Baking Ingredients Global Market 2016 to 2020

Wiseguyreports.com research analysts have estimated the global baking ingredients market to grow steadily at a CAGR of more than 5% over the forecast period.

PUNE, INDIA, April 8, 2016 /EINPresswire.com/ -- This market research study presents a detailed segmentation of the global baking ingredients market¹ by product type (flavors and enhancers, sweeteners, colorants, emulsifiers, enzymes, yeast, baking powder, and fat replacers) and by geography (APAC, Europe, North America, and ROW). The key vendors in the market are Archer-Daniels-Midland, ABF, Cargill, DuPont, Ingredion, and Kerry Group.

Overview of the baking ingredients market
The market research analysts have estimated the global baking ingredients market to grow steadily at a CAGR of more than 5% over the forecast period. The increasing demand for multigrain bread is one of the key factors driving the growth of this market during the forecast period. In response to an augmented response for multigrain and whole-wheat products, many bakeries are now specializing in only in multigrain products. For instance, in 2013, Cargill’s Horizon Milling brand introduced the sprouted white spring whole wheat flour. Similarly, artisanal bakeries are focusing on specialty bread that uses grains rather than only wheat. Moreover, whole grains absorb more liquid and need a reducing mixture. These formulations also require functional ingredients like gluten and oxidation agents, and adjustments to the baking temperature and time. With the increasing demand for whole-wheat bread, consumers are looking out for a new taste and health benefits of bread. Therefore, the rising popularity of whole wheat and multi-grain bread will spur the growth prospects of the baking ingredients market in the coming years.

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In this industry research report, the analysts have estimated factors such as growing preference for naturally derived sweeteners to fuel the demand for baking ingredients over the forecast period. The rising awareness about the harmful effects of artificial sweeteners has led to the growing adoption of stevia, a popular sugar substitute. Stevia is derived from the plant of the same name. The active compounds present in the plant is about 150 times sweeter than sugar and has a negligible effect on blood glucose levels. Furthermore, Stevia does not have any of the side effects associated with artificial sweeteners. Therefore, the widespread availability and growing preference for natural products like stevia, monk fruit, and sweet proteins, and other naturally derived sweeteners will aid in the growth of this market until the end of 2020.

Product segmentation and analysis of the baking ingredients market
- Flavors and enhancers
- Sweeteners
- Colorants
- Emulsifier
- Enzymes
- Yeast
- Baking Powder
- Fat replacers

During 2015, the flavors and enhancers segment dominated the market and accounted for more than 34% of the market share. Factors such as the increasing number of food manufacturers and bakery products manufacturers will drive this market segment’s growth in the coming years.

Geographical segmentation and analysis of the baking ingredients market
- APAC
- Europe
- North America
- ROW

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During 2015, Europe dominated the baking ingredients market and accounted for more than 37% of the market share. As the people in Europe prefer commercially prepared bakery products that require minimum preparation time, the demand for baking ingredients is expected to increase over the forecast period. Moreover, fat replacers and artificial sweeteners are some of the fastest-growing categories in Europe. Furthermore, most European consumers are very health conscious thereby fuelling the demand for bakery products made with whole grains, which will, in turn, aid in the growth of the baking ingredients market in Europe.

Competitive landscape and key vendors
The global market for baking ingredients is highly fragmented and is characterized by the presence of large and small vendors. The market is highly competitive, with all players competing to gain a greater market share. Intense competition and frequent changes in consumer preferences constitute significant risks for vendors. These vendors compete on the basis of numerous factors such as price, quality, product differentiation, distribution, and promotion. Vendor performance in the global baking ingredients market may be impacted by the changing consumer spending pattern and preferences due to increasing disposable incomes and changing lifestyles.

Key vendors in this market are -

- Archer-Daniels-Midland
- Associated British Foods (ABF)
- Cargill
- DuPont
- Ingredion
- Kerry Group

Other prominent vendors in the market are AAK, Bakels, Corbion, IFFCO Poultry, Lesaffre, Novozymes, Puratos Group, Taura Natural Ingredients, and Tate & Lyle.

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Norah Trent
WiseGuy Research Consultants Pvt. Ltd.
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¹ https://www.wiseguyreports.com/reports/global-baking-ingredients-market-2016-2020