Bread Market Size, Share, Demand, Future Growth, Opportunities And Challenges Forecast To 2028

According to The Insight Partners new research study on "The global Bread Market Forecast to 2027 - Global Analysis - by Product Type, Nature, Distribution Channel, and Geography," the bread market size is projected to reach US$ 260,930.3 million by 2027 from US$ 190,550.0 million in 2018; it is expected to grow at a CAGR of 3.6% during 2019-2027.

Rising disposable income and the inclination of consumers toward exploring new tastes and flavors are responsible for driving heavy traffic at restaurants, QSRs, and cafes. The trend of hanging out at these places is prevalent among youngsters, especially teenagers. This fact is responsible for the growth of fast-food, which indirectly drives the growth of the bread market.

Companies in this market have been continuously focusing on strategies such as product developments and strategy and business planning to expand their footprint worldwide and fulfill the growing demand. For instance, in March 2018, WASA introduced New Gluten Free Crispbread Line. WASA Gluten Free crispbread will be offered in two varieties: WASA Gluten Free Original and WASA Gluten Free Sesame & Sea Salt to cater the demand from health-conscious consumers.

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Bread market is an essential food item included in daily consumption among many cultures worldwide. The demand for bread has therefore been consistently growing and is expected to further grow as the population increases. Moreover, the increasing variety of special bread is expected to contribute to the growth of the market. Growing consumer priorities and their increasing preference toward consumption of healthier food have increased the demand for organic food products. To lower carbohydrates and increase protein intake in daily diet, consumers adopt paleo diets.

This fact has encouraged manufacturers to introduce new products with low-carb, zero gluten, high protein, and fiber. The increased varieties of bread have propelled its demand. Besides, the factors such as busy and hectic schedules resulting in less or no time for cooking meals at home have raised the demand for convenient and packaged food that supports the sales of bread and related bakery products.

Associated British Foods Plc; Almarai Company; Barilla G. E R. Fratelli S.P.A; Aryzta Ag; Britannia Industries Ltd; Campbell Soup Company; Finsbury Food Group Plc; Fuji Baking Co., Ltd.; and Goodman Fielder Pty., Ltd. are among the key players operating in the market. The key companies implement mergers and acquisitions, and research and development strategies to expand their customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.

In 2020, Europe accounted for the largest share of the global bread market size. The largest market share of this region is primarily attributed to the presence of major manufacturers in the region. Transforming lifestyles and food habits of consumers have had a noteworthy influence on the demand for bread in Europe. Although the consumption of bread in Europe is stable and the market for bread is not likely to grow intensely, there is a continuous demand for a greater variety of bread in many countries.

Bread is among the staple food in most countries in Europe, and most people eat whole meal bread as a part of their daily diet. Apart from convenience, European consumers prefer natural and whole meal bread with other ingredients such as oats, bran, and seeds. This fact has encouraged European craft and industrial bakers to innovate new products. Moreover, continued growth in sliced, wrapped, and specialty bread is anticipated to provide lots of opportunities for bread manufacturers to stimulate market growth.

Supermarkets and hypermarkets, convenience stores, independent retailers, artisanal bakeries, and online stores are among the major distribution channels. Improvement in the distribution or retail network of these distribution channels has uplifted the demand for bread at a significant rate as these channels are a feasible way for customers to buy these products. The availability of a wide range of bread and related products at a reasonable rate has attracted consumers to buy from supermarkets and hypermarkets.

Based on product type, the bread market is segmented into loaves, baguettes, rolls, burger buns, sandwich bread, ciabatta, and others. In 2020, the loaves segment accounted for the largest revenue share in the market. Based on nature, the bread market is segmented into conventional and organic. The conventional segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period. Based on distribution channel, the bread market is segmented into hypermarkets and supermarkets, convenience and retail stores, online, and others. In 2020, the convenience stores & retail stores segment accounted for the largest revenue share in the market.

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