Bakery Products Market Size and Growth Analysis by 2028
The global bakery products market size was valued at USD 241.7 billion in 2021 and is poised to grow at a significant CAGR of 3.0% during the forecast period 2022-28. Increased the demand for whole wheat, light (low calorie), natural, and additive-free bakery products anticipated the growth of bakery products market. Moreover, the trend towards healthier bakery items has grown so strong due to rise in health awareness among the population and rise in prevalence of metabolic disorders also immense boost to the market over the forecast years.
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The global bakery product market segmentation: 1) By product type: Cake, Breads, Pastries, Doughnuts, Biscuits, Others 2) By form: Fresh, Frozen, Others. 3) By distribution Channel: Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, Others
Bread Segment Dominates the Bakery Products Market: Bread accounted x% market share and it is expected to grow with a CAGR of x% from 2022-2028. Bread segments accounted for a significant percentage in market terms of both value and volume. The dominance of the bread category is attributable to the high consumption of bread among consumers of all ages. High nutrition content, value, price, and convenience are the main reasons that boost bread consumption in western diets. Furthermore, bread is available in a variety of categories, including gluten-free whole grain and high-fiber options. This new bread's availability is likely to enhance the market growth.
Europe leads Bakery Products Market: Europe holds the majority of market share in the Bakery Products market during the forecast period and it is expected to continue the growth in the coming years. Increasing in demand of the consumer for bakery products such as gluten-free, high-fiber, and Trans-fat products, which staple foods. Launch of new bakery products are seen often in product range like cakes, pastries, and cookies. Asia Pacific is expected to be the fastest-growing regional market throughout the projection years. Due to expanding population and per-capita income levels, developing markets are expected growth prospects. Furthermore, rising demand for breakfast grains and cereals in China and India will propel the industry forward
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The bakery products market key players are Finsbury Food Group Plc, Grupo Bimbo, Associated British Foods Plc, Mondelez International, Bakers Delight Holdings Limited, Dunkin' Brands, Britannia Industries Ltd, Flowers Foods, General Mills Inc, Pladis Ltd. About Precision Business Insights: We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.
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