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Bread & Bakery Products Market Report 2010
Key Note Publications Ltd, March 2010, Pages: 105
The bread and bakery products market has struggled with numerous challenges over many years. As a mature and saturated market, it has had to rely on continual investment in new product development (NPD) and marketing to ensure growth, while rising energy and raw material costs since the middle of this decade have forced manufacturers and retailers to implement price increases.
The higher unit cost of bread, rather than increases in volume consumption, has led to a 9% increase in household expenditure on bread and bakery products during 2009.
The traditional white bread sector was the largest in the total bread market until 2006, when the growing focus on healthy eating, among other factors, led some consumers to switch to other types of bread and bakery products. However, despite falling consumption, rising prices have meant that total household expenditure on white bread rose steeply in 2008, and also in 2009, when it regained its position as the largest sector in terms of expenditure.
The brown and wholemeal bread sector has experienced a strong revival since 2005 — something which can be linked mainly to renewed interest in healthy eating. The sector has retained a share of the total bread market of more than 18% since 2006.
The speciality breads sector has shown steady growth during the past 5 years. It overtook white bread as the largest sector in 2006, and in 2009 had sales at a similar level to white bread.
The bakery products sector has seen constant innovation by manufacturers, with new products appearing on a regular basis. However, the sector has also suffered from the effects of discounting, keeping value growth at a modest level.
The economic situation has continued to be a challenging one for bakery businesses, especially those at the small- and medium-sized end of the spectrum. Larger companies have continued to place a high emphasis on branding and marketing in an effort to differentiate their products from those of their competitors.
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