Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
A leavening agent is used in the baking ingredients industry. A leavening agent is defined as a substance used in doughs and batters that causes the release of gas from doughs. Therefore, it helps in the production of baked goods with absorbent structures. Rising health awareness around the world is acting as a major driver of the growth of the Leavening Agents market. The growing demand for better quality food products with a longer shelf life and a wide range of functional benefits associated with their inclusion in food is accelerating market growth. The change in consumer preference for healthy and gluten-free foods and the implementation of different marketing strategies are further influencing the market. Furthermore, changes in consumer lifestyles, rising disposable income, population growth, and rapid urbanization are positively affecting the yeast market. Furthermore, the use of leavening agents in food to expel the air, which in turn makes the baked product extremely delicious, is anticipated to provide ample new growth opportunities for the market over the forecast period.
A leavening agent is one of the most important ingredients in baked goods and also holds the largest share of the baked ingredients market. It is widely used in batters and doughs for the production of baked goods with an absorbent structure. There are several types of leavening agents available, of which yeast and yeast are widely used in cake preparations. The market is largely driven by the growing demand for baked goods. In addition, the growing awareness of people's health and lifestyle changes make leaveners more demanding. Rising R&D investments by various players to develop new leavening ingredients coupled with rising demand for baked food products is expected to drive the market’s growth over the forecast period. The increase in income level also plays an important role in the purchase of leavening agents. Moreover, the increasing technological advancements in the development of the product are likely to drive the growth of the market over the forecast period. An increase in healthcare expenditure and an increase in disposable income will drive the growth of the market over the forecast period. As the working population increases, the demand for quality and nutritious food also increases. Hence, significant growth is predicted for the market. Additionally, growing concerns about healthier lifestyles are increasing the demand for leavening agents as they have a variety of functional benefits associated with their inclusion in food products.
The leavening agents are in great demand in the global bakery industry due to their great influence on dough properties and baked goods. The choice of leavening products in baked goods influences the taste, texture and color of the crumb, a determining factor in the consumption of baked goods. The need for these agents is high in the bakery industry as it is used in the baking process such as cakes, buns, pies, biscuits, biscuits and other baked goods. Furthermore, the upward trend in home-made sweets and baked goods is expected to have a lasting impact on the global market and this factor is expected to create new growth opportunities for the market over the forecast period.
Extreme use of leavening chemicals like baking soda, baking powder and other products in a variety of the baked goods across regions is expected to affect the growth of the market to a significant extent. The concerns over leavening agent ratios to generate enough carbon dioxide in meals are expected to pose a major challenge to the growth of the market. Yeast markets are influenced by various circumstances, so it is a concern to balance leavening agents to create carbon dioxide in food.
The COVID-19 pandemic has affected the growth of the market to a significant extent which has created some major challenges for the market’s growth. Also, lack of information and awareness with respect to the use of leavening agents is expected to be a major challenge for the market’s growth over the forecast period.
The report provides an in-depth analysis of the global Leavening Agents market, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. With increasing demand for various leavening agents in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2029.
The global Leavening Agents market comprises of different market segment like type, applications and geography.
By type, the Leavening Agents market includes the key segments of
The biologics segment is expected to dominate the market over the forecast period due to increased sales. The biologics helps ferment sugar to produce carbon dioxide. The most commonly used biological agent is yeast. Changes in consumer eating habits and the growing demand for baked food products are the main factors driving the growth of this segment.
The chemicals segment is estimated to have the fastest growth over the forecast period. Growing consumer awareness about personal health is a major driver for the growth of the segment over the forecast period. Due to the shift in healthy lifestyles and growing global workforce, the segment is expected to grow over the estimated time period. An increase in R&D activities is an important factor that is expected to propel the growth of the segment.
The Leavening Agents market has major applications like
Food segment is expected to dominate the market with the highest growth over the estimated time period due to the growing demand for sweets and beverages. The growth of the bakery industry is expected to drive growth of the segment. Growing health awareness and lifestyle changes is expected to make the leavening agents more demanding in the upcoming years.
