Rising disposable income, improving lifestyles, and eating habits of people are expected to drive the global bakery market during the forecast period.
Moreover, factors such as metropolitan life, speedy and on-the-spot consumption, as well as demand for fresh food has further fueled the growth of the bakery market. Consumer demand for healthier and more nutritious breads, rolls, and cookies, as well as those that give increasingly unique and enjoyable eating experiences such as flatbreads, specialized buns, and rolls, are driving the market. Manufacturers of bakery products are adopting innovative and distributive strategies to increase the market share of their companies. Such initiatives help them to increase the revenue and consumer base to be ahead of the other players in the market.
Browse 91 Figures spread through 110 Pages and an in-depth TOC on "Global Bakery Market"
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The COVID-19 pandemic had a negative impact on the global bakery market. The market was impacted, due to the transportation restrictions and temporary worker shortage. However, the online channels benefited as people were preferring short-term stocking, and e-commerce spiked as people shifted more towards online delivery platforms, as it was the only safe and available option for the consumers.
The global bakery market is segmented into type, distribution channel, region, and company. Based on type, the global bakery market can be split into bread & rolls, cookies, cakes & pastries, doughnuts & muffins, pies & tarts, and others. Among these, the bread & rolls segment has accounted for the largest market share in 2020. This is due to the popularity of bread prepared with oats, whole wheat, and fatty nuts. Bread that has been wrapped and sliced is also preferred by consumers. Bread can be served in a variety of ways at any meal of the day, as a snack, or as a component in other dishes., which further makes it more popular among consumers.
In terms of regional analysis, the global bakery market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Out of which, Europe has accounted for the majority of market share in the global bakery market in 2020 and the region is anticipated to maintain its dominance over the next five years as well. The reason being, growing health awareness among the young and millennial population, the convenience of purchasing ready-to-eat bakery products and expanding fast-food chains. With much of Europe embracing a gluten-free diet, the egg-free bakery is becoming a big primary phenomenon. Germany is one of the key markets for the bakery in the European region.
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The companies like Grupo Bimbo, Mondelēz International, Inc., Yamazaki Baking Co. Ltd., Flowers Foods, Inc., Kellogg Company, Campbell Soup Company, Associated British Foods Plc, Britannia Industries Limited, Finsbury Food Group Plc, and Nestlé are some of the leading players operating in the global bakery market. Major bakery companies are expanding their manufacturing bases to meet the rising demand across developing countries. In 2020, Britannia Industries decided to invest over USD100 million to set up five new manufacturing units in India.
With the presence of different worldwide brands and a small market share of indigenous enterprises in both developed and developing countries, the global bakery market is competitive. Due to the continually changing nature, taste, and preferences of consumers, the launch of a new product has become the most crucial strategy above all others. In addition, firms have embraced development through transnational mergers and acquisitions, which have shown to be effective in strengthening their footprint. Recently, Grupo Bimbo acquired the Modern Foods brand.
“Consumers' desire to consume healthy bakery products with special characteristics such as lower fat, cholesterol, sodium chloride, and nitrite content, enhanced fatty acid profile composition, and added health-enhancing ingredients is a rapidly growing trend across the world. These demands have the potential to open a lot of doors for the bakery industry. Moreover, the continuous new product launches by regional and international players are one of the major factors for the future growth of the market. Factors like technological up-gradation and growing demand for ready-to-eat bakery products are further anticipated to positively influence the growth of the market through 2026,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Bakery Market By Type (Bread & Rolls, Cookies, Cakes & Pastries, Doughnuts & Muffins, Pies & Tarts and Others (Bagel, Cupcake, Croissant, Macaron, etc.)), By Distribution Channel (Artisanal Bakeries/Specialty Stores, Supermarkets/Hypermarkets, Departmental Stores, Online, and Others (Convenience Stores, Forecourt Retailers, etc.)), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of the global bakery market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global bakery market.
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