The global bakery products market is set to witness growth at a CAGR of 4.2% over the forecast period (2022-2032) and top a valuation of US$ 354.6 Million by 2032.
Bakery products are cooked at high temperatures in an oven or on a hot stove. With technological advancements, conventional baking methods have undergone a huge alteration.
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The market is likely to be fueled by increased consumption of processed foods and a shift in consumer demand for convenient food and beverage products. Furthermore, the convenience and long shelf life provided by frozen food items are expected to increase demand for frozen bakery products in the coming years.
Consumer behaviour has changed, and their preferences and tastes for various bakery items have evolved. They’ve been experimenting with new items with varied tastes and stuffings. Furthermore, health-conscious consumers are gradually altering their preferences to low-calorie items.
Busy schedules and hectic timelines have convinced the consumers to switch to convenient and ready-to-eat products such as biscuits and bread and rolls which is likely to positively impact the market. Due to the above-listed factors, the demand for bakery products is prophesied to show impressive growth over the forecast period.
“High demand for gluten-free bakery products across emerging economies, along with increasing preference for international baked products is expected to fuel the growth in the market,” says an FMI analyst.
Key Takeaways:
- Europe is expected to account for the maximum value share of the global market of about 28% by 2022.
- By product type, bread and rolls is expected to account for the highest market share in 2022.
- In case of specialty segment, sales of gluten-free bakery products are expected to gain momentum.
- Indirect channel is expected to account for a higher market value share than direct channel by 2032.
- Germany is expected to account for 30% of the Europe bakery products market share over the forecast period.
Competitive Landscape
Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships, and collaboration gain a competitive edge in the market. For instance:
- In 2021, Mondelez International (MDLZ) had acquired Chipita S.A. which is a Greek snacking company. Chipita produces and markets savory and sweet snacks.
- In 2020, ITC’s brand, popularly called as ‘Sunfeast’ had expanded its ‘cake’ category, by introducing its new product named as Sunfeast Caker which is available in three forms, namely Choco Swiss Roll, and Layer Cake, and Trinity.
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global bakery products market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on bakery products market by product type (biscuits, breads and rolls, cakes and pastries, rusks), specialty type (fortified, gluten-free, organic, low calorie, sugar-free), and distribution channel (direct and indirect) across seven (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa) major regions of the world.
Global Bakery Products Market by Category
By Product Type:
- Biscuits
- Cookies
- Non-Salt Cracker Biscuits
- Salt Cracker Biscuits
- Milk Biscuits
- Cream Biscuits
- Glucose Biscuits
- Marie Biscuits
- Others
- Bread and Rolls
- Artisanal
- In-Store
- Packaged
- Cakes and Pastries
- Artisanal
- In-Store
- Packaged
- Pizza Crusts
- Rusks
By Specialty Type:
- Gluten-free
- Fortified
- Organic
- Low-calorie
- Sugar-free
By Distribution Channel:
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Convenience Store
- Bakery Stores
- Artisanal Bakeries
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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