Leavening Agents Market Growth & Trends
The global leavening agents market size is expected to reach USD 7.7 billion by 2028, registering a CAGR of 3.7% during the forecast period, according to a new report by Grand View Research, Inc. Increasing investment in R&D by various players to develop new leavening agents coupled with the increasing demand of bakery products are likely to drive market growth. Moreover, rising technological advancements in developing leavening agents are likely to drive market growth during the assessment period.
Leavening Agents Market Segmentation
Grand View Research has segmented the global leavening agents market based on application, form, and region:
Based on the Application Insights, the market is segmented into Food, Personal & Health Care, Others.
- Food contributed to the highest share of around 70% of the global market revenue in 2021 owing to its increasing demand for baked goods and beverages. The growth of the baked goods market is driving the segment market for food leavening agents. Increasing health awareness and changing lifestyles makes the market for food leavening agents more demanding in the future.
- Personal & health care will register the highest growth during the forecast period due to increasing demand. Increasing disposable incomes, rising demand for personal & health care products, and adaptation towards healthy lifestyles are other factors driving the segment growth.
Based on the Form Insights, the market is segmented into Biological, Chemical, Others.
- The biological segment contributed to the highest share of over 65% of the global market revenue in 2021 owing to its increasing sales. It helps in fermenting sugar to produce carbon dioxide. The most widely used biological agent is yeast. Changes in consumer food habits and increasing demand for bakery products are the major factors driving the growth of this segment.
- Chemical is estimated to register the fastest growth with a CAGR of 4.0% from 2022 to 2028. Rising consumer awareness regarding personal health is a major factor driving segment growth during the forecast period. Also, due to changing lifestyles toward health and the increasing working population globally, the segment is estimated to show growth during the assessment period. R&D is an important success driver for chemical leavening agents.
Leavening Agents Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East and Africa (MEA)
Key Companies Profile & Market Share Insights
Companies' focus is on innovating new applications of leavening agents to meet the increasing demand. New players are entering the market owing to low market entry barriers and higher market potential. The increasing demand for leavening agents offers an opportunity for product development in regions of high demand.
Some of the prominent players operating in the global leavening agents market include,
- Archer Daniels Midland Co.
- Associated British Foods PLC
- Cargill, Inc
- Corbion N.V.
- Kerry Group PLC
- Novozymes A/S
- Puratos Group NV
- Koninklijke DSM N.V.
- Stern-Wywiol Gruppe GMBH Co. KG
Order a free sample PDF of the Leavening Agents Market Intelligence Study, published by Grand View Research.
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