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Bakery Products Market Size
Bakery Products Market size was valued at USD 234.5 billion in 2022 and is estimated to witness over 4.4% CAGR from 2023 to 2032, due to consumer preferences, urbanization, and fast pace of modern life. The increasing trend towards healthier food options among health conscious and fitness enthusiast individuals leads to increased demand for hypoallergenic, gluten free baking products, which chemical-free.
E-commerce has made purchasing bread more convenient and convenient, while industry Demand for bakery products remains high as consumers value health, convenience and sustainability is at the forefront of their choices while also solving sustainability concerns with eco-friendly packaging and responsibly sourced products.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 234.5 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 4.4% |
| 2032 Value Projection: | USD 356 Billion |
| Historical Data for: | 2018 to 2032 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 136 |
| Segments covered: | Product Type, Distribution Channel, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Challenges in the bakery market include intense competition, cost fluctuations in raw materials, stringent regulatory compliance, and the need for consistent quality. Rising health concerns about sugar and gluten pose hurdles, while sustainability pressures call for eco-friendly practices and packaging.
COVID-19 Impact
The COVID-19 pandemic has had a significant impact on the bakery products market. Lockdowns and waste in the food chain created production challenges. Changes in consumer behaviour, increased health consciousness and the rise of home cooking have affected traditional sales. Bakeries have adapted by focusing on online sales, implementing security measures and innovative flexible packaging to meet changing demand and preferences.
Bakery Products Market Trends
Increased health consciousness has seen a shift towards healthier options in the baked goods industry. Fermented, gluten-free, and organic baked goods are becoming more popular. On-the-go consumption and convenience and are driving demand for single-serve packaged baked goods. Online stores and direct-to-consumer channels are expanding, offering greater reach. Sustainable practices and environmentally friendly packaging are increasingly important for consumers and businesses to address environmental concerns which is further supporting the market growth.
Bakery Products Market Analysis
The bakery products market from biscuits segment dominated around USD 234.5 billion revenue in 2022. Biscuits and bread dominate the bakery market and are the main products. Cakes and pastries play an important role because of their popularity and variety of flavours. The demand for pizza crust is increasing, driven by the rise in pizza consumption. Rusk varieties desired for flexibility and durability are also gaining popularity in the market.
The gluten-free segment accounted for 26% of the bakery product market share in 2022, due to heightened health consciousness and dietary restrictions. Fortified products, enriched with essential nutrients, appeal to health-oriented consumers. The demand for organic, low-calorie, and sugar-free bakery items is on the rise as consumers prioritize healthier alternatives in their diets, steering market demand towards these segments.
The indirect sales channels segment held over 70% of bakery products market share in 2022. In the dynamic bakery products industry, direct sales channels are rapidly growing and becoming increasingly prominent. Company-owned stores and online platforms allow for direct consumer engagement, enhanced brand visibility, and the opportunity to tailor offerings. On the other hand, indirect channels such as supermarkets, convenience stores, and specialty retailers continue to dominate, providing widespread accessibility and showcasing bakery products to a broad consumer base, solidifying their market presence.
U.S. bakery product market size surpassed USD 42.2 billion in 2022. With strong industry policies and a culture of embracing throwbacks, the U.S. the market has grown exponentially. Factors such as diverse consumer preferences, changing tastes, and continued demand for bakery ingredients contribute to the country’s dominant role in the bakery industry in North America.
Bakery Products Market Share
Some of the major companies operating in the bakery products market are
- Grupo Bimbo
- Finsbury Food Group
- Yamazaki Baking
- Associated British Foods
- Mondelez International
- General Mills
- Nestlé
- Kellogg Company
- Conagra Brands
- Aryzta
- Campbell Soup Company
- Hostess Brands
- Lantmannen Unibake
- McKee Foods
- Britannia Industries
These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Bakery Products Industry News:
- In July 2023, Starbucks has only one certified gluten-free bakery item on its menu, which is surprising when you consider how many of its beverages are, or made, gluten-free. The Marshmallow Dream Bar comes in its own packaging, with a gluten-free certification right on the label.
- In August 2023, Dunkin' Donuts has unveiled its autumn offerings, including pumpkin-flavored drinks and seasonal bakery treats like the pumpkin spice signature latte, nutty pumpkin coffee, pumpkin cake donuts, munchkins donut hole treats, and pumpkin muffins. These fall-inspired items are currently accessible at all Dunkin' outlets throughout the nations.
This bakery products market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Kilo Tons from 2018 to 2032, for the following segments:
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Market, By Product Type
- Biscuits
- Cookies
- Non-Salt Cracker Biscuits
- Salt Cracker Biscuits
- Others
- Bread and Rolls
- Artisanal
- In-Store
- Packaged
- Cakes and Pastries
- Artisanal
- In-Store
- Packaged
- Pizza Crusts
- Rusks
Market, By Specialty Type
- Gluten-free
- Fortified
- Organic
- Low-calorie
- Sugar-free
Market, By Distribution Channel
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Convenience Store
- Bakery Stores
- Artisanal Bakeries
- Online Retailers
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
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