Global Baking Powder Market to Rise at 5.3% CAGR from 2013 to 2019, Changing Food Habits in Asia Pacific Propel GrowthApril 9, 2021
Transparency Market Research has published a new market study on the global baking powder market for the 2013-2019 period. The report says that the global baking powder market will rise at a CAGR of 5.3% from 2013 to 2019. As a result, the market’s valuation is expected to increase from US$2.3 bn in 2012 to US$3.4 bn by 2019. The report, titled “Baking Powder Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” is available for sale on the company’s website.
Baking powder is a dry chemical leavening used in a large number of baked goods. It is a mixture of baking soda, a dry acid, and sometimes cornstarch, and is used to increase the volume and lighten the texture of baked goods.
One of the major factors propelling the growth of the global baking powder market is the burgeoning food and fast food markets. The increasing consumption of baked foods directly affects the performance of the global baking powder market. The food industry utilizes baking powder as a raising agent to impart fluffiness and lightness to products such as cakes, waffles, tarts, pastries, etc. However, the rising awareness about the health implications of baking powder, if consumed for prolonged periods of time, is the biggest challenge for manufacturers presently.
The report studies the global baking powder market in terms of product and geography. By product, the segments of this market are tartrate, aluminum-free, phosphate-free, phosphate, sodium aluminum sulfate phosphate, anhydrous phosphate, and others. The tartrate segment held the highest share of 30.4% in the global market in 2012. This segment is expected to maintain its dominant position over the forecast period due to an increased preference for healthy baked foods. Phosphate-based baking powder is also a major product segment of the baking powder market; the segment held a share of 24.5% in the global market in 2012. Anhydrous phosphate and sodium-aluminum-phosphate-based baking powder collectively held a share of 28.65% in the global market in 2012.
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Geography-wise, the report segments the global baking powder market into four broad regions, namely North America, Asia Pacific, Europe, and Rest of the World. In 2012, Asia Pacific dominated the global baking powder market due to the upsurge in the population of urban regions and the changing food habits in the region. Europe and Asia Pacific together held a share of 64.8% in the global market for baking powder in 2012.
In developed countries such as the U.S., the historically stable rate of economic growth has ensured that further urbanization will not make a significant impact on the baking powder market, particularly when compared to countries such as India and China.
The report also analyzes top players in the global baking powder market, which are Kraft Foods Group Inc., AB Mauri, Ward McKenzie Pty Ltd., Weikfield Products Private Limited, Eagle International, Clabber Girl Corporation, The New England Cupboard, Kudos Blends Limited, Blue Bird Foods India Pvt. Ltd., Hansells Food Group Limited, Caravan Ingredients Inc., and ACH Food Companies Inc.