Baking Ingredients Market Size likely to cross almost USD 21.08 Billion Globally by end of 2028

Some of the key players in the Baking Ingredients Market are British Foods Limited, Cargill, Inc, Royal DSM N.V., Kerry Group plc, Corbin N.V., British Bakels Ltd, Muntons plc, AAK UK, Dawn Foods Ltd, Taura, CSM, Caravan Ingredients, crust ‘n’ crumb food ingredients Pvt Ltd. and Empire Baking Company among others. According to Zion Market Research, The Global?Baking Ingredients?Market size, and share accounted for almost?USD 14.98 Billion in 2020?and is likely to cross almost?USD 21.08 Billion by end of 2028, developing at a?CAGR of almost 5.0%

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Report Coverage:

• Market growth drivers
• Restraints
• Opportunities
• Porter’s five forces analysis
• PEST analysis
• Value chain analysis
• Regulatory landscape
• Market attractiveness analysis by segments and region
• Company market share analysis
• COVID-19 impact analysis

?The Global Baking Ingredients Market is segmented as follows:

By Type

• Leavening agents
• Fats & shortenings
• Colors & flavors
• Baking powders & mixes
• Emulsifiers
• Starch
• Enzymes
• Oil
• Other

By Applications

• Cakes & pastries
• Bread
• Rolls & pies
• Biscuits & cookies
• Other

Global Baking Ingredients Market Size: Growth Factors

The baking ingredients market size is expected to rise in response to the rising demand for?ready-to-eat?foods. In developing markets, the transition from traditional home-cooked food to convenience foods has raised the demand for these baking products. Thereby, providing various growth opportunities in the market. Moreover, the adoption of a westernized lifestyle, dual-income households, a focus on healthy lifestyles, increased wellness awareness, and a rise in disposable income are the main factors driving the baked foods industry's expansion, which will fuel demand for baking ingredient manufacturers.

Baking Ingredients Market: Regional Analysis Preview

North America dominated the overall baking ingredients market in 2020 and is expected to continue its dominance over the forecast period. The baking industry contributes significantly to the US economy, raising more than $30 billion in sales in 2013. In the United States, there are 2,800 private bakeries and 6,000 retail bakeries. This graphic depicts the industry's scale and size. Despite the fact that there are many bakeries in the United States, the top four producers account for 35% of industry sales and commercial producers account for 91% of the total revenue. Moreover, various strategies adopted by the major player also support the growth of the market. For instance, recently, Grupo Bimbo acquired Sara Lee and Weston Bread Unit, making it the largest baked 6 goods company in the US. The aforesaid reasons are some of the key factors contributing to the growth of the market.

Asia Pacific region is expected to grow at the fastest rate during the forecast period. For instance, the bakery industry in India is the largest segment of the food processing industry and has enormous growth potential. More than 2,000 organized or semi-organized bakeries produce 1.3 million tonnes of bakery products in India, while 1,000,000 unorganized small-scale bakeries produce 1.7 million tonnes.

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