Market Research Report
Global Baking Powder Market - 2022-2029
|Global Baking Powder Market - 2022-2029|
Published: May 7, 2022
Content info: 190 Pages
Delivery time: 2 business days
The global baking powder market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Baking powder is a dry leavening agent typically composed of baking soda, cornstarch, and cream of tartar. Carbon dioxide gas is generated in the form of bubbles when it reacts with a liquid, which allows the dough used to make baked goods to rise. Baking powder is a key ingredient in bakery items such as bread, tarts, pies, pastries, biscuits, and cakes. Baking powder of good quality is necessary for improved flavor, color, and texture in baked goods. As a result, the market's demand has been stable throughout the last few years. Despite customer preferences for healthier foods, baking powder is ubiquitous in the food processing business. The global baking powder market is predicted to grow as consumer demand for baked goods rises.
The ready-to-eat trend is growing, and it includes a healthier approach to bread products
Urbanization has generated demand in the global baking powder market, along with the trend of intake of ready-to-eat food. Fast food consumption in urban populations has increased due to changes in eating habits. Also, the general market has grown due to a preference for health and wellness-oriented bakery products. As health and wellness awareness increases, consumer demand for a balanced diet is met through high-fiber bread, nutrition bars, and breakfast cereals. This health and wellness-oriented food requires baking powder as an ingredient, increasing demand. Furthermore, consumers are relying more on ready-to-eat and convenient foods like pizzas, donuts, hamburgers and cakes. Therefore, the trend of consuming junk food is leading to an increased demand for powdered cooking worldwide.
Conversely, more and more health-conscious people are demanding a balanced diet, such as nutritional bars, high-fiber bread and breakfast cereals. Market growth is expected as these foods require baking powder. Large retailers like Wal-Mart and Tesco buy large quantities of baking powder directly from the manufacturer, so they enjoy market savings by eliminating distributors in the supply chain. Because the usage of baking powder by the consumer is very small, manufacturers are channeling their products via wholesalers or retailers. Therefore, the bargaining ability of buyers is estimated to rise in the future. Manufacturers are focusing on innovative baking powders to provide product differentiation that will open up a new shape for the market during the forecast period.
On the other hand, the use of baking soda as an alternative to baking powder has a negative impact on the global baking powder market. Another factor challenging the demand for yeast powder is that people's awareness of the side effects of eating junk foods such as cakes, hamburgers, and pizza is increasing as concerns about the high fat, calorie, and sugar content of junk food and the lack of vitamins, proteins and minerals in these food increase, people are unable to consume them.
Tartrate segment held the highest market revenue in 2021
Tartrate is used as anti-caking agent in bakery products in order to prevent the food from lumps formation. Moreover, tartrate is also used in confectionary for keeping freshness. These factors are estimated to drive the growth of the tartrate segment.
Based on the application, the bread segment held the highest market revenue share of XX% in 2020. Bread is predicted to account for the lion's share of the market among end consumers. Companies that make bread are constantly improving their production techniques and methods in order to provide higher nutritional value and lower costs. Bread is typically marketed to price-conscious people all over the world and is regarded as a necessary food item. Because baking powder remains an essential ingredient in the sector, it has offered attractive expansion opportunities. Furthermore, bakeries strive to develop innovative products, particularly bread in a variety of tastes, in order to meet the health needs of customers.
Asia -Pacific is the dominating region in the global baking powder market.
The baking powder market is expected to be dominated by Asia Pacific. The expansion of the food service business, as well as the mushrooming of bakeries in high-potential regions, will help Asia Pacific thrive. Consumers in the region are also showing a larger inclination to spend on breads, cookies, and pastries as a result of shifting eating patterns. Asia Pacific will emerge as a prominent market for baking powder as a result of the aforementioned considerations. Baking powder is also a significant business in North America and Europe. Both regions exhibit significantly high demand for packaged and processed food, which is expected to aid the expansion of the bakery powder market.
The New England Cupboard, Ward McKenzie Pty Ltd., Weikfield Products Private Limited, Eagle International, Caravan Ingredients, Inc., Kudos Blends Limited, and ACH Food Companies Inc. are some of the major competitors in the global baking powder industry. Jungbunzlauer, for example, has introduced a healthy baking powder based on potassium bicarbonate or microencapsulated glucono-delta-lactone and sodium, which is one of the world's leading makers of biodegradable ingredients. These combinations produced excellent baking results while lowering salt contribution to zero. A flurry of similar events is predicted to occur shortly, allowing the global industry to expand. DSM N.V has launched new products under the brand name Bakezyme Go Pure which has been added to the enzyme baking product portfolio.
Negative impact on the global baking powder market.
Consumers' changing eating patterns, which favor processed and packaged foods, have helped the business gain traction in recent years. The demand for processed and packaged food is expected to rise as COVID-19 tightens its noose worldwide. Consumers have evolved a distinctive practice of accumulating critical supplies during the current crisis. As a result, consumers who spend significant periods alone choose food with a longer shelf life. Because the baking powder is frequently a major ingredient in packaged foods, increased demand in the packaged and processed food categories is likely to stifle growth in the baking powder market.
Understand the current market scenario and viability of global baking powder over the forecast period
Visualize the composition of the global baking powder market in terms of type, category and application to identify major players, growth potential, and market strategies
Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Excel data sheet with valuable data points of the global baking powder market- Regional and Country level segmentation
Product mapping in excel for the key products of all major market players
Market Share Analysis covering business revenues ($) and revenue share (%) of key market players
The global baking powder market report would provide an access to approximately 60 market data tables, 57 figures and 190 pages
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