The global home-baking ingredients industry is experiencing an impressive rate of growth during the lock-down era. With the rising demand for bakery products across the globe during the last few years, the home-baking ingredients industry has been undergoing an upsurge, with shifts in product patterns in line with emerging trends.
Generally, the bakery food segment aims to provide indulgence for customers looking for a sweet treat. Consumers shift to the category of baked goods for premium products which can be used for holidays and special occasions.
According to Barry Callebaut, the leading manufacturer in the market for bakery ingredients, around 76% of North American customers said they prefer pastries or cakes that allow them to indulge. The consumption of bakery products on any occasion fueling the growth of the global home baking ingredients market.
The demand for clean label home baking ingredients witnessing lucrative growth from last few years. The bakery space targets health and wellness-related customers. Better-for-you therapies also come with simple labels, clean claims and natural positioning.
The consumer preferring clean label bakery ingredients such as dairy-free, Non-GMO, reduced-sugar and many others. Around 38% of North America millennial consumer said that they seek out clean label products such as vegan cakes and pastries.
Individuals Spend More Time Baking During the Lockdown
While stuck at home during the ongoing coronavirus pandemic, Individuals are unleashing their inventive side. Although others have started preparing basic meals at home, many have taken up baking.
Because of the Covid-19 lockdown, there has been an increase in demand for baking ingredients such as baking powder, baking soda, cocoa powder and other toppings as consumers stuck at home have actively taken to baking.
Not just normal people, but even celebrities also experiencing bakery products at home, which encourages more people to make bakery products at home. The social media influencers, celebrities playing vital role for triggering the growth of global home baking ingredients market.
Demand for convenience and processed food is on the rise due to improving economic conditions and standard of living in both emerging and advanced economies. Hectic lifestyles, growing leisure needs, and time restrictions have driven customers to embrace processed and convenience foods.
This has stimulated demand for bakery products such as biscuits, pastries, breads, cookies, and pizza driving the demand for home baking ingredients.
Home Baking Ingredients: Key Players
Some of the key players operating in the global home baking ingredients market includes,
- General Mills Inc.
- Associated British Foods Plc.
- Koninklijke DSM N.V.
- BASF SE
- E.U. Du Pont De Nemours
- Cargill Inc.
- Flowers Foods Inc.
- Hostess Brands LLC.
- Uniferm GmbH & Co.
- George Weston Ltd and many others.
Home Baking Ingredients: Regional Analysis
Europe accounted for the largest market share of the global home baking ingredients market. The most lucrative demand for baking ingredients is expected to remain in North America and is estimated to see the fastest growth during the forecast period. Factors driving North American market growth are growing demand for packaged goods and convenience foods, along with growing health-conscious populations.
The Asia Pacific is also expected to witness lucrative growth during the forecast period. The demand for bakery products in emerging countries of Asia Pacific such as India and China is being fueled by the millennials who are demanding healthy & tasty palatable food without willing to spend much effort and time.
The home baking ingredients market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the home baking ingredients market, including but not limited to: regional markets, end-use, product type and distribution channel
The study is a source of reliable data on:
- Home baking ingredients market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The home baking ingredients market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases).
The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the home baking ingredients market report projects the attractiveness of each major segment over the forecast period.
Highlights of the Home Baking Ingredients market report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the home baking ingredients market
- Recommendations to companies for strengthening their foothold in the home baking ingredients market
Home Baking Ingredients: Market Segmentation
- Rolls & Pies
- Baking Powder & Mixes
- Leavening Agent
- Oils, Fats & Shortenings
- Convenience Store
- Specialty Stores
- Online Retailers
- Other Retailers
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