The global baking ingredients market is projected to cross USD 34.60 billion by 2033. The FMI analysts are of the view that the market is expected to record a CAGR of 6.8% from 2023 to 2033. The market size is anticipated to be at USD 17.92 billion in 2023.
Vital factors that might propel the development are:
The increasing pace of urbanization has led to the introduction of various kinds of dishes, especially from the Western part of the world. Lots of developing countries, especially in the Asia Pacific region have started consuming these delicacies on an incremental basis as these do not take much time to prepare. This is believed to be one of the primary factors for the increase in consumption of such food products, as urbanization has led to long working hours, which has resulted in a sedentary lifestyle. Thus, a lot of office goers may just grab a few pieces of pastries or doughnuts, which could possibly fill their appetite till lunch breaks. Such influences are expected to surge the demand for baking ingredients during the forecast period.
Surprisingly, even the COVID-19 pandemic has led to increased consumption of bakery products as a lot of people started pursuing cooking as a hobby. A huge chunk of them was involved in learning to cook bakery and confectionary items. There were a lot of crazes, especially for preparing pancakes during the lockdown.
The sales of baking ingredients are expected to surge as these assist in increasing the shelf life of the products. This has resulted in regulating the usage of resources, which has also helped the companies achieve cost-cutting. The application of baking ingredients also adds a certain degree of freshness to the products. The ingredients are available in different flavors as well, which is expected to increase the customer baseline.
The introduction of eCommerce and in-retail stores has propelled the market growth even more. The in-retail stores have an element of accessibility and ease of purchase, which has propelled the adoption of these cooking ingredients. The E-commerce sector has helped simplify purchases and provides numerous options, which has enhanced consumer strength.
North America is expected to hold the dominant market share during the forecast period. Owing to a busy lifestyle, a lot of people have been consuming food while on the move. This has led to increased adoption of pastries, pocket wraps, calzones, etc. Asia Pacific region is expected to hold a significant market share based on the CAGR. The Asia Pacific market is expected to advance at a CAGR of 8.9%, and this can be mainly attributed to rapid urbanization in the region.
Attributes | Details |
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Baking Ingredients Market Value (2022) | USD 16.99 billion |
Baking Ingredients Market Expected Value (2023) | USD 17.92 billion |
Baking Ingredients Market Forecast Value (2033) | USD 34.60 billion |
Baking Ingredients Market Expected CAGR (2023 to 2033) | 6.8% |
In order to maintain a higher growth rate, the manufacturers have started developing eatables specifically for diabetic patients. This is expected to have a huge impact on the market as the products that have been developed are sugar-free. This move has opened the doors to serve 206 million diabetic patients worldwide, which is expected to have a massive impact on the market. Such innovative products are expected to surge the demand for baking ingredients during the forecast period. The historical CAGR for the market was 5.1%, while the anticipated CAGR is 6.8%.
Health Issues Pose Threat towards Market Growth
The baking ingredients are a source of trans-fats. High consumption of trans-fats can lead to diabetes, heart problems, and obesity. This is owing to the fact that these are devoid of proteins. Even if the baking ingredients do not contain trans-fats, they might contain refined flour and sugar. Refined flours have many of their nutrients and fiber removed, which might lead to the metabolism getting affected.
In the current times, many people have developed the hobby of preparing bakery items by themselves. One of the biggest drawbacks of preparing bakery items at home is that it is a time-consuming process, as a result of which people might lose interest after some time.
The United States is witnessing increased consumption of convenience food. Owing to hectic and sedentary lifestyles, people have started consuming food that takes less time to prepare. The increase in the number of bakery shops can be attributed to a surging demand for fresh bakery goods with varied ingredients. The palatability, affordability, and increased nutritional value are expected to surge the market growth during the forecast period. This is also supported by the presence of key players in the region, as a result of which high-quality bakery ingredients are accessible.
Europe is currently the dominant bread market. In 2023, the bread market in Europe is expected to hold a valuation of USD 126 billion. The best part about this market is that the cakes and bakeries segment is the leading sector in the bread market. The ability to be customized and be rich in taste and nutrition is expected to drive market growth. The growth of bakery ingredients is further bolstered by the presence of varied flavors which might serve a large variety of segments.
Japan is currently one of the leading players in the rice cakes market. The rice cake market in Japan is expected to be valued at USD 129 million in 2023. Its chewy texture and nutty flavor make it quite popular, especially among children. As per the customer demand, these can be fortified with the necessary nutrients as well. The bakery ingredients are used in the rice cakes to increase the shelf life. The bakery ingredients also assist in providing lots of flavors, which is believed to be a crucial aspect for increasing the market share of rice cakes.
