DUBLIN, December 16, 2021– (BUSINESS WIRE) – The report “Southeast Asia Bakery Products Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.
The Southeast Asia bakery products market was valued at USD 13,470.18 million in 2020 and is expected to grow at a CAGR of 7.67% during the forecast period (2021 – 2026).
PT Nippon Indosari Corpindo TBK
Chairman Bakery Public Company Limited
Mighty Bakery SDN BHD
Mondelez International Inc.
QAF Limited (Gardenia Bakery KL SDN BHD)
Variety Foods International Company Limited
PT Mayora Indah TBK
Universal Robina Corporation
Britannia Industries Limited
Kawan Food Berhad
Key market trends
Increased demand for artisanal and healthy products
Consumers in Southeast Asia are increasingly adopting western-style diets that contain wheat and are high in protein. Thai consumers in particular are looking for healthier diets. This prompted companies to produce gluten-free bakery products and natural bakery products. In 2021, Mondelez launched its gluten-free Oreo chocolate sandwich cookies. The gluten-free option is available for its Traditional and Double Stuff Oreo variants. Snack products claiming to contain natural and organic ingredients have seen increased demand in Malaysia and Singapore, and this concept has evolved