Piece of cake: Health consciousness and consumer preferences will affect product mixes
Bread producers expanded throughout 2023, with steadily growing export sales and strong demand for the industry's higher-end varieties partly offset by stagnating domestic consumption of wheat products. Despite major efforts to reinvigorate the bread market, the industry endured decelerating domestic demand from several key downstream markets due to the health trends discouraging bread consumption. In addition, the COVID-19 pandemic further pressured companies to remain profitable. However, industry revenue will still increase at a CAGR of 0.8% over the five years to 2023, including a rise of 1.5% to total $11.7 billion in 2023 alone.
The Bread Production industry in Canada manufactures bread and bakery products, such as cakes, muffins, croissants, pies and other similar baked goods. Operators sell these products to downstream supermarkets, convenience stores and food service providers. Many bakeries also sell their products directly to the public.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- FGF Brands Inc.
- Canada Bread Company Limited
Methodology
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