The North America Leavening Agents Market would witness market growth of 5.2% CAGR during the forecast period (2024-2031).
The US market dominated the North America Leavening Agents Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,375.7 Million by 2031. The Canada market is experiencing a CAGR of 7.5% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 6.6% during (2024 - 2031).
These agents, also called raising agents, are used in the production of goods such as bread, cakes, biscuits, and pastries by causing the expansion of batters and doughs by releasing gases within the mixtures. These agents add volume and improve the texture, making baked goods airy and giving them a tender, fluffy consistency.
As consumer tastes expand with globalization, so does the diversity of bakery products in demand. Exposure to international cuisines through media, travel, and social platforms has encouraged people to seek foods from different cultures, many of which feature baked goods that require unique leavening techniques.
Mexico’s food sector presents substantial opportunities for these agents, especially given its projected contribution of approximately $39.4 billion to the country’s GDP in 2020, as the United States Department of Agriculture reported. The food industry in Mexico is expanding at an average annual rate of 4.3 percent, which is supporting a developing market for these agents in traditional and industrial baking. In these sectors, consistency, efficiency, and product quality are essential. Mexico’s extensive retail landscape further bolsters this market, as a well-developed distribution network supports access to baked goods that rely on various leaveners. By 2020, Mexico featured 31 supermarket chains with 3,435 stores, 2,484 department stores, and 62,377 specialized stores, facilitating the widespread availability of baked products. This accessibility fuels demand for leavening agents as retail outlets continue to meet consumer demand for fresh and packaged baked goods nationwide. Hence, the region will present lucrative growth opportunities for the market.
Free Valuable Insights: The Leavening Agents Market is Predict to reach USD 6.6 Billion by 2031, at a CAGR of 5.5%
Based on Application, the market is segmented into Food, Personal & Health Care, and Other Applications. Based on Form, the market is segmented into Biological, Chemical, and Other Forms. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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