Chicago, Aug. 08, 2023 (GLOBE NEWSWIRE) — The baking ingredients market is a dynamic and thriving sector within the food industry. It encompasses a wide range of products that are essential for creating various baked goods, including bread, cakes, pastries, cookies, and more. These ingredients not only enhance the flavor, texture, and appearance of baked goods but also play a crucial role in their overall quality and shelf life.
Baking ingredients market in terms of revenue was estimated to be worth $16.6 billion in 2021 and is poised to reach $22.3 billion by 2026, growing at a CAGR of 6.0% from 2021-2026 according to a latest report published by MarketsandMarkets™. The increase in demand for bakery products has significantly increased the demand for baking ingredients. For high-quality professional baking, bakers need large quantities of a handful of ingredients to create everything from muffins and cupcakes to multi-tiered cakes and delicious cookies.
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Baking Ingredients Market Scope:
|Market size value in 2021||USD 16.6 billion|
|Market size value in 2026||USD 22.3 billion|
|Market growth rate||CAGR of 6.0%|
|On Demand Data Available||2030|
|Forecast units||Value (USD Million) and Volume (Thousand Units)|
|Geographies covered||Asia Pacific, Europe, North America, RoW|
|Companies covered||Cargill (U.S.), Archer Daniels Midland Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V. (The Netherlands), Kerry Group plc (Ireland), and AAK AB (Sweden).|
|Research Coverage||This report segments the Baking Ingredients Market based on type, application, and region. In terms of insights, this research report focuses on various levels of analyses-competitive landscape, pricing insights, end-use analysis, and company profiles-which together comprise and discuss the basic views on the emerging & high-growth segments of the dairy alternatives market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.|
Baking Ingredients Market major players covered in the report, such as:
- Cargill (US)
- Archer Daniels Midland Company (US)
- Associated British Foods plc (UK)
- Koninklijke DSM N.V. (The Netherlands)
- Kerry Group plc (Ireland)
- AAK AB (Sweden)
- British Bakels (UK)
- Corbion (the Netherlands)
- IFF (US)
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The research report categorizes the market into the following segments:
Baking Ingredients Market By Type
- Oils, fats, and shortenings
- Baking powder and mixes
- Colors & flavors
- Leavening agents
Baking Ingredients Market By Application
- Sweet Bakery
Baking Ingredients Market By Form
Baking Ingredients Market By Region
- North America
- Asia Pacific
- South America
- Row (Africa and Middle East)
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The key stakeholders in the Baking Ingredients Market include:
- Manufacturers: These are companies that produce a wide range of baking ingredients, including flour, sugar, leavening agents, fats and oils, and other essential components. They develop and innovate new products to meet changing consumer preferences and industry trends.
- Suppliers and Distributors: Suppliers play a vital role in the supply chain by sourcing and distributing baking ingredients to various retailers, wholesalers, and manufacturers. They ensure that the ingredients are available in the right quantities and at the right locations.
- Retailers: Retailers include supermarkets, grocery stores, specialty baking supply shops, and online retailers. They make baking ingredients accessible to consumers by stocking a variety of products from different manufacturers.
- Bakers and Pastry Chefs: Professional bakers and pastry chefs are key stakeholders as they use baking ingredients to create a wide range of baked goods. Their expertise and creativity influence ingredient preferences and usage patterns.
- Consumers: Consumers are at the heart of the baking ingredients market. Their preferences for taste, texture, and health considerations drive demand for specific ingredients and influence market trends.
- Food Industry and Restaurants: Restaurants, cafes, and other foodservice establishments use baking ingredients to create baked goods for their menus. The demand from this sector impacts ingredient procurement and consumption.
- Trade Associations and Regulatory Bodies: Organizations and agencies that set industry standards, regulations, and guidelines ensure the safety and quality of baking ingredients. They play a role in shaping industry practices and maintaining consumer trust.
- Food Scientists and Researchers: These professionals work on developing new baking ingredients, improving existing products, and researching innovative techniques that enhance the quality and nutritional value of baked goods.
- Packaging Companies: Packaging is crucial for preserving the freshness and quality of baking ingredients. Packaging companies provide solutions that maintain the integrity of ingredients throughout their shelf life.
