Fortified Bakery Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Fortified Bakery Market Analysis
The global fortified bakery market is projected to register a CAGR of 6.1% during the forecast period (2022-2027).
During the COVID-19 peak period, sales of non-edible products such as disinfectants, toilet paper, paper goods, and hand sanitizer were high in demand, and the sales of edible products such as bakery, meat products, and many others were up to the mark as the supply of bakery was insufficient as many of the bakers have shut operations due to shortage of labors. Along with this, disruption in logistics facilities due to the lockdown has created more issues in the market as consumers were not getting products as per their requirements which ultimately affected the market. Another factor that has created an impact on the market is the lack of raw material availability, due to which production of products was not proper. Due to these issues, smaller bakers in the unorganized segment are the worst affected, as stated by Mago, who is also a president of the All India Bread Manufacturers Association. Therefore, the demand from the household sector for bakery products has increased; on the other hand, the food services sector has faced a decline in the market for bakery products, which were considered to be one of the most demanding products in the food service sector.
Consumer inclination toward healthy food and convenience products is the leading driver leading innovations and growth in the fortified bakery market. Urbanization, the worldwide increase in the working population, the growth of out-of-home consumption, and increased demand for instant and nutritious products have been fueling the continuous sales of bakery products.
The cake and pastry segment is on the rise in the market. With the increasing demand for premium and customized cakes, the overall cake segment is witnessing an increase in demand.
Fortified Bakery Market Trends
This section covers the major market trends shaping the Fortified Bakery Market according to our research experts:
“Good for Health” Food is Driving the Demand for Fortified Bakery
The growth of the global fortified bakery market can be attributed to the increasing health consciousness among consumers going for an all-around nutrient-rich diet. The ever-increasing population, growth in the female working population, and the changing eating behaviors have contributed significantly to the growth of the bakery industry. Fortified bakery market such as cakes, cookies, biscuits, cupcakes, and pancakes enriched with various nutrients has uplifted the global market to a great extent. The availability of different varieties of bakery products such as gluten-free, organic, sugar-free, low-calorie, and fortified has attracted a big number of population towards fortified bakery products due to their various health benefits. Additionally, rising awareness of weight management is foreseen to uplift the sales of gluten-free and low-calorie bakery products.
To understand key trends, Download Sample Report
North America Dominate the Fortified Bakery Market
The global fortified bakery market is primarily dominated by North America, followed by Europe, where bakery products are considered a staple food. The Chinese and Indian population are increasing their demand for fortified bakery products, which prefer high nutrition levels despite being high in cost. The rising young population, along with busy, on-the-go lifestyles, often dictates a need for a quick meal. Many opt for fast food options that are low in calories and high on health benefits and taste too. The Indian consumers want high nutrient content along with the taste such that they want full value for money on their fortified bakery products. Exploring bakery experience- with both global and regional tastes, nutritional authentic preparation methods are on the rise in developing countries like India and China.
To understand geography trends, Download Sample Report
Fortified Bakery Industry Overview
Companies are actively involved in developing innovative products so as to enhance their product quality and increase the health benefits for the public in general. Some of the major players in the fortified bakery market are Associated British Foods PLC, Britannia Industries Ltd., Dawn Food Products, Inc., Modern Foods Enterprises Pvt. Ltd., Irish Pride Fine Foods, H&S Bakery, Inc., CRUST - a baking company, Super Bakery, Inc., and Allied Bakeries, among others. The companies are focused on enhancing their sales and distribution network and their consumer reach to ultimately strengthen their market position. Mergers and acquisitions are a primary strategy implemented by major companies. Moreover, key companies are heavily investing in research and development to develop and launch new products with exciting flavors to satiate the demand for cakes and pastries across the country.
Fortified Bakery Market Leaders
Associated British Foods PLC
Britannia Industries Ltd
Dawn Food Products
Modern Foods Enterprises
H&S Bakery, Inc
*Disclaimer: Major Players sorted in no particular order
Fortified Bakery Market News
- In March 2022, Moulins Dumée launched its Chanvrine flour mix for bakery derived from the French word 'chanvre,' meaning 'hemp.' Moulins Bourgeois also launched its hemp-fortified bread combined with flaxseed. The combination provides a duo of protein, fiber and omega 3s sources.
- In January 2022, Nirogam Ayurveda, one of India's oldest Ayurveda e-shops brand launched its new food sub-division.The new division which is launched is called Mysca. Under this division, they launched Ayurvedically fortified food items e.g. cookies, crispies, jam, etc.
- In July 2021, The Italian Baker Sdn. Bhd., unveiled a limited-edition, artisanal, multigrain sandwich loaf in Malaysia under its Massimo brand of fortified breads and baked goods. Massimo 'seeded multigrain bread with barley' is claimed to be enriched with a blend of high-quality Canadian barley, chia seed, flaxseed, sunflower seed, and black sesame - all of which are rich sources of vitamins and minerals.
Fortified Bakery Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
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
5.1.4 Morning Goods
5.2 By Distribution Channel
5.2.1 Specialist Retailers
5.2.3 Online Retail Channels
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 Saudi Arabia
126.96.36.199 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Associated British Foods PLC
6.4.2 Britannia Industries Ltd.
6.4.3 Dawn Food Products, Inc.
6.4.4 Modern Foods Enterprises Pvt. Ltd.
6.4.5 Irish Pride Fine Foods
6.4.6 H&S Bakery, Inc.
6.4.7 CRUST - a baking company
6.4.8 Super Bakery, Inc.
6.4.9 Allied Bakeries
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Fortified Bakery Market Research FAQs
What is the current Fortified Bakery Market size?
The Fortified Bakery Market is projected to register a CAGR of 6.1% during the forecast period (2023-2028).
Who are the key players in Fortified Bakery Market?
Associated British Foods PLC, Britannia Industries Ltd, Dawn Food Products, Modern Foods Enterprises and H&S Bakery, Inc are the major companies operating in the Fortified Bakery Market.
Which is the fastest growing region in Fortified Bakery Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Fortified Bakery Market?
In 2023, the North America accounts for the largest market share in the Fortified Bakery Market.
Fortified Bakery Industry Report
Statistics for the 2023 Fortified Bakery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Fortified Bakery analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.