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Report Overview
The global bakery ingredients market value was USD 17.63 billion in the year 2023. The bakery ingredients industry is further expected to grow at a CAGR of 6% between 2024 and 2032 o reach a value of almost USD 29.79 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Bakery Ingredients Market Growth
The global bakery ingredients market revenue is witnessing tremendous growth in several developing countries because of the expansion of the bakery sector, and evolution of eating habits as well. The love for bakery products as breads, pastries, cakes, and cookies are also increasing in many regions especially in Asia-Pacific and Latin America owing to better pay and influence from western diets including fast food. As for baked goods, the sales in the US reported stable performance reaching a value of USD 82.9 billion with a Compound Annual Growth Rate (CAGR) of 5.9% during 2018 and 2022 period. This growth has in most cases been attributed to busy consumer lifestyles especially in urban areas where people are more often on the move. One such consequence has been increased popularity for the easy, effortless and almost instant types of baked snacks out of the pack. Such desserts also create the demand for some specific baking components including preservatives, emulsifiers, enzymes, which help keep the quality parameters such as freshness, structure and self-life in a busy packaged only range of ready-to-eat foods for instant storage and consumption.
At a broader view, the increase in clear choice for healthier clean label products is one very strong reason why the bakery ingredient industry is expanding-most especially now that health indicators are in excess with consumers looking for organic and good tasting ingredients. This is in turn creating more and more innovation throughout the entire business with a more health-focused and cleaner label products.
The bakery ingredient market dynamics and trends are oriented towards cleaner and more wholesome options. Also, the growing demand by consumers for gluten-free, low-calorie and low-sugar bakery items offers market players an opportunity to grow and diversify their product portfolio. In return, the businesses are responding by producing foods that dot these dietary needs, thus enabling the ever-evolving customer base which is health, nutrition and wellness focused.
Bakery Ingredients Market Report Snapshots
Bakery Ingredients Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the Global Bakery Ingredients Market attained a value of nearly USD 17.63 billion.
The market is projected to grow at a CAGR of 6.0% between 2024 and 2032.
The shifting consumer lifestyles, the growing demand for gluten-free baked goods, and the rising demand for healthy and natural ingredients in bakery products are the major market drivers.
The key trends guiding the market include the rising use of advanced technologies to produce baked goods, the growing awareness regarding the benefits of healthy baked goods, and the increasing demand for trans-fat and gluten-free products.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
By ingredient type, the market is divided into baking enzymes, leavening agents, fats and shortenings, sweeteners, colours and flavours and preservatives.
Based on application, the industry can be segmented into bread, cake and pastries, biscuit and cookies, rolls, puffs and pies.
The competitive landscape consists of Cargill, Incorporated, Koninklijke DSM N.V., DuPont de Nemours, Inc., Ingredion Incorporated, Kerry Group plc, and EMU AG, among others.
The market is estimated to witness a robust growth in the forecast period of 2024-2032, reaching a value of around USD 29.79 billion by 2032.
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