In 2022, the worldwide bakery products market is expected to reach US$ 235 billion. According to the analysis, sales would grow at a CAGR of 4.2% over the projection period, reaching US$ 354.6 billion by 2032. This expansion has several essential points that are further explained.
Increased processed food consumption and a shift in customer preference towards quick-to-use food and beverage items are likely to drive the market. The convenience and increased shelf life provided by frozen food items are likely to drive demand for frozen bakery goods in the coming years.
As a result of shifting consumer behaviour, consumer preferences and appetites for various bread items have evolved. They’ve been experimenting with new foods that have different flavour and fillings. Furthermore, the choices of health-conscious consumers are gradually turning towards low-calorie items.
The Bakery Products Market is witnessing steady growth globally, driven by increasing urbanization, changing consumer lifestyles, and a growing preference for convenient and ready-to-eat options. Innovative product offerings, including gluten-free and healthier alternatives, have further fueled the market’s expansion. The rising demand for artisanal and organic bakery products also plays a significant role.
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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.
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.
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.
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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
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