Global Bakery Products Market Size Insights Forecasts to 2032
- The Global Bakery Products Market Size was valued at USD 448.7 Billion in 2022.
- The Market Size is Growing at a CAGR of 4.7% from 2022 to 2032
- The Worldwide Bakery Products Market Size is expected to reach USD 709.5 Billion by 2032
- Asia Pacific is expected to Grow the fastest during the forecast period
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The Global Bakery Products Market Size is expected to reach USD 709.5 Billion by 2032, at a CAGR of 4.7% during the forecast period 2022 to 2032.
Bakery products such as bread, pancakes, cookies, pies, pastries, and muffins are typically made with flour or meal generated from grain. Bread, which was already a common prehistoric staple, contributes several nutrients to the human diet. Flour, water, and leavening agents are the primary ingredients essential for the flavor, consistency, and visual appearance of the majority of bakery products. To modify these qualities, a variety of minor components like milk, egg, salt, sugar, fats, and oils can be added. Baking soda has become one of the most important ingredients in baked products. CO2, produced by the injection of sodium bicarbonate, often known as baking soda, enhances cakes, breads, cookies, and other baked goods. Approximately all baked products contain fats and oils, with beef fats, lard, and vegetable oils being the most common. The most common vegetable oils include soybean oil, corn oil, peanut oil, cottonseed oil, and coconut oil. Bakery products are in considerable demand mainly because of their simple preparation and low cost. Furthermore, the bakery products market keeps expanding with the introduction of new products, resulting in additional development. The increased influence of Western diets, increased urbanization, and the burgeoning working women population all contribute considerably to the growth of the bakery products industry.
Global Bakery Products Market Report Coverage
|Market Size in 2022:||USD 448.7 Billion|
|Forecast Period 2022-2032 CAGR:||4.7%|
|2032 Value Projection:||USD 709.5 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Product Type, By Specialty, By Region and COVID-19 Impact Analysis.|
|Companies Covered:||Kraft Food Group, Inc., Nestle S.A., Bimbo Bakeries USA, Britannia Industries Ltd., General Mills, Associated British Foods, Campbell Soup Company, Dunkin Donuts LLC, Flower Foods, The Kellogg Company, Grupo Bimboo, S.A.B. de C.V., Mondelez International, Inc., Yamazaki Baking Co., Ltd., Alvarado Street Bakery, Honeyrose Bakery Ltd., Nature’s Bakery Cooperative, The Hain Celestial Group, Inc., Manna Organics LLC, and other key vendors.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Consumer demand for superior quality, nutritious, and easily accessible bakery products has significantly expanded over the last two decades, and a comparable development, such as ready-to-eat foods, is likely to dominate throughout the forecast time frame due to an increasingly busy lifestyle. Therefore, bakery product end-use industries such as food services, fast-casual eateries, coffee shops, hotels, supermarkets, food businesses, and artisanal bakeries have flourished as a consistent source of income for bakery product makers. Additionally, the growing number of health-conscious consumers, along with an increased understanding of the chemicals used in baking, has been an important growth factor. The advantages provided, such as the high fiber and gluten-free content of baked goods, can also be credited to the industry's rise.
Furthermore, new product introductions to meet consumer wants are also helping the market grow. The increased demand for frozen bakery items, which are convenient and have an extended lifespan, is also supporting the overall market. Consumers are additionally trying out different preferences, goods, and flavors, which has resulted in a boost in demand for low-calorie bakery products, among other developments. Moreover, the growing number of working women provides considerable potential for the bakery industry to flourish. Because working women have little time to cook or prepare meals, they prefer ready-to-eat and frozen meals. As a result, the growing number of employed women is projected to improve baked goods consumption.
By Product Type Insights
The breads segment is dominating the market with the largest revenue share over the forecast period.
On the basis of product type, the global bakery products market is segmented into the cakes & pastries, breads, rolls, bagels, pizza crusts, cookies, tortillas, pretzels, and others. Among these, the bread segment is dominating the market with the largest revenue share of 64.8% over the forecast period. Bread's dominance is attributed to its widespread consumption among buyers of all ages. Bread utilization in Western cultures is increasing due to its excellent nutritional value, low cost, and accessibility. Furthermore, bread can be offered in a variety of categories, including gluten-free, whole-grain, and high-fiber selections. As a result, the widespread availability of these new bread products is anticipated to increase its use among consumers who desire to eat healthy diets.
By Specialty Insights
The organic segment is expected to hold the largest share of the Global Bakery Products Market during the forecast period.
Based on the specialty, the global bakery products market is classified into fortified, gluten-free, organic, low-calorie, and sugar free. Among these, the organic segment is expected to hold the largest share of the bakery products market during the forecast period. This is due to a rising customer preference for organic, clean-label products, as well as anticipates about the environmental consequences of traditional agricultural methods. Organic bakery products are created using ingredients that have not been treated with synthetic herbicides, pesticides, or genetically modified organisms (GMOs). Organic products attract consumers who value safety, quality, and sustainability. Growing customer desire for natural, chemical-free products, as well as concerns about sustainability, are driving the organic segment's steady growth.
By Distribution Channel Insights
The supermarkets/hypermarkets segment accounted for the largest revenue share of more than 32.6% over the forecast period.
