Looking ahead, IMARC Group expects the market to reach US$612.4 billion by 2027 growing at a CAGR of 4.0% during the period 2022-2027.
According to the latest report of the IMARC group, entitled “Bakery Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global bakery products market the size reached US$478.4 billion in 2021. Baked goods include a variety of baked goods prepared in an oven. Some of the most common grain-based baked goods include cakes, breads, pies, donuts, cookies, and pastries. They are usually characterized by a sweet or salty taste and a fluffy texture. They are made from many ingredients, such as grain-based flour, water, salt, sugar, flavorings and leavening agents. They are easy to consume and convenient to store for a long time. As a result, they are widely gaining prominence among consumers around the world.
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We regularly monitor the direct effect of COVID-19[feminine] in the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
Global Bakery Products Market Trends:
The market is mainly driven by the increase in ready-to-eat food sales across the world. With the inflation in the disposable income levels of the masses and their changing food preferences, there has been a significant increase in the demand for processed and packaged baked foods, which is providing impetus for the growth of the market . Additionally, there has been a growing preference for the adoption of clean label and organic bakery products among consumers. Coupled with the easy availability of vegan and fortified baked goods across many organized online and offline retail channels, this creates a positive outlook for the market. This is further supported by the growing health awareness among the masses who incorporate low trans fat foods into their regular diet. Apart from this, increasing deployment of robotic technology with bakery processing equipment and significant growth in food and beverage sector across the globe are also contributing to the growth of the market. Looking ahead, IMARC Group expects the market to reach US$612.4 billion by 2027 growing at a CAGR of 4.0% during the period 2022-2027.
- By product type, cookies are the most popular type of baked goods. They are further categorized into biscuits, cream biscuits, glucose biscuits, marie biscuits, salt-free cracker biscuits, savory cracker biscuits, milk biscuits and others. Other main product types include bread and rolls, cakes and pastries, and rusks.
- Based on the distribution channel, the market has been categorized into convenience stores, supermarkets and hypermarkets, independent retailers, artisan bakeries, online stores, and others. Of these, supermarkets and hypermarkets account for the majority of the total global market.
- Geographically, Europe is the market leader. Some of the other key regions include Asia-Pacific, North America, Middle East and Africa, and Latin America.
- The competitive landscape of the market has been examined in the report with detailed profiles of key players. Some of these players include Grupo Bimbo SAB de CV, Yamazaki Baking Co., Ltd., JAB Holding Company, ARYZTA AG, Flowers Foods, Inc., Rich Products Corporation, Dr. August Oetker Nahrungsmittel KG, Gruma, SAB de CV, General Mills, Inc. and Associated British Foods (ABF) Plc.
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Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Industry trends
- Market drivers and success factors
- The impact of COVID-19 on the global market
- Value chain analysis
- Structure of the global market
- Complete mapping of the competitive landscape
If you need specific information that is not currently covered in the report, we will provide it to you as part of the customization.
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