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Organic Bakery Products Market Overview and Projections 2024
Organic Bakery Products Market Overview
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According to The Business Research Company's, The organic bakery products market size has grown strongly in recent years. It will grow from $11.56 billion in 2023 to $12.15 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to changing consumer lifestyles, environmental concerns, government regulations and certifications, retail expansion of organic products, innovation in organic ingredients.
The organic bakery products market size is expected to see steady growth in the next few years. It will grow to $14.37 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to educational campaigns, e-commerce growth, organic farming advancements, clean label movement, rise in plant-based alternatives, globalization of organic food markets. Major trends in the forecast period include rising consumer demand for clean label products, growing interest in gluten-free and allergen-free options, innovation in organic ingredients and flavors, expanding online presence and e-commerce, expansion of organic bakery offerings in cafés and restaurants.
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Market Drivers and Trends:
Increasing consumer preferences towards healthy ingredients is a major driver for the organic bakery product market. Growing urbanization is leading to hectic lifestyles and unhealthy eating options, which have resulted in lifestyle disorders and a deterioration of health for consumers. Thus, changing consumer preferences are forcing manufacturers to switch to the use of organic ingredients such as organic baking powder, gluten-free powder, and aluminum-free baking powder. Moreover, the rising disposable income of the population is expected to contribute to the higher demand for organic bakery products in the near future. According to Trading Economics, the US-based financial service provider, the disposable personal income in India increased to Rs 27,29,95,370 million in the year 2022 from Rs 23,85,73,760 in the year 2021.
The use of innovative technology for enhanced taste and flavour is the trend in the organic bakery products manufacturing market. The rising preference for organic bakery products among consumers, owing to their health benefits, is motivating manufacturers to use innovative technology and methods to offer new organic bakery products with enhanced taste and flavor. The manufacturers are trying to study new methods to increase the shelf-life of the products, such as the use of natural preservatives along with enhanced taste till the time of consumption.
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Major Key Players of the Market:
Mondelez International Inc., Associated British Foods plc, Grupo Bimbo S.A.B. de C.V., Kellanova, Flower Foods Inc., The Hain Celestial Group Inc., Dave's Killer Bread, Healthybake, Finsbury Food group plc, Baker Delight Holdings Limited, Mestemacher GmbH, Toufayan Bakery Inc., ACE Bakery, New Horizon Foods Inc., Canyon Bakehouse LLC, Rudi's Organic Bakery, Hain Celestial Group (Rudi's Bakery), The Essential Baking Company, BFree Foods, Alvarado Street Bakery, Ozery Bakery Inc., Little Northern Bakehouse, Manna Organics LLC, Nutri-Bake Inc., Angelic Bakehouse, Honeyrose Bakery Ltd., United States Bakery, Soyfoods Ltd., Cress Spring Bakery, Natures Bakery Cooperative, Silver Hills Bakery, La Brea Bakery, Three Bakers Gluten-Free Bakery, The Great British Cake Company, The Handmade Cake Company, The Bread Garden Bakery & Café, The Little Cake Company
Organic Bakery Products Market 2024 Key Insights:
• The organic bakery products market size is expected to see steady growth in the next few years. It will grow to $14.37 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%.
• Consumer Shift Towards Healthier Choices Boosts The Organic Bakery Products Market
• Innovative Technology Drives Enhanced Taste And Flavor In The Organic Bakery Products Market
• Asia-Pacific was the largest region in the organic bakery products market in 2023
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