India Bakery Ingredients Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.11 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Bakery Ingredients Market Analysis
The Indian bakery ingredients market is projected to register a CAGR of 9.11% over the next five years.
The scope of incorporation of health-efficient ingredients in bakery products is leading to new product launches and market expansion activities. Many manufacturers are introducing clean-label ingredients, such as non-GMO and non-gluten products, to allure customers who are looking for healthy alternatives, along with the taste of baked goods. In India, bakery products, due to their significant nutrient value and affordability, are highly consumed. The trend pertaining to baked goods in India has shifted from traditional bread consumption to the increasing consumption of other bakery goods, such as pancakes, cupcakes, croissants, and rolls.
Additionally, the industry is witnessing dramatic changes in the choices of bread, thus, pushing bakers to use innovative ingredients and introduce functional variants, such as brown and multi-grain bread. The demand for whole wheat, light (low calorie), natural, and additive-free ingredients has also expanded dramatically as a result of the emerging trends of "natural nutrition," "healthy living," and "organic products." Growing sales of whole wheat, wholemeal, and gluten-free bakery ingredients in recent years are a key sign of this new market trend toward wellness. During the projection period, the growing accessibility of these specialty bakery goods would further support market expansion.
India Bakery Ingredients Market Trends
The Sweeteners Segment is Growing at a Faster Pace
Consumption of bakery products in India is increasing owing to a rise in disposable income, a more working population, and the adoption of Western culture. sweet bakery products, like cakes, pastries, and other products, are consumed in more quantity. India is also importing bakery products due to an increase in demand for bakery products. Since the demand is increasing, the use of sweeteners is also increasing as they do not add any value to the product and are healthy for consumption. Among sweeteners, stevia, monk fruit, and other natural sweeteners are in demand due to their nutritional and functional properties. Indian farmers are opting for growing stevia plants due to higher input costs and the absence of standard crop cultivation practices. Additionally, there needs to be traditional know-how for stevia plantations in the country. To help these farmers, the National Medicinal Plants Board (NMPB) announced a 30% subsidy on the cost of production in 2021. To help these farmers, the National Medicinal Plants Board (NMPB) announced a 30% subsidy on the cost of production in 2021.
Surging demand for Functional Bakery Products
The growing prevalence of healthy living among Indians has indeed diversified the consumer space with subthemes, ranging from fitness to food ingredients owing to an increase in lifestyle-related diseases like diabetes. According to forecasts from the International Diabetes Federation, 98 million Indians may have diabetes by 2030. Consumers have stepped up to upgrade their lifestyles with every possible convenience available in the market, resulting in the surging demand for value-added fortified bakery products, including bread and cookies. Amid the emerging economy and growing sense of awareness, consumers are readily differentiating the products placed on market shelves, based on the ingredients used during formulation. This has resulted in consumers revamping their preferences from conventional foods, such as white bread and cream biscuits, to a better and more health-effective choices, like brown bread and digestive biscuits.
Anticipating the burgeoning functional bakery market, bakery manufacturers are coming up with health-oriented food products. For instance, home-grown brand Parle Products offers NutriCrunch, directly challenging the country's leading Britannia NutriChoice range, to capture a 15% market share of functional foods in India. The growing competition among food companies is further benefiting the market for functional bakery ingredients. Moreover, food manufacturers are equally addressing the parallel concerns and consumers' constraints associated with bakery products, highlighting the limitation of cereal allergies. Food companies are heavily investing in rollingl out products encountering such restraints with claims, such as Gluten-free, non-GMO, etc. Ingredient manufacturers are constantly working to expand their portfolio of functional ingredients, to capture the emerging market.
