U.S. Baking Ingredients Market Size & Outlook, 2023-2030
U.S. baking ingredients market, 2017-2030 (US$M)
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U.S. baking ingredients market highlights
- The U.S. baking ingredients market generated a revenue of USD 3,323.0 million in 2023 and is expected to reach USD 5,083.0 million by 2030.
- The U.S. market is expected to grow at a CAGR of 6.3% 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 3,323.0 million |
| Market revenue in 2030 | USD 5,083.0 million |
| Growth rate | 6.3% (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, U.S. accounted for 19.7% 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 North America, U.S. baking ingredients market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 608.3 million by 2030.
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Baking Ingredients Market Scope
Baking Ingredients Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 27.42% in 2023. Horizon Databook has segmented the U.S. 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.
The consumer in the U.S are changing perceptions towards heathy diet, which also incorporates an increase in the consumption of Baking Ingredients. This is possible through more and more manufacturers trying to achieve clean labels on their food products.
Achieving clean labels require replacing synthetic raw materials with ingredients from natural sources. Availability of food products with clean labels is also contributing to the growth of this market. The on-the-go food lifestyle in the country is boosting the use of baking ingredients market over the forecast period.
The convenience and easy to carry options offered by the bakery manufacturers such as pocket rolls, wraps among others is also an additional factor boosting the baking ingredients market.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. baking ingredients market , including forecasts for subscribers. This country databook contains high-level insights into U.S. baking ingredients market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. baking ingredients market size, by product, 2017-2030 (US$M)
U.S. Baking Ingredients Market Outlook Share, 2023 & 2030 (US$M)
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