Leavening Agents Market By Form (Biological, Chemical), By End User industry (Food, Personal and Health Care, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global leavening agents market size was $5,971.9 million in 2021 and is estimated to reach $9,198.1 million by 2031 registering a CAGR of 4.2% from 2022 to 2031. A leavening agent is a substance or ingredient whose main functions are the production, inclusion, and entrapment of gas in a dough or batter. It is the third most essential component in baking after flour and water. Surge in demand for baked food products including, cakes, breads, pastries, buns, rolls, biscuits, & loaf breads and expansion of food outlets are influencing the leavening agents market growth. Travel & tourism industry has been gaining significant momentum in most of the countries, including the U.S., Spain, Italy, and India which is further contributing to the sales of leavening agents.
Lockdown practices during the COVID-19 pandemic compelled people to remain in their homes which significantly decreased the demand for processed and bakery food products. Furthermore, disrupted export/import activities, transportation facilities, and distribution channels were further attributable to decrease in the growth of the leavening agents market in 2020.
The leavening agents market is segmented into form, end-user industry, and region. On the basis of form, the market is bifurcated into biological and chemical. According to end-user industry, the market is categorized into food, personal & healthcare, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia, and rest of LAMEA).
Region wise, the leavening agents market has been gaining traction in Asia-Pacific, and is expected to sustain this trend during the forecast period. This is majorly attributed to growth in per capita income and increase in working women population which generate the demand for convenience food, including ready-to-eat and ready-to-cook food where leavening agents are predominately used. Furthermore, growth in demand for bakery food products and rise in use of leavening agents in various applications such as personal & healthcare and animal feed are likely to boost the growth of the Asia-Pacific leavening agents market during the forecast period.
The major players operating in the market are Archer-Daniels-Midland Company, Associated British Foods Plc, Cargill, Inc., Corbion N.V., Kerry Group PLC, Koninklijke DSM N.V., Kraft Heinz Company, Novozymes A/S, Puratos Group NV, and Stern-Wywiol Gruppe GmbH Co. KG.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the leavening agents market analysis from 2021 to 2031 to identify the prevailing leavening agents market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the leavening agents market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global leavening agents market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By End User industry
- Personal and Health Care
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA
- Key Market Players
- Archer Daniels Midland Company
- Associated British Foods Plc
- Cargill Inc
- Corbion NV
- Kerry group PLC
- Koninklijke DSM NV
- Kraft Heinz Company
- Novozymes AS
- Puratos Group NV
- SternWywiol Gruppe Gmbh Co KG