New York, U.S., July 28, 2022 (GLOBE NEWSWIRE) — Market overview
According to a comprehensive research report by Market Research Future (MRFR), “bakery products market Information by Type, Claim, Form and Region – Forecast to 2027”, the market is expected to acquire a size of over USD 610.12 billion by the end of 2027. The report further forecasts that the market will flourish at a healthy CAGR of over 5.1% during the period of ‘exam.
Baked goods are high in fat, sugar, and added nuts and fruit. These ingredients and the contents of these products, when consumed, promote energy levels and improve nutritional value. Most bakery product developers are gradually adopting advanced food processing technologies to improve the quality of their products. These advanced technologies help improve the nutritional value, appearance and taste of baked goods.
Increasing cross-cultural consumption habits among consumers will be one of the interesting factors driving the expanding rate of the bakery products industry.
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|Market size 2030||$610.12 billion|
|Forecast units||Value (USD billion)|
|Report cover||Revenue forecasts, competitive landscape, growth factors and trends|
|Segments Covered||by type, claim, form and region|
|Geographical areas covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Market Drivers||requests for ready-made food products|
|increased growth of frozen food industry|
Market Competitive Landscape:
Prominent companies active in the global bakery products market are
- United Biscuits (UK).
- Grupo Bimbo, SAB de CV (Mexico),
- Dunkin’ Donuts LLC (USA),
- Barilla Holding SpA (Italy),
- Mondelez International, Inc. (USA),
- Dawn Food Products Inc (MI),
- General Mills, Inc. (USA),
- Britannia Industries Limited (India),
- Cole’s Quality Foods Inc. (MI),
Most of these brands take strategic initiatives such as collaborations, mergers and acquisitions, business expansion, and product/technology innovation to gain competitive advantage.
Covered USP market:
The growing preference for processed foods coupled with the growing inclination towards a variety of baked goods due to their savory taste will be favorable for the market. The growing popularity of various baked goods is a result of their low cost, easy availability, convenience and speed of preparation. The rapid growth of the market also caters to the increased demand for memes in small and large scale food chains as well as cafes around the world.
Baked goods such as rolls, bagels, and bread are widely available and enjoying massive demand among consumers. Meanwhile, pastries and croissants are accelerating rapidly, alongside ever-changing consumer tastes and preferences.
A variety of baked goods are witnessing substantial growth in their demand, owing to the busy schedules of consumers and their increasing awareness of the presence of nutrition in different food products. This is quite common in Asia, where the baked goods industry has exploded at a spectacular rate, given the expansion of the corporate sector and the increasing number of time-pressed people opting for ready-to-eat snacks. to eat.
Browse the in-depth (110 pages) bakery products market research report: https://www.marketresearchfuture.com/reports/bakery-products-market-1985
The majority of consumers perceive baked goods as edibles that are not fresh, that have been processed for a long time. For this reason, they are not fed enough. As a result, consumers opt for fresh foods. The growing demand for fresh food products considered unprocessed will be a huge obstacle for the global industry.
COVID 19 analysis
The negative impact of the COVID-19 outbreak has led to a series of serious repercussions on the health status of people across the world. The consequences are linked to the significant social and economic burden on people around the world. As key policy makers implement new frameworks and industries adopt advanced expansion models to maintain relevance, people are facing a series of mental traumas.
However, with the renowned brands and manufacturers in the bakery products market adopting innovative strategies such as launching a variety of creative bakery products, there will be substantial revenue generation in the future. The continuous efforts of the players to improve their sales despite the challenges thrown by the pandemic will increase the size of the bakery products market in the coming years.
By product type
The product types widely studied in the bakery products industry research study cover donuts, cakes, pastries, cookies, bread, and others. Bread will end up becoming the largest segment in the coming years as this product is a staple food in several parts of the world.
When it comes to claims, the main segments are low-calorie, sugar-free, organic, gluten-free, and more. The gluten-free claim will be the leading segment between 2020 and 2027, as the prevalence of gluten sensitivity has increased among consumers. But the organic claims segment is expected to grow rapidly over the review period, as many see it as a healthier option than other items.
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Asia-Pacific/APAC, Europe, North America and RoW/rest of the world are the main markets for specialty frozen bakery products globally.
Europe grabs the largest share of the global market with Germany taking the top spot in the region. The ever-growing tourism sector, as well as the food supply industry in Italy, the UK and Germany, will present interesting opportunities. Europe is awash with reputable companies that have well-established supply chains, distribution channels and extensive product ranges that strive to meet ever-changing consumer preferences and tastes. Product innovation is a key focus area for many companies and the regional market is often marked by the introduction of a variety of cookies, cakes and pastries.
Asia-Pacific can expect to be the fastest growing market over the next few years, with demand expected to increase significantly in India and China. The market for bakery products in these countries is promising, given the rising disposable income as well as the purchasing power of a booming population. Considering the growing prevalence of hectic consumer lifestyles, convenient food products have gained popularity in the region, which is expected to boost the demand for baked goods. Puff pastries, muffins and several savory products also aroused the interest of the younger population. Market demand in the region is further boosted by the booming hotel industry and booming tourism.
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