Leavening Agents Market To Hit Value .7 Billion By 2028 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on December 5th, 2022 The global leavening agents market size is expected to reach USD 7.7 billion by 2028, registering a CAGR of 3.7% during the forecast period, according to a new report by Grand View Research, Inc. Increasing investment in R&D by various players to develop new leavening agents coupled with the increasing demand of bakery products are likely to drive market growth. Moreover, rising technological advancements in developing leavening agents are likely to drive market growth during the assessment period. The market is majorly driven by increasing demand for baked products. Also, rising health consciousness among people and changing lifestyle makes the product more demanding. A leavening agent is one of the important ingredients in bakery products and holds the highest share in the market. It is widely used in batters and dough to produce baked products with absorbent structure. Various types of leavening agents are available of which baking powder and yeast are widely used in pie preparations. Food contributed the highest share around 70% of the global market revenue in 2021 owing to its increasing demand for baked goods and beverages. Increasing the application of leavening agents in various health products is likely to favor segment growth. The growth of the baked goods market is driving the segment market for food leavening agents. Increasing health awareness and changing lifestyles makes the market for food leavening agents more demanding in the future. The biological segment contributed to the highest share of over 65% of the global ’ market revenue in 2021 owing to its increasing sales. It helps in fermenting sugar to produce carbon dioxide. The most widely used biological agent is yeast. Changes in consumer food habits and increasing demand for bakery products are the major factors driving the growth of this segment. The COVID-19 pandemic has had a substantial influence on the whole food and beverage sector, including the bakery business. This epidemic has led to widespread industrial halts and supply chain disruptions, affecting the economy as well. Due to the lockdown across the world, there was high demand for non-edible products such as hand sanitizers, toilet paper, and paper goods, among others. The supply chain in the bakery industry was disrupted due to a halt in operating units and a shortage of labor. Due to the lockdown, logistical capabilities were disrupted, which impacted the global market. Another factor that influenced the market was the scarcity of raw materials, which resulted in poor product manufacturing. During the virus's spread, supply chain disruptions, labor shortages, and insufficient raw supplies had a significant influence on the global market. Europe made the largest contribution to the market in 2021 due to high demand in the U.K. and Germany. Also, the increasing purchasing power of the consumers towards bakery products in this region will drive the segment growth. As per a survey carried out by International Baking Industry Exposition, consumption of bakery products is highest in Europe. In 2016, Europe’s bakery consumption reached USD 165 billion. Owing to this reason the demand for a leavening agent is witnessing an increasing trend in this region. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/leavening-agents-market-report/request/rs1 A leavening agent is one of the important ingredients in bakery products and also holds the highest share in the baking ingredient market. It is widely used in batters and dough to produce baked products with absorbent structure. Various types of leavening agents are available of which baking powder and yeast are widely used in pie preparations. An increase in health expenditure and a surge in disposable income will boost market growth during the forecast period. With the increasing working population, there is rising demand for quality and nutritional food. Hence, the market is projected to showcase significant growth. Moreover, growing concerns for a healthier lifestyle are increasing the demand for leavening agents as it has a wide variety of functional benefits associated with their inclusion in food products. Leavening Agents Market Report Highlights
Leavening agents are in great demand in the worldwide baking industry due to their major impact on dough characteristics and final baked items. The choice of leavening products in bakery products affects the flavor, texture, and color of the crumb, which is a crucial factor in baked-goods consumption. The need for leavening agents is high in the bakery sector since it is utilized in the baking process such as pies, rolls, cakes, biscuits, cookies, and other baked goods. Additionally, the rising trend of confectionary and home-baked products is expected to have a long-lasting impact on the global market. In the worldwide bakery sector, manufacturers face fierce rivalry, forcing them to introduce new goods on a regular basis in a variety of flavors and textures. Manufacturers also use a variety of flours in their manufacturing lines, which drives up the demand for leavening agents in various concentrations in their goods. On the other side, the market for leavening acid is being constrained by the rising demand for natural products among health-conscious customers. Companies participating in this market have been doing substantial research and development to produce new leavening agent products in the food and beverage sector. The COVID-19 pandemic has also affected the market in various regions. As lockdown was imposed, the supply chain was disturbed. Various businesses and industries were closed which adversely affected the market. This pandemic has also impacted logistics suppliers and farmworkers. Due to the nationwide lockdown, all the bakery shops were closed. This adversely affected the sales of leavening agents. The foodservice sector witnessed a fall in the demand for bakery products across the world, which were formerly regarded as one of the most in-demand items in the industry. The rise in the bakery and confectionery sector, as well as ongoing attempts by market participants to innovate new products, will fuel worldwide market expansion in the coming years. List of Key Players of Leavening Agents Market
Like it? Share it! More by this author |