The global bakery ingredients market is anticipated to reach a market valuation of US$ 17.9 Billion by the year 2022 end, accelerating with a CAGR of 6.4% by 2022-2032, which is anticipated to be valued at US$ 33.3 Billion by 2032.
Bakery ingredients are used in bakery products such as breads, cookies, biscuits, cakes, pizza, tarts, pies, pastries, donuts and frozen baked products. Predominantly it isused in the 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 important these days as nothing can be baked without it.
They are available in wide variety and their preferences may vary according to the regional demands. Easy access of global information and exposure of various bakery products has increased the demand of bakery ingredients.
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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:
By Ingredient Type, Bakery Ingredients Market is segmented as:
- Oils, Fats, and Shortenings
- Baking Powder and Mixes
- Colors & Flavors
- Leavening Agents
By Application, Bakery Ingredients Market is segmented as:
- Cookies & Biscuits
- Rolls & Pies
- Cakes & Pastries
By Region, the Bakery Ingredients Market is segmented as:
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa
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Frequently Asked Questions
- What is the Present Size of the Bakery Ingredients Market?
- What is the Size of the Bakery Ingredients Market By 2032?
- What is the Bakery Ingredients Market Outlook?
- Which Region is expected to drive the Demand for the Bakery Ingredients Market?
- Which Bakery Ingredient Type is leading the Market?