PUBLISHER: The Business Research Company | PRODUCT CODE: 1596993
PUBLISHER: The Business Research Company | PRODUCT CODE: 1596993
Bakery ingredients refer to the essential raw materials utilized in baking, including flour, sugar, yeast, and eggs, which are vital for producing a wide range of baked items. These ingredients are mixed in specific ratios to create products such as bread, cakes, and pastries, with each ingredient playing a role in the texture, flavor, and structure of the final products.
The primary types of bakery ingredients consist of emulsifiers, leavening agents, enzymes, baking powders and mixes, oils, fats, and shortenings, as well as colors and flavors, starches, and other components. Emulsifiers are agents that facilitate the blending of ingredients that usually do not mix well, such as oil and water, resulting in a smooth and consistent texture in baked goods, which is essential for achieving uniformity in items such as cakes and cookies. These ingredients come in various forms, including dry and liquid, for uses in products such as bread, cookies and biscuits, rolls and pies, and cakes and pastries. The end users of these ingredients include industrial manufacturers, foodservice providers, and retail businesses.
The bakery ingredients market research report is one of a series of new reports from the business research company that provides bakery ingredients market statistics, including bakery ingredients industry global market size, regional shares, competitors with an bakery ingredients market share, detailed bakery ingredients market segments, market trends and opportunities, and any further data you may need to thrive in the bakery ingredients industry. This bakery ingredients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The bakery ingredients market size has grown strongly in recent years. It will grow from $15.72 billion in 2023 to $16.99 billion in 2024 at a compound annual growth rate (CAGR) of 8%. The growth during the historical period can be linked to a higher demand for convenient food options, the increasing popularity of artisanal and specialty baked goods, the expansion of retail and foodservice industries, a rise in disposable income, urbanization, and fast-paced lifestyles.
The bakery ingredients market size is expected to see strong growth in the next few years. It will grow to $23.26 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth anticipated in the forecast period is due to an increase in health awareness, the expansion of e-commerce platforms, innovative product developments, growth in emerging markets, and a rising demand for customization and premium products. Key trends expected during the forecast period include the use of clean label ingredients, sustainability and eco-friendly practices, the integration of technology, automation and digital tools in production, and advanced processing methods.
The rising demand for convenience foods is projected to accelerate the growth of the bakery ingredients market in the coming years. Convenience foods are items that have been frozen, dried, or canned, allowing for quick and easy preparation. Bakery ingredients are essential for improving the quality, texture, and flavor of these ready-to-eat or easy-to-cook meals. For example, a report from Food and Drinks Malaysia by SAIL Group in July 2023 indicated a 3.0% increase in the convenience food sector's volume in 2023, with expectations to reach 7,829.2 kg by 2027. Additionally, Malaysia's revenue from convenience foods was US$31.84 billion in 2022 and is anticipated to grow by 5.49% from 2022 to 2027. Thus, the rising consumption of convenience foods is propelling the bakery ingredients market forward.
Leading companies in the bakery ingredients sector are prioritizing innovation in ingredient formulations, such as traceable active sourdough, to cater to the growing consumer demand for transparency, authenticity, and healthier, high-quality baked goods. Traceable active sourdough is produced through a documented fermentation process, ensuring the origins and quality of its ingredients can be verified at every stage. For instance, in May 2024, Puratos, a Belgium-based company that specializes in innovative bakery ingredients, launched Sapore Lavida, the first fully traceable active sourdough made in Belgium. This ingredient is crafted from 100% whole wheat flour sourced from regenerative agriculture, allowing bakers across mainland Europe to meet the increasing demand for locally sourced and sustainably produced sourdough. Sapore Lavida features a tangy flavor profile with balanced fruity lactic and acetic notes, and it enhances the fiber content in white bread applications.
In February 2024, Dawn Foods, a US-based manufacturer and supplier of bakery products, acquired Royal Steensma for an undisclosed amount. This acquisition supports Dawn Foods' strategic goal to strengthen its market position and expand its product range, responding to the evolving needs of bakers and food service providers globally. Royal Steensma is a Netherlands-based manufacturer of bakery ingredients.
Major companies operating in the bakery ingredients market are Cargill Incorporated, Archer Daniels Midland Company, Associated British Foods plc, Sudzucker AG, Royal DSM N.V., Kerry Group plc, Ingredion Incorporated, Wacker Chemie AG, Glanbia plc, Lesaffre ET Compagnie, Novozymes A/S, Dawn Foods Ltd., Puratos Group, Tate & Lyle PLC, Corbion N.V., Lallemand Inc., CSM Bakery Solutions, MGP Ingredients Inc., Zeelandia International B.V., British Bakels Ltd., Grain Millers Inc., Muntons Plc, Taura Natural Ingredients Ltd., Uniferm GmbH & Co. KG, Orkla Latvija
Europe was the largest region in the bakery ingredients market in 2023. The regions covered in the bakery ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the bakery ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The bakery ingredient market consists of sales of flour, salt, nut butters, seeds and nuts, chocolate and cocoa products, fruits, vegetable extracts and essences, gelatin and pectin. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Bakery Ingredients Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on bakery ingredients market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for bakery ingredients ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The bakery ingredients market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.