Bakery Products Market Size

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.