Authored By: Sarah
11 Jul 2024

 Bakery Products Market Size to grow by USD 234.68 billion between 2024-2028

According to a research report “ Bakery Products Market” by Distribution Channel (Offline, Online) Product (Bread and rolls, Cakes and pastries, Cookies, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 234.68 billion, at a CAGR of  6.91% during the forecast period. Private-label bakeries, located in hypermarkets, supermarkets, grocery stores, and departmental stores, represent a significant segment of the bakery products market. These entities are typically smaller in scale yet offer a comprehensive selection of packaged baked goods, including those formulated with whole grain and other healthier ingredients. The rise of in-store bakeries, which are often operated by supermarkets themselves, poses a formidable challenge to both artisanal and industrial bakeries. The appeal of in-store bakeries lies in their competitive pricing and the convenience of one-stop shopping. Value-conscious consumers are increasingly gravitating towards private-label baked goods, particularly in the par-baked, pre-baked, or bake-off product categories, which have gained significant traction in recent years.

Browse market data tables, figures, and in-depth TOC on “Bakery Products Market” by Distribution Channel (Offline, Online) Product (Bread and rolls, Cakes and pastries, Cookies, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Distribution Channel, the Offline segment is projected to dominate the market size in 2024

The global bakery products market's bread and rolls segment encompasses a range of items, including whole wheat bread, sourdough, rye bread, pita bread, focaccia bread, multigrain bread, white rolls, hot dog rolls, and sub rolls. The segment's growth is significantly driven by the rising consumer preference for gluten-free alternatives due to health concerns, such as wheat allergies and celiac disease. Wheat, a primary raw material in bread production, contains gluten, which can trigger adverse health effects in gluten-intolerant individuals. Consequently, the demand for gluten-free bread and rolls is escalating, as they are manufactured using alternative raw materials.

By Product, Bread and rolls  segment is expected to hold the largest market size for the year 2024

In the bakery products market, supermarkets and hypermarkets have become the preferred distribution channels for a wide array of offerings, including bread, cookies, and cakes. The expansion of the organized retail sector in both developed and developing economies is responsible for the proliferation of these retail outlets. The retail industry's growth and the establishment of numerous supermarkets and hypermarkets have significantly boosted sales in this segment. Consumers are drawn to these outlets due to their extensive product ranges and the convenience of one-stop shopping. Additional incentives, such as discounted prices and an appealing shopping experience, further encourage purchases. The ambient store atmosphere and visually appealing shelf displays contribute to a pleasant shopping experience, making supermarkets and hypermarkets the go-to destinations for bakery products.

APAC is forecasted to hold the largest market size by region in 2024

The APAC bakery products market is projected to experience robust expansion during the forecast period, with China, Japan, India, and Australia serving as significant markets. Major players, including Britannia Industries, are capitalizing on this growth through strategic organizational developments. For instance, Grupo Bimbo, a global bakery powerhouse, has been operational in Asia since 2006 via its subsidiary, Bimbo China. Their Beijing production facility manufactures and distributes a range of packaged bread, pastries, cookies, and ready-to-eat food under the Bimbo brand. The market's growth is fueled by the increasing presence of multinational corporations in the region through both organic and inorganic growth strategies.

The Bakery Products Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Aryzta AG
  • Associated British Foods Plc
  • Baker and Baker
  • Brezelbackerei Ditsch GmbH
  • Britannia Industries Ltd.
  • Corporativo Bimbo SA de CV
  • Finsbury Food Group Plc
  • Flowers Foods Inc.
  • Gruma SAB de CV
  • JAB Holding Co. Sarl
  • LE DUFF Group
  • McKee Foods
  • Puratos Group NV
  • Roberts Bakery
  • Starbucks Corp.
  • The Bakery and Co.
  • The Great Canadian Bagel Ltd.
  • The J.M Smucker Co.
  • Warburtons Ltd.
  • Yamazaki Baking Co. Ltd.
.

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Research Analysis Overview

The bakery products market is a vibrant and diverse industry that caters to various dietary preferences and cultural traditions. From croissants and bagels to muffins, cookies, biscuits, and more, baked goods have become an integral part of modern life, particularly in urbanized areas. The market is influenced by changing lifestyles, with an increasing number of fitness enthusiasts and health-conscious individuals opting for healthier alternatives. Cultures around the world have contributed unique baked goods to the market, such as bagels from New York and croissants from France. Ingredients like eggs and flour are essential in producing these delicious treats, but cost fluctuations and intense competition can impact production and pricing. The ex-pat population also plays a significant role in the bakery products market, as they seek familiar flavors and textures from their home countries. As dietary trends continue to evolve, bakeries must adapt to meet the demands of consumers, offering gluten-free, vegan, and other specialized options. Overall, the bakery products market is a dynamic and ever-evolving industry that continues to thrive in the face of modernization and shifting consumer preferences.

Market Research Overview

The Bakery Products Market is witnessing significant growth due to the increasing popularity of Mexican snacks, promotions, and convenient bakery items. Cost-conscious consumers prefer affordable price ranges, driving demand for pretzels, rusks, milk biscuits, salt cracker biscuits, non-salt cracker biscuits, Marie biscuits, glucose biscuits, cream biscuits, and other staple food items. Culinary traditions continue to influence product innovation, with artisanal bakeries and independent retailers catering to health-conscious consumers' dietary preferences. Bread and rolls, cakes, pastries, and cookies are common bakery products, with vegan, dairy-free, and gluten-free options available. The IMARC Group reports fortified nutrients, probiotics, superfoods, and functional ingredients as market trends. Product diversification, brand loyalty, and marketing strategies are essential for bakeries to compete in the market. Consumer behavior is changing, with convenience foods, online sales, and eco-friendly practices becoming increasingly popular. Modern lifestyles, urbanization, and the ex-pat population's growing demand for international bakery products further fuel market growth. Flexible packaging, online sales, and ready-to-eat bakery products cater to on-the-go consumption. Bakery products' health benefits, such as whole grains, seeds, and natural ingredients, attract health-conscious consumers. Sustainability pressures and eco-friendly practices are essential for bakeries to remain competitive. Cost fluctuations, intense competition, and changing lifestyles put pressure on bakeries to offer sugar-free, low-calorie, and enriched or fortified products. Cultural influences, such as croissants, bagels, muffins, cookies, eggs, flour, and baked goods, continue to shape the market.

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