Fluffiness and airy insides of baked items are their key characteristics which drive their consumption. To achieve this distinct feature, manufacturers of baked goods and several other products use raising agents in production methods. The effectiveness of these agents in filling air and gas into the baking mixtures continues to create a steadfast demand for raising agents in the food & beverage industry. However, emergence of egg alternatives and growing use of substitutes such as lemon juice are observed as key impediments for growth of the global raising agents market. According to Future Market Insights’ recent study, the global raising agents market is estimated to register expansion at a CAGR of 2.7% in terms of volume for the forecast period, 2017-2026. The study further projects that by the end of 2026, global sales of raising agents will bring in nearly US$ 36 billion in revenues.
Increasing Use of Raising Agents in Production of Confectionary Products to Drive Market Growth
The report observes that raising agents are finding lucrative grounds for sales growth on the back of their effective applications in the confectionary businesses. Producing confectionary products with the use of raising agents is gaining traction across the global food production landscape. Over the forecast period, sales of raising agents across confectionary applications are expected to register a global value CAGR of 3.9%, reflecting fastest revenue growth. Fried fish product applications of raising agents are also likely to gain considerable traction in terms of revenues. The report, however, observes a declining demand for raising agents in bakery product applications. Nonetheless, bakery applications of raising agents will continue to account for largest chunk of the global revenue pie, registering a one-fourth share on global market value by 2026-end.
Global Sales of Cream of Tartar to Bring in over US$ 21.5 Bn by 2026-end
The demand for raising agents is expected to remain highly concentrated at baking soda and the cream of tartar. While the cream of tartar is expected to bring in nearly 60% of global raising agents market value throughout the forecast period, sales of baking soda are pegged to register revenue growth at 3.2% CAGR. The report also reveals a dwindling demand for baking powder, wherein consumers are using less amounts of baking powder as raising agents to avoid the risks of high acidity levels. Over the forecast period, the sales of raising agents are slated to remain concentered at direct sales and wholesales. In 2017, direct sales and wholesalers accounted for nearly US$ 9.5 billion of global market revenues. The report further reveals that majority of manufacturers in the global raising agents market will be interested in signing long-term supply partnerships with wholesalers. Modern grocery retailers are also observed to emerge as key sales channel in the global raising agents market, and will register a value CAGR of 3.8% over the forecast period.
Key Producers of Raising Agents
The report has profiled leading companies partaking in the expansion of the global raising agents market through 2026. Weikfield Products Private Limited, ACH Food Companies Inc., Caravan Ingredients Inc., Clabber Girl Corporation, Davis, Rumford, McCormick & Company Inc., Newseed Chemical Co. Limited, (Tártaros Gonzalo Castello SL) Mitsubishi Corporation, and Foodchem International Corporation, are expected to drive the global raising agents production in the near future. Majority of these players will be investing in expanding their production of biological or natural raising agents. Several companies are expected to focus on increasing the applications of raising agents in organic production of baked items.
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