Report : Asia Pacific Baking Ingredients Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Baking Powder & Mixes, Emulsifiers, Enzymes, Starches, Colors & Flavors, Oils, Fats & Shortening, and Others) and Application (Breads & Rolls, Biscuits & Cookies, Cakes & Pastries, and Others)
Breads & Rolls Segment to Dominate APAC Baking Ingredients Market During 2021–2028
According to a new market research study on “APAC Baking Ingredients Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 7,086.66 million by 2028 from US$ 5,168.37 million in 2022. The market is estimated to grow at a CAGR of 5.4% from 2022 to 2028. The report provides trends prevailing in the APAC baking ingredients market along with the drivers and restraints pertaining to the market growth. Rising demand for functional ingredients is the major factor driving the growth of the APAC baking ingredients market. However, increasing health concerns may hamper the growth of the market hinders the growth of APAC baking ingredients market.
The APAC baking ingredients market is analyzed based on type, application, and country. Based on type, the market is segmented into baking powder & mixes, emulsifiers, enzymes, starches, colors & flavors, oils, fats & shortenings, and others. The others segment dominated the market in 2022 and emulsifiers segment is expected to be fastest growing during forecast period. Based on application, the market is segmented into breads & rolls, biscuits & cookies, cakes & pastries, and others. The breads & rolls segment dominated the market in 2022 and cakes & pastries segment expected to be fastest growing during forecast period. Based on country, the APAC baking ingredients market is segmented into China, japan, India, South Korea, Australia, and Rest of APAC.
AAK AB; ADM; Associated British Foods plc; British Bakels; Cargill, Incorporated; Corbion; Dawn Food Products Inc.; International Flavours & Fragrances; Kerry; and Koninklijke DSM N.V. are among the leading companies in the APAC baking ingredients market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Cargill, Incorporated, plans to build a new palm oil refinery in Lampung, Indonesia, to meet the growing demand for sustainable, traceable edible palm oil.
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