The baking ingredients market is projected to reach US$ 22,278.10 million by 2028 from US$ 16,444.97 million in 2022; it is expected to grow at a CAGR of 5.2% from 2022 to 2028.

Baking ingredients include flours, baking mixes, enzymes, emulsifiers, shortenings, livening agents, sweeteners, bakery inclusions & fillings, and flavors & colors. These ingredients provide strength, stability, and texture to baked goods, such as bread, rolls, cookies, biscuits, cakes, pastries, and muffins. The rising consumption of bakery products, especially in Asia Pacific, North America, and Europe, is driving the baking ingredients market growth. The increasing demand for healthy, nutritious, clean-label, and organic bakery ingredients is also contributing to the market growth.

In recent years, people have become increasingly concerned about the ingredients used in the food products they consume. Consumer preferences are shifting toward more natural, organic, and less processed food products as they perceive these products to be healthier and of superior quality than the conventional ones. Moreover, consumers believe that organic and clean-label products provide better nutritional benefits and are more sustainable than traditional products.

A few players operating in the baking ingredients market are Cargill, Incorporated; ADM; Associated British Foods plc; Koninklijke DSM N.V.; Kerry; AAK AB; British Bakels; Corbion; International Flavors & Fragrances; Dawn Food Products Inc. among few others.

The food & beverages industry is one of the key industries that faced unprecedented challenges during the COVID-19 pandemic. Lockdown and border restrictions enacted by various countries disrupted supply chains, which affected the production and distribution of various products. Baking ingredient manufacturers faced significant challenges during the first few months of the outbreak as restaurants, cafes, and quick service restaurants (QSRs) remained closed. However, in several countries, governments permitted the sales of essential goods, which helped them keep their businesses alive.

Further, in 2021, many governments started vaccination drives and announced relaxation in containment measures such as lockdowns and travel bans. As a result, many citizens of various countries are fully vaccinated. Baking ingredients manufacturers are focusing on scaling up their production to boost revenues, and incorporating more natural, organic, clean-label, non-GMO, and plant-based ingredients into their products to cater to the emerging health and wellness trends, especially those associated with the COVID-19 outbreak.

Based on type, the baking ingredients market is segmented into baking powder & mixes; emulsifiers; enzymes; starches; colors & flavors; oils, fats, and shortening; and others. Based on application, the market is segmented into breads & rolls, biscuits & cookies, cakes & pastries, and others. Based on geography, the baking ingredients market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).

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