Global Baking Ingredients Market: Ever-changing Food Habits of Consumers to Influence Growth, says TMR
As per a new report by Transparency Market Research (TMR), the global market for baking ingredients is highly influence by the ever-changing food habits of consumers around the world. The research study, titled “Baking Ingredients Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013–2019,” offers an unbiased assessment of this market on the basis of the key trends, opportunities, and growth prospects. The growing consumption of baked food is fueling the demand for baking ingredients significantly across the world, notes the study.
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On the flip side, the implementation of strict regulations, internationally, regarding the quality standard of baking ingredient products, is likely to reflect negatively on the sale of these ingredients in the years to come. The ambiguity over trans-fatty acids content and its effect on health conditions is also expected to hamper the usage of baking ingredients, globally, over the next few years. However, the growing influence of the western culture, where baked food, such as bread and cakes, is an important part of consumers’ daily diet, on developing economies in Asia Pacific and the Rest of the World is projected to offer growth opportunities to market players in the near future, states the research report.
In this research report, the global market for baking ingredients has been studied on the basis of the type of product, application, and the geography. Based on the type of product, the market has been classified into leavening agents, oils, fats and shortenings, colors and flavors, emulsifiers, baking powder and mixes, enzymes, and starch. Baking powder and mixes have been witnessing a strong demand from consumers across the world.
Based on application, the global market for baking ingredients has been categorized into cakes and pastries, rolls and pies, cookies and biscuits, and bread. Among these, breads, due to their high consumption, register a greater demand for baking ingredients.
Geographically, the report segments the market into North America, Europe, Asia Pacific, and the Rest of the World. Owing to the high demand for baked food in western nations, North America and Europe have acquired the leading position in this market.
Analysts have also examined the competitive landscape of the global market for baking ingredients in this research study. Using SWOT analysis and other analytical tools, they have also determined the current hierarchy of this market. As per the report, Corbion N.V., Kerry Group Plc, Aarhuskarlshamn (AAK), Taura Natural Ingredients Ltd., Associated British Foods Plc, Royal DSM N.V., Dawn Food Products Inc., British Bakels Ltd., Cargill Inc., and Muntons Plc are the leading producers of baking ingredients across the world.