking ingredients market is characterized by presence of large number of small- and large-scale domestic companies. The fragmented nature of the industry poses challenges in product differentiation, low margins and fluctuations in business. Local companies largely dominate the Asian market while branded multi-national companies play major role in European and American markets.
US Baking Ingredients Market Outlook
The COVID has resulted in companies revisiting their strategies amid shifting consumer behaviours. Supermarkets and value-focused retailers remain the dominant drivers of demand in the country. Further, convenience snacking is one of the major market drivers.
Strong demand growth for single-serve items like bagels or cookies is being observed and accordingly, companies are aiming to market packaged single serve products.
Cooking at homes will continue over the near to medium term even during post COVID times and accordingly, bakery ingredient suppliers tend to target these segments.
Companies are also investing in advanced technologies such as artificial intelligence to boost operational efficiency, handle supply chain disruptions and gaining better insights on consumer purchase patterns.
Brown bread, Multi-grain bread, wholemeal bread, and other varieties involving new flavours such as pumpkin, blueberries, butter and other breads and rolls are increasingly attracting buyers. Fat replacers and emulsifiers, natural and organic ingredients are likely to witness rapid growth rate over the forecast period. Low calorie and fortified foods are being marketed by baking product manufacturers.
Baking Ingredients Industry Guide Segmentation-
1. TABLE OF CONTENTS 2
1.1 List of Tables 6
1.2 List of Figures 7
2. EXECUTIVE SUMMARY 9
2.1 Summary 9
2.2 The global food and beverage industry in 2020 10
2.3 Baking Ingredients Industry Outlook, 2020 – 2030 12
2.4 Abbreviations 13
3. INTRODUCTION TO BAKERY INGREDIENTS MARKET 14
3.1 Market Segments - Types, Applications, and Countries 14
3.2 Report Guide 15
3.3 Research Methodology 16
4. MACROECONOMIC & DEMOGRAPHIC OUTLOOK 17
4.1 GDP Outlook, 2020 – 2030 17
4.2 Population Outlook of Select Countries, 2020 – 2030 18
5. OVERVIEW OF THE BAKERY INGREDIENTS MARKET 19
5.1 Industry Panorama 19
5.2 Major Companies 20
5.3 Market Trends 20
5.4 Largest End-User Applications 22
5.5 Dominant Types 23
5.5.1 Flavours and Enhancers 24
5.5.2 Sweeteners 25
5.5.3 Colorants 26
5.5.4 Emulsifiers 27
5.5.5 Enzymes 28
5.5.6 Yeast 29
5.5.7 Baking Powder 30
5.5.8 Fat Replacers 31
5.6 Regional Outlook 32
6. GLOBAL OUTLOOK ACROSS COVID-19 SCENARIOS 33
6.1 Mild COVID Scenario 33
6.2 Harsh COVID Scenario 34
6.3 Severe COVID Scenario 34
7. TRENDS IN END USER MARKETS 35
7.1 Breads and Rolls 36
7.2 Cakes and Pastries 37
7.3 Cookies 38
7.4 Other Bakery Products 39
8. NORTH AMERICA BAKERY INGREDIENTS MARKET 40
8.1 Outlook 40
8.2 Trends and Opportunities 41
8.2.1 Flavours and Enhancers dominates the North American Bakery Ingredients Market 41
8.2.2 Bread and rolls dominate the North American Bakery Ingredients Market 42
8.2.3 The US dominates the North American Bakery Ingredients Market 43
8.3 Market Outlook by Country 44
8.3.1 United States 44
8.3.2 Canada 45
8.3.3 Mexico 46
9. EUROPE BAKERY INGREDIENTS MARKET ANALYSIS 47
9.1 Outlook 47
9.2 Trends and Opportunities 48
9.2.1 Flavours and Enhancers dominate the European Bakery Ingredients Market 48
9.2.2 Bread and Rolls dominate the European Bakery Ingredients Market 49
9.2.3 Germany dominates the European Bakery Ingredients Market 50
9.3 Market Outlook by Country 51
9.3.1 Germany 51
9.3.2 United Kingdom 52
9.3.3 France 53
9.3.4 Spain 54
9.3.5 Italy 55
9.3.6 Rest of Europe 56
10. ASIA PACIFIC BAKERY INGREDIENTS MARKET 57
10.1 Outlook 57
10.2 Trends and Opportunities 58
10.2.1 Flavours and Fragrances dominate the Asia Pacific Bakery Ingredients Market 58
10.2.2 Bread and Rolls dominate the Asia Pacific Bakery Ingredients Market 59
10.2.3 China dominates the Asia Pacific Bakery Ingredients Market 60
10.3 Market Outlook by Country 61
10.3.1 China 61
10.3.2 India 62
10.3.3 Japan 63
10.3.4 Rest of Asia Pacific 64
11. LATIN AMERICA BAKERY INGREDIENTS MARKET 65
11.1 Outlook 65
11.2 Trends and Opportunities 66
11.2.1 Flavours and Fragrances dominate the Latin American Pacific Bakery Ingredients Market 66
11.2.2 Bread and Rolls dominate the Latin American Bakery Ingredients Market 67
11.2.3 Brazil dominates the Latin America Bakery Ingredients Market 68
11.3 Market Outlook by Country 69
11.3.1 Brazil 69
11.3.2 Argentina 70
11.3.3 Rest of Latin America 71
12. MIDDLE EAST AND AFRICA BAKERY INGREDIENTS MARKET 72
12.1 Outlook 72
12.2 Trends and Opportunities 73
12.2.1 Flavours and Fragrances dominate the Middle East and Africa Pacific Bakery Ingredients Market 73
12.2.2 Bread and Rolls dominate the Middle East and Africa Bakery Ingredients Market 74
12.2.3 Africa dominates the MEA Bakery Ingredients Market 75
12.3 Market Outlook by Country 76
12.3.1 Middle East 76
12.3.2 Africa 77
13. COMPETITIVE LANDSCAPE 78
13.1 Archer-Daniels-Midland Company 78
13.1.1 Overview 78
13.1.2 SWOT Analysis 83
13.1.3 Key Financials 85
13.2 Ingredion Incorporated 87
13.2.1 Overview 87
13.2.2 SWOT Analysis 89
13.2.3 Key Financials 91
13.3 Associated British Foods, PLC 94
13.3.1 Overview 94
13.3.2 SWOT Analysis 97
13.3.3 Key Financials 99
13.4 Koninklijke DSM N.V. 101
13.4.1 Overview 101
13.4.2 SWOT Analysis 102
13.4.3 Key Financials 105
14. APPENDIX 109
14.1 About USD Analytics 109
14.2 Sources and Research Methodology 109
14.3 Copyright and Disclaimer 110