used in Bakeries are known as bakery ingredients. Some of the most commonly used bakery ingredients include baking powder, flour, butter, baking soda, eggs, honey, yeasts, fruits, nuts, additional flavors and flavors enhancers and color additives. These ingredients hold various functionalities like performing emulsification, protein strengthening and maintaining freshness in baked food.
Bakery products like bread are staple food predominantly in North America and Europe. However, these products are gaining prominence inmerging economies of APAC and Latin America owing to the risin preference for packaged food products and strengthening retail chains. The bakery products market was valued at $XX billion in 2015 and is forecast to grow at XX% CAGR in the coming five years.The baking powders & mixes segment accounts for the largest share in the Baking Ingredients Market, followed by oils, fats & shortenings.
The enzymes segment is expected to grow at the highest CAGR in terms of value. ingredients offering similar functionalities are facing competition due to raw material availability and production costs. For instance usage of enzymes in baking restricts the growth of emulsifiers in baking applications.
Baking Ingredients market
is segmented by type as emulsifiers, leavening agents,enzymes, starch and many others. The market is also segmented by applications are bread biscuits & cookies, rolls and buns. Increasing demand for convenience foods, functional foods, and baked goods, coupled with the constantly changing lifestyles, has increased the demand for baked products in China and other developing Asian economies.The first biggest region for baking ingredients Market is North America. The key players in the supply chain of baking ingredients are raw material suppliers, government bodies, distributors, food-commodity exporters related to bakery & confectionery, and end users such as baked goods manufacturers.
North America is the leading market for baking ingredients market with China being the major contributer. Asia-pacific region is forecast to have highest growth in the next five years due to growing adoption of baking ingredients market. Asia-pacific Baking Industrial markrt accounts to XX% of the global market for Baking Industrial Market and is the fastest growing market followed by Americas. The baking ingredients market, estimated at $XX billion in 2015, is projected to grow at a CAGR of XX% to reach $XX billion by 2021.
Increasing Preference for Packaged Bakery Items in APAC Drives the Baking Ingredients Market
Baking ingredients include baking powder, baking soda, flour, butter, eggs, yeasts, honey, fruits, nuts, and several flavor and color additives. General bakery products include biscuits, cookies, breads, cakes, pastries, pies, torts, donuts, and chalets. Baking ingredients are not just industry specific, but also have many domestic markets scattered around the world.The growth in the bakery ingredients market is directly related to the changing dimensions of the baking industry as a whole.
Breads and cakes are the staple food of the western culture, and not as much relevant in Asia-Pacific. The annual per capita consumption of baked food in these geographies is more than the consumption in the Asia-Pacific region. The bakery market is matured in these countries, but it is expected to grow exponentially in the Asia-Pacific region. India and China have clocked double digit growths in this market recently, and even if the consumption per capita is not set to match the western standards, the population is a key factor for the estimated increase in the market.