The bakery sector has been continuously expanding over the last few years. A rise in population, rapid urbanization, and changing consumer habits and lifestyles are shaping this sector. The demand for convenience food is increasing exponentially due to the hectic lifestyle of people. People prefer instant or ready-to-eat food to save their time and effort. Bread and baked products are the staple food in several countries. Moreover, the sector employs almost 800,000 skilled personnel, creating significant employment opportunities. Consumers prefer bakery products because they are convenient, affordable, and tasty. Bread, cakes, muffins, and doughnuts have become staples in many peoples’ diets. These factors have bolstered the demand for various baking ingredients, such as flour, sweeteners, livening agents, emulsifiers and shortening, enzymes, and flavors and colors.
Vendors in the North America baking ingredients market can attract new customers and expand their footprints in emerging markets by offering products with different characteristics or by modifying the methods of manufacturing. This factor is likely to drive the market at a notable CAGR during the forecast period.
North America Baking Ingredients Market Segmentation
The North America baking ingredients market has been analyzed on the basis of 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 the emulsifiers segment is expected to register the highest CAGR during forecast period. Based on application, the North America baking ingredients market is segmented into breads & rolls, biscuits & cookies, cakes & pastries, and others. The breads & rolls segment dominated the market in 2022, and the cakes & pastries segment is expected record the highest CAGR during forecast period. Based on country, the North America baking ingredients market is segmented into the US, Canada, and Mexico.
AAK AB; ADM; Associated British Foods plc; Cargill, Incorporated; Corbion; Dawn Food Products Inc.; International Flavours & Fragrances; Kerry; and Koninklijke DSM N.V. are among the leading companies in the North America baking ingredients market.
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| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 3,045.61 Million |
| Market Size by 2028 | US$ 4,079.12 Million |
| CAGR (2022 - 2028) | 5.0% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Baking Ingredients Market is valued at US$ 3,045.61 Million in 2022, it is projected to reach US$ 4,079.12 Million by 2028.
As per our report North America Baking Ingredients Market, the market size is valued at US$ 3,045.61 Million in 2022, projecting it to reach US$ 4,079.12 Million by 2028. This translates to a CAGR of approximately 5.0% during the forecast period.
The North America Baking Ingredients Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Baking Ingredients Market report:
The North America Baking Ingredients Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Baking Ingredients Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Baking Ingredients Market value chain can benefit from the information contained in a comprehensive market report.
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