Rapid Urbanization across Asia Pacific May Surge the Valuation of Baking Ingredients Market beyond US$ 34.60 billion by 2033: Future MarketInsights, Inc. Underscores Key Aspects of the Business

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Rapid Urbanization across Asia Pacific May Surge the Valuation of Baking Ingredients Market beyond US$ 34.60 billion by 2033: Future Market Insights, Inc. Underscores Key Aspects of the Business
Rapid Urbanization across Asia Pacific May Surge the Valuation of Baking Ingredients Market beyond US$ 34.60 billion by 2033: Future Market Insights, Inc. Underscores Key Aspects of the Business

The Asia Pacific Baking Ingredients Market is expected to advance at a CAGR of 8.9%. The rising demand for bakery products, especially cakes, cookies, and sweet baked goods, due to the rising trend of indulgent consumption is driving the growth of the baking ingredients market.

NEWARK, Del: The global baking ingredients market is expected to post a CAGR of 6.8% from 2023 to 2033. In 2023, the market size is projected to be US$ 16.99 billion. By 2033, the market size is anticipated to cross US$ 34.60 billion.

The world has been witnessing rapid urbanization. This has led to evolving consumption patterns. As people are left with no time to prepare food by themselves, they prefer consuming food from retail outlets. A lot of people prefer consuming bakery items for their breakfast. These factors are expected to surge the demand for baking ingredients during the forecast period.

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The manufacturers are making use of organic methods in order to produce the baking ingredients. Organic products are healthier as they are produced using eco-friendly methods. Most importantly, organic products do not contain pesticides. Therefore, organic products are crucial in increasing consumer confidence.

One of the key developments in recent times is that the baking ingredients are being manufactured, taking diabetic patients into consideration. The manufacturers are making use of sugar-free and gluten-free ingredients. In such a case, even diabetic patients can consume the baking ingredients.

With the advancements in technology, the manufacturers have the power to fortify the baking ingredients with different nutrients. Moreover, the manufacturers can also add different flavors, which is expected to widen the target audience. This might increase the sales of baking ingredients during the forecast period.

The FMI analysts are of the view that rapid urbanization, application of organic ingredients, specific focus on diabetic patients, ability to be fortified with nutrients and different flavors, and lots of other factors are expected to surge the baking ingredients market growth during the forecast period. 

Key Takeaways:

  • The market is expected to record a CAGR of 6.8% during the forecast period.
  • In 2023, the market valuation is projected to be at US$ 16.99 billion.
  • By 2033, the market size is anticipated to cross the mark of US$ 34.60 billion.
  • On the basis of regional analysis, North America is expected to hold the leading market share during the forecast period. In terms of CAGR, Asia Pacific is projected to hold the dominant position and is expected to register a CAGR of 8.9%.
  • The United States market is expected to be driven by massive consumption of confectionary items.
  • Europe market to surge owing to a massive intake of bread.
  • High consumption of rice cakes to fuel the growth of Japan market.
  • Traditional South Korean cuisine presents massive prospects for market growth.
  • On the basis of application, the bread segment is expected to hold the dominant market share.
  • On the basis of type, the emulsifiers segment is expected to be in a dominant position.

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Competitive Landscape

The key players operating in the baking ingredients market are expected to invest in the latest technologies in order to increase production capacity. This may also lead to the introduction of automation, which is designed to increase production capacity by more than five times. The key players are also investing in marketing and sales campaigns, as advertisements might be the most productive channel to target consumers’ taste buds. The manufacturers are also laying huge emphasis on sustainability goals. The food sector has been generating a lot of land pollution, as a result of which the manufacturers are operating on the principle of ‘Reuse and Recycle.’    

Significant developments in the baking ingredients market:

  • In November 2022, Cargill announced the acquisition of Owensboro Grain Company.
  • In December 2022, Archer Daniels Midland Company received the business sustainability award for work to expand regenerative agriculture.

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Key segments

By Type:

  • Baking Powder and Mixes
  • Oils, Fats, and Shortenings
  • Enzymes
  • Emulsifiers
  • Leavening Agents
  • Others

By Application:

  • Bread
  • Biscuits and Cookies
  • Cakes and Pastries
  • Rolls and Pies
  • Others

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • The Middle East and Africa
  • Europe

View Full Report@ https://www.futuremarketinsights.com/reports/baking-ingredients-market 

Table of Content

1. Executive Summary | Baking Ingredients Market

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

Explore FMI’s related ongoing Coverage on Food and Beverage Domain

Home Baking Ingredients Market Share: The home baking ingredients market is estimated to secure a valuation of US$ 15.6 billion in 2023 and is estimated to rise to US$ 28.2 billion by 2033. 

Baking Paper Market Size: The global baking paper market is expected to register growth at a 6% CAGR over the upcoming decade. Based on our survey results sales of baking paper is estimated to reach thousand tons, during the forecasted period between 2021 and 2031.

Bakery Mixes Market Analysis: Global bakery mixes market demand is anticipated to be valued at US$ 5,912.3 Million in 2022, forecast to grow at a CAGR of 5.3% to be valued at US$ 9,909.2Million from 2022 to 2032. 

Bakery Improvers Market Forecast: Bakery Improvers Market is expected to expand at a CAGR of 3.7%. The industry’s estimated value will increase from US$ 1,283.9 Mn in 2023 to US$ 1,846.3 Mn in 2033.

Baking Soda Substitute Market Value: The global baking soda substitute market is expected to reach a market valuation of US$ 4.1 Bn by 2022, accelerating at a CAGR of 6% during the forecast period (2022-2032), to reach a value of US$ 7.4 Bn by 2032.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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