Bakery Products Market - Growth, Trends, and Forecasts (2023 - 2028)

The Bakery Products Market is Segmented by Product Type (Cakes and Pastries, Biscuits, Bread, Morning Goods, and Other Product Types), Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Online Retail Stores, and Other Distribution Channels), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report offers the market sizes and forecasts in value (USD million) for the above segments.

Bakery Products Industry Overview

Bakery Products Market  Summary
Study Period: 2016 -2027
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: 3.8 %

Major Players

Bakery Products Market  Major Players

*Disclaimer: Major Players sorted in no particular order

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Bakery Products Market Analysis

The bakery products market is projected to register a CAGR of 3.8% over the forecast period.

Growing preference toward convenient foods, along with the rising ex-pat population and changing lifestyle of the people, is escalating the demand for bakery products globally. A wide range of bakery products are being sold in the market, and the various innovations in the bakery products range suiting the demand of different segments of consumers are driving the market studied. For example, bakery products like biscuits are being innovated and specifically produced to meet the changing lifestyles and demands of consumers. For instance, biscuits with natural ingredients, like grain, low-calorie sweeteners, whole wheat, etc., are considered to be more appealing among consumers, especially diabetic consumers.

On the other hand, bakery products (especially bread) have been a staple diet for people worldwide for centuries. The convenience, accessibility, and nutrition profile associated with them are the significant factors that have sustained these products in the modern market. Bakery products are included in people's daily diets not only in developed economies but also in underdeveloped or developing economies. All of these factors are expected to boost the growth of this market over the forecast period.

Additionally, the rising trends of “natural nutrition,” “healthy living,” and “organic products” have significantly increased the demand for whole wheat, light (low calorie), natural, and additive-free bakery products. Furthermore, the rise in demand for healthy food is driving the demand for whole wheat, gluten-free, and multigrain bakery products. The increased availability of such specialized bakery products will further aid the market's growth during the forecast period.

Bakery Products Industry Segments

Bakery products are prepared from flour or meal derived from grains and are available in a wide range. The global bakery products market is segmented based on product type, distribution channel, and geography. Based on product type, the market has been segmented into cakes and pastries, biscuits, bread, morning goods, and other product types. Based on the distribution channel, the market has been segmented into hypermarkets/supermarkets, convenience stores, specialty stores, online retail stores, and other distribution channels. Finally, based on geography, the market has been segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

By Product Type
Cakes and Pastries
Biscuits
Bread
Morning Goods
Other Product Types
By Distribution Channel
Hypermarkets/Supermarkets
Convenience Stores
Speciality Stores
Online Retail Stores
Other Distribution Channels
By Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
Saudi Arabia
Rest of Middle East and Africa

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Bakery Products Market Trends

This section covers the major market trends shaping the Bakery Products Market according to our research experts:

Surge in Demand for 'Free-from' Food Products

Free-from food products (particularly gluten-free products) are not only consumed by people with celiac disease but also by the general health-conscious population. The demand for gluten-free products arises from the belief that gluten-free and sugar-free edibles help people overcome problems related to bloating, indigestion, obesity, diabetes, etc. Thus, bakery products, which claim to be fat-free, sugar-free, gluten-free, whole wheat, and salt-free, are gaining popularity among the health-conscious consumer category.

Additionally, celiac disease, sometimes called celiac sprue or gluten-sensitive enteropathy, is an immune reaction to eating gluten, a protein found in wheat, barley, and rye, which are used in making various bakery products. If one has celiac disease, eating gluten triggers an immune response in the small intestine. According to the Celiac Disease Foundation, in 2021, around 1 in 100 people worldwide were affected with celiac disease. Similarly, according to Beyond Celiac, in 2021, an estimated 1 in 133 Americans, or about 1% of the population, had celiac disease. Hence, this factor also drives the demand for gluten-free products. 

Furthermore, consumers prefer to consume natural, vegan, and free from artificial additives products, which has led to the launch of various free-from products globally. For instance, in May 2022, the UK-based natural confectionery company Prodigy introduced the "Phenomenoms" line of plant-based chocolate biscuits. The plant-based biscuits are wheat free and contain half the sugar of a standard chocolate biscuit. It also contains prebiotic fiber, zero palm oil, and no refined sugars. The biscuits are made in a “thins” format and are available in two variants, namely Prodigy Phenomenoms Chocolate Digestives and Prodigy Phenomenoms Chocolate Oaties.