- Marketing and Advertising Agencies: These entities contribute to creating awareness and promoting baking ingredients through marketing campaigns, advertisements, and branding strategies.
- Wholesalers and Distributors: Wholesalers acquire baking ingredients in bulk from manufacturers and supply them to retailers and smaller businesses, ensuring a smooth distribution network.
Baking Ingredients Market Frequently Asked Questions (FAQs):
Q1. What is the projected market value of the global Baking Ingredients Market?
Q2. What is the estimated growth rate (CAGR) of the global Baking Ingredients Market for the next five years?
Q3. What are the major revenue pockets in the baking ingredients market currently?
Q4. Which are the key players in the market, and how intense is the competition?
Q5. What kind of information is provided in the competitive landscape section?
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This report provides insights on the following pointers:
- Consumer Demand for Healthier Options: There is a growing trend among consumers towards healthier baked goods. This has led to increased demand for baking ingredients that are natural, organic, gluten-free, and low in sugar and artificial additives. Manufacturers are responding by developing and promoting healthier alternatives to traditional baking ingredients.
- Innovation and Customization: Bakers, both professionals and home enthusiasts, are seeking innovative and unique baking experiences. This has driven the market to offer a wider range of specialized baking ingredients, such as exotic flavorings, unique flours, and gourmet chocolate varieties. Customization options allow bakers to create distinctive products.
- Plant-Based and Vegan Ingredients: The rise of plant-based diets has influenced the baking ingredients market. Demand for plant-based alternatives to eggs, dairy, and other animal-derived ingredients has led to the development of innovative plant-based baking solutions, appealing to vegans and those with dietary restrictions.
- Sustainability and Ethical Sourcing: Consumers are increasingly concerned about the environmental and ethical impact of their food choices. This has prompted ingredient manufacturers to focus on sustainable sourcing, transparent supply chains, and eco-friendly packaging, aligning with conscious consumer values.
- Online Presence and Social Media Influence: The popularity of social media platforms and online baking communities has significantly impacted the market. Home bakers often share their creations and recipes, driving interest in specific ingredients and influencing trends. Ingredient manufacturers and retailers are leveraging these platforms to engage with consumers directly.
- Globalization and Culinary Exploration: Increased cultural exchange and global connectivity have led to a rise in interest in international baked goods. As a result, there’s a growing demand for exotic ingredients and traditional flavors from around the world, driving diversity in the baking ingredients market.
- Convenience and Time-Saving Solutions: Busy lifestyles have led to a demand for convenient baking solutions. This includes pre-mixed baking ingredient blends, ready-to-use dough, and baking kits. These products cater to consumers looking for quick and hassle-free baking experiences.
- Clean Label Movement: Consumers are seeking transparency in ingredient lists and are favoring products with “clean labels” – those with minimal and recognizable ingredients. This has prompted manufacturers to reformulate recipes and eliminate artificial additives.
- Educational Initiatives: Ingredient manufacturers and retailers are investing in educational content to empower both amateur and professional bakers. This includes online tutorials, recipe blogs, and workshops that showcase the versatility and proper usage of different baking ingredients.
- Health and Wellness Trends: The intersection of baking and health-consciousness has led to the incorporation of functional ingredients like seeds, nuts, ancient grains, and superfoods. These ingredients not only add nutritional value but also cater to consumers seeking added health benefits.
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five)
- Further breakdown of the Rest of Asia Pacific baking ingredients market -Thailand, Malaysia, and Singapore
- Further breakdown of the Rest of Europe market – Ireland, The Netherlands, Sweden, Turkey, and Belgium
Further breakdown of the Rest of South America into Peru, Chile, and Colombia.
Hohem Shines at IFA and IBC Exhibitions with Innovative AI Tracking Stabilizers
SHENZHEN, China, Sept. 30, 2023 /PRNewswire/ — Recently, Hohem, a trailblazer in the gimbal market, showcased its innovation at two renowned international exhibitions – the IFA exhibition in Berlin from September 3 to September 5, and the IBC exhibition in Amsterdam from September 15 to September 18. These exhibitions are significant platforms for industry players to present their latest innovations and connect with enthusiasts.
