According to the latest report by IMARC Group, titled “Bakery Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global bakery products market size reached US$ 497.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 625.9 Billion by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.
Bakery products comprise a wide range of baked goods that are prepared by using dry heat in an oven, hot stones, ashes, etc. They include bread, cakes, pastries, pies, cookies, donuts, etc. In line with this, these products are made by using various ingredients, such as grain-based flour, water, leavening agents, etc. They are considered fast-moving consumer goods (FMCG) and are consumed daily. Bakery products have a sweet or savory taste and fluffy texture as well as are easy to consume and store for an extended period. Presently, most traditional baking methods are replaced by modern machines.
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Global Bakery Products Market Trends:
The escalating demand for low-calorie, processed, and ready-to-eat food items, on account of the improving living standards and the inflating disposable income levels of individuals, is primarily augmenting the bakery products market. Furthermore, the growing number of artisanal bakery shops and patisseries offering several varieties of baked goods is bolstering the market growth. Apart from this, the introduction of low-calorie bakery products by leading manufacturers containing multi-grains or whole wheat and low trans-fat content, owing to the rising consumer health consciousness, is acting as another significant growth-inducing factor. Moreover, they are also developing gluten-free, vegan, lactose-free, and high-fiber variants that are made using premium-quality ingredients, which is positively influencing the global market. Besides this, the expanding food and beverage (F&B) industry and the increasing integration of robotics technology with bakery processing equipment are further catalyzing the bakery products market growth. Additionally, the emerging trend of healthy snacking is expected to fuel the bakery products market in the coming years.
Bakery Products Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
- Grupo Bimbo S.A.B de C.V.
- Yamazaki Baking Co., Ltd.
- JAB Holding Company
- ARYZTA AG
- Flowers Foods, Inc.
- Rich Products Corporation
- Dr. August Oetker Nahrungsmittel KG
- Gruma, S.A.B. de C.V.
- General Mills, Inc.
- Associated British Foods (ABF) Plc
Key Market Segmentation:
The report has segmented the global bakery products market on the basis of product type, distribution channel and region.
Breakup by Product Type:
- Biscuits
- Cookies
- Cream Biscuits
- Glucose Biscuits
- Marie Biscuits
- Non-Salt Cracker Biscuits
- Salt Cracker Biscuits
- Milk Biscuits
- Others
- Bread and Rolls
- Artisanal Bakeries
- In-Store Bakeries
- Packaged
- Cakes and Pastries
- Artisanal Bakeries
- In-Store Bakeries
- Packaged
- Rusks
- Artisanal Bakeries
- In-Store Bakeries
- Packaged
Breakup by Distribution Channel:
- Convenience Stores
- Supermarkets and Hypermarkets
- Independent Retailers
- Artisanal Bakeries
- Online Stores
- Others
Regional Insights:
- Asia-Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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