Bakery Ingredients Market To Double By 2035 Reaching $32.1 Billion On Growing Demand For Convenience Foods


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The global bakery ingredients market was valued at $15.5 billion in 2023, and is projected to reach $32.1 billion by 2035, growing at a CAGR of 6.3% from 2024 to 2035.” - Allied Market Research

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, July 9, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Bakery Ingredients Market ," The bakery ingredients market was valued at $15.5 billion in 2023, and is estimated to reach $32.1 billion by 2035, growing at a CAGR of 6.3% from 2024 to 2035.

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Bakery ingredients are a prime constituent of finished bakery food such as bread, cookies & biscuits, rolls & pies, cakes & pastries, and others. Increase in trend of healthy eating and rise preference for convenience food are the primary factors boosting the growth of the market. Prominent players and large corporates are developing their products to follow the consumer trends and boost the company growth to occupy major bakery ingredients market share.

On the basis of type, the market is divided into enzymes, starch, fiber, colors, flavors, emulsifiers, antimicrobials, fats, dry baking mix, and others. Among these, the dry baking mix segment occupied the major share of the market in 2023 and is anticipated to maintain its dominance during the forecast period. Dry baking mixes allow home bakers to create a wide range of products with minimal preparation, requiring only a few additional ingredients such as water, milk, or eggs. This ease of use appeals to a broad audience, from amateur cooks to families looking for a simple baking activity. Additionally, dry baking mixes offer a diverse product range, including cake, brownie, bread, and muffin mixes, providing consumers with variety and customization options, thus increasing the Bakery Ingredients Market Size.

The flexibility to add personal touches to pre-made mixes adds to their popularity. Dry baking mixes also have a longer shelf life, making them easier to store and distribute, which is cost-effective for both consumers and retailers. The increased trend of home baking, especially during the COVID-19 pandemic, further boosted demand for bakery ingredients industry, reinforcing the dominance of the dry baking mix segment in the bakery ingredients market.

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On the basis of application, it is fragmented into bread, cookies & biscuits, rolls & pies, cakes & pastries, and others. Among these, the bread segment occupied the major share of the market in 2023 and is anticipated to maintain its dominance during the bakery ingredients forecast period. According to Bakery Ingredients Market Analysis, Bread is a staple food in many cultures, with high and consistent consumption rates across the globe. The segment encompasses a diverse range of bread types, from traditional white and whole wheat to artisanal sourdough and flatbreads, all of which require different baking ingredients. Industrial-scale production of popular bread types contributes to the segment's demand for ingredients.

According to bakery ingredient market analysis, this high demand is also driven by bread's deep-rooted cultural traditions and baking practices, from European baguettes to Middle Eastern pita. Additionally, health trends like gluten-free and multigrain bread have spurred innovation in bakery ingredients, further expanding the market. According to bakery ingredients market trend, the retail and commercial sectors rely heavily on bread products, reinforcing the bread segment's major share in the bakery ingredient market.

Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Among these, Europe occupied the major share of the market in 2023 and is anticipated to maintain its dominance during the Bakery Ingredients Market Forecast period. Europe has established a major share of the bakery ingredients market through a combination of historical, cultural, and industry-related factors. The continent's long-standing baking tradition, featuring a diverse range of bread, pastries, and other baked goods, drives a high and consistent demand for Baking Ingredients. European countries, with their advanced food industry and sophisticated manufacturing processes, can produce large quantities of ingredients to meet industrial and artisanal bakery needs, contributing to bakery ingredients market growth.

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Innovation in product development, including gluten-free and organic options, aligns with modern health trends, adding to Europe's market dominance. Strict food safety and quality standards contribute to Europe's reputation for high-quality products, boosting exports. The cultural diversity within Europe promotes specialization in various types of bakery ingredients, catering to a wide range of consumer preferences and contributing to bakery ingredients market opportunities.

Major players operating in the bakery ingredients market include Archer-Daniels-Midland Company, Associated British Foods Plc., Cargill Incorporated, E. I. Du Pont De Nemours and Company, Ingredion Incorporated, Kerry Group, Plc., Koninklijke DSM N.V., Dawn Food Products, Inc., Bakels Group, and Lallemand Inc.

KEY FINDINGS OF STUDY

. By type, dry bakery mix segment dominated the bakery ingredients market in 2023.

. By application, bread segment dominated the bakery ingredients market in 2023.

. By region, Europe dominated the bakery ingredients market in 2023.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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