Convenient food items have been witnessing explosive demand, primarily due to changing consumer lifestyles. Urbanization and adoption of several advanced technologies have led to busy lifestyles and the resulting demand for food products of convenience. Moreover, frozen food which is often frozen at peak freshness has been witnessing increased demand. Among this type of food are frozen bakery foods which further support the increasing demand for convenience foods. Market growth is also encouraged by the increased demand for products low in trans-fat as well as gluten-free products which have prompted market players to expand their product offerings to tap into the high demand for bakery products.
MRFR’s segmentation of the Global Baking Ingredients Market has been done based on product type, application, and region. Product types have been categorized to include emulsifiers, leavening agents, enzymes, oils, fats & shortening, colors & flavors, starch, and others. Increasing preference for products with various flavors and colors have resulted in the colors and flavors segment acquiring the largest share of the global market. Meanwhile, the emulsifiers segment is expected to witness the highest growth over the forecast period.
Prominent market participants in MRFR’s global Baking Ingredients market report include Koninklijke DSM N.V., Roquette Frères, Ingredion Incorporated, BASF SE, Cargill Incorporated, SunOpta, Omega Protein Corporation, Archer Daniels Midland Company, and Darling Ingredients Inc.
Asia-Pacific is slated to grow at the fastest pace and witness a high CAGR during the review period. Consumers in countries such as China, India, and Japan among others are increasing adopting bakery products in their diets. Innovation regarding these products to cater to the local market has greatly encouraged the growth of the bakery products sector which in turn has positively impacted demand for baking ingredients.
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