South Korea is meant for its traditional dish, ‘yaksik.’ It is a common staple on almost every occasion. People consume yaksik in high numbers owing to its nutritional quality and taste as well. This cake is prepared using bakery ingredients in order to enhance the shelf life and emulsify the product. Moreover, people across South Korea also consume ‘Ggul tteok,’ which is expected to further surge the market growth during the forecast period. These honey cakes are expected to surge the market growth as these as well make use of bakery ingredients in large quantities.
The emulsifiers segment is expected to hold the dominant market share during the forecast period. Key benefits pertaining to the production of emulsifiers are their low production cost, fermentation activity, high shelf life, and improved stability offered by dough. Moreover, the emulsifiers help in mixing two liquids, which is believed to be quite important for developing new flavors. The emulsifiers are also used as thickening agents, thereby providing a particular texture to the bakery product.
The bread segment is expected to be highly sought-after during the forecast period. It is a staple food in many countries, especially across Europe. The growth is supported by affordable pricing and high nutritional content. The manufacturers have started focusing more on brown bread, and these are targeted especially towards health-conscious customers as these are rich in protein. The availability factor is also one of the key drivers of the bread as these are easily accessible.
The start-ups operating in the market are coming up with innovative ideas. They have been selling subscription boxes and individual products. The method has been adopted across beverages, condiments, and dry snacks. To increase sales, they are also maintaining tie-ups with eCommerce players.
Faasos: The start-up operates on the basis of the cloud-kitchen model and has been serving vegetable rolls and cakes. Faasos has been garnering a lot of attention owing to its ability to deliver food and maintain strategic partnerships with all the leading B2B food solution companies. In October 2021, Rebel Foods, the parent company of Faasos, raised USD 175 million in the Series F funding round, which was led by Qatar Investment Authority.
The key players operating in the bakery ingredients market are focusing on enriching their offerings using probiotics. There has been an increased demand for probiotic food as well. To meet the growing expectations, the key players are investing huge amounts in developing production facilities. In February 2023, Archer Daniels Midland Company opened a state-of-the-art production facility in Spain to meet the growing demand for probiotics. The company had invested more than USD 30 million to build this facility.
Important developments in the bakery ingredients market:
Dominant players in the market:
Company | Description |
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Archer Daniels Midland Company | Archer Daniels Midland Company has been unlocking the power of nature to improve the quality of high-performance of human life. Being a premier global human and animal nutrition company, the company has been delivering solutions with an eye on the future. The company has the image of being a cutting-edge innovator and leads the way to a new future of plant-based consumer and industrial solutions. From the seed of the idea to the outcome of the solution, the company has been giving an edge to the customers living the sustainability challenges. |
Cargill Inc. | Cargill Inc. has been bringing food, agricultural, financial, and industrial products to people who need them the most. Having served the market for more than a century and a half, the company has been applying its expertise to serve customers and communities across 70 countries. The company employs 155,000 workers to nourish the world in a safe, responsible, and sustainable way. The company has been mainly into providing business-to-business solutions and has been providing effective solutions to transform raw materials into finished goods. |
Associated British Foods | Associated British Foods is a highly diversified group and covers a wide range of food and ingredients businesses. The purpose of the company has always been to provide safe, nutritious, and affordable food and clothing, which is great value for money. The company has always worked hard to create long-term value for its shareholders. The core strategy is to achieve sustainable growth over the long term, increasing shareholder value through sound commercial and responsible business decisions. |
Other key players profiled: E. I. du Pont de Nemours and Co., BASF SE, Kerry Group Plc., Ajinomoto Corporation Inc., Bakels, Dawn Food Products, AngelYeast Co., Ltd., Döhler GmbH, Ingredion Incorporated, Lonza Group AG, Chr. Hansen Holding A/S, and Lallemand Inc.
Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033
Table 2: Global Market Volume (Tonnes) Forecast by Region, 2018 to 2033
Table 3: Global Market Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 4: Global Market Volume (Tonnes) Forecast by Product Type, 2018 to 2033
Table 5: Global Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 6: Global Market Volume (Tonnes) Forecast by Application, 2018 to 2033
Table 7: Global Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 8: Global Market Volume (Tonnes) Forecast by Distribution Channel, 2018 to 2033
Table 9: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 10: North America Market Volume (Tonnes) Forecast by Country, 2018 to 2033
Table 11: North America Market Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 12: North America Market Volume (Tonnes) Forecast by Product Type, 2018 to 2033
Table 13: North America Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 14: North America Market Volume (Tonnes) Forecast by Application, 2018 to 2033
Table 15: North America Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 16: North America Market Volume (Tonnes) Forecast by Distribution Channel, 2018 to 2033
Table 17: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 18: Latin America Market Volume (Tonnes) Forecast by Country, 2018 to 2033
Table 19: Latin America Market Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 20: Latin America Market Volume (Tonnes) Forecast by Product Type, 2018 to 2033
Table 21: Latin America Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 22: Latin America Market Volume (Tonnes) Forecast by Application, 2018 to 2033
Table 23: Latin America Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 24: Latin America Market Volume (Tonnes) Forecast by Distribution Channel, 2018 to 2033
Table 25: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 26: Europe Market Volume (Tonnes) Forecast by Country, 2018 to 2033
Table 27: Europe Market Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 28: Europe Market Volume (Tonnes) Forecast by Product Type, 2018 to 2033
Table 29: Europe Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 30: Europe Market Volume (Tonnes) Forecast by Application, 2018 to 2033
Table 31: Europe Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 32: Europe Market Volume (Tonnes) Forecast by Distribution Channel, 2018 to 2033
Table 33: Asia Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 34: Asia Pacific Market Volume (Tonnes) Forecast by Country, 2018 to 2033
Table 35: Asia Pacific Market Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 36: Asia Pacific Market Volume (Tonnes) Forecast by Product Type, 2018 to 2033
Table 37: Asia Pacific Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 38: Asia Pacific Market Volume (Tonnes) Forecast by Application, 2018 to 2033
Table 39: Asia Pacific Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 40: Asia Pacific Market Volume (Tonnes) Forecast by Distribution Channel, 2018 to 2033
Table 41: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 42: MEA Market Volume (Tonnes) Forecast by Country, 2018 to 2033
Table 43: MEA Market Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 44: MEA Market Volume (Tonnes) Forecast by Product Type, 2018 to 2033
Table 45: MEA Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 46: MEA Market Volume (Tonnes) Forecast by Application, 2018 to 2033
Table 47: MEA Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 48: MEA Market Volume (Tonnes) Forecast by Distribution Channel, 2018 to 2033
Figure 1: Global Market Value (US$ Million) by Product Type, 2023 to 2033
Figure 2: Global Market Value (US$ Million) by Application, 2023 to 2033
Figure 3: Global Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 4: Global Market Value (US$ Million) by Region, 2023 to 2033
Figure 5: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 6: Global Market Volume (Tonnes) Analysis by Region, 2018 to 2033
Figure 7: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 8: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 9: Global Market Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 10: Global Market Volume (Tonnes) Analysis by Product Type, 2018 to 2033
Figure 11: Global Market Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 12: Global Market Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 13: Global Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 14: Global Market Volume (Tonnes) Analysis by Application, 2018 to 2033
Figure 15: Global Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 16: Global Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 17: Global Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 18: Global Market Volume (Tonnes) Analysis by Distribution Channel, 2018 to 2033
Figure 19: Global Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 20: Global Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 21: Global Market Attractiveness by Product Type, 2023 to 2033
Figure 22: Global Market Attractiveness by Application, 2023 to 2033
Figure 23: Global Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 24: Global Market Attractiveness by Region, 2023 to 2033
Figure 25: North America Market Value (US$ Million) by Product Type, 2023 to 2033
Figure 26: North America Market Value (US$ Million) by Application, 2023 to 2033
Figure 27: North America Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 28: North America Market Value (US$ Million) by Country, 2023 to 2033
Figure 29: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 30: North America Market Volume (Tonnes) Analysis by Country, 2018 to 2033
Figure 31: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 32: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 33: North America Market Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 34: North America Market Volume (Tonnes) Analysis by Product Type, 2018 to 2033
Figure 35: North America Market Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 36: North America Market Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 37: North America Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 38: North America Market Volume (Tonnes) Analysis by Application, 2018 to 2033
Figure 39: North America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 40: North America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 41: North America Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 42: North America Market Volume (Tonnes) Analysis by Distribution Channel, 2018 to 2033
Figure 43: North America Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 44: North America Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 45: North America Market Attractiveness by Product Type, 2023 to 2033
Figure 46: North America Market Attractiveness by Application, 2023 to 2033
Figure 47: North America Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 48: North America Market Attractiveness by Country, 2023 to 2033
Figure 49: Latin America Market Value (US$ Million) by Product Type, 2023 to 2033
Figure 50: Latin America Market Value (US$ Million) by Application, 2023 to 2033