Personal and healthcare segment is expected to witness high growth over the forecast period due to increased demand for personal and healthcare products among consumers. The increase in disposable income, the increased demand for personal and health products and the adaptation to healthy lifestyles are other factors driving the growth of the segment.
The global Leavening Agents market is studied for the following regions
The North America region is expected to dominate the market over the estimated time period. This is the fastest growing region for leavening products owing to the existing availability of well-established bakery manufacturers in various countries like the United States, Canada, and Mexico, North America is likely to dominate the sourdough industry due to the growing demand for related products like baked goods, cosmetics, and a host of other products from key countries in the region, as well as higher population growth and processed bakery products.
Europe is expected to have significant growth due to strong demand in countries like the UK and Germany. Growing consumer purchasing power towards baked products in this region is also expected to drive the growth of the region. According to a survey by the International Baking Industry Exposition, the consumption of bakery products is the highest in Europe. In 2016, consumption of bakery products in Europe reached US$165 billion.
Asia-Pacific is expected to grow at the fastest rate over the forecast period. This is due to the growing demand for propellants in this region. An increase in disposable income in countries like China and India continues to drive the segment's growth. Moreover, the growing demand for bakery products due to the high population is also responsible for the growth of the market over the forecast period.
Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global Leavening Agents market. In addition, complete analysis of changes on the global Leavening Agents market expenditure, economic and international policies on supply and demand side is provided in this exclusive report. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The COVID-19 pandemic has affected the market in different ways. When lockdown was imposed, the supply chain was disrupted. Various shops and industries were closed, which hurt the market. This pandemic has also impacted logistics providers and farm workers. Due to the national lockdown, all bakeries have been closed. This had a negative impact on the sales trends of leavening agents. The restaurant industry across the world has seen a decline in demand for baked goods, which were once one of the most sought-after products in the industry. The booming bakery and confectionery industry along with the continuous attempts by market players to innovate new products is expected to drive the growth of the global market in the coming years.
The competitive landscape analysis of Leavening Agents market is majorly focused on expanding the global growth of leavening agents’ industry with new product innovation, business expansion, increasing presence of range of manufacturer operating in the leavening agents’ sector has led to growing demand for the market. Besides, the market offers a range of products in different application to fulfil the required demand of consumer which is further contributing to healthy growth in the market.
The key players studied in market are
June 2023: Lesaffre, a key player in the field of fermentation, intended to strengthen its presence in Brazil with the construction of a new yeast plant.
September 2022: Archer-Daniels-Midland Co. launched a new flavour production facility in China to meet growing demand for beverages and healthy foods.
By type, the Leavening Agents includes the key segments of biological, chemical and others. The biological segment is expected to dominate the market over the forecast period. The Leavening Agents market has major applications like food, personal and health care, industrial, feed and others. Food segment is expected to dominate the market with the highest growth over the estimated time period due to the growing demand for sweets and beverages. The global Leavening Agents market is studied for the following regions: North America, Europe, Asia-Pacific and Rest of the world (RoW). The North America region is expected to dominate the market over the estimated time period.
| Market Sizing for Year: | 2019-2029 |
| Base Year: | 2022 |
| Forecast Period: | 2023-2029 |
| Value: | USD
Million |
| Market Segment studied: | Type Application |
| Market Players and its Competitors: | Associated British Foods PLC Cargill, Inc Corbion N.V. Kerry Group PLC Archer Daniels Midland Co. DSM Novozymes A/S Puratos Group NV Koninklijke DSM N.V. Stern-Wywiol Gruppe GMBH Co. KG AB Mauri Food Inc. Tata Chemicals Ltd Clabber Girl Corporation Lesaffre Kudos Blends Blue Bird Foods India Pvt. Ltd. Guilin Hongxing Chemical Co.,Ltd Eagle International Hansells Food Group Limited |
FREQUENTLY ASKED QUESTIONS
What would be forecast period in the market report?
2023-2029 is the forecast period in the market report
Which is the leading application segment for Leavening Agents market?
Food application has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
Which region is gaining majority of market share during the forecast period (2023-2029)?
North America is expected to gain major market share during the forecast period (2023-2029).