The IFA exhibition, a global hub for consumer electronics, saw Hohem presenting a range of sought-after smartphone gimbal and camera stabilizers, such as iSteady M6 and iSteady MT2. The magnetic AI tracker is much to the delight of photography enthusiasts. With this sensor, users can enjoy a smooth AI tracking experience without the need for an app or Bluetooth connection. By simply facing the AI sensor and making gestures, iSteady MT2 and iSteady M6 swiftly and accurately tracks the subject, capturing facial and body movements even in challenging scenarios.
At IFA, Hohem shared the stage with industry giants like DJI, Zhiyun, Huawei and Apple, underlining its position amidst renowned brands in the smart imaging arena. The booth design, characterized by a blend of deep black and vibrant orange, was a visual treat, adding a touch of sophistication and modernity.
Following IFA, Hohem participated in the IBC exhibition, a prestigious event in the broadcasting industry. The booth, mirroring the design theme from IFA, presented Hohem’s innovative applications of smart imaging technology in broadcasting. This event also featured industry stalwarts like Canon, Sony and Nikon, further enriching the discourse on broadcasting technology and imaging. Furthermore, the Hohem MIC-01 Wireless Microphone has received recognition and acknowledgment from industry competitors, establishing Hohem as a key player in the gimbal market.
In the coming days, Hohem will continue to uphold its brand mission of “Create a more straightforward way of recording memorable moments with tech” and introduce more user-friendly and efficient smart imaging devices. Hohem aspires to earn the trust and admiration of consumers globally, emerging as a go-to brand in the smart imaging landscape.
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Digital Twin Market size worth USD 133.7 Billion, Globally, by 2030 at 38.1% CAGR: Verified Market Research®
The “Global Digital Twin Market Size By Type, By Technology, By Industry, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Digital Twin Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., Sept. 29, 2023 /PRNewswire/ — The Global Digital Twin Market is projected to grow at a CAGR of 38.1% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 7.2 Billion in 2022 and is expected to reach USD 133.7 Billion by the end of the forecast period.
Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample?rid=144337
Browse in-depth TOC on “Digital Twin Market”
202 – Pages
126 – Tables
37 – Figures
Global Digital Twin Market Sees Unprecedented Growth Amidst Pandemic Challenges
The global Digital Twin Market is experiencing remarkable growth, transforming industries and revolutionizing decision-making processes across the board. A Digital Twin, a virtual replication of physical entities or systems, is driving innovation and operational efficiency across healthcare, pharmaceuticals, automotive, transportation, and aerospace sectors.
Digital Twin Market Drivers and Industry Insights:
Amid the challenges posed by the COVID-19 pandemic, the healthcare and pharmaceutical sectors have embraced Digital Twin technology, leveraging its capabilities for drug experimentation, patient monitoring, and medication impact assessments. The energy & power sector is emerging as a significant driver of Digital Twin adoption, with the manufacturing industry optimizing operations through its integration.
Digital Twin Market Outlook and Future Prospects:
The global Digital Twin market’s outlook remains promising, driven by the imperative need for data-driven decision-making and enhanced operational efficiency. Through real-time data analysis and predictive modeling, Digital Twins enable organizations to anticipate and optimize the performance of products and processes throughout their lifecycle. The market’s growth is further propelled by ongoing advancements in technology, fostering a landscape of innovation and strategic collaborations.
North America stands at the forefront of the Digital Twin revolution, serving as a key innovation center and early adopter of Digital Twins and associated technologies. Major industry players, including General Electric (US), have significantly invested in the sector, underlining the region’s market leadership. Their contributions are shaping the industry’s future, driving research, and fostering advancements that will redefine how businesses operate in the digital age.
Digital Twin Market Key Players
The “Global Digital Twin Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Swim AI, Robert Bosch, Oracle, SAP, Ansys, Siemens AG, Microsoft Corporation, PTC, IBM, and General Electric.
The Digital Twin market represents a pivotal shift in how industries approach decision-making and operational efficiency. As we navigate the challenges brought forth by the pandemic, Digital Twins offer a beacon of innovation, enabling organizations to thrive in an increasingly digital world
To get market data, market insights, financial statements and a comprehensive analysis of the Global Digital Twin Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Digital Twin Market into Type, Technology, Industry, And Geography.
