Published By : 04 Aug 2016 | Published By : QYRESEARCH
The market for baking powder is fragmented with various small and medium sized players operating. Companies are also enhancing their sales through online portals along with conventional distribution channels through wholesalers, supermarkets, wal-mart, and mass merchandizers. Thus, the sale of baking powder is expected to rise. Transparency Market Research (TMR) in its recently published research study has estimated the baking powder market to rise from US$2.3 bn in 2012 to US$3.3 bn by 2019.
Rising Demand for Ready-to-Eat Foods Drive Sales of Baking Powder
The growing urbanization across the globe has led to an increasing consumption of ready-to-eat meals and junk foods. The rise in the population of working women has also aggravated the demand for convenient and quick foods. Pizzas, doughnuts, breads, and burgers are increasingly being preferred by people owing to busy lifestyle. This in turn is favoring the global demand for baking powder, as baking powder is an important ingredient in breads, pizzas, pastries, cakes, and burgers.
It has also been observed that an increasing number of health conscious people are demanding for nutrition bars, well-balanced meals, health oriented bakery products, and high fiber breads. These products require baking powder for their manufacturing, thus driving the global baking powder market. Rise in obesity, diabetes and other such health issues are behind the heighted demand for health oriented food products.
Growing Awareness Regarding Adverse Effects of Junk Food to Hamper Market’s Growth
The increasing awareness regarding the adverse effects of junk food consumption has led to a reduced demand for baking powder. The highest demand for junk food was from Europe and the U.S., wherein an increasing number of people are suffering from high cholesterol levels, obesity, and diabetes. As such, the demand for bakery products and junk food is significantly falling, affecting demand of baking powder.