Bakery Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Bakery Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global bakery products market size reached US$ 497.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 625.9 Billion by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.

Baking, referred to as the oldest form of cooking, is used for producing everyday products like bread, cakes, pastries, pies, cookies, and donuts. These products are prepared using various ingredients like grain-based flour, water and leavening agents. They are considered fast-moving consumer goods (FMCG) and are consumed daily. Owing to their palatability, appearance and easily digestible nature, they are highly preferred for both formal and informal occasions. Nowadays, most traditional baking methods have been replaced by modern machines. This shift has enabled manufacturers to introduce innovative bakery products with different ingredients, flavors, shapes and sizes.

The improving standards of living of people around the world have led to significant changes in their lifestyles and eating habits. As a result, they now prefer low calorie, ready-to-eat food items, such as bakery products. This has further prompted the leading manufacturers to introduce bakery products containing multi-grains or whole wheat with low trans-fat content. This has escalated the demand for bakery items, especially among health-conscious consumers. Besides this, with the growing preference for bakery items and increasing internet penetration, several players in the bakery industry have launched their products on digital retail channels, making it more convenient for consumers to order online. Moreover, market players are spending substantially on research and development (R&D) activities to launch organoleptically improved products in the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global bakery products market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type and distribution channel.

Breakup by Product Type:

Biscuits
Cookies
Cream Biscuits
Glucose Biscuits
Marie Biscuits
Non-Salt Cracker Biscuits
Salt Cracker Biscuits
Milk Biscuits
Others
Bread and Rolls
Artisanal Bakeries
In-Store Bakeries
Packaged
Cakes and Pastries
Artisanal Bakeries
In-Store Bakeries
Packaged
Rusks
Artisanal Bakeries
In-Store Bakeries
Packaged

Based on the product type, bread and rolls are the most popular type of bakery products.

Breakup by Distribution Channel:

Convenience Stores
Supermarkets and Hypermarkets
Independent Retailers
Artisanal Bakeries
Online Stores
Others

Amongst these, bakery products are majorly distributed through supermarkets and hypermarkets as these stores allow easier access to a wide variety of bakery items to consumers.

Regional Insights:

Asia-Pacific
Europe
North America
Middle East and Africa
Latin America

On the geographical front, Europe enjoys the leading position in the market due to the presence of a large number of local and independent bakeries, along with the shifting preference of consumers towards ready-to-eat bakery products.

Competitive Landscape:
The competitive landscape of the market has also been covered, with the detailed profiles of manufacturers. Some of the top bakery products manufacturers are:

Grupo Bimbo S.A.B de C.V.
Yamazaki Baking Co., Ltd.
JAB Holding Company
ARYZTA AG
Flowers Foods, Inc.
Rich Products Corporation
Dr. August Oetker Nahrungsmittel KG
Gruma, S.A.B. de C.V.
General Mills, Inc.
Associated British Foods (ABF) Plc

Key Questions Answered in This Report
1. What was the size of the global bakery products market in 2022?
2. What is the expected growth rate of the global bakery products market during 2023-2028?
3. What are the key factors driving the global bakery products market?
4. What has been the impact of COVID-19 on the global bakery products market?
5. What is the breakup of the global bakery products market based on the product type?
6. What is the breakup of the global bakery products market based on the distribution channel?
7. What are the key regions in the global bakery products market?
8. Who are the key players/companies in the global bakery products market?