North America Bakery Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America Bakery Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The North American bakery products market is projected to grow at a CAGR of 4.8% during the forecast period (2020 - 2025).

Key Highlights

• The market is primarily driven by the convenience, accessibility and nutrition profile associated with them. Moreover, as a result of urbanization and worldwide increase of working population, the growth of out-of-home consumption and increased demand on instant and nutritious products, this trend has been fueling the continuous increase of bakery products.
• The region witnessed a steady consumption growth with regards to bread. The trend is expected to remain same in the forecast period, however, ancient grains, organic grains, and custom blends of wheat flour are expected to record higher sales, with the growing demand for health-promoting bakery products that are minimally processed with lesser preservatives, lesser trans fats, rich in protein, and have other essential micro-nutrients.
• Commercial bakeries, although fewer in numbers than retail stores, generate almost 80% of the total bakery industry profits in the region. Commercial bakeries are well-established, with key players dominating the scenario, whereas retail stores are more fragmented in nature.

Key Market TrendsBread Remains the Mainstay in the Bakery Industry

The primary driver for the growth of the bread segment in the North American countries is the increasing demand for bread containing whole grain, high in fiber, gluten-free, or healthy and fortified bread. Such products are becoming increasingly popular with consumers, due to the enhanced uptake of the healthy lifestyle concept. In the developed countries, competition is uneven, due to product diversity and a large number of informal channels that produce bread. Moreover, packaged bread sales outnumbered unpackaged bread sales in North American countries.

United States Market to Dominate the Regional Market

Health-consciousness and indulgence are two parallel trends dominating the US bakery products market. The heath-orientation is catered with the launch of products that contain wholegrain, high fiber, or other health-promoting ingredients. The growing“gluten-free” varieties of baked products, along with the associated higher unit price, will provide further fillip to value-based sales in the forecast period. Therefore, new product innovation coupled with packaging modifications holds a key to retain competitiveness in the US bakery market, the market has seen a rise in popularity for portable, single-serve packaging. Morning baked goods witnessed sales decline, as consumers opted for other healthier alternatives, like snack bars and yogurt. With the growing demand for breakfast drink recipes and increased use of foodservice outlets for breakfast, the overall consumption of morning goods has gone down.

Competitive Landscape

The North American market for bakery products is fragmented, owing to the presence of large regional and domestic players in different countries. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the regional market include Kellogg NA Co., Hostess Brands, LLC, Bimbo Bakeries USA, Inc., Canyon Bakehouse LLC, and Mondelēz International among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Kellogg NA Co.
Hostess Brands, LLC
Bimbo Bakeries USA, Inc.
Canyon Bakehouse LLC
Mondel?z International
Dave's Killer Bread
Allinson's Bread
Boudin Bakery

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