North America 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)

The North America baking ingredients market is expected to grow from US$ 3,045.61 million in 2022 to US$ 4,079.12 million by 2028; it is estimated to grow at a CAGR of 5.0% from 2022 to 2028.

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 Revenue and Forecast to 2028 (US$ Million)

 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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1. AAK AB
2. ADM
3. Associated British Foods plc
4. Cargill, Incorporated
5. Corbion
6. Dawn Food Products Inc.
7. International Flavours & Fragrances
8. Kerry
9. Koninklijke DSM N.V.

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