Digital Twin Market, by Typeo System Digital Twin
o Process Digital twin
o Product Digital Twin
Digital Twin Market, by Technologyo Big Data Analytics
o AR, VR, and MR
o AI and ML
Digital Twin Market, by Industryo Retail
o Automotive and Transportation
Digital Twin Market, by Geographyo North America
GermanyFranceU.KRest of Europeo Asia Pacific
ChinaJapanIndiaRest of Asia Pacifico ROW
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Public Key Infrastructure (PKI) Market worth $13.8 billion by 2028 – Exclusive Report by MarketsandMarkets™
PKI will continue to be used by organisations for secure digital communications, identity management, and data protection in an increasingly linked and digitised world because to its flexibility to adapt to new technologies and security issues
CHICAGO, Sept. 29, 2023 /PRNewswire/ — The global Public Key Infrastructure Market is estimated to be worth USD 5.5 billion in 2023 and is projected to reach USD 13.8 billion by 2028, at a CAGR of 20.2% during the forecast period, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “Public Key Infrastructure (PKI) Market”
358 – Tables 56 – Figures300 – Pages
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Scope of the Report
Market size available for years
Base year considered
Value (USD) Million/Billion
By offering, deployment mode, organization size, application, and vertical
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
Thales (France), Entrust Datacard (US), DigiCert (US), ManageEngine (US), Microsoft (US), HID Global (US), Google (US), AWS (US), AppViewX (US), Venafi (US), Nexus (Sweden), Sectigo (US), Futurex (US), GlobalSign (US), WISeKey (Switzerland), Cygnacom Solutions (US), Keyfactor (US), SECARDEO GmbH (Germany), Blue Ridge Networks (US), Softlock (Egypt), SSL.com (US), LAWtrust (South Africa), SecureMetric (Malaysia), Stormshield (France), and Enigma Information Security Systems (US)
The PKI market is being propelled by a convergence of factors in today’s digitally connected world. The escalating volume and complexity of cyberattacks have made robust security a paramount concern for organizations, prompting increased demand for PKI’s encryption, authentication, and digital signature capabilities. Secondly, regulatory compliance requirements, such as GDPR and HIPAA, mandate secure data handling and encryption, compelling organizations to adopt PKI solutions. The rise of digital transformation initiatives, remote work, and the Internet of Things further fuel the need for PKI to safeguard digital interactions, protect sensitive data, and establish trust in online transactions. As the digital landscape continues to expand and evolve, PKI remains the linchpin for ensuring cybersecurity, making it a pivotal driver in the cybersecurity market.
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By offering, the services segment to register the highest growth rate during the forecast period
The services segment of the PKI market is poised to register the highest growth rate during the forecast period, underlining the critical role of expert services in enabling organizations to harness the full potential of PKI solutions. Implementing and managing PKI can be complex, involving intricate cryptographic processes and security considerations. As cybersecurity threats evolve, organizations recognize the need for specialized expertise in securing digital identities and data. PKI service providers offer invaluable support, consultation, and implementation services to ensure a seamless and secure PKI deployment. Their role extends to customizing PKI solutions to align with the unique infrastructure of each organization, integrating PKI seamlessly into existing systems, and providing managed PKI services to streamline certificate management. Furthermore, PKI service providers play a vital role in ensuring compliance with stringent regulatory standards and industry best practices. Their training and support services empower organizations to maximize the benefits of PKI while maintaining the highest levels of security.
Based on vertical, the healthcare segment is to grow at the highest CAGR during the forecast period
The healthcare sector is poised to experience the highest compound annual growth rate within the PKI market during the forecast period, signaling a significant shift towards robust security and digital trust solutions. Several key factors contribute to this remarkable growth trajectory. The healthcare sector deals with highly sensitive patient data, making data security and patient privacy paramount concerns. PKI’s encryption and authentication capabilities provide a robust framework for safeguarding electronic health records, ensuring the integrity of medical data, and enabling secure sharing of patient information among healthcare providers. The COVID-19 pandemic has accelerated the adoption of telemedicine and remote healthcare services. The need for secure and trusted digital identities and communications has surged as the healthcare industry increasingly relies on digital platforms for remote consultations, diagnosis, and patient monitoring. PKI plays a pivotal role in enabling secure telehealth services, ensuring that patient data remains confidential and unaltered during remote interactions.
North America to hold the largest market share during the forecast period.
