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Eating habits of people have witnessed a definite shift due to increasing disposable incomes and changing lifestyles. Furthermore, increasing urbanization has also affected food consumption patterns, leading to an increased demand for ready-to-eat foods. Fast and ready-to-eat food items such as biscuits, breads, and pastries are becoming increasingly popular in households, shops, and restaurants, which is expected to drive the demand for baking powder over the next five years. Moreover, the influence of western lifestyle in developing regions of Asia-Pacific is also driving the baking powder market in this region.
One of the key restraints for this market is the increasing threat of substitution by baking soda. Ready availability of baking soda coupled with a low level of consumer awareness regarding the difference between baking powder and soda is also having a constraining effect on the market. Increasing consumer awareness regarding the adverse effects of junk food is expected to emerge as a key challenge for this industry over the next five years.
India, China, and Brazil are expected to emerge as key regional markets for baked foods in the near future. With a strong anti-obesity attitude and increasing awareness levels for healthy foods, the demand in North America and Europe is expected to remain stagnant over the next five years. Along with increasing urbanization and influence of the western lifestyle, consumers are looking at innovation in baked goods. Innovation in the form of flavors, colors, and shapes are in great demand in the developing region of Asia-Pacific. With the growing food industry in these regions there is greater opportunity for innovation in baked goods, which in turn affects the baking powder market. Some of the leading manufacturers of baking powder include Blue Bird, Weikfield, Calumet Baking Powder Company, Clabber Girl among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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