Global Bakery Products Market Report and Forecast 2023-2028

Global Bakery Products Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), 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.

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 EMR 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 by Expert Market Research are as follows:

• Mondelēz 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

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.