Bakery Market is valued at USD 119.75 Billion in 2021 and is expected to reach USD 169.85 Billion by 2028 with a CAGR of 5.12% over the forecast period.
Global Bakery Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2026. Increasing consumption of ready-to-eat foods across the globe owing to hectic lifestyle, increased snacking and indulgence consumption are some of the major factors which are expected to fuel the growth of the global bakery market.
A bakery is a formation that produces and sells flour-based food baked in an oven such as bread, cookies, cakes, pastries, and pies. Some retail bakeries are also categorized as cafés, serving coffee and tea to customers who wish to consume the baked goods on the evidences. As a baker, they can challenge by creating new recipes and inventing new products to improve sales and customer satisfaction. Also, they can express its ideas by experimenting on different ingredients and incorporating different styles in decorating products. Growing acceptance of convenience foods owe to the rising consumption of bakery products worldwide. Bread improvers are used to enhance color, texture, taste, and stability of bakery products such as bread, cakes, buns, rolls, croissants, pizza, biscuits, and donuts. Bakery manufacturers are focusing to improve their product offerings to meet the changing consumer preferences and demand. The demand for different varieties of bread such as whole wheat and multigrain fuels the demand for bread improvers.
Global bakery industry analysis report covers prominent players are like
Global Bakery market report is segmented on the basis of product type, application, and region & country level. Based on product type, the bakery market is classified into bread and rolls, cakes and pastries, cookies, and others. Based upon application, the bakery market is classified into food process, bakery, supermarket, and others.
The regions covered in this Global Bakery market report are North America, Europe, Asia-Pacific, and the Rest of the World. On the basis of country level, the market of Bakery is subdivided into the U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Increasing consumption of ready-to-eat foods across the globe owing to hectic lifestyle, increased snacking and indulgence consumption are some of the major factors which are expected to fuel the growth of the global bakery market. People now prefer nutritional small quantity of ready to eat food rather than traditional large meals due to busy lifestyle. Ready-to-eat food products are more popular among the younger working-class consumers as they hardly find time to cook food due to their busy lifestyles and thus the ready to eat food manufacturers are focused on providing low-cost affordable products. According to food industry statistics, trends & analysis, 5% of people who consume ready to eat meals say that they believe the food items they purchase are healthier than what would be chosen to eat at home if they made something. 31% admit that RTE meals are affordable for their lifestyle. According to FONA International Inc. company with 83% of consumers snacking daily and 26% of those consumers snacking between meals to treat or reward themselves, there is no doubt that consumers have become serious snackers, and a large portion are indulgent snackers, to boot.
However, the bakery product market involves high energy usage and logistics and storage costs as the products have to be transported in specially designed automotive components equipped with state-of-the-art refrigeration capabilities. These factors may restrain the market growth to some level. In spite of that, advancement in food processing technology has enabled manufacturers to introduce innovative products and new technological innovation can provide a growth opportunity for the bakery market.
North America is expected to dominate the growth of the Bakery market due to the rapid urbanization and rising demand for convenience food. Urbanization, the worldwide increase in the working population, the growth of out-of-home consumption, and increased demand for instant and nutritious products are fostering the growth of the market share of bakeries in the food industry in this region. According to the Department of Economic and Social Affairs, the most urbanized regions include Northern America with 82% of its population living in urban areas in 2018. The urban population of the world has grown rapidly 4.2 billion in 2018.
Asia, despite its relatively lower level of urbanization, is home to 54% of the world’s urban population, followed by Europe and Africa with 13% each. In addition, advancement in food processing technology has enabled manufacturers to introduce innovative products with better taste, appearance, and enhanced nutritive value. This can provide a growth opportunity for the bakery market in Asia pacific. Europe is expected to witness significant growth in the global bakery market due to the rising prominence of in-store bakeries in supermarkets.
August 1st, 2019; Hostess Brands, Inc. entered into a definitive agreement to sell its Superior Cake Products, Inc. in-store bakery business to Sara Lee Frozen Bakery for a purchase price of USD65 million in cash, subject to post-closing adjustments. The transaction is expected to close during the third quarter, subject to customary closing conditions. The Company expects to use the net proceeds from the transaction to pursue a range of potential strategic options, including reinvesting in its business, de-leveraging its balance sheet and pursuing potential strategic acquisitions, while effectively managing its capital structure.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 119.75 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||5.12%|
|Market Size Expected in 2028:||USD 169.85 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Hostess Brands LLC, McDonald's, Kelloggs Company, Bruegger Enterprises, Warburtons Ltd., The Great Canadian Bagel Ltd., Canada Bread Company, Frank Roberts and Sons Ltd., Britannia Industries Ltd., BAB Inc., Noah Restaurant Group Inc., Mondelez International Inc., Flowers Foods Inc., Bimbo Bakeries USA, and others|
|Segments Covered||By Product Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|