The bakery ingredients global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Bakery Ingredients Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 in the historic period can be attributed to increased demand for convenient foods, rising popularity of artisanal and specialty baked goods, expansion of the retail and foodservice sectors, increase in disposable income, urbanization, and busy 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 in the forecast period can be attributed to rising health consciousness, expanding e-commerce channels, innovative product offerings, growth in emerging markets, and rising demand for customization and premium products. Major trends in the forecast period include clean label ingredients, sustainability and eco-friendly practices, technology integration, automation and digital tools in production, and advanced processing techniques.
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Scope Of Bakery Ingredients Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Bakery Ingredients Market Overview
Market Drivers –
The increasing consumption of convenience foods is expected to boost the growth of the bakery ingredients market going forward. Convenience food is food that has been frozen, dried, or canned and can be heated and made quickly and easily. Bakery ingredients play a crucial role in enhancing convenience foods’ quality, texture, and flavor—pre-prepared or easy-to-cook meals designed for quick and efficient consumption. For instance, in July 2023, according to Food and Drinks Malaysia by SAIL Group, a food and beverage exhibition in Malaysia, the convenience food sector increased by 3.0% in volume in 2023 and is expected to reach 7,829.2 kg by 2027. Further, in Malaysia, the revenue from convenience food amounts to US$31.84 billion in 2022, which is expected to increase by 5.49% during 2022–2027. Therefore, increasing consumption of convenience foods is driving the growth of the bakery ingredients market.
Market Trends –
Major companies operating in the bakery ingredients market are focusing on innovation in ingredient formulation, such as traceable active sourdough, to meet rising consumer demand for transparency, authenticity, and healthier, high-quality baked goods. Traceable active sourdough is made with a documented and transparent fermentation process, ensuring the origin and quality of its ingredients are verifiable throughout production. For instance, in May 2024, Puratos, a Belgium-based company specializing in innovative ingredients and solutions for the bakery, launched Sapore Lavida, the first fully traceable active sourdough produced in Belgium. It is made with 100% whole wheat flour from regenerative agriculture. This new ingredient enables bakers across mainland Europe to address the growing demand for locally created, sustainably sourced sourdough. Sapore Lavida has a tangy flavor profile with fruity, balanced lactic and acetic undertones. It also increases fiber content in white bread applications.
The bakery ingredients market covered in this report is segmented –
1) By Product Type: Emulsifiers, Leavening Agents, Enzymes, Baking Powder And Mixes, Oils, Fats And Shortenings, Colors And Flavors, Starch, Other Products
2) By Form: Dry, Liquid
3) By Application: Bread, Cookies and Biscuits, Rolls And Pies, Cakes And Pastries, Other Applications
4) By End Users: Industrial, Foodservice, Retail
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Regional Insights –
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.
Key Companies –
Major companies operating in the bakery ingredients market are Cargill Incorporated, Archer Daniels Midland Company, Associated British Foods plc, Südzucker 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
Table of Contents
1. Executive Summary
2. Bakery Ingredients Market Report Structure
3. Bakery Ingredients Market Trends And Strategies
4. Bakery Ingredients Market – Macro Economic Scenario
5. Bakery Ingredients Market Size And Growth
…..
27. Bakery Ingredients Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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