North America holds the largest market share during the forecast period in the PKI market, underscoring the region’s strong emphasis on cybersecurity, digital innovation, and regulatory compliance. North America is home to many enterprises, financial institutions, healthcare organizations, and government agencies, all of which rely heavily on robust cybersecurity solutions like PKI to protect sensitive data and ensure secure online transactions. The region’s recognition of PKI as a fundamental element of cybersecurity strategy drives its substantial market share. The United States, in particular, has a highly developed cybersecurity ecosystem, with numerous cybersecurity companies, research institutions, and government initiatives focused on enhancing digital security. This environment fosters innovation and adoption of advanced PKI solutions to address emerging threats.
Top Key Companies in Public Key Infrastructure (PKI) Market:
The major players in the Public Key Infrastructure Market are Thales (France), Entrust Datacard (US), DigiCert (US), ManageEngine (US), Microsoft (US), HID Global (US), Google (US), AWS (US), AppViewX (US), Venafi (US), Nexus (Sweden), Sectigo (US), Futurex (US), GlobalSign (US), WISeKey (Switzerland), Cygnacom Solutions (US), Keyfactor (US), SECARDEO GmbH (Germany), Blue Ridge Networks (US), Softlock (Egypt), SSL.com (US), LAWtrust (South Africa), SecureMetric (Malaysia), Stormshield (France), and Enigma Information Security Systems (US).
April 2023 – Thales adds new phishing-resistant hybrid authenticators to its Passwordless Authentication for Microsoft Azure Active Directory Customers offering.April 2023 – Entrust Introduces Zero Trust Ready Solutions for Multi-Cloud Key Compliance, Next-Generation HSM, and Passwordless AuthenticationJanuary 2023 – A comprehensive digital trust system that combines public key infrastructure (PKI), certificate management, and certificate authority (CA) services was introduced by DigiCert. A significant product launch is Trust Lifecycle Manager, which is currently accessible as a component of the DigiCert ONE platform.February 2022 – To increase public trust in the cloud, Thales announced the continuation of its cooperation with Google Cloud. Organizations can confidently use the Google Cloud Platform (GCP) if the connection is stronger. The technique known as ubiquitous data encryption, which combines Thales’ Cypher Trust Cloud Key Manager and Google Cloud’s Confidential Computing, is activated. Customers can create and manage the encryption keys for data sent to Google Confidential Cloud Computing using the Thales Cypher Trust Data Security Gateway.Inquire Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=145372975
Public Key Infrastructure (PKI) Market Advantages:
Using cryptographic techniques to shield data from unauthorised access and manipulation, PKI offers a solid framework for protecting digital communications and transactions.Sensitive data is kept private and secure during transmission and storage because to PKI’s data encryption capabilities.Organisations are able to confirm the identity of users and devices before authorising access to sensitive resources thanks to PKI, which enables secure user and device authentication.Digital signatures can be created and verified with PKI, protecting the integrity and legitimacy of electronic documents and transactions.PKI offers non-repudiation, which makes it impossible for participants to claim they were not involved in a transaction because digital signatures serve as evidence of validity.Through techniques like S/MIME (encrypt/Multipurpose Internet Mail Extensions), PKI can encrypt email connections and protect the confidentiality and integrity of email information.Organisations can authorise access to systems and data based on certificate validation using PKI-based access controls, which provides an additional layer of protection.By issuing and managing digital certificates, PKI facilitates identity management by streamlining user access and account management.PKI offers a secure framework for data protection and identity verification, assisting organisations in adhering to legal and compliance standards.Report Objectives:
To define, describe, and forecast the Public Key Infrastructure Market based on segments based on offering, deployment mode, organization size, application, and vertical with regions covered.To forecast the size of the market segments with respect to five regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.To provide detailed information on the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the Public Key Infrastructure Market.To analyze each submarket with respect to individual growth trends, prospects, and contributions to the global Public Key Infrastructure Market.To analyze opportunities in the market for stakeholders by identifying high-growth segments of the global Public Key Infrastructure Market.To profile the key market players, such as top and emerging vendors; provide a comparative analysis based on their business overviews, product offerings, and business strategies; and illustrate the market’s competitive landscape.To track and analyze competitive developments in the market, such as new product launches, product enhancements, partnerships, acquisitions, and agreements and collaborations.Browse Adjacent Market: Information Security Market Research Reports & Consulting
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