Global Baking Ingredients Market to Witness rapid Growth thanks to Introduction of New Products

Published Date : Apr 28, 2016

The process of baking has been known to mankind since the Babylonian era and it has come a long way since then. Several baking techniques and products have been introduced in the process. Nevertheless, the basic ingredients which are required for baking have almost remained same. 

Some of the key baking ingredients are mentioned as below:

  • Honey
  • Butter
  • Flour
  • Eggs
  • Color Additives
  • Fruits
  • Nuts
  • Baking Soda
  • Yeasts
  • Baking Powder

Baked products are available in the global market at a wide range. The consumption trends of the baked products majorly dependent on the choice of the local population. Some of the bakery products are donuts, cookies, cakes, torts, biscuits, pies, bread, pastries, and chalets.

The global market for baking ingredients is majorly driven by the taste-buds and culture of different countries across the globe. In the last few years, several food habits have become similar among the overall population due to globalization; however, the consumption of staple food is not likely to change significantly in any culture. Among the major geographical segments, the U.S. and Europe are expected to continue with its dominance in the next few years. On the other hand, the changing lifestyle and increasing disposable income among the developing economies, the Asia Pacific is projected to witness substantial growth in the near future. In addition, the better distribution channels and developing technology is further expected to fuel the growth of the market in the coming years in this region.  

The global market for baking ingredients is highly competitive owing to the presence of small as well as large players operating in the market. The constant innovations and introduction of new products and combinations are some of the major efforts taken by these players to remain in the leading position in the global market. Some of the prominent players operating in the global market for baking ingredients are AAK UK, CSM, Muntons plc, British Bakels Ltd, Dawn Foods Ltd, and Taura. The overall baking industry is highly affected due to the macro-economic environment of an economy, as a decline in the consumption of upmarket baking products is observed due to economic downturns.