India Baking Ingredients Market Size & Outlook, 2023-2030
India baking ingredients market, 2017-2030 (US$M)
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India baking ingredients market highlights
- The India baking ingredients market generated a revenue of USD 759.3 million in 2023 and is expected to reach USD 1,341.1 million by 2030.
- The India market is expected to grow at a CAGR of 8.5% from 2024 to 2030.
- In terms of segment, baking powder & mixes was the largest revenue generating product in 2023.
- Enzymes is the most lucrative product segment registering the fastest growth during the forecast period.
Baking ingredients market data book summary
| Market revenue in 2023 | USD 759.3 million |
| Market revenue in 2030 | USD 1,341.1 million |
| Growth rate | 8.5% (CAGR from 2023 to 2030) |
| Largest segment | Baking powder & mixes |
| Fastest growing segment | Enzymes |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Emulsifier, Yeast, Enzymes, Baking powder & mixes, Oils, fats & shortenings, Colors & Flavours, Starch, Preservatives |
| Key market players worldwide | Flowers Foods Inc, JM Smucker Co, Grupo Bimbo SAB de CV ADR, Nestle SA, Aryzta, Tiger Brands Ltd, General Mills Inc, Mondelez International Inc Class A, Koninklijke DSM NV, Associated British Foods PLC |
Other key industry trends
- In terms of revenue, India accounted for 4.5% of the global baking ingredients market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China baking ingredients market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,341.1 million by 2030.
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Baking Ingredients Market Scope
Baking Ingredients Market Companies
| Name | Profile | # Employees | HQ | Website |
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India baking ingredients market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to baking ingredients market will help companies and investors design strategic landscapes.
Baking powder & mixes was the largest segment with a revenue share of 26.92% in 2023. Horizon Databook has segmented the India baking ingredients market based on emulsifier, yeast, enzymes, baking powder & mixes, oils, fats & shortenings, colors & flavours, starch, preservatives covering the revenue growth of each sub-segment from 2017 to 2030.
As per UN, India’s population is expected to surpass China by 2024 and the disposable incomes of middle class group in India is expected to triple over the years. The increase in purchasing power of the generation staying in metros and their preference for ready-to-eat is driving the demand for new baked products in India.
It is also supported by the fact that the market is witnessing a social change in the lifestyle of the people. The consumers in urban areas try new items such as frozen desserts, cream rolls, pastries and cakes.
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Our clientele includes a mix of baking ingredients market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the India baking ingredients market , including forecasts for subscribers. This country databook contains high-level insights into India baking ingredients market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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India baking ingredients market size, by product, 2017-2030 (US$M)
India Baking Ingredients Market Outlook Share, 2023 & 2030 (US$M)
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