Albany, NY, July 15, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research has published a new market study on the global baking powder market for the 2019 - 2020period. 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.
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.
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On the flip side, the easy availability of alternatives, such as baking soda, is hampering this market significantly. The increasing incidence of adverse effects of baking powder reported by consumers is also expected to hinder the market’s growth in the coming years, notes the study. The report has analyzed the global market for baking powder on the basis of the products available in the market. Phosphate-based baking powder, sodium aluminum sulfate phosphate-based baking powder, anhydrous phosphate-based baking powder, tartrate-based baking powder, phosphate-free baking powder, and aluminum-free baking powder are the major products in this market.
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.
Urbanization Plays a Key Role in the Growth of Global Baking Powder Market
Urbanization coupled with the rising trend of consuming ready-to-eat food products has fuelled the demand in the global baking powder market. Change in the eating habits has led to increased consumption of fast food among the urban population. Also, the preference for health and wellness oriented bakery products has led to the growth of the overall market. However, the use of baking soda as a substituent for baking powder will negatively affect the global baking powder market. Baking soda is alkaline in nature, and needs to be mixed with an acidic liquid such as vinegar, to release carbon dioxide. As baking powder is nothing but baking soda pre-mixed with the acidic component, baking powder is substituted by baking soda in many food preparations, which is likely to restrain the market growth. Though baking powder, which contains the chemical compound sodium bicarbonate, is generally well tolerated by the human body, the substance is associated with some adverse side effects. This can also hamper the growth of the global baking powder market. The manufacturers are focusing on innovating baking powder to offer product differentiation which will open new avenues for the market during the forecast period.
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.
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The segmentation of the global baking powder market is as follows:
Segmentation of Global Baking Powder Market, by Product
- Aluminum free
- Phosphate free
- Sodium aluminum sulfate phosphate
- Anhydrous phosphate
Segmentation of Global Baking Powder Market, by Geography
- North America
- Asia Pacific
- Rest of the World
Other Research Reports:
- Corn Starch Market:http://www.transparencymarketresearch.com/corn-starch-industry.html
- Chilled and Deli Foods Market:http://www.transparencymarketresearch.com/chilled-and-deli-food-market.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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Source:Transparency Market Research