The Baking Powder and Mixes market industry is projected to grow USD Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.90% during the forecast period (2023 - 2032). Increasing consumer demand for both organic baking ingredients and convenience foods are the key market drivers accelerating market expansion.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Increase in the use of baked goods is driving the market growth.
Market CAGR for baking powder and mixes is being driven by the increase in the use of baked goods. It is well known that baking powder is a particular kind of powder that is made expressly to be used in the making of baked goods like biscuits, breads, and cookies, among others. Usually, weak acid and carbonate or bicarbonate are combined to create it.
Additionally, convenience food is becoming more and more popular, which is responsible for the rising demand for baked goods and confections. Consumers are currently choosing foods that save time in terms of procurement, preparation, and cleanup due to their busy lifestyles, extended work hours, and lack of free time. To meet the boosting demand for fresh and frozen baked goods as well as a variety of bakery supplies, a number of neighborhood bakeries, cafes, and supermarkets have sprung up in emerging nations like the US and the UK in recent years. The home bakery has been increasingly popular in low-income nations like India in recent years, indicating a greater utilization of bakery products.
Consumers' current purchasing habits are primarily shaped by growing worries about animal welfare, sustainability, and climate change, all of which have an impact on the market for baking ingredients. A growing number of people are choosing plant-based, natural food products with a lower carbon footprint over animal-based foods due to the negative effects these goods have on the environment. Vegan cakes, muffins, and pastries prepared with plant-based baking ingredients such fibers, dairy-free milk substitutes, natural colors, and tastes are in more demand as a result. Product appeal among consumers has increased due to the flavor, texture, ease of availability, extended shelf life, convenience, and health benefits of frozen bakery foods. Manufacturers of frozen baked goods now have the chance to grow their businesses due to the rising demand for their products.
For instance, In July 2020, Bakels Sweden opened a brand-new baking center. The installation of the newest Baking Center within the Bakels Group has been completed by Bakels Sweden. The Baking Center has a laboratory for product development and testing, along with three fully functional test bakeries. Thus, result in driving the Baking Powder and Mixes market revenue.
Baking Powder and Mixes Product Type Insights
The Baking Powder and Mixes market segmentation, based on Product Type includes Cookie and Biscuit Mixes, Cake, Pastry and Muffin Mixes, Bread Mixes and Others. The market for baking powder and mixes is dominated by the category of cake, pastry, and muffin mixes. It contains pre-made cake, pastry, and muffin mixes, which simplify baking delectable delicacies at home.
Baking Powder and Mixes Category Insights
The Baking Powder and Mixes market segmentation, based on Category, includes Conventional, Gluten-Free. There is a greater market demand for the conventional category in the baking and mixes market. Those who like traditional baking alternatives are more likely to prefer conventional mixtures. Since of its greater appeal, the Conventional sector dominates since it offers well-known flavors and recipes that many people enjoy.
Figure 1: Baking Powder and Mixes Market, by Category, 2022&2032(USD Billion)
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Baking Powder and Mixes Application Insights
The Baking Powder and Mixes market segmentation, based on Application includes Bread, Cookies and Biscuits, Cakes and Pastries, Rolls and Pies, Others. The category for bread, cookies, and biscuits has the biggest market share. People of all ages love the vast variety of popular baked items included in this segment, such as bread, cookies, and biscuits. These products always have a strong demand, which helps them have a bigger market share.
Baking Powder and Mixes Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Baking Powder and Mixes market area will dominate this market, because prepared and packaged goods are in higher demand. Furthermore, in the next years, it is expected that the top businesses' developments will further fuel the expansion of the baking powder and mixes market in the region.
Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure 2: BAKING POWDER AND MIXES MARKET SHARE BY REGION 2022 (USD Billion)
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Baking Powder and Mixes market has the second-largest portion of the market. There is a notable increase in demand for packaged and processed food in certain regions, which is anticipated to facilitate the market growth for baking powder. Further, the German Baking Powder and Mixes market maintained the most market share, and the UK Baking Powder and Mixes market was the European market with the quickest rate of growth.
The Asia-Pacific Baking Powder and Mixes Market is anticipated to expand between 2023 and 2032 at the quickest CAGR. This is because of the growth of the food service sector. Moreover, China’s Baking Powder and Mixes market maintained the most market share, and the Indian Baking Powder and Mixes market was the Asia-Pacific region's fastest-growing market.