On the basis of distribution channels, the global bakery products market is segmented into supermarkets/hypermarkets, artisanal bakeries, convenience stores, online, independent retailers, and others. Among these, the supermarkets/hypermarkets segment is dominating the market with the largest revenue share of 32.6% over the forecast period. Supermarkets and hypermarkets are major retail establishments that provide a wide variety of bakery products, ranging from fresh bread to packaged pastries. Their extensive reach, diverse goods, promotional avenues, and one-stop shopping make them a prominent player in the bakery product distribution industry. They provide a diverse range of bakery goods, including branded, in-house, and occasionally freshly baked delicacies. Because of their size, they may provide special deals and discounts. Consumer ease of use, diversity, and the capacity to reach a large customer base fuel their market dominance.
Europe dominates the market with the largest market share over the forecast period.
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Europe is dominating the market with more than 42.8% market share over the forecast period. From the famous croissants of France to the pretzels of Germany, Europe has a strong bakery heritage. Many European bakery delicacies are well-known around the world. The deeply integrated bakery traditions, as well as the sheer expansiveness of the European market with diverse bakery-centric cultures, all lead to its leading position. The substantial quantity of bakery consumption, as well as the premium related to many European bakery products, contribute to the region's market position. Europe, like North America, has witnessed an increase in health-conscious products. Many consumers value quality and authenticity, hence there is a major priority for artisanal and handcrafted bread items. Organic and clean-label items are likewise in high demand.
Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. The Asia Pacific region is home to a wide range of cultures, each having its own set of baking tastes. The range is enormous, ranging from Chinese bao buns to Indian naan. Rapid urbanization, rapidly changing lifestyles, and more financial freedom have all contributed to the acceptance of Western-style baked goods as an alternative to traditional products. Given the region's vast population and increasing need for baked goods, the Asia Pacific area has a major and expanding market share in the worldwide bakery products market. Furthermore, the rise of the middle class has raised demand for premium and creative bakery items.
The North America market is expected to register a substantial CAGR growth rate during the forecast period. The bakery products market in North America is varied, with a large assortment of bread, cakes, cookies, and specialized items available. The market for whole-grain and nutritious bakery products has been fuelled by health-conscious consumers. Gluten-free, low-calorie, and organic bakery items are in high demand in North America. Additionally, artisanal and specialty bakery products are also in high demand.
List of Key Market Players
- Kraft Food Group, Inc.
- Nestle S.A.
- Bimbo Bakeries USA
- Britannia Industries Ltd.
- General Mills
- Associated British Foods
- Campbell Soup Company
- Dunkin Donuts LLC
- Flower Foods
- The Kellogg Company
- Grupo Bimboo, S.A.B. de C.V.
- Mondelez International, Inc.
- Yamazaki Baking Co., Ltd.
- Alvarado Street Bakery
- Honeyrose Bakery Ltd.
- Nature’s Bakery Cooperative
- The Hain Celestial Group, Inc.
- Manna Organics LLC
Key Market Developments
- On August 2023, Hendricks de Bakker, an internationally recognized brand in artisanal baking, announced the addition of its excellent selection of baked pastries and bread to the Fresh Market and Best Price shelves. This important collaboration not only brings gourmet baked goods closer to consumers but also demonstrates Fine Foods Inc. retail's dedication to excellence and economic success. Hendricks de Bakker has also increased its services for the health-conscious client. Customers may now choose from a selection of healthy options, including gluten-free loaves and bread produced from whole grains and spelt.
- On June 2023, Entenmann's has renamed Entenmann's® Minis to Entenmann's® Baker's Delights. Entenmann incorporates NaviLens Technology into retail packaging, allowing visually impaired customers to find products by name, nutrition, and allergen identification.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Bakery Products Market based on the below-mentioned segments:
Bakery Products Market, Product Type Analysis
- Cakes & Pastries
- Pizza Crusts
Bakery Products Market, Specialty Analysis
- Sugar Free
Bakery Products Market, Distribution Channel Analysis
- Artisanal Bakeries
- Convenience Stores
- Independent Retailers
Bakery Products Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1. What is the market size of the bakery products market?The Global Bakery Products Market is expected to grow from USD 448.7 billion in 2022 to USD 709.5 billion by 2032, at a CAGR of 4.7% during the forecast period 2022-2032.
2. Which are the key companies in the market?Kraft Food Group, Inc., Nestle S.A., Bimbo Bakeries USA, Britannia Industries Ltd., General Mills, Associated British Foods, Campbell Soup Company, Dunkin Donuts LLC, Flower Foods, The Kellogg Company, Grupo Bimboo, S.A.B. de C.V., Mondelez International, Inc., Yamazaki Baking Co., Ltd., Alvarado Street Bakery, Honeyrose Bakery Ltd., Nature’s Bakery Cooperative, The Hain Celestial Group, Inc., Manna Organics LLC
3. Which segment dominated the bakery products market share?The supermarkets/hypermarkets segment in distribution channel type dominated the bakery products market in 2022 and accounted for a revenue share of over 32.6%.
4. Which region is dominating the bakery products market?Europe is dominating the bakery products market with more than 42.8% market share.
5. Which segment holds the largest market share of the bakery products market?The breads segment based on product type holds the maximum market share of the bakery products market.
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