Bakery Products Market Emerging Trends and Prospects 2027 with Leading Vendors
Market Insights
The global demand and consumption of bakery products is increasing and is expected to continue to do so. This is primarily due to increasingly widespread urbanization, rising disposable incomes, and changing lifestyles which have encouraged consumers to turn toward convenient foods. Rising disposable incomes have propelled the demand for gourmet products. Additionally, the changing trends and development of new and unique baked goods recipes have given rise to various forms of innovative bakery products, thus driving considerable growth.
Market Research Future (MRFR) has published a comprehensive report which analyzes relevant bakery products market segments, regions and strategies used by key market players to identify trends, restraints and other factors that affect growth. MRFR's detailed analysis has revealed a CAGR of 5% during the forecast period of 2016 to 2022.
However, the increasing health awareness amongst the consumers has resulted in their shift in preferences of food. The wide variety of options available for consumer has led to variations in consumers preferences for food products. The shifting consumption pattern and increasing population of consumer adopting healthy life-style might refrain the growth of bakery products market. There has been increasing controversies about less nutrients and spoilage due to microbial contamination which has declined the consumption of bakery products amongst the health conscious consumers.
Global Bakery Products Market - Competitive Analysis
Key players are focusing on acquisitions to expand their businesses across the globe. Acquisition has become the major strategy for key players in the last few years. Business expansions and new product launches are two main factors which are contributing significantly in order to help the company to increase their production capacity in order to fulfill increasing demand for various bakery products.
The key players profiled in bakery products are Barilla Holding S.p.A. (Italy), Britannia Industries Limited (India), Grupo Bimbo, S.A.B. de C.V. (Mexico), Mondelez International, Inc. (U.S.), General Mills, Inc. (U.S.), Dunkin' Donuts LLC (U.S.), and United Biscuits among many others.
Market Segmentation
The global bakery products market has been segmented by type, form, specialty type and by region.
By type, the market has been segmented into cake & cheesecake, bread & rolls, doughnuts & muffins, biscuits & cookies, cupcakes & brownies, pancakes and waffles, pies & tarts, sandwiches & wraps and others.
By form, the market has been segmented into fresh, frozen, dough & batter, instant mixes, and others.
By specialty type, the market has been segmented into gluten-free, organic, sugar-free, low calorie, fortified and others.
By region, the market has been segmented into North America, Europe, Asia Pacific (APAC) and the Rest of the World (RoW).
Regional Analysis
North America and Europe have a thriving bakery products market; this is primarily due to the current prevalence of consuming baked goods. Many bakery product trends are appropriated worldwide from these regions. There is also a strong presence of prominent market players here that drive growth.
The Asia Pacific is expected to grow considerably during the forecast period and has been identified as the fastest growing geographical segment. A rise in disposable income and the widespread availability of convenient bakery products in this region are facilitating market growth. Additionally, the region enjoys a massive consumer population which is increasingly demanding innovative bakery product options found in developed countries, thus driving growth.
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Latest Industry News
Canada Bread Company, a Grupo Bimbo subsidiary has won a consumer-voted award for Best New Bread in Canada. The product in question - Dempster's 100% whole grain seed lover's bread with Chia was voted for by over 15,000 consumers. Dempster's bread does not contain any sugar, added colors or flavorings and is widely available making the brand a convenient and healthy choice.
Puratos Group has announced intentions to acquire PMG Premium Mühlen Gruppe GmbH & Co's Plange Bakery Ingredient Business. An agreement has been reached and is currently pending approval by German competition authorities. The acquisition will allow Puratos to increase its presence in the German market.
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