Latin America Baking Powder Market was worth USD 0.31 billion in 2022 and estimated to be growing at a CAGR of 5.6%, to reach USD 0.41 billion by 2028.
Baking powder is a dry chemical agent consisting of carbonate, inert fillers, and a weak acid. It is generally used for increasing the volume of baked goods. Certifications under PFO Act and BIS Act are necessary as quality control to ensure that the baking powder is fulfilling the specified conditions. The usage of baking powder can be seen in restaurants, households, and bakeries.
The growing demand for fast food products, bakery items such as pastries and cakes, and quick instant mixes is the major reason for the growth of this market. These items have gained popularity across caterers, bakeries, households, and restaurants. This trend is spreading significantly across the globe owing to the burgeoning urbanization. Baking powder is becoming a crucial ingredient across several segments, thus exhibiting strong growth. The flourishing food markets worldwide are likely to bode well for the growth of the baking products market. However, manufacturers are likely to face challenges from the repercussions that baking powder has on health from its prolonged consumption.
Latin America Baking Powder Market is broadly categorized into product. By product the market is classified into Phosphate, anhydrous phosphate, sodium aluminium sulphate phosphate, tartrate, aluminium free, phosphate free and others. The market was dominated by tartar based baking powder. This growth can be attributed to the growing demand for tartaric acid based baking powder owing to the rising awareness among people regarding the health benefits associated with the consumption of bakery products made using it.
Geographically the Latin America Baking Powder Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America.
Key Players in the Market:
Major Key Players in the Latin America Baking Powder Market are
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