Market Size of Premium Bakery Products
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.25 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Premium Bakery Products Market Analysis
Premium Bakery Products Market is projected to register a CAGR of 6.25% during the forecast period (2022-2027).
The COVID-19 pandemic has affected the premium baked products sector heavily. The market's negative impact was caused by the disruption of global supply chains, which resulted in enterprises closing down their operations or operating with reduced employees, resulting in poor production. Furthermore, customers stacking long-life commodities, such as cookies, resulted in lower market availability, leading to the unavailability of products as per consumers' needs, ultimately affecting the market.
There is a rise in the health-conscious population globally, this resulted in the sale of premium bakery products gaining momentum, products containing whole wheat, less sugar, and plant-based ingredients are now in trend mainly due to the pandemic.
Over the medium term, the factors which will affect the market are, a growing health-conscious population globally, an increase in expenditure on premium products, ease of availability of premium products through online sales channels, growing personal disposable income, and the rising demand for premium products in the rapidly developing economies such as India.
As per the data from International Diabetic Federation, the total number of people living with diabetes is projected to rise to 643 million by 2030, these alarming numbers generate the need for bakery products that contain premium ingredients which are not harmful to health. The market is anticipated to be significantly pushed in the medium term by launch of premium whole wheat, light (low calorie), natural, and additive-free bakery products. In 2022, Zeelandia has collaborated with InnoV to create free-from products such as a premium gluten-free croissant to be showcased at the Free From Functional Food Expo in Spain. During the forecast period, the growing accessibility of these premium bakery goods would further support market expansion.