Leading market players are heavily investing in R&D to expand their product lines, which will spur market expansion for baking powder and mixes. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. To grow and endure in an increasingly cutthroat and dynamic market, Baking Powder and Mixes industry must provide reasonably priced goods.
One of the main business strategies employed by manufacturers is to manufacture locally in order to reduce operating expenses in the Baking Powder and Mixes industry to help customers and expand the market segment. In recent years, the Baking Powder and Mixes industry has provided medicine with some of its biggest benefits. Major players in the Baking Powder and Mixes market, including AAK.com, Lesaffre, Cargill, Incorporated., ADM, DSM, British Bakels, Corbion, Muntons plc., DAWN FOODS LIMITED, Blue Bird Foods (India) Private Limited, Amrut International, and others, are making investments in R&D activities in an effort to raise market demand.
Cargill, Incorporated was founded in Wilmington, Delaware, and has its headquarters in Minnetonka, Minnesota. In terms of income, it is the biggest privately held firm in the US, having been founded in 1865. Among Cargill's principal activities include the buying, selling, and trading of grains and other agricultural products, including palm oil; energy, steel, and transportation trading; cattle farming and feed production; and the production of food ingredients, including starch and glucose syrup, vegetable oils, and fats, for use in ultra-processed foods and industrial applications. Additionally, Cargill has a sizable financial services division that oversees the company's financial risk management in the commodities markets. In 2019, ADM, Bunge, Cargill, LDC, COFCO Int., and Glencore Agri, the six biggest agricultural commodities merchants, pledged to keep an eye on their soy supply chains in Brazil's Cerrado.
ADM, is a worldwide food processing and commodities trading company based in Chicago, Illinois. The company processes cereal grains and oilseeds into products utilized in the food, beverage, nutraceutical, industrial, and animal feed sectors at more than 270 plants and 420 crop procurement sites. In the 2023 Fortune 500 list of the biggest American firms, ADM came in at number 35. The business also offers transportation and storage for agricultural products. ADM Trucking, Inc. and the American River Transportation Company are ADM subsidiaries. In March 2023, ADM declared that it would be expanding its North American baking mix production capacity. The decision was made in response to the growing need for bread mixes in the region.
Baking Powder and Mixes Industry Developments
For Instance, July 2022 King Arthur Baking Company introduced new goods aimed at facilitating baking and enabling everyone to bake. As a result of in-depth market research and internal insights from the previous year, the items include four new pancake mixes, Organic Masa Harina, and a gluten-free Confetti Cake mix. The baking sector has seen a boom in new consumers and strong demand for quality baking ingredient.
For Instance, April 2023 Associated British Foods launched a new range of plant-based bread mixes. The new line aims to satisfy customers who are searching for vegetarian options by using a combination of wheat and plant-based proteins in production.
For Instance, February 2023 Cargill released a brand-new range of gluten-free bread mixes for general use. The new line makes wonderful baked items and is designed to be simple to use. Starches and gluten-free flour are combined to make it.
Baking Powder and Mixes Product Type Outlook
Baking Powder and Mixes Category Outlook
Baking Powder and Mixes Application Outlook
Baking Powder and Mixes Regional Outlook
| Report Attribute/Metric | Details |
| Market Size2022 | USD XX Billion |
| Market Size 2023 | USD XX Billion |
| Market Size2032 | USD XX Billion |
| Compound Annual Growth Rate (CAGR) | 6.90% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Category, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | Â AAK.com, Lesaffre, Cargill, Incorporated., ADM, DSM, British Bakels, Corbion, Muntons plc., DAWN FOODS LIMITED, Blue Bird Foods (India) Private Limited, Amrut International, |
| Key Market Opportunities | The increasing popularity of vegetarianism and veganism among consumers |
| Key Market Dynamics | Increased use of confections and bakery goods worldwide |
Baking Powder Mixes Market Highlights:
Frequently Asked Questions (FAQ) :
In 2022, the market for baking mixes and powders was estimated to be worth USD XX billion worldwide.
During the forecast period of 2023–2032, it is anticipated that the worldwide market would grow at a CAGR of 6.90%.
North America held the most market share worldwide.
AAK.com, Lesaffre, Cargill, Incorporated, ADM, DSM, British Bakels, Corbion, Muntons plc., Dawn Foods Limited, and Blue Bird Foods (India) Private Limited are the major companies in the market.
The Cake, Pastry and Muffin Mixes category dominated the market in 2022.
The Conventional held the biggest market share worldwide.
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