India Bakery Ingredients Industry Overview
The India bakery ingredients market is competitive and fragmented, with a monopoly of competitors including, Cargill Incorporated, The Archer Daniels Midland Company, Koninklijke DSM NV, Associated British Foods PLC, General Mills Inc., Puratos NV, and British Bakels Ltd, among others. The major strategies adopted by the companies operating in the Indian bakery ingredients market are product innovation and expansion. The players are focusing on introducing new products, such as organic, clean-label, and low-calorie items, in the market in order to cater to the interests of the consumers. Moreover, consumers prefer innovation, in terms of flavors, and fortification associated with flours, sweeteners, colors, and other additives.
India Bakery Ingredients Market Leaders
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Cargill, Incorporated
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Archer Daniels Midland
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Associated British Foods PLC
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Puratos NV
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Koninklijke DSM NV
*Disclaimer: Major Players sorted in no particular order
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India Bakery Ingredients Market News
- January 2022: Cargill announced that it opened its first innovation center in India to develop solutions for the food and beverage market. This innovation center is spread over almost 17,000 square feet and includes a sensory lab and demonstration kitchen with capabilities to serve dairy, beverage, bakery, and convenience food industries.
- October 2021: Cargill launched a soluble rice flour, SimPure 92260, globally, that exhibits similar taste, texture, and functionality as maltodextrin, which is an ingredient commonly used as a bulking agent and flavor carrier. This ingredient carries similar qualities to maltodextrin and can be used in various applications including bakery.
- October 2021: Koninklijke DSM NV, acquired First Choice Ingredients, a leading supplier of dairy-based savory flavorings. The company ferments and blends a variety of natural dairy products to develop clean label, dairy, and dairy-based savory flavorings for taste and functional solutions across a wide range of applications, including bakeries.
India Bakery Ingredients Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumption and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Baking Enzymes
5.1.2 Leavening Agents
5.1.3 Fats and Shortenings
5.1.4 Sweeteners
5.1.5 Colors and flavors
5.1.6 Preservatives
5.1.7 Other Types
5.2 Application
5.2.1 Breads
5.2.2 Cakes and Pastries
5.2.3 Rolls and Pies
5.2.4 Cookies and Biscuits
5.2.5 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Cargill Incorporated
6.3.2 The Archer Daniels Midland Company
6.3.3 Koninklijke DSM NV
6.3.4 Associated British Foods PLC
6.3.5 General Mills Inc.
6.3.6 Puratos NV
6.3.7 Tate & Lyle PLC
6.3.8 Ornima Bakery
6.3.9 British Bakels Ltd
6.3.10 Ingredion Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
India Bakery Ingredients Industry Segmentation
The ingredients used in baking and making bakery products are called bakery ingredients. They are intended to bring about taste, flavor, and freshness and increase the shelf life of baked commodities. The Indian bakery ingredients market is segmented on the basis of type and applications. By type, the market is segmented into baking enzymes, fats and shortenings, leavening agents, emulsifiers, enzymes, sweeteners, colors and flavors, preservatives, and other types. By application, the market is segmented into bread, cakes and pastries, rolls and pies, cookies and biscuits, and other applications. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Type | |
| Baking Enzymes | |
| Leavening Agents | |
| Fats and Shortenings | |
| Sweeteners | |
| Colors and flavors | |
| Preservatives | |
| Other Types |
| Application | |
| Breads | |
| Cakes and Pastries | |
| Rolls and Pies | |
| Cookies and Biscuits | |
| Other Applications |
India Bakery Ingredients Market Research FAQs
What is the current India Bakery Ingredients Market size?
The India Bakery Ingredients Market is projected to register a CAGR of 9.11% during the forecast period (2024-2029)
Who are the key players in India Bakery Ingredients Market?
Cargill, Incorporated, Archer Daniels Midland, Associated British Foods PLC, Puratos NV and Koninklijke DSM NV are the major companies operating in the India Bakery Ingredients Market.
What years does this India Bakery Ingredients Market cover?
The report covers the India Bakery Ingredients Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Bakery Ingredients Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Bakery Ingredients in India Industry Report
Statistics for the 2024 Bakery Ingredients in India market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Bakery Ingredients in India analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Bakery Ingredients Market in India Report Snapshots
