Providing a “lightness” to food items such as cakes and breads has led food and beverage companies towards adopting raising agents to their production methods. The global raising agents market is expected to register a value CAGR of 3.1% for the forecast period, 2017-2026, the research company Future Markets Insights (FMI) says.
In terms of volume, the study estimates that by the end of 2026, over 3,300 ‘000 tons of raising agents will be sold across the globe. The demand for raising agents will witness a considerable traction on the back of their effective applications in the production of confectionaries, the research company estimates.
For their specific function in releasing gas when the mixture gets heated, raising agents are important in the production of cakes and several other bakery items as they make them fluffy and creamy at the core.
Chemical, biological, natural or physical, a range of raising agents are being used in the global food and beverage industry. However, the demand for raising agents continues to descend with the emergence of egg alternatives and substitutes such as lemon juice.
The study has highlighted the rising applications of raising agents in the confectionary businesses. Manufacturers of confectionery products in several parts of the world are using up a considerable share of raising agents being produced in the world. The report estimates that in 2017, USD5.4bn worth of raising agents sold across the world was accounted by confectionary product applications.
The report also reveals that the demand for raising agents, namely, cream of tartar and baking soda, will gain equivalent traction by registering a value CAGR of 3.2% individually for the forecast period. During this period, baking powder will lose its prevalence as a sought-after raising agent.
The consumption of raising agents through direct or indirect sales is expected to be high in European countries. In 2017, Europe’s raising agents market was estimated to be valued at nearly USD11bn.
The report further revealed that in the same year, direct sales and wholesalers accounted for more than USD9bn revenues procured in the global raising agents market. Increasing consumption of confectioneries, prevalent demand for baked goods and easy access to natural raising agents are observed to drive the growth of Europe’s raising agents market during the forecast period.