Baked Goods Market 2021-2025: APAC to lead the Market Growth
The baked goods market share is set to grow up to USD 165.49 billion, accelerating at a CAGR of almost 6.12% during the forecast period. The rising prominence of in-store bakeries in supermarkets is one of the major factors driving the baked goods market growth. Technavio's baked goods market report analyses the growth trajectory of the market with a purview of the prevalent market scenarios, trends, and drivers. It also provides competitive bench-marking of the key market players and their product portfolios.
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Bakery Market: APAC to lead market growth during the forecast period
- The baked goods market is segmented by Product (Bread and rolls, Cakes and pastries, Cookies, and Others) and Geographic (APAC, Europe, North America, South America, and MEA).
- The growing demand for organic and gluten-free products is one of the major baked goods market trends expected to stimulate market growth in the coming years.
- Based on the product segmentation, the baked goods market share in the bread and rolls segment will be significant during the forecast period.
- By geography, APAC emerged as the leading geographical segment in recent years and is expected to contribute 34% of the market growth. China and Japan are the key markets for baked goods in APAC.
- The expansion of global players in the region through organic and inorganic organizational developments will facilitate the baked goods market growth in APAC over the forecast period.
- This report provides a detailed analysis of all the trends likely to influence the growth of individual segments within the market and the overall market in focus. One of the factors that will drive growth is the rising urbanization and changing consumer lifestyles.
Bakery Market: Competitive Landscape
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development.
Associated British Foods Plc, Britannia Industries Ltd., Campbell Soup Co., Flowers Foods Inc., Grupo Bimbo SAB de CV, JAB Holding Co. Sarl, Kellogg Co., Mondelez International Inc., Warburtons Ltd., and Yamazaki Baking Co. Ltd. are some of the major baked goods market vendors.
To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. Download the Free PDF Sample Report
The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerating at a CAGR of 6.12%.
- What is the incremental growth of the market?
The market is expected to grow up to USD 165.49 billion.
- What is a key factor driving this market?
Rising urbanization and changing consumer lifestyles will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market?
34% growth will originate from APAC.
- Who are the leading market vendors?
The leading vendors in this market are Associated British Foods Plc, Britannia Industries Ltd., Campbell Soup Co., Flowers Foods Inc., Grupo Bimbo SAB de CV, JAB Holding Co. Sarl, Kellogg Co., Mondelez International Inc., Warburtons Ltd., and Yamazaki Baking Co. Ltd.
- What are the market segments covered in this report?
The market is segmented by Product (Bread and rolls, Cakes and pastries, Cookies, and Others) and Geographic (APAC, Europe, North America, South America, and MEA).