Bakery Ingredients Market Anticipated Growth Expected to Reach USD 32.1 billion By 2035, Boasting a 6.3% CAGR

WILMINGTON, DE, UNITED STATES, October 22, 2024 /EINPresswire.com/ -- The global bakery ingredients market size 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.

The bakery ingredients market is driven by changing consumer lifestyles and demand for convenience, increased health and wellness awareness, and growth of artisanal and craft Bakeries.

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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.

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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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.

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.

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¹ https://www.alliedmarketresearch.com/bakery-ingredients-market
² https://www.alliedmarketresearch.com/yeast-ingredients-market-A323211
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