Global Bakery Product Market By Product, By Distribution Channel, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Bakery Product Market Overview:

The Bakery Product Market size is expected to be worth around USD 741.72 billion by 2032 from USD 428.7 billion in 2021, growing at a CAGR of 5.11% during the forecast period from 2022 to 2032.

Over the next few years, the global demand for bakery products will increase due to the increasing consumption of ready-to-eat foods. There has been an increase in European bakery product demand because of the growing popularity of ethnic foods and the success of Mexican and Thai cuisines in restaurants.

Organic products are very healthier and significantly increase demand for whole wheat, light, and natural bakery products. Bakery products gaining popularity among the health-conscious consumer category because bakery products claim to be salt-free, fat-free, sugar-free, whole wheat, and gluten-free product.

Global Bakery Market Analysis

Product Analysis

The industry’s growth is affected by many factors, such as flavors and fats, texture, and sweetness. Due to significant increases in product demand in the Asia Pacific and North America, the breads & rolls market segment is expected to see significant growth. The largest market share is expected to be held by cakes & pastries, which will see the most bakery products market growth due to new flavors and increasing consumer disposable income.

Long-term opportunities will be available for industry players as a result of the growing population in the Asia Pacific. Due to the introduction of new flavors, shapes, and textures, the cookies segment will see healthy growth.

Distribution Channel Insights

Specialty stores and Convenience stores are the main distribution channels in the global marketplace. The segment with the fastest-growing segment is expected to continue to be dominant over the forecast period. It is expected that it will account for over 35% of the total largest share of the market by 2032.

The majority of specialty stores, including independent ones, sell artisanal bakery goods. The rising health concerns have prompted bakery producers to include functional ingredients in their products, such as legumes and oats, probiotics fortified margarine, cereals, and probiotics. This will increase market growth by ensuring that new products are constantly developed.

In the product type, the biscuit segment contains various types of biscuits like cream biscuits, Marie biscuits, glucose biscuits, non-salt cracker biscuits, milk biscuits, and others. The bakery product market has categorized on the basis of product type, and distribution channel.

Key Market Segments

By Product

• Breads & Rolls
• biscuits
• Cookies
• Cakes & Pastries
• Pretzels
• Tortillas
• Other Products

By Distribution Channel

• Hypermarkets & Supermarkets
• Specialty Store
• Convenience Stores
• Other Distribution Channel

Market Dynamics

Major corporations are increasing their geographic presence in order to increase their market share. Joint warehouses will be a key success factor for companies. A rise in snack consumption is expected to drive the fastest CAGR for cakes & pastries from 2023 to 2032.

Asia Pacific is predicted to experience the fastest CAGR over forecast years because of the strong presence in emerging markets such as China and India. These countries are also expected to see a rise in per-capita earnings, which will help the region grow. For baking bakery products, the basic ingredients are milk, emulsifiers, as well as flour.

The availability and price of materials are major factors in the pricing of bakery products. Many companies like Dawn Foods and Bakers have integrated backward to reduce supply-demand imbalances. The increasing popularity and changing customers’ consumption patterns, increase in consumer demand for convenience food and rise in the growth of the bakery products market. The increase in consumer preference for convenience food indirectly increases demand for frozen bakery products.

Because frozen bakery products require special components that are equipped with modern refrigeration capabilities, they can be very energy-intensive and costly to store. These factors can limit the market growth. Milk, emulsifiers, stabilizer, flavors, sugar, and flour are basic raw materials for manufacturing bakery products.

Regional Analysis

Europe is expected to be a dominant market with a revenue share of 36% in 2021, due to the high demand for baked goods, including gluten-free, high fiber, and trans fat products. These products are stapled foods. The Asia Pacific is expected to grow the fastest in the coming years due to the presence of key companies in emerging markets such as China and India.

A rising population and increased per-capita earnings levels are expected to create growth opportunities in emerging markets. Further, the market will continue to grow due to rising demand in India and China for breakfast cereals.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • United Kingdom
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Brand loyalty and high capital investments will keep fierce competition at bay. Major companies concentrate on business growth. They implement various growth strategies including joint ventures. Mergers & Acquisitions. Strategic partnerships with regional producers. Diversification of distribution channels.

Kraft Food Group, Inc., Nestle S.A., Mondelez International, Inc, Finsbury Food Group Plc, Quality Foods Inc., Bimbo Bakeries USA, Britannia Industries Ltd., Kraft Heinz Company, Cole’s Quality Foods Inc., Honeyrose Bakery Ltd., BRIDGFORD FOODS CORPORATION, Cole’s Quality Foods Inc. and KELLOGG COMPANY are some of the major players in this industry.

Маrkеt Кеу Рlауеrѕ:

• Kraft Food Group Inc.
• Nestle SA
• Bimbo Bakeries USA
• Britannia Industries Ltd.
• Britannia Industries Limited (India)
• Mondelez International, Inc
• Honeyrose Bakery Ltd.
• KELLOGG COMPANY
• General Mills Inc.
• Associated British Foods PLC
• Campbell Soup Company
• Other Key Players

For the Bakery Products Market research study, the following years have been considered to estimate the market size: