The baking ingredients market size was estimated at USD 16.6 billion in 2021 and is expected to grow at a CAGR of 6.0% from 2021 to 2026. The market is expected to reach USD 22.3 billion by 2026.

There has been a significant rise in the consumption of bakery goods due to the growing popularity of convenient foods caused by contemporary lifestyle-influenced consumption modifications. The appearance, taste, texture, smell, shelf life, and fortification of baked goods significantly impact consumers purchasing decisions. While the pricing of bakery items strongly impacts older consumers, younger consumers are more influenced by the quality of the bakery products.