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Bakery & Confectionary Market Rising Demand, Evolving Trends, Future Perspectives, Size, Share And Forecast To 2033
Bakery & Confectionary Market Overview
The Business Research Company presents an extensive market research report on the Bakery & Confectionary Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The bakery & confectionary market size has grown strongly in recent years. It will grow from $907.39 billion in 2023 to $960.09 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to health-conscious offerings, artisanal and crafted treats, global flavor fusion, functional ingredients, interactive and experiential products.
The bakery & confectionary market size is expected to see strong growth in the next few years. It will grow to $1174.03 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to changing consumer lifestyles, cultural and ethnic influences, celebrations and festivities, retailing and merchandising strategies, globalization and cross-cultural flavors. Major trends in the forecast period include digitalization and online ordering, packaging innovations, global flavor fusion, customization and personalization trends, innovations in baking techniques.
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Key Market Players:
Major companies operating in the bakery & confectionary market report are Nestle S.A., PepsiCo Inc., Mars Inc., Mondelez International, Roshen Confectionery Corp., The Kraft Heinz Company, Wm Morrison Supermarkets plc, Valeo Foods Group, Grupo Bimbo S.A.B. de C.V., General Mills Inc., Ferrero Group, Kellanova, Lotte Corp., The Hershey Company, Yamazaki Baking Co. Ltd., The Clorox Company, Barry Callebaut AG, The Campbell Soup Company, Campbell Soup Company, The J.M. Smucker Company, Flowers Foods Inc., Bimbo Bakeries USA, The Hain Celestial Group Inc., Morinaga & Co., Orion Corp., Hostess Brands Inc., Bourbon Corp., Lindt & Sprüngli AG, PIM Brands Inc., Crown Confectionery Co.
Market Drivers:
The world's population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for food. Supply for materials used in bakery and confectionary and trade volumes will have to increase to meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for bakery and confectionery products due to the rising population during the forecast period.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/bakery-and-confectionary-global-market-report
The bakery & confectionary market covered in this report is segmented -
1) By Type: Breakfast Cereal, Sugar And Confectionery Products, Bread And Bakery Products, Cookie, Cracker, Pasta, And Tortilla
2) By Price Point: Economy, Mid-Range, Luxury
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
Subsegments Covered: Oats Breakfast Cereal, Grains Breakfast Cereal, Other Breakfast Cereal, Sugar, Confectionery Product, Bread, Cake And Pastries, Other Bread And Bakery Product, Cookie and Cracker, Dry Pasta, Dough, and Flour Mixes, Tortilla
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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