Press release
Global Bakery Products Market To Grow At A CAGR Of 4.6% During The Forecast Period Of 2023-2028
Bakery Products Market
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 4.6%
The increasing penetration of bakery products in the food and beverage sector owing to the wholesome taste is driving the market growth. In addition to this, the increasing affordability and rapid urbanisation across the emerging nations are further bolstering the popularity of bakery products.
Over the forecast period, the increasing demand for cookies, pies, and muffins of various flavours among children and teenagers is likely to increase the sales of bakery products. Moreover, the market is anticipated to be propelled by the increasing availability of wide range of bakery products in supermarkets/hypermarkets and convenience stores. Geographically, the Asia Pacific region accounts for a significant share of the market owing to the large food consuming population.
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Bakery Products Industry Definition and Major Segments
Bakery products are defined as the edibles in which flour or meal are utilised as the principal ingredients. These products include bread rolls, cookies, pies, and muffins, among others. These products also contain high quantity of carbohydrates, proteins, and fats. Bakery products have been considered as staple foods in the prehistoric times.
On the basis of product type, the market can be segmented into:
Biscuits
Cookies
Cream Biscuits
Glucose Biscuits
Marie Biscuits
Non-Salt Cracker Biscuits
Salt Cracker Biscuits
Milk Biscuits
Others
Bread and Rolls
Artisanal Bakeries
In-Store Bakeries
Packaged
Cakes and Pastries
Artisanal Bakeries
In-Store Bakeries
Packaged
Rusks
Based on distribution channel, the market has been segmented into:
Convenience Stores
Supermarkets and Hypermarkets
Independent Retailers
Artisanal Bakeries
Online
Others
The regional markets for bakery products include:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Bakery Products Market Trends
The key trends in the bakery products market include the thriving e-commerce industry, which is spearheading the sales of diversified bakery products with different tastes and aromas. In addition to this, the growing research and development activities by the major market players aimed towards manufacturing bakery products, such as biscuits, cakes, and breads with innovative flavours and high nutritional content, are likely to be the crucial trends in the market.
Moreover, the rapid development of convenience stores across the semi-urban areas is further boosting the market growth. The increasing standards of living and increasing demand for nutritious bakery products among the working-class population are some of the major trends in the market.
Key Market Players
The major players in the market are:
Finsbury Food Group Plc
Bimbo Bakeries USA
Britannia Industries
Nestle SA
Associated British Foods plc
Mondelez International, Inc
Bakers Delight Holdings
Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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