The global packaged bread market is forecast to expand at 5% CAGR over the estimated time, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 2,535 million in 2023.
Clean label and functional bread are becoming increasingly popular owing to their supposed health benefits and stimulating appearance. This bread can be fortified with legumes like chickpeas or lentils to elevate the bread’s protein content.
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Another potential innovation in the field of packaged bread can be the inclusion of a filling. These fillings can be savory or sweet. The bread market is highly influenced by the adoption of modern lifestyles. This takes into account cultural diversity, mobility, flexibility, and discernment of other cultures.
Forces such as concern for the health quotient of bread are also propelling the demand for organic bread, fortified bread, etc. Implementation of the 3D scanner to tackle the issue of image recognition on conveyor belts is also projected to enhance the end outcome of packaged bread.
Top Highlights:
- The packaged bread industry in North America has been driven by the early adoption of technological innovations in the region. The United States had captured a seemingly large share in 2022, holding a 21.2% market share.
- The German packaged bread industry has accumulated a significant 8.9% market share in 2022.
- As per FMI estimates, Japan acquired a 2.9% market share in 2022.
- India is anticipated to witness explosive growth in the assessment period. The country is forecast to expand at 12.6% CAGR over the following years.
- China is projected to register a 6.8% CAGR through 2033.
- In Europe, the United Kingdom is anticipated to expand at 7.3% CAGR in the upcoming years.
- Based on nature, the organic segment is projected to procure more than 14.6% markets share in 2023.
- Based on packaging, the packaged sandwich is predicted to obtain a maximum share of more than 32.4% in 2023.
How are Competitors Expanding Their Customer Base?
Packaged bread manufacturers are investing in advertising their products on social media platforms and in-store displays. The innovation team of these companies is tasked with creating innovative products that are in sync with consumer trends. Moreover, it also does not require substantial up-front capital investment.
Firms are also focusing on strengthening their capability. Owing to the planning of a robust pipeline of extra new products by manufacturers. They can attract more customers to their offering. Manufacturers are further emphasizing expanding their distribution channels in new territories, thus propelling future growth.
Following are Recent Key Developments:
- Moulins Dumée launched the Chanvrine flour blend in 2022 to be used by bakeries. Chanvre is French for hemp. In addition to this launch, the company also came up with flaxseed and hemp-fortified bread. The bread is rich in omega-3 fatty acids and fiber.
- Grupo Bimbo extended its geographic presence in India via acquisitions in October 2021, crushing a local company Kitty Bread.
- Bimbo Bakehouse, which is a Bimbo Bakeries United States division, launched a new line of 5 speciality buns. It is designed for food service operators functioning in the country.
- Almarai procured Bahrain and the United Arab Emirates operations of Bakemart. The firm is a developer of packaged and baked products, for a total of US$ 25 million, in the March of 2021.
Key Players Operating:
- Associated British Foods Plc
- DuPont™ Danisco
- Fuji Baking Co. Ltd
- Angel Bakeries
- Allied Bakeries (Kingsmill)
- Agrofert Holding AS
- Britannia Industries Ltd
- Almarai Company
- Harrys (Barilla G. e R. Fratelli S.p.A)
- Bimbo Bakeries USA
- Others
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Key Segmentation:
By Nature:
- Organic
- Conventional
By Product Type:
- Sandwich Bread
- Rolls & Buns
- Tortillas, Pitas & Wraps
- Frozen Bread
- Crisp Breads
- Dough & Crusts
- Others
By Application:
- Bakery Products
- Confectionery Items
- Frozen Desserts
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
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.
Contact FMI:
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