Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 15.23 Billion | USD 24.11 Billion | 6.4% | 2021 |
FrequentlyAsked Questions
Growing demand for bakery products is propelling the market growth. In addition to this, change in lifestyle & eating habits, increase in spending power, and increase in disposable income are some of the additional factors that are driving the market.
According to the Zion Market Research report, the global bakery ingredient market was worth about 15.23 (USD billion) in 2021 and is predicted to grow to around 24.11 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 6.4 percent.
Among the regions, Europe is expected to contribute the major share of the global bakery ingredient market during the forecast period. This is majorly due to growing consumption of confectionery & bakery products and rise in modern as well as traditional trade.
Some of the major players that are operating in the global bakery ingredient market are Kerry Group plc, Koninklijke DSM N.V., Associated British Foods plc, Archer Daniels Midland Company, Cargill, Dawn Food Products, Inc., Lallemand, IFF, Corbion, British Bakels, and AAK AB, among others.
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