Figure 51: Latin America Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 52: Latin America Market Value (US$ Million) by Country, 2023 to 2033
Figure 53: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 54: Latin America Market Volume (Tonnes) Analysis by Country, 2018 to 2033
Figure 55: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 56: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 57: Latin America Market Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 58: Latin America Market Volume (Tonnes) Analysis by Product Type, 2018 to 2033
Figure 59: Latin America Market Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 60: Latin America Market Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 61: Latin America Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 62: Latin America Market Volume (Tonnes) Analysis by Application, 2018 to 2033
Figure 63: Latin America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 64: Latin America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 65: Latin America Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 66: Latin America Market Volume (Tonnes) Analysis by Distribution Channel, 2018 to 2033
Figure 67: Latin America Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 68: Latin America Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 69: Latin America Market Attractiveness by Product Type, 2023 to 2033
Figure 70: Latin America Market Attractiveness by Application, 2023 to 2033
Figure 71: Latin America Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 72: Latin America Market Attractiveness by Country, 2023 to 2033
Figure 73: Europe Market Value (US$ Million) by Product Type, 2023 to 2033
Figure 74: Europe Market Value (US$ Million) by Application, 2023 to 2033
Figure 75: Europe Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 76: Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 77: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 78: Europe Market Volume (Tonnes) Analysis by Country, 2018 to 2033
Figure 79: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 80: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 81: Europe Market Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 82: Europe Market Volume (Tonnes) Analysis by Product Type, 2018 to 2033
Figure 83: Europe Market Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 84: Europe Market Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 85: Europe Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 86: Europe Market Volume (Tonnes) Analysis by Application, 2018 to 2033
Figure 87: Europe Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 88: Europe Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 89: Europe Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 90: Europe Market Volume (Tonnes) Analysis by Distribution Channel, 2018 to 2033
Figure 91: Europe Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 92: Europe Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 93: Europe Market Attractiveness by Product Type, 2023 to 2033
Figure 94: Europe Market Attractiveness by Application, 2023 to 2033
Figure 95: Europe Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 96: Europe Market Attractiveness by Country, 2023 to 2033
Figure 97: Asia Pacific Market Value (US$ Million) by Product Type, 2023 to 2033
Figure 98: Asia Pacific Market Value (US$ Million) by Application, 2023 to 2033
Figure 99: Asia Pacific Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 100: Asia Pacific Market Value (US$ Million) by Country, 2023 to 2033
Figure 101: Asia Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 102: Asia Pacific Market Volume (Tonnes) Analysis by Country, 2018 to 2033
Figure 103: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 104: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 105: Asia Pacific Market Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 106: Asia Pacific Market Volume (Tonnes) Analysis by Product Type, 2018 to 2033
Figure 107: Asia Pacific Market Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 108: Asia Pacific Market Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 109: Asia Pacific Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 110: Asia Pacific Market Volume (Tonnes) Analysis by Application, 2018 to 2033
Figure 111: Asia Pacific Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 112: Asia Pacific Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 113: Asia Pacific Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 114: Asia Pacific Market Volume (Tonnes) Analysis by Distribution Channel, 2018 to 2033
Figure 115: Asia Pacific Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 116: Asia Pacific Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 117: Asia Pacific Market Attractiveness by Product Type, 2023 to 2033
Figure 118: Asia Pacific Market Attractiveness by Application, 2023 to 2033
Figure 119: Asia Pacific Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 120: Asia Pacific Market Attractiveness by Country, 2023 to 2033
Figure 121: MEA Market Value (US$ Million) by Product Type, 2023 to 2033
Figure 122: MEA Market Value (US$ Million) by Application, 2023 to 2033
Figure 123: MEA Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 124: MEA Market Value (US$ Million) by Country, 2023 to 2033
Figure 125: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 126: MEA Market Volume (Tonnes) Analysis by Country, 2018 to 2033
Figure 127: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 128: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 129: MEA Market Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 130: MEA Market Volume (Tonnes) Analysis by Product Type, 2018 to 2033
Figure 131: MEA Market Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 132: MEA Market Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 133: MEA Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 134: MEA Market Volume (Tonnes) Analysis by Application, 2018 to 2033
Figure 135: MEA Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 136: MEA Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 137: MEA Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 138: MEA Market Volume (Tonnes) Analysis by Distribution Channel, 2018 to 2033
Figure 139: MEA Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 140: MEA Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 141: MEA Market Attractiveness by Product Type, 2023 to 2033
Figure 142: MEA Market Attractiveness by Application, 2023 to 2033
Figure 143: MEA Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 144: MEA Market Attractiveness by Country, 2023 to 2033
The baking ingredients market is worth USD 17.92 billion in 2023.
The baking ingredients market is expected to be worth USD 34.60 billion by 2033.
The baking ingredients market is rising at a 6.8% CAGR through 2033.
Europe’s baking ingredients market holds a valuation of USD 126 billion in 2023.
The emulsifiers segment leads the baking ingredients market.
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