|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The global bakery products market is projected to witness a CAGR of 2.6% during the forecast period, 2021-2026.
COVID-19 had a significant impact on the bakery products market. Many bakers had to close their businesses during the peak of the pandemic due to insufficient sales of bakery products and a shortage of workers. Along with, disruptions in logistic facilities due to the lockdown affected the supply chain, leading to the unavailability of products as per consumers’ needs, ultimately affecting the market. Moreover, the inaccessibility of raw materials hampered production in this market during the lockdown. The smaller bakers in the unorganized sector were the most affected by all of these constraints, as stated by the All India Bread Manufacturers Association.
On the other hand, bakery products (especially bread) have been a staple diet for people all over the world for centuries. The convenience, accessibility, and nutrition profile associated with them are the major factors that have sustained these products in the modern market. Bakery products are included in people's daily diet not only in the developed economies but also in underdeveloped or developing economies. All of these factors have contributed to the growth of this market even during the lockdown, and they 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. In recent years, growth in the sales of whole wheat, wholemeal, and gluten-free bakery products is an important indication of this new trend of wellness in the market. The increased availability of such specialized bakery products will further aid the market growth during the forecast period.
Scope of the Report
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 others 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 Middle East and Africa. The report contains top-line revenues and market share analysis of the key players, highlighting the most adopted strategy of the companies in the bakery products market.
|By Product Type|
|Cakes and Pastries|
|Other Product Types|
|By Distribution Channel|
|Other Distribution Channels|
Key Market Trends
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 out of 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.
Moreover, according to the Agriculture and Horticulture Development Board, United Kingdom, the free-from food market is expected to record an average growth of 10% every year for the next three years, and the share of bakery products and cookies in the free-from food category is around 35%. This, in turn, is indicating a lucrative market opportunity for free-from bakery products.
To understand key trends, Download Sample Report
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 matured and saturated when it comes to 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 European bakery products market is well-established in terms of the supply chain, product array, distribution channels, and consumer preferences. Innovations and new product development are increasingly observed in the indulgence-categories, like cakes, pastries, and cookies. The traditional morning goods 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.
To understand geography trends, Download Sample Report
The global bakery product market is a highly competitive market, particularly with the significant presence of numerous global and regional players. The market share analysis does not account for revenue from artisan bakeries, but only the revenue for retail channels and food services. 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. The strategies of expansion and partnership agreement have been crucial behind the development of bakery product companies.
In November 2020, ITC’s Sunfeast brand expanded its 'cake' category, by launching Sunfeast Caker. Sunfeast Caker is available in three formats, namely Trinity, Choco Swiss Roll, and Layer Cake, across India.
In April 2019, Puratos India launched four new products catering to the bakery, patisserie, and chocolate industry, namely Tegral Satin Purple Velvet EF, Fruitfil Range, Carat Supercrem Nutolade, and Tegral Red Velvet Sponge Mix.
In June 2018, Mondelēz International invested USD 200 million in its Opava Czech Republic biscuit manufacturing facility, which employs nearly 1,000 people and produces Power Brands like Oreo, belVita, Milka and Cadbury, for the European market.
Table of Contents
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Cakes and Pastries
5.1.4 Morning Goods
5.1.5 Other Product Types
5.2 By Distribution Channel
5.2.2 Convenience Stores
5.2.3 Speciality Stores
5.2.4 Online Retailing
5.2.5 Other Distribution Channels
5.3.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
5.3.4 South America
188.8.131.52 Rest of South America
5.3.5 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Saudi Arabia
18.104.22.168 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Share Analysis
6.2 Most Active Companies
6.3 Most Adopted Strategies
6.4 Company Profiles
6.4.1 Finsbury Food Group Plc
6.4.2 Grupo Bimbo
6.4.3 Associated British Foods Plc
6.4.4 Mondelez International
6.4.5 Bakers Delight Holdings Limited
6.4.6 Dunkin' Brands
6.4.7 Britannia Industries Ltd
6.4.8 Flowers Foods
6.4.9 General Mills Inc.
6.4.10 Pladis Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The Global Bakery Products Market market is studied from 2016 - 2026.
What is the growth rate of Global Bakery Products Market?
The Global Bakery Products Market is growing at a CAGR of 2.6% over the next 5 years.
Which region has highest growth rate in Global Bakery Products Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Bakery Products Market?
Europe holds highest share in 2020.
Who are the key players in Global Bakery Products Market?
Finsbury Food Group Plc, Associated British Foods plc, General Mills Inc. , Mondelēz International, Grupo Bimbo are the major companies operating in Global Bakery Products Market.