Rising demand for bakery goods and convenience foods propels the raising agents market consistent growth. With a projected USD 31 billion valuation by 2021 and an estimated 3.1% CAGR, it’s anticipated to reach USD 43 billion by 2032.
The raising agents market refers to the industry involved in the production and distribution of substances used to help dough and batter rise during baking. Raising agents play a crucial role in the baking process by releasing gases that create air pockets, resulting in a lighter and fluffier texture in baked goods.
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Over the years, the increased demand for bakery items, confections, and convenience foods has driven a constant expansion of the raising agent market. A rise in prepared food tastes, changing consumer lifestyles, and increased disposable money have all contributed to the market’s growth.
It is projected that the raising agents market would grow to USD 31 billion by 2021. From 2022 to 2032, it is probably going to accelerate at a strong 3.1% CAGR. This is expected to drive the market’s valuation to an enormous USD 43 billion by 2032.
However, the demand for raising agents continues to descend with emergence of egg alternatives and substitutes such as lemon juice. According to a recently published forecast study by Future Market Insights, the global market for raising agents is poised to expand at a moderate pace in the foreseeable future.
Key insights from the study reveal, The global raising agents industry is expected to register a value CAGR of 3.1% for the forecast period, 2017-2026 In terms of volume, the study estimates that by the end of 2026, over 33,00,000 tonnes of raising agents will be sold across the globe The demand for raising agents will witness a considerable traction on the back of their effective applications in production of confectionaries
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Confectionary Product Applications to Register Fastest Revenue Growth at 3.6% CAG The study has highlighted the rising applications of raising agents in the confectionary businesses. Manufacturers of confectionary products in several parts of the world are using up a considerable share of raising agents being produced in the world. The report estimates that in 2017, US$ 5.4 billion worth of raising agents sold across the world were accounted by confectionary product applications.
The report also reveals that the demand for raising agents namely, cream of tartar and baking soda, will gain equivalent traction by registering a value CAGR of 3.2% individually for the forecast period. During this period, baking powder will lose its prevalence as a sought-after raising agents. Acidity issues and rancid tastes arising from excessive use of baking powder as raising agents will continue to lower its demand in the global market. On the other hand, the report also reveals that organic agents will register highest revenue growth, bringing in more than US$ 5 billion by 2026-end.
Europe to Represent Leading Consumer Marketplace for Raising Agents The consumption of raising agents through direct or indirect sales is expected to be high in European countries. In 2017, Europe’s raising agents industry was estimated to be valued at nearly US$ 11 billion. The report further revealed that in the same year, direct sales & wholesalers accounted for more than US$ 9 billion revenues procured in the global raising agents industry. Increasing consumption of confectionaries, prevalent demand for baked goods, and easy access to natural raising agents are observed to drive the growth of Europe’s raising agents market during the forecast period.
The report also estimates that several leading companies producing raising agents on a global scale will be aiming at expanding their businesses across European countries. Weikfield Products Private Limited, Caravan Ingredients Inc., ACH Food Companies Inc., Davis, Clabber Girl Corporation, Rumford, Foodchem International Corporation, Newseed Chemical Co. Limited, McCormick & Company Inc., and (Tártaros Gonzalo Castello SL) Mitsubishi Corporation, are observed as the key players in the global raising agents industry. These companies are expected to drive the global production of raising agents through 2026.
Segmentation of Raising Agents Market
Region :
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
Product Type :
- Baking Powder
- Baking Soda
- Cream of Tartar
- Organic Agents
- Others
Sales Channel :
- Direct Sales & Wholesalers
- Modern Grocery Retailers
- Independent Grocery Retailer
- Non-Store Retailers
Application :
- Bakery Products
- Confectionery Products
- Biscuits and Crackers
- Packaged Food Products
- Fried Food Products
- Other Food Products
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Frequently Asked Questions
- How much is the raising agents market currently worth?
- At what CAGR is the market expected to grow?
- How was the performance in the last five years?
- What is the key trend boosting sales for raising agents?
- How are market players reacting to the new developments in the market?
- Which are the major countries driving demand for raising agents?
- Who are the major players in the Raising agents Market?
- What outlook does North America provide?
- At what rate will the baking soda market grow?
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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