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

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

Market Overview:

The Indian bakery market size reached US$ 11.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.2 Billion by 2028, exhibiting a growth rate (CAGR) of 10.8% during 2023-2028.

A bakery is an establishment that prepares and sells flour-based baked products, such as bread, tortilla, cookies, donuts, cakes, pastries, and pies. These products are prepared using a variety of grains, such as rye, maize, wheat, and oats. They offer essential nutrients and are rich in calcium, fiber, iron, energy, fat, protein, vitamins, and minerals that promote health. Besides this, bakery products offer convenience and affordability to consumers, thereby gaining immense popularity across India.

Indian Bakery Market Trends:

The growing population is resulting in the increasing demand for bakery food products in India. This represents one of the key factors positively influencing the market. In addition, the rising consumption of bread, biscuits, and fast-moving consumer goods (FMCG) is contributing to market growth. Apart from this, the increasing influence of western food trends is catalyzing the demand for bakery products in the country. This, in confluence with the rising consumption of cakes on birthdays and other special occasions, is stimulating market growth. Along with this, the burgeoning food and beverage (F&B) industry, coupled with the expansion of quick service restaurants (QSRs) and fast-food chains, is increasing the usage of bread for preparing sandwiches, soups, burgers, and snacks. Additionally, hectic lifestyles and changing dietary patterns are driving the consumption of ready-to-eat (RTE) food and bakery products, which, in turn, are creating a positive outlook for the market in India. Furthermore, the rising health awareness among individuals is propelling manufacturers to introduce healthy, low trans-fat, multi-grain, and whole wheat bakery products. Besides this, the expansion of hypermarkets, supermarkets, convenience stores, and departmental stores is offering lucrative growth opportunities to manufacturers operating in the country. Furthermore, the thriving e-commerce industry that offers doorstep delivery, exciting offers, and online payment methods is augmenting the market growth. In line with this, the rising focus of leading market players on promotional activities to expand their market reach and increase profitability is impelling the market growth. They are also increasingly investing in research and development (R&D) activities to launch organoleptically improved products.

Key Market Segmentation:

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

Breakup by Product Type:

Biscuit

Cookies
Cream Biscuits
Glucose Biscuits
Marie Biscuits
Non Salt Crackers Biscuits
Salt Crackers Biscuits
Milk Biscuits
Others


Bread

Sandwich Breads
Hamburgers
Croissants
Others


Cakes and Pastries

Packed Cupcakes
Pastries
Muffins
Layer Cakes
Donuts
Swiss Roll
Others


Rusk


Biscuits are the most consumed bakery products due to their innovative flavors, designs, nutritional value, and affordable prices. Additionally, the introduction of innovative product variants is increasing their sales.

Breakup by Distribution Channel:

Convenience Stores
Supermarkets and Hypermarkets
Independent Retailers
Artisanal Bakeries
Online
Others


Convenience stores represent the largest segment as they allow easier access to a wide variety of bakery items for consumers.

Breakup by Region:

North India
West and Central India
South India
East India

On the basis of the region, the market has been segmented into North, West and Central, South, and East India.

Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players being Britannia Industries Limited, ITC Limited, Parle Products Private Limited and Surya Food and Agro Limited.

This report provides a deep insight into the Indian bakery market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian bakery market in any manner.

Key Questions Answered in This Report

1. What is the size of the Indian bakery market?
2. What has been the impact of COVID-19 on the Indian bakery market?
3. What are the key factors driving the Indian bakery market?
4. What is the breakup of the Indian bakery market based on the product type?
5. What is the breakup of the Indian bakery market based on the distribution channel?
6. Who are the key players/companies in the Indian bakery market?