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Bread & Bakery Products Market Report 2011
Key Note Publications Ltd, March 2011
The bread and bakery products market has struggled with various challenges in recent years. The market is mature and approaching saturation, with continual investment in new product development (NPD) necessary to keep the industry fresh and relevant to the modern consumer. Growth has been difficult because of changing dietary and consumption habits, as well as rising energy and raw material costs. Inevitably, this, coupled with the on-going economic downturn, has resulted in price increases. Despite this, the authors have predicted a 6% increase in household expenditure on bread and bakery products in 2010, principally due to higher unit costs and decreased volume consumption.
The white bread sector of the bread and bakery products market was persistently the largest category until 2006, with growing focus on healthy eating leading to consumers switching to other types of bread and bakery products. Despite volume consumption of bread and bakery products decreasing in recent years, rising prices have meant that total household expenditure on all bread rose steeply over the 5 years from 2006 to 2010.
Renewed interest in healthy eating also bolstered sales of brown and wholemeal bread, with this sector registering an 18% share of the total bread market since 2006. The speciality breads sector also performed particularly well during the review period, after overtaking white bread and becoming the largest sector of the bread and bakery products market in terms of consumer expenditure in 2010.
Innovation within the bakery products sector has been consistent, with new products appearing on a regular basis. However, this sector has suffered from the effects of discounting, with many manufacturers attempting to remain competitive against their rivals by reducing prices. A variety of ethnic breads has also been introduced within the speciality breads sector, with products that have origins from overseas becoming increasingly prevalent in the UK. American-style bagels and doughnuts, as well as continental foods, such as croissants, are now mass-produced in order to meet demand within the UK.
The on-going economic downturn has meant that market conditions have remained challenging for the bread and bakery products industry, especially businesses operating at the small- to medium-sized end of the spectrum. Larger companies have continued to place high emphasis on value, branding and marketing in an effort to give themselves an edge over their competitors within the marketplace.
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