Bakery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Bakery Products Market Trends & Sales Forecast and It 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 Market Size

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Bakery Products Market Summary
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Study Period 2019-2029
Market Size (2024) USD 621.58 Billion
Market Size (2029) USD 810.45 Billion
CAGR (2024 - 2029) 5.45 %
Fastest Growing Market Asia Pacific
Largest Market Europe

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 size is estimated at USD 621.58 billion in 2024, and is expected to reach USD 810.45 billion by 2029, growing at a CAGR of 5.45% during the forecast period (2024-2029).

  • Growing preference toward convenient foods, the rising ex-pat population, and changing lifestyles are 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 instance, bakery products like biscuits are being innovated and specifically produced to meet consumers' changing lifestyles and demands.
  • Furthermore, 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. 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 demand for healthy food drives the need for whole grain, gluten-free, and multigrain bakery products. Therefore, manufacturers capitalize on customers' demand to increase their market share. For instance, in February 2022, Dr Schär UK Ltd., a gluten-free manufacturer, announced the acquisition of Glasgow-based bakery GDR Food Technology Ltd., t/a Just: Gluten Free Bakery. GDR specializes in gluten-free baked goods such as bread, rolls, teacakes, and flatbread. These factors are expected to boost the growth of this market over the forecast period.

Bakery Products Market Trends

Surge in Demand for 'Free-from' Food Products

  • People with celiac disease and the general health-conscious population prefer free-from-food products (mainly gluten-free). The demand for gluten-free products arises from the belief that gluten-free and sugar-free edibles help overcome problems related to bloating, indigestion, obesity, diabetes, etc. Thus, bakery products, which claim to be fat-, sugar-, and gluten-free, are gaining popularity among health-conscious consumers. 
  • 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, 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 United Kingdom-based natural confectionery company Prodigy introduced the "Phenomenons" 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 Bakery Market

  • Consumers' changing lifestyles induce them to opt for convenient and ready-to-eat food products such as bread, cookies, biscuits, frozen food products, and cakes. The development of new products in the European bakery market continues to be influenced by trends in health and well-being. Customers nowadays are demanding healthier alternatives with 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 demand for bread containing fiber, whole grain, gluten-free bakery products, etc., supports the market growth. 
  • For instance, in April 2022, Warburtons, a United Kingdom bakery company, announced the debut of a new range of sliced loaves called Seeds & Grains, available in recyclable paper packaging. Big 21 contains 21 varieties of seeds and grains; Plant Power, a blend of pulses, grains, and seeds; and Make It Grain, which has Maris Otter barley malt grain, are the three new 700g loaves. The loaves are made entirely of wholemeal flour, are high in fiber and protein, and are low in saturated fat and sugar.
Bakery Products Market : Market Size (%), By Region, Global, 2022

Bakery Products Industry Overview

The global bakery products market is highly competitive, particularly with the significant presence of numerous global and regional players. Finsbury Food Group Plc, Mondelez International, General Mills Inc., Associated British Foods Plc, and Grupo Bimbo are leading market players. The players in the market adopt strategies like acquisitions and expansions to penetrate the market. For instance, in January 2023, Mondelez India launched a new Cadbury Choco Bakes Choc Chip Cookies by expanding into the choco-chip cookie space.

Bakery Products Market Leaders

  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
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Bakery Products Market News

  • February 2023: Hostess Brands Inc. unveiled Hostess Kazbras, a novel snack cake that blends layers of cake, cream, candy crunch, and caramel, offering consumers a unique candy-bar-inspired treat.
  • January 2023: Sara Lee, a brand under Bimbo Bakeries USA, introduced a new white bread infused with vegetables. Each loaf, fortified with vitamins A, D, and E, contains the nutritional equivalent of one cup of veggies, aligning with the company's commitment to healthier bread options.
  • January 2023: The Campbell Soup Company announced plans to centralize its snack offices from Charlotte, North Carolina, and Norwalk, Connecticut, into its Camden headquarters. To accommodate this consolidation, the company intends to invest over USD 50 million in upgrading its Camden facilities over the next three years, leveraging the site's refurbishment for its revamped offices.

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

      1. 4.1.1 Surge in Demand for 'Free-from' Food Products

      2. 4.1.2 Demand For Convenient And Healthy On-the-go Snacking Options

    2. 4.2 Market Restraints

      1. 4.2.1 Health Risk Associated with Certain Ingredients

    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 Supermarkets/Hypermarkets

      2. 5.2.2 Convenience/Grocery 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 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    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

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Bakery Products Industry Segmentation

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. The market has been segmented based on product type 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/grocery 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 based on value (in USD).

By Product Type
Cakes and Pastries
Biscuits
Bread
Morning Goods
Other Product Types
By Distribution Channel
Supermarkets/Hypermarkets
Convenience/Grocery 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 Research Faqs

The Bakery Products Market size is expected to reach USD 621.58 billion in 2024 and grow at a CAGR of 5.45% to reach USD 810.45 billion by 2029.

In 2024, the Bakery Products Market size is expected to reach USD 621.58 billion.

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

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Europe accounts for the largest market share in Bakery Products Market.

In 2023, the Bakery Products Market size was estimated at USD 587.70 billion. The report covers the Bakery Products Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bakery Products Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Bakery Products Industry Report

The market for bakery items such as Bread, Cake, Cookies, Muffins, Bagels, Donuts, Croissants, Pies, Rolls, and Biscuits is experiencing a rise in demand due to evolving lifestyles and an increasing preference for easy-to-eat foods. Innovations in these bakery items, like Biscuits made with natural ingredients, are attracting consumers, especially those with specific dietary requirements. Bakery items, particularly Bread, have been a fundamental part of diets worldwide for centuries, and their convenience, availability, and nutritional content have maintained their place in today's market. The growing trends of "natural nutrition," "healthy living," and "organic products" have significantly boosted the demand for whole wheat, light, natural, and additive-free bakery items. The market is divided based on the type of product, distribution channel, and location. The major market trends include a rise in demand for 'Free-from' food items, with Europe leading the consumption of bakery items. The global market for bakery items is highly competitive, with numerous global and regional competitors. Manufacturers are launching various clean-label, gluten-free, and uniquely flavored bakery items to expand their consumer base. For a more comprehensive analysis, a free PDF download of the report is available.

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Bakery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)