Market Size of North America Bakery Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.08 % |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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North America Bakery Market Analysis
The North America Bakery Products Market size is estimated at USD 99.47 billion in 2023, and is expected to reach USD 110.25 billion by 2028, growing at a CAGR of 2.08% during the forecast period (2023-2028).
Changing consumer trends for bakery products that offer high nutritional value and convenience at the time of COVID-19 is accelerating the market's growth in the region. During the outbreak of coronavirus, North American consumers were conscious about their health, immunity, and energy, which raised the demand for baked foods which is gluten-free and are not only followed by celiac patients but also by the general health-conscious , low carb, low fat and high protein. As per the (IFIC) International Food Information Council's Food & Health Survey in 2021, most people are pursuing beneficial health factors from foods.
There is a steady consumption growth with regards to bread. The trend is expected to remain the same in the forecast period; however, ancient grains, organic grains, and custom blends of wheat flour are expected to record higher sales, with the growing demand for health-promoting bakery products that are minimally processed with lesser preservatives, lesser trans fats, are rich in protein, and have other essential micro-nutrients. Moreover, due to urbanization and the increase of the working population, the growth of out-of-home consumption is rising, which increases the demand for instant and nutritious bakery products. This trend has been fueling the vigorous growth of bakery products in the regions of North America.
Commercial bakeries, although fewer in numbers than retail stores, generate almost 80% of the total bakery industry profits in the region. Commercial bakeries are well-established, with key players dominating the scenario, whereas retail stores are more fragmented. Now a day's, people have a hectic lifestyle which increases the demand for ready-to-cook and ready-to-eat food commodities such as cookies, bread, cakes, tortillas, biscuits, and frozen pizza. The North American bakery products were readily available in supermarkets, hypermarkets in-store, and online delivery options were also there, which was very convenient for the consumers and maintained the market's growth during the pandemic.
