USD 35524.47 million
Bakery Products Market Size, Share, Growth Analysis, By Product type(Breads, cakes & pastries, cookies, and others), By Distribution channel (Supermarkets/hypermarkets, convenience stores, specialty stores, and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25E2039 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
65
|Figures:
75
Bakery Products Market Insights
Bakery Products Market size was valued at USD 35524.47 million in 2019 and is poised to grow from USD 38913.19 million in 2023 to USD 76406.73 million by 2031, growing at a CAGR of 9.6% in the forecast period (2024-2031).
Bakery products are prepared by cooking in the presence of dry heat in an oven, on hot stones, or hot ashes. Bread is a common diet, provides many nutrients, and it has been continued in many families since past decades. Bakery products are commonly available due to their convenience and affordability. Consumption of readily available products across the globe despite busy life may positively affect the bakery products market growth over the forecast period. The bakery products are getting traction with the launch of innovative products. It is noted that COVID-19 pandemic creates disruptions in the production as workers are limited in numbers because of the spread of infection, and hence resulted in negatively affecting the market growth.
US Bakery Products Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Cakes & pastries
Fastest Growth
Cakes & pastries
Growth Rate
9.6% CAGR
Global Bakery Products Market, 2021-2028 ($ Bn)
Country Share for Europe Region- 2021 (%)
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Bakery Products Market Segmental Analysis
Global bakery products market is segmented based on the product type, distribution channel, and region. Based on product type, the market is segmented into breads, cakes & pastries, cookies, and others. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, specialty stores, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Bakery Products Market Analysis by Product Type
Based on product type, the global bakery products market is segmented into breads, cakes & pastries, cookies, and others. Breads segment is anticipated to significantly grow with respect to the rise in product demand owing to the easy & fast availability.
The cakes & pastries segment is expected for the fastest growth during 2022 – 2028 due to the largest market share attributing to the novel flavours and increasing consumer disposable income as compared to the past decade. The increasing population in the Asia Pacific region may provide long-term business opportunities, resulting in the segment growth.
The cookies product segment may also hold a healthy growth in future owing to the introduction of new flavours, shapes, and textures in the product.
Bakery Products Market Analysis by Distribution Channel
Based on distribution channel, the bakery products market is segmented into supermarkets/hypermarkets, convenience stores, specialty stores, and others. The key distribution channels are specialty stores and convenience stores in the global market; and specialty stores will lead the market and will be the fastest-growing segment, over the forecast period. The specialty stores are independent stores, majorly constitute artisanal bakery products. The bakery producers made the products with functional ingredients with respect to the increasing health consciousness. The functional ingredients include legumes, oats, probiotics, fortified margarine, and cereals, in their products.
Global Bakery Products Market By Product type, 2021 (%)
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Bakery Products Market Regional Insights
Europe holds the largest revenue share in the global bakery products market, and is also expected to be the second fastest-regional market with respect to the increasing demand for bakery products including high-fiber, gluten-free, and trans-fat products. The developed markets of Western Europe are matured and saturated in terms of bakery products, and the markets of Eastern Europe commonly focus on the sales of biscuits and bread due to the high demand for convenient food products. The European market is well-established in terms of the supply chain, product array, distribution channels, and consumer preferences for bakery products. The new product development enhances the taste and preference with innovations in cakes, pastries, and cookies section, because these products hold the potential for higher sales attributing to the growth for instant and nutritious baked products.
The fastest growing region in terms of bakery products would be Asia pacific during the forecast timeline because of the presence of major companies in emerging countries like India, China, Singapore, and Japan coupled with the growing population and per-capita income levels which will bring more business opportunities. Breakfast grains and cereals are a preferable choice in most countries like China and India, which will also boost the market.
The United States drives the North America regional market in bakery products on the account of the high consumption of cakes, pastries, and breads. Mexico is the fastest growing country in the region on bakery products.
Global Bakery Products Market By Geography, 2021-2028
- Largest
- Fastest
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Bakery Products Market Dynamics
Bakery Products Market Drivers
Ready-to-Eat Trend is Creating Lucrative Growth Opportunities for Players in the Global Bakery Products Market
- The busy lifestyle led the bakery products to upscale the market growth as ready-to-eat products can solve the problem of cooking. The convenient foods include cookies, bread, cakes, frozen pizza, tortillas, and others which will significantly drive the sales of the bakery products.
Bakery Products Market Restraints
Unhealthy Side Effects of Consuming Bread to Hinder Market Growth
- The growing health issues such as weight gain, and high consumption of gluten from bakery foods are restraining the growth of the global bakery products market because most of the developed countries are starting to avoid it as they may get addicted to the products of bakery products, and its high consumption will lead to obesity and diabetes.
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Bakery Products Market Competitive Landscape
Global bakery products market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Bakery Products Market Top Player's Company Profiles
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Grupo Bimbo
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Yamazaki Baking Co. Ltd.
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Finsbury Food Group Plc
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Flowers Foods Inc.
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Hostess Brands LLC
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McKee Foods Corporation
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Mondelez International Inc.
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Nestlé S.A.
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PepsiCo Inc.
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General Mills Inc.
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JAB Holding Company
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Conagra Brands Inc.
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Dawn Foods Products Inc.
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Rich Products Corporation
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The Hershey Company
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Campbell Soup Company
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Tyson Foods Inc.
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Maple Leaf Foods Inc.
Bakery Products Market Recent Developments
- In September 2022, Kemin Industries, a global ingredient producer, launched new clean label bakery solutions at International Bakery Industry Exposition (IBIE) 2022.
- In April 2022, the Kraft Heinz Company announced the acquisition of Companhia Hemmer Indústria e Comércio, which is also termed as ‘Hemmer’, a food company located in Santa Catarina, Brazil. This will likely enable the development of both the companies in the future.
- In February 2022, the Kraft Heinz Company and TheNotCompany announced a joint venture made with the focus on sustainability in future. This acquisition will drive innovations by utilizing the strengths of both the companies.
Bakery Products Key Market Trends
- Increasing health consciousness among consumers are supporting in creating the awareness more about the ingredients used in baking, and the benefits from the baked goods including gluten free content, and high fiber. Furthermore, sugar free content is getting more privilege worldwide in order to maintain the health. According to Ingredion’s Sugar Reduction Resource Center’s bakery perspective, 42% of consumers are more serious about the reduction in the amount of sugar.
Bakery Products Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global bakery products market analysis, the rising health awareness in the Asia Pacific region to consume food products which are low in sugar, and carbs are boosting the bakery products market growth as most bakery products claim sugar-free content and so on. Bakery products which are gluten free, sugar-free, fat-free, salt-free, and whole wheat are likely to drive the sales of the products and this will enhance the growth of bakery products globally. Because these types of products can prevent obesity, bloating, indigestion, and diabetes.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 35524.47 million |
| Market size value in 2031 | USD 76406.73 million |
| Growth Rate | 9.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Bakery Products Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Bakery Products Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Bakery Products Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Bakery Products Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bakery Products Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Bakery Products Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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