Bread and Bakery Products Global Market Report 2024

The bread and bakery products market size has grown strongly in recent years. It will grow from $221 billion in 2023 to $234.99 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth observed during the historic period can be attributed to factors such as cultural and regional influences, effective marketing and branding strategies, the globalization of food culture, prevailing retailing trends and merchandising practices, and economic factors influencing affordability.

The bread and bakery products market size is expected to see strong growth in the next few years. It will grow to $296.79 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period can be attributed to a focus on healthier alternatives, the adoption of sustainability practices, culinary fusion with exotic flavors, an emphasis on clean labels and transparency, and the rise of artisanal and specialty bakeries. Major trends expected in the forecast period encompass the integration of sustainable and eco-friendly practices, innovation in sweet and savory combinations, the use of local and seasonal ingredients, the growth of e-commerce and online bakery platforms, and technological innovations in baking processes.

The global population is on the rise and is projected to reach 10 billion by 2050. This growth in population translates to an increased demand for food. To meet the needs of the expanding population, there is an anticipation for a rise in the supply of materials used in the manufacturing and trade of bread and bakery products. Consequently, companies within this market are poised to benefit from the growing demand for bakery and confectionery items due to the increasing population during the forecast period.

The burgeoning demand for online retail is expected to drive the growth of the bread and bakery products market in the foreseeable future. Online retail, denoting the buying and selling of goods and services over the internet, has the potential to enhance the bread and bakery market by boosting demand, accessibility, visibility, convenience, and competitive advantage. Consumers can add items to their digital shopping carts and proceed to checkout for payment. For instance, as of September 2022, Consumer internet retail constitutes 30% of the UK's overall retail sector, up from 20% in 2020, with an annual e-commerce revenue exceeding $120 billion, according to the International Trade Administration. The increasing preference for online retail is thus propelling the growth of the bread and bakery products market.

The COVID-19 pandemic had a substantial negative impact on the bread and bakery products manufacturing market in 2020. Disruptions in supply chains due to trade restrictions and reduced consumption during lockdowns imposed globally were key challenges. Governments worldwide imposed lockdowns to contain the spread of the infectious disease, leading to a decline in the movement of goods. This, coupled with fears of contamination in manufacturing facilities and restrictions on the trade of non-essential goods, resulted in a decline in production. However, it is anticipated that the bread and bakery products manufacturing market will recover from this setback over the forecast period, as the pandemic is considered a "black swan" event and not indicative of ongoing or fundamental weaknesses in the market or the global economy.

Bread and bakery product manufacturers are increasingly turning to social media for marketing purposes. With more consumers sharing their dining experiences on platforms such as Instagram, Pinterest, and Facebook, manufacturers in this sector are creating innovative and visually appealing bakery products to gain popularity. According to a study by Maru/Matchbox, 69% of millennials capture a photograph or video of their food before consuming it.

Leading companies in the bread and bakery products market are focusing on innovation to enhance profitability. An example is the introduction of new products such as Sara Lee Bread by the Sara Lee Corporation, a US-based food company. Launched in January 2023, Sara Lee Bread is a brand offering a variety of bread in different sizes, shapes, and flavors. The bread is made with real butter, sea salt, and a small amount of milk, providing a satisfying taste. Some of the bread products are sweet and delightful, crafted from a smooth blend of barley and oats. Additionally, each loaf of Sara Lee Bread contains one cup's worth of vegetables.

Major companies operating in the bread and bakery products market report are Walker's Shortbread Ltd., Cargill Inc., Archer Daniels Midland Company, George Weston Ltd., Mondelez International Inc., Britannia Industries Ltd., Wm Morrison Supermarkets PLC, Associated British Foods PLC, Grupo Bimbo, General Mills Inc., Yildiz Holding Inc., Lotte Chemical Corporation, S.A.B. de C.V., Yamazaki Baking Co. Ltd., Flowers Foods Inc., Bimbo Bakeries USA, Barilla Group, Lantmännen, ARYZTA AG, Tate & Lyle PLC, Harry-Brot GmbH, Dawn Food Products, Finsbury Food Group PLC, McKee Foods Corporation, CSM Bakery Solutions, Wenner Bread Products Inc., Rich Products & Solutions Pvt. Ltd., Neri's Bread & Bakery Products Inc., Damascus Bakeries Inc., Franz Bakery.

Asia-Pacific was the largest region in the bread and bakery products market in 2023. North America was the second-largest region in the bread and bakery products market. The regions covered in the bread and bakery products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the bread and bakery products market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

The main types within the category of bread and bakery products include bread, cakes and pastries, and other bread and bakery products. Bread, a fundamental food, is made by baking a mixture of flour (typically wheat) and water. Varieties include those made from whole wheat flour and multigrain flour. These products are distributed through various channels such as supermarkets and hypermarkets, convenience stores, e-commerce, and other distribution channels.

The bread and bakery products research report is one of a series of new reports that provides bread and bakery products statistics, including bread and bakery products industry global market size, regional shares, competitors with bread and bakery products share, detailed bread and bakery products segments, market trends and opportunities, and any further data you may need to thrive in the bread and bakery products industry. This bread and bakery products research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The bread and bakery products market consists of sales of rolls, loaves, burger buns, baguettes, sponge cakes, cupcakes, dessert cakes, crullers, knishes, pies, tarts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.