Factors such as changing consumer lifestyles, preference for convenience foods, demand for gluten-free foods, and the increasing demand for natural and healthy ingredients are some of the key trends influencing the growth of the baking ingredients market.

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Based on type, the market has been segmented into emulsifiers, leavening agents, enzymes, baking powder & mixes, oils, fats & shortenings, colors & flavors, and starch. The baking powder & mixes segment dominated the market, in terms of value, in 2016. Baking powder and mixes are used in bread, cakes, waffles, muffins, and pizza crusts. The expansion of bakeries and outlets such as in-store bakeries; convenience stores; supermarket & hypermarket bakeries; artisan bakeries; and café bakeries, especially in the emerging countries such as China, are expected to be the key market drivers for the baking ingredients market in the coming years.

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In terms of application, the bread segment accounted for the largest share of the global baking ingredients market in 2016. Bread constitutes the major part of daily diets globally. The North American and European markets are the traditional consumers of bread. The Asia Pacific region is expected to be a key revenue pocket in the coming years. Rapid urbanization has led to the adoption of the hectic lifestyle in this region, thereby, boosting the demand for convenience foods. The result is the increased sale of breads in this region. Apart from this, there is an increased demand for gluten-free foods at a global level, which has, in turn, increased the demand for breads.

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Asia Pacific is projected to be the fastest-growing market for baking ingredients during the forecast period. The growth of baking ingredients in the region is attributed to the demand for bakery products in the Asia Pacific countries such as China, Australia, and India. Regional markets such as India, China, and Japan are projected to drive the growth of baking ingredients, owing to the increasing demand for packaged and convenience foods in this region. China is projected to dominate the region, in terms of both value and volume, during the forecast period, owing to the adoption of Western diets, especially among the younger population.

Market players such as Archer Daniels Midland Company (US), Koninklijke DSM N.V. (Netherlands), Cargill, Incorporated (US), BASF SE (Germany), Ingredion Incorporated (US), Roquette Frères (France), SunOpta (Canada), Darling Ingredients Inc. (US), and Omega Protein Corporation (US) have been actively strategizing their growth plans to expand in the bakery ingredients market. These companies have a strong presence in Europe and North America; they also have manufacturing facilities and a strong distribution network across these regions.

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