Bakery Products Market: Gluten-Free Food Consumption Volume Share, By Type, Spain, 2021

Europe Dominates the Consumption of Bakery Products

Europe accounts for the largest revenue share in the global bakery products market. On the one hand, the developed markets of Western Europe are mature and saturated regarding bakery products. On the other hand, the emerging markets of Eastern Europe are driving the sales of biscuits and bread, in particular, owing to the high demand for convenient food products. The development of new products in the European bakery market continues to be influenced by trends in health and well-being. While pleasure continues to be a major factor in bakery product sales, customers nowadays are not content with just a sweet treat but are demanding healthier features like additional nutrition and clean-label ingredients.

The European bakery products market is well-established in terms of the supply chain, product array, distribution channels, and consumer preferences. Innovations and new product developments are increasingly observed in the indulgence categories, like cakes, pastries, and cookies. The traditional morning foods in Europe are witnessing a prevalence of gluten-free, whole grain, ancient grain, and additive-free products. Such products have the potential for higher sales due to the growing demand for instant and nutritious baked products. For instance, in June 2021, with the introduction of two new additions to its gluten-free lineup, Warburtons entered the free-from cake market. Warburtons Gluten Free Cake Squares are offered in three-packs and are available in two flavors: Raspberry & Hazelnut and Chocolate Orange & Gingerbread.

Bakery Products Market: Market Size (%), By Region, Global, 2021l

Bakery Products Market Competitor Analysis

The global bakery products market is highly competitive, particularly with the significant presence of numerous global and regional players. The players in the market use various corporate strategies like product innovations to cater to the needs of the consumers. For example, manufacturers are introducing various clean-label, gluten-free, and even uniquely flavored bakery products to increase their consumer base. The players in the market also adopt other strategies like acquisitions and expansions to penetrate the markets further. Finsbury Food Group Plc, Mondelez International, General Mills Inc., Britannia Industries Ltd, and Grupo Bimbo are some of the leading players in the global bakery products market.

Bakery Products Market Top Players

  1. Finsbury Food Group Plc

  2. Associated British Foods plc

  3. Grupo Bimbo, S.A.B. de C.V.

  4. General Mills, Inc.

  5. Mondelēz International, Inc.

*Disclaimer: Major Players sorted in no particular order

Bakery Products Market Concentration

Bakery Products Market Recent Developments

  • April 2022: Walker’s Shortbread partnered with retailer Dufry to launch a new Global Travel Retailer range at more than 55 travel sites worldwide. The product range will include several types of shortbreads and other products in it.
  • September 2021: Finsbury Food Group expanded its Mary Berry supermarket cake range with the launch of Bundt cakes. The Bundt cakes come in two flavors, lemon sponge cake with lemon icing, lemon curd drizzle, and hand-decorated Belgian white chocolate curls, and chocolate sponge cake featuring chocolate icing and hand-decorated Belgian dark and white chocolate.
  • January 2021: Chipita SA, a global baker of packaged cakes and pastries, was acquired by Mondelez International Inc. Croissants, bagel chips, cake bars, biscuits, and spreads were among the company's products, which were largely offered under the 7Days, Chipicao, and Fineti names. Mondelez plans to use Chipita's Central and Eastern European distribution network to expand its distribution in the region while also introducing its brands to new nations in the region and beyond.

Bakery Products Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables and Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Cakes and Pastries

      2. 5.1.2 Biscuits

      3. 5.1.3 Bread

      4. 5.1.4 Morning Goods

      5. 5.1.5 Other Product Types

    2. 5.2 By Distribution Channel

      1. 5.2.1 Hypermarkets/Supermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Speciality Stores

      4. 5.2.4 Online Retail Stores

      5. 5.2.5 Other Distribution Channels

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Adopted Strategies

    3. 6.3 Company Profiles

      1. 6.3.1 Finsbury Food Group Plc

      2. 6.3.2 Grupo Bimbo SAB de CV

      3. 6.3.3 Associated British Foods Plc

      4. 6.3.4 Mondelēz International Inc.

      5. 6.3.5 General Mills Inc.

      6. 6.3.6 Kellogg Company

      7. 6.3.7 Britannia Industries Ltd

      8. 6.3.8 Walker's Shortbread Ltd

      9. 6.3.9 Yıldız Holding

      10. 6.3.10 McKee Foods Corporation

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Bakery Products Market Research FAQs

The Bakery Products Market market is studied from 2016 - 2027.

The Bakery Products Market is growing at a CAGR of 3.8% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2021.

Finsbury Food Group Plc, Associated British Foods plc, Grupo Bimbo, S.A.B. de C.V., General Mills, Inc., Mondelēz International, Inc. are the major companies operating in Bakery Products Market.

Bakery Products Industry Reports

In-depth industry statistics and market share insights of the Bakery Products sector for 2020, 2021, and 2022. The Bakery Products research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Bakery Products report PDF.

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