Global Baking Powder Market Set to Grow at 5.3% CAGR till 2020: Transparency Market Research
By Business Wire News
By Business Wire News
A new research study- “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” published by Transparency Market Research states that the market will grow at a CAGR of 5.3% between 2013 and 2019. The global baking powder market had a net worth of nearly US$2.35 billion in 2012 and is anticipated to increase to US$3.36 billion by the end of 2019.
The baking powder market has witnessed steady growth in the last few years due to rapid growth in the restaurant and hotel industries. Also, rapid urbanization and demand for health-oriented bakery products has stirred high growth in the global baking powder market.
The primary objective of the global baking powder market is to offer the readers a broad understanding of the overall market and elaborate upon the importance of baking powder as a raw material and its use in a variety of applications.
The market is categorized on the basis of geography and product type. The major product types in the baking powder market highlighted in the study include tartrate, phosphate-free, phosphate, sodium aluminum sulfate phosphate, anhydrous phosphate, aluminum-free, and others. The phosphate-based baking powder segment held a large market share of nearly 24.5% in 2012 (in terms of revenue). However, the study report also takes into account the market share of other segments, including their growth trends and global presence in various applications.
The major geographical market segments are Europe, North America, Asia-Pacific and RoW. Asia-Pacific and Europe together account for 64.8% of the market share, with economies such as the U.S., Brazil, India, and China likely to grow till 2020.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.