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Written by Ravinder » Updated on: November 21st, 2024
The latest report by IMARC Group, titled “Bakery Ingredients Market Report by Product Type (Emulsifiers, Leavening Agents, Enzymes, Baking Powder & Mixes, Oils, Fats and Shortenings, Colors & Flavors, Starch, and Others), Application (Breads, Cookies & Biscuits, Rolls & Pies, Cakes & Pastries, and Others), End Use Sector (Industrial, Foodservice, Retail), and Region 2024-2032”, offers a comprehensive analysis of the bakery ingredients market report. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
How Big is the Bakery Ingredients Market?
The global bakery ingredients market size reached USD 16.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 25.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2024-2032.
Global Bakery Ingredients Market Dynamics:
Increasing Demand for Clean-Label and Health-Oriented Ingredients:
Within the framework of the new international trends, over the years the industry of baked goods has experienced growth that is focused on evolving and venturing into new territories, production processes, distribution channels, etc. This is further supported by the fact that packaged food is quickly gaining popularity among consumers who lead active lifestyles. As of late, consumers have been on the lookout for healthy products using simple ingredient lists that do not contain any artificial additives, synthetic compounds, or preservatives. A number of factors have contributed to the growing concern over health and nutrition, therefore it is naturally asserted that more and more individuals are catering towards health-improving ingredients such as whole grains, natural sweeteners or plant-based substitutes from gluten free, vegan diets receptors. The clear labelling trend has motivated bakers to modernize and modify conventional recipes. This creates new opportunities for businesses who supply natural and functional ingredients for baking.
Technological Advancements in Ingredient Processing and Customization:
The transformation of food processing technologies is creating a new era in the bakery ingredients segment by providing improved performance, shelf life and nutrition enhancement. Due to the innovations of enzyme solutions, encapsulated flavors or modern emulsifiers, manufacturers can comply with the consumers demand for highly appealing baked goods. Additionally, within the international markets, there is an increased demand for specially developed regional ingredient combinations that meet local taste and nutritional needs. These advancements not only optimize operational efficiencies but provide the manufacturers with the agility in responding to changing demands, therefore creating a competitive advantage in the bakery industry which is rapidly becoming more fragmented.
Integration of E-commerce and Direct-to-Consumer Models:
E-commerce and direct-to-consumer (DTC) models are changing the marketing and distribution platforms of selling bakery ingredients. Manufacturers and suppliers use online platforms in offering products to wider audiences and provide commercial bakers and home baking fans with convenience and variety. The trend has also led to the growing popularity of various online channels facilitating the visibility of unique and specialized ingredients such as ancient grains and superfoods that used to be restricted to specific geographical regions. Not only does this transition to online distribution channels increase sales opportunities; it also responds effectively to the needs of many gadget-users who are rushed for time, thus speeding up the growth of the market.
According to the research report, here are some of the top leading companies operating in the bakery ingredients industry:
Trends in the Bakery Ingredients Market:
The pastry business gets fresh perspectives as it nurtures a fresh demand for creative and eco-friendly items. Customers are more likely to choose baked products containing provisions such as probiotics, pre-biotics, and vitamin-enriched wines that help satisfy their enjoyment as well as their health needs. Now manufacturers along these lines have made it a policy to have environmentally-friendly sourcing and source ingredients that minimize food wastes through upcycling. The application of artificial intelligence and machine learning within bakery operations is improving the rate of production, cost control, quality control, and forecasting demand. Such developments are rapidly changing the fundamental structure of the industry and creating a new market environment where inventive solutions and flexibility are the leading forces.
Global Bakery Ingredients Market Segmentation:
Breakup by Product Type:
According to the report, baking powder and mixes represented the largest market segmentation.
Breakup by Application:
According to the report, breads represented the largest market segmentation.
Breakup by End Use Sector:
Breakup by Region:
According to the report, Europe accounted for the largest market share.
Note: Should you require specific information not included in the current report, we are pleased to offer customization options to meet your needs.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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