According to the report, the global bakery products market attained a value of USD 480.95 billion in 2022. Aided by the increasing demand for convenience food items and the growing trend of on-the-go consumption, the market is projected to further grow at a CAGR of 6.9% between 2023 and 2028 to reach a value of USD 715.39 billion by 2028.
Bakery products comprise a wide variety of food items such as bread, pastries, cakes, cookies, and other baked goods. Bakery products are generally characterised by their taste, texture, and nutritional content, making them popular among consumers worldwide. The growth of the global bakery products market is primarily driven by the increasing demand for convenience food items. The rise in disposable incomes has further fuelled the demand for bakery products as consumers are more willing to spend on convenience foods. Another factor propelling the growth of the bakery products market is the rising trend of on-the-go consumption. As consumers increasingly seek food options that can be consumed quickly and easily while on the move, bakery products such as sandwiches, wraps, and pastries have gained significant popularity. This trend has prompted manufacturers to develop innovative bakery products that cater to the needs of on-the-go consumers.
The expanding retail sector and the increasing penetration of organised retail channels, including supermarkets, hypermarkets, and convenience stores, have also played a crucial role in driving the growth of the bakery products market. These retail channels offer a wide variety of bakery products in attractive packaging, making it convenient for consumers to choose and purchase their preferred products. The growing health consciousness among consumers has led to the development of healthier bakery products, such as those made from whole grains, fortified with vitamins and minerals, or containing reduced sugar and fat content. This has resulted in a wider range of bakery products that cater to different consumer preferences and dietary requirements, further boosting the market growth.
Additionally, the growing demand for bakery products in emerging economies, fuelled by rapid urbanisation and the increasing influence of Western food culture, is contributing to the growth of the bakery products market. This has prompted global bakery product manufacturers to expand their presence in these regions, catering to the evolving tastes and preferences of consumers. The increasing adoption of advanced bakery equipment and technologies, such as 3D food printing and automation, is expected to further propel the growth of the bakery products market. These technologies enable manufacturers to produce bakery products with enhanced precision, efficiency, and customisation, thereby catering to the diverse needs of consumers.
Bakery products comprise a wide variety of food items such as bread, pastries, cakes, cookies, and other baked goods. Bakery products are generally characterised by their taste, texture, and nutritional content, making them popular among consumers worldwide. The growth of the global bakery products market is primarily driven by the increasing demand for convenience food items. The rise in disposable incomes has further fuelled the demand for bakery products as consumers are more willing to spend on convenience foods. Another factor propelling the growth of the bakery products market is the rising trend of on-the-go consumption. As consumers increasingly seek food options that can be consumed quickly and easily while on the move, bakery products such as sandwiches, wraps, and pastries have gained significant popularity. This trend has prompted manufacturers to develop innovative bakery products that cater to the needs of on-the-go consumers.
The expanding retail sector and the increasing penetration of organised retail channels, including supermarkets, hypermarkets, and convenience stores, have also played a crucial role in driving the growth of the bakery products market. These retail channels offer a wide variety of bakery products in attractive packaging, making it convenient for consumers to choose and purchase their preferred products. The growing health consciousness among consumers has led to the development of healthier bakery products, such as those made from whole grains, fortified with vitamins and minerals, or containing reduced sugar and fat content. This has resulted in a wider range of bakery products that cater to different consumer preferences and dietary requirements, further boosting the market growth.
Additionally, the growing demand for bakery products in emerging economies, fuelled by rapid urbanisation and the increasing influence of Western food culture, is contributing to the growth of the bakery products market. This has prompted global bakery product manufacturers to expand their presence in these regions, catering to the evolving tastes and preferences of consumers. The increasing adoption of advanced bakery equipment and technologies, such as 3D food printing and automation, is expected to further propel the growth of the bakery products market. These technologies enable manufacturers to produce bakery products with enhanced precision, efficiency, and customisation, thereby catering to the diverse needs of consumers.
Market Segmentation
The market can be divided on the basis of product, distribution channel, and region.Market Segmentation by Product:
Biscuits
Breakup by Type
- Cookies
- Cream Biscuits
- Glucose Biscuits
- Marie Biscuits
- Non-Salt Cracker Biscuits
- Salt Cracker Biscuits
- Milk Biscuits
- Others
Breads and Rolls
Breakup by Type
- Artisanal Bakeries
- In-Store Bakeries
- Packaged
Cakes and Pastries
Breakup by Type
- Artisanal Bakeries
- In-Store Bakeries
- Packaged
- Rusks
- Others
Market Division by Distribution Channel:
- Convenience Stores
- Supermarkets and Hypermarkets
- Independent Retailers
- Artisanal Bakeries
- Online Stores
- Others
Market Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global bakery product companies. Some of the major key players explored in the report are as follows:- Mondelez International, Inc
- Associated British Foods Plc
- Nestlé S.A
- Britannia Industries Limited
- Grupo Bimbo, S.A.B. de C.V
- Finsbury Food Group Plc
- Others
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Industry Opportunities and Challenges11 Value Chain Analysis14 Loans and Financial Assistance17 Industry Events and Developments
3 Report Description
5 Executive Summary
6 Market Snapshot
8 Global Bakery Products Market Analysis
9 Regional Analysis
10 Market Dynamics
12 Manufacturing Process
13 Project Details, Requirements, and Costs Involved
15 Project Economics
16 Competitive Landscape
Companies Mentioned
- Mondelez International, Inc.
- Associated British Foods Plc
- Nestlé S.A.
- Britannia Industries Limited
- Grupo Bimbo, S.A.B. de C.V.
- Finsbury Food Group Plc
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | March 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 512.01 Billion |
| Forecasted Market Value ( USD | $ 715.39 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
