The report, from Transparency Market Research, is called Baking Powder (Phosphate, Anhydrous Phosphate, Sodium Aluminum Sulfate Phosphate, Tartrate, Aluminum-free, Phosphate-free& Others) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019.
The global baking powder market witnessed growth in recent years due to growing fast food industry. In addition, rapid urbanisation, coupled with preference for health-oriented bakery products, is also one of the major growth drivers for the baking powder industry.
Substitution by baking soda and adverse effects of baking powder are the major growth barriers to the market growth. However, new product launches are stimulating market growth.
In 2012, the global baking powder market by product type was dominated by tartrate baking powder, which accounted for 30.4% of the overall share in terms of revenue, followed by phosphate-based baking powder that accounted for 24.5% of the market share in terms of revenue.
Nowadays, due to increasing health concerns, people avoid usage of aluminium-based baking powder since aluminium intake has been implicated in several health issues such as Alzheimer’s. Thus, the aluminium-free baking powder market is expected to grow at a CAGR of 6.1% in terms of revenue from 2013 to 2019.
Potassium-based baking powder is the substitute, as it can help in sodium or phosphorous salt content reduction of up to 50%. Hence, the phosphate-free baking powder market is expected to grow at a rate of 5.8% in terms of revenue from 2013 to 2019.
Asia-Pacific dominated the global baking powder market and accounted for over 36.3% of the global demand in 2012 in terms of revenue, followed by Europe, which accounted for 28.5% share for the same year in terms of revenue.
Moreover, in the future, Asia-Pacific will remain the most promising market, with an estimated CAGR of 5.6% in terms of revenue from 2013 to 2019.
Economies such as China, India and Japan are expected to be the chief contributors to this growth. Nuclear families and increase in the number of working women are some of the cultural traits that have influenced people’s lifestyle, and thus there is a shift towards ready-to-eat foods in these regions.
© FoodBev Media Ltd 2024