the market is estimated to portray a CAGR of xx% during the forecast period i.e. 2020-2030. As per the report, changing consumer lifestyles and evolving functions of baking products are likely to drive the market for baking powder in the coming years.
One of the key aspects boosting the growth of the global baking powder market is the escalating food and fast food markets. The rising intake of baked foods openly impacts the performance of the global baking powder market. The food industry uses baking powder as a hovering mediator to divulge lightness and softness to products such as cakes, waffles, tarts, pastries, etc. Nevertheless, the increasing consciousness about the health consequences of baking powder, if consumed for extended periods of time, is the prevalent challenge for manufacturers currently.
The market report on global baking powder market comprises of the following in-depth analysis:
• The estimated value of the market in 2019 was USD XXXX million.
• Based on product type, the tartrate segment emerged out as a key segment in the baking powder market across the globe.
• On the basis of application, the breads segment was the leading segment of the market across the globe.
• Region-wise, the market in Asia Pacific emerged as the leading segment in the market for baking powder.
• Key players are likely to focus on product innovations and expansion through merger to retain their positions in developed markets.
Developing markets such as Asia, Latin America, and Africa portray robust possibility for progress owing to shifting lifestyles and eating behaviors of consumers together with increasing per capita consumption. China is developing as the largest possible market for bakery products
Baking powder is primarily used to make different kinds of breads and other bakery products, such as muffins, pancakes, waffles and cakes. Baking powder is a dry chemical additive comprising of carbonate, inert filler, and weak acid. It is usually utilized in raising the level of baked products. It assists in catching the dough raised till it is created in the cooking procedure. Baking powder is a substance that includes ingredients cornstarch, dry acid, and baking soda. Supply of yeast powder have skyrocketed in current times as a result of increasing demand for fast food, baked products like cakes and pies, and quick instant mixes. This substance is gaining reputation in restaurants, bakeries and homes. This drift is dispersing round the globe as a result of rapid growth of urbanization.
Global baking powder market is segmented by product type into phosphate-based, phosphate-free, aluminum-based, aluminum-free, anhydrous phosphate, sodium aluminum sulfate phosphate, tartrate and others. Among these, the tartrate segment emerged as the key segment, holding a market share of xx% in 2019. On the basis of application, the market for baking powder is divided into breads, biscuits & cookies, cakes & pastries, pancakes, muffins, rolls & pies, waffles and others. Among these, the breads segment was observed to be the leading segment, holding xx% of the total market share in 2019. Region-wise, the market is segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific. Among these, the market in Asia Pacific is witnessed to be the key segment of the global baking powder market, acquiring xx% of the total market share in 2019.
Key Players in the Market
Some of the key players in global baking powder market are Archer Daniels Midland, John Pointon & Sons Ltd., Koninklijke DSM N.V., Kemin Industries Inc., BASF, Omega Protein Corporation, Cargill Incorporated, Darling Ingredients Inc., Ingredion Incorporated and Dow Du Pont Inc.
Get Valuable Insights into Baking Powder Market
In the new report, Fatpos Global thrives to present an unbiased analysis of the global baking powder market that covers the historical demand data as well as forecast figures for the period i.e. 2020-2030. The study includes compelling insights into growth that is witnessed in the market. The global baking powder market is segmented by product type into phosphate-based, phosphate-free, aluminum-based, aluminum-free, anhydrous phosphate, sodium aluminum sulfate phosphate, tartrate and others. The market is segmented on the basis of application into breads, biscuits & cookies, cakes & pastries, pancakes, muffins, rolls & pies, waffles and others. Region-wise, the market is segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific.