Bakery Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Global Bakery Products Market is segmented by Product Type (Cakes and Pastries, Biscuits, Bread, Morning Goods, and Other Prodcut Types), by Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Speciality Stores, Online Retail Stores, and Other Distribution Channels), and by Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa).

Market Snapshot

Bakery Products Market Bar Graph
Study Period:

2016 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

Europe

CAGR:

2.6 %

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Market Overview

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
Biscuits
Bread
Morning Goods
Other Product Types
By Distribution Channel
Hypermarkets/Supermarkets
Convenience Stores
Speciality Stores
Online Retailing
Other Distribution Channels
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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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.

Bakery Products Market Share

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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.

Bakery Products Market Growth By Region

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Competitive Landscape

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.

Recent Developments

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. 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 Retailing

      5. 5.2.5 Other Distribution Channels

    3. 5.3 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 Active Companies

    3. 6.3 Most Adopted Strategies

    4. 6.4 Company Profiles

      1. 6.4.1 Finsbury Food Group Plc

      2. 6.4.2 Grupo Bimbo

      3. 6.4.3 Associated British Foods Plc

      4. 6.4.4 Mondelez International

      5. 6.4.5 Bakers Delight Holdings Limited

      6. 6.4.6 Dunkin' Brands

      7. 6.4.7 Britannia Industries Ltd

      8. 6.4.8 Flowers Foods

      9. 6.4.9 General Mills Inc.

      10. 6.4.10 Pladis Ltd

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

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Global Bakery Products Market market is studied from 2016 - 2026.

The Global Bakery Products Market is growing at a CAGR of 2.6% over the next 5 years.

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

Europe holds highest share in 2020.

  • 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.

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