According to the latest report by IMARC Group, titled “Bakery Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global bakery products market size reached US$ 478.4 Billion in 2021. Bakery products include a variety of baked goods that are prepared in an oven. Some of the most common grain-based baked products include cakes, bread, pies, donuts, cookies and pastries. They are generally characterized by a sweet or savory taste and fluffy texture. They are prepared using numerous ingredients, such as grain-based flour, water, salt, sugar, flavoring agents and leavening agents. They are easy to consume and convenient to store for an extended period of time. As a result, they are widely gaining prominence among consumers across the globe.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Bakery Products Market Trends:
The market is primarily driven by the escalating sales of convenience foods across the globe. With the inflating disposable income levels of the masses and their shifting dietary preferences, there has been a significant rise in the demand for processed and packaged baked foods, which is providing a thrust to the market growth. Moreover, there has been a growing preference towards the adoption of clean label and organic baked goods among consumers. Coupled with the easy availability of vegan and fortified bakery products across numerous online and offline organized retail channels, this is creating a positive outlook for the market. This is further supported by the growing health consciousness among the masses who are incorporating foods with low trans-fat content in their regular diets. Apart from this, the increasing deployment of robotics technology with the bakery processing equipment and significant growth in the food and beverages sector across the globe are also contributing to the market growth. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 4.0% during 2022-2027.
Market Summary:
- Based on the product type, biscuits represent the most popular type of bakery products. They are further categorized into cookies, cream biscuits, glucose biscuits, marie biscuits, non-salt cracker biscuits, salt cracker biscuits, milk biscuits and others. Other major product types include bread and rolls, cakes and pastries and rusk.
- On the basis of the distribution channel, the market has been classified into convenience stores, supermarkets and hypermarkets, independent retailers, artisanal bakeries, online stores, and others. Among these, supermarkets and hypermarkets account for majority of the total global market.
- On the geographical front, Europe holds the leading position in the market. Some of the other key regions include Asia Pacific, North America, Middle East and Africa, and Latin America.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include 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., and Associated British Foods (ABF) Plc.
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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