diff --git a/lib/matplotlib/_tight_bbox.py b/lib/matplotlib/_tight_bbox.py
index db72bbdff020..7cd28dd031e6 100644
--- a/lib/matplotlib/_tight_bbox.py
+++ b/lib/matplotlib/_tight_bbox.py
@@ -5,7 +5,7 @@
 from matplotlib.transforms import Bbox, TransformedBbox, Affine2D
 
 
-def adjust_bbox(fig, bbox_inches, fixed_dpi=None):
+def adjust_bbox(fig, bbox_inches, renderer, fixed_dpi=None):
     """
     Temporarily adjust the figure so that only the specified area
     (bbox_inches) is saved.
@@ -25,7 +25,7 @@ def adjust_bbox(fig, bbox_inches, fixed_dpi=None):
     for ax in fig.axes:
         locator = ax.get_axes_locator()
         if locator is not None:
-            ax.apply_aspect(locator(ax, None))
+            ax.apply_aspect(locator(ax, renderer))
         locator_list.append(locator)
         current_pos = ax.get_position(original=False).frozen()
         ax.set_axes_locator(lambda a, r, _pos=current_pos: _pos)
@@ -70,7 +70,7 @@ def restore_bbox():
     return restore_bbox
 
 
-def process_figure_for_rasterizing(fig, bbox_inches_restore, fixed_dpi=None):
+def process_figure_for_rasterizing(fig, bbox_inches_restore, renderer, fixed_dpi=None):
     """
     A function that needs to be called when figure dpi changes during the
     drawing (e.g., rasterizing).  It recovers the bbox and re-adjust it with
@@ -79,6 +79,6 @@ def process_figure_for_rasterizing(fig, bbox_inches_restore, fixed_dpi=None):
 
     bbox_inches, restore_bbox = bbox_inches_restore
     restore_bbox()
-    r = adjust_bbox(fig, bbox_inches, fixed_dpi)
+    r = adjust_bbox(fig, bbox_inches, renderer, fixed_dpi)
 
     return bbox_inches, r
diff --git a/lib/matplotlib/backend_bases.py b/lib/matplotlib/backend_bases.py
index 9b9cfe3ccc76..0b1bc77bcab7 100644
--- a/lib/matplotlib/backend_bases.py
+++ b/lib/matplotlib/backend_bases.py
@@ -2153,6 +2153,9 @@ def print_figure(
                 # so that we can inject the orientation
                 with getattr(renderer, "_draw_disabled", nullcontext)():
                     self.figure.draw(renderer)
+            else:
+                renderer = None
+
             if bbox_inches:
                 if bbox_inches == "tight":
                     bbox_inches = self.figure.get_tightbbox(
@@ -2169,7 +2172,7 @@ def print_figure(
 
                 # call adjust_bbox to save only the given area
                 restore_bbox = _tight_bbox.adjust_bbox(
-                    self.figure, bbox_inches, self.figure.canvas.fixed_dpi)
+                    self.figure, bbox_inches, renderer, self.figure.canvas.fixed_dpi)
 
                 _bbox_inches_restore = (bbox_inches, restore_bbox)
             else:
diff --git a/lib/matplotlib/backends/backend_mixed.py b/lib/matplotlib/backends/backend_mixed.py
index 6571d1928c0d..ea8f50a39ad1 100644
--- a/lib/matplotlib/backends/backend_mixed.py
+++ b/lib/matplotlib/backends/backend_mixed.py
@@ -75,15 +75,17 @@ def start_rasterizing(self):
         """
         # change the dpi of the figure temporarily.
         self.figure.dpi = self.dpi
-        if self._bbox_inches_restore:  # when tight bbox is used
-            r = process_figure_for_rasterizing(self.figure,
-                                               self._bbox_inches_restore)
-            self._bbox_inches_restore = r
 
         self._raster_renderer = self._raster_renderer_class(
             self._width*self.dpi, self._height*self.dpi, self.dpi)
         self._renderer = self._raster_renderer
 
+        if self._bbox_inches_restore:  # when tight bbox is used
+            r = process_figure_for_rasterizing(self.figure,
+                                               self._bbox_inches_restore,
+                                               self._raster_renderer)
+            self._bbox_inches_restore = r
+
     def stop_rasterizing(self):
         """
         Exit "raster" mode.  All of the drawing that was done since
@@ -115,5 +117,6 @@ def stop_rasterizing(self):
         if self._bbox_inches_restore:  # when tight bbox is used
             r = process_figure_for_rasterizing(self.figure,
                                                self._bbox_inches_restore,
+                                               self._vector_renderer,
                                                self._figdpi)
             self._bbox_inches_restore = r
diff --git a/lib/matplotlib/tests/baseline_images/test_bbox_tight/bbox_inches_inset_rasterized.pdf b/lib/matplotlib/tests/baseline_images/test_bbox_tight/bbox_inches_inset_rasterized.pdf
new file mode 100644
index 000000000000..17a80ef876d1
Binary files /dev/null and b/lib/matplotlib/tests/baseline_images/test_bbox_tight/bbox_inches_inset_rasterized.pdf differ
diff --git a/lib/matplotlib/tests/test_bbox_tight.py b/lib/matplotlib/tests/test_bbox_tight.py
index 5f2b397b650d..089b3a63005b 100644
--- a/lib/matplotlib/tests/test_bbox_tight.py
+++ b/lib/matplotlib/tests/test_bbox_tight.py
@@ -8,6 +8,7 @@
 import matplotlib.path as mpath
 import matplotlib.patches as mpatches
 from matplotlib.ticker import FuncFormatter
+from mpl_toolkits.axes_grid1.inset_locator import inset_axes
 
 
 @image_comparison(['bbox_inches_tight'], remove_text=True,
@@ -173,3 +174,18 @@ def test_bbox_inches_fixed_aspect():
         ax.plot([0, 1])
         ax.set_xlim(0, 1)
         ax.set_aspect('equal')
+
+
+@image_comparison(['bbox_inches_inset_rasterized'], extensions=['pdf'],
+                  remove_text=True, savefig_kwarg={'bbox_inches': 'tight'},
+                  style='mpl20')
+def test_bbox_inches_inset_rasterized():
+    fig, ax = plt.subplots()
+
+    arr = np.arange(100).reshape(10, 10)
+    im = ax.imshow(arr)
+    inset = inset_axes(
+        ax, width='10%', height='30%', loc='upper left',
+        bbox_to_anchor=(0.045, 0., 1, 1), bbox_transform=ax.transAxes)
+
+    fig.colorbar(im, cax=inset, orientation='horizontal')