Bakery and Cereals Market: Global Industry to reach USD 550 million by 2026

According to the Facts and Factors, Research Report, the global Bakery, and Cereals market in 2019 was more than USD 500 million. The market is expected to grow at a CAGR of 4% and is anticipated to reach above USD 550 million by 2026.

Baking is a method used to prepare food using dry heat, usually in an oven. Baking is used to prepare pastries, pies, cakes, quiches, cookies, tarts, scones, crackers, pretzels, and much more. These popular items are commonly known as "baked goods". Eggs can also be used in baking to produce savory or sweet dishes. In combination with dairy products especially cheese, they are often prepared as a dessert. Cereal is a grass cultivated edible component. Cereal crops provide essential nutrients and energy through direct human consumption. A number of cereals are grown in different countries, including rye, oats, barley, maize, triticale, millet, and sorghum. All cereal grains have high energy values, mainly from the starch fraction, but, also from the fat and protein portions. Cereals contain a wide range of substances, such as starch, adhesives, fats, and alcohol.

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Bread is a fundamental part of everyday food consumption. Cereals consist of vital nutrition and their consumption provides energy. Cereals provide more food for human consumption than any other crop. Additionally, baking products can also be used as a sweet dish. These parameters are expected to grow the bakery and cereals market over the forecast years. Moreover, the growing population, increasing urbanization rate, changing lifestyle, and an improving economy are also driving the growth of the market. Due to the development in the economy and changing lifestyle, most of the urban population solely depends on instant, fast, and ready to eat foods that provide efficient nutrition supply and save a lot of time. So increasing demand for such foods is estimated to rise at an exponential rate in the future years. Various chemicals and food processing materials are used directly or indirectly in the baking process. These baking ingredients used in baking are subject to stringent health and safety inspections in different countries, depending on government regulations. Numerous organizations such as U.S. Food and Drug Administration (FDA), World Health Organization (WHO), Canadian Food Inspection Agency (CFIA), National Food Safety and Quality Service (SENASA), and Committee on the Environment, Public Health and Food Safety (EU), etc related with food safety regulations are conducting a study to access the impact of these baking ingredients on the human body. The control of the baking ingredients and stringent regulations may restraints the growth of the market. Owing to health awareness, consumers prefer healthy snacks and looking to cut down their fats, sugar, fat, bread consumption. As a result, to develop low-calorie products numerous manufacturers are constantly searching for alternative ways in a variety of foods. Several baking ingredient manufacturers have introduced high-fiber additives to meet consumer demand for increased food fiber content. Additionally, increasing consumer demands for baked food with favorable taste, texture, results in the development of baking ingredients. These parameters may bring numerous opportunities in the baking and cereals market.

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By bakery analysis, the bakery & cereals market is segmented as bread & rolls, biscuits & cookies, cakes & pastries, and others. Among these, the bread & rolls segment accounted for over USD 3,000 million and is anticipated to record the highest CAGR over the projected period. Additionally, the cakes & pastries segment is also anticipated to grow in the future years attributed to growing demands for sweet baked goods such as cakes, croissants, etc.

By cereals analysis, the bakery & cereals market is bifurcated into ready to cook cereals and ready-to-eat cereals. In this, the ready-to-eat cereals segment held the largest share of over 70% in the bakery & cereals market in 2019 and is expected to increase over the projected period owing to changing consumer lifestyle and preferences.

By the distribution channel, the bakery & cereals market is segmented as hypermarket & supermarket, convenience store, specialty stores, and others. Among these, the convenience store held the largest market share of over 40% in 2019 and it is expected to increase in the future years.

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By packaging type, the bakery & cereals market is classified as paper & paperboard and plastics. In this, the plastics segment was accounted for more than USD 4,000 million in the bakery & cereals market in 2019 and is expected to record the highest growth over the forecasted period attributed to convenience and economic aspects of plastic packaging.

The key manufacturers operating in the bakery and cereals market are Dove Farm, Hain Celestial Group, KIND, Bimbo Bakeries, Weetabix Food Company, Quaker, Kelloggs, Brueggen, Jordan &Ryvita Company, Clif Bar, Bobo's Oat Bars, Odwalla Inc., EI Almendro, GENERAL MILLS, Jinsihou, Kashi Company, Pure Bar, Weiwei Group, Otsuka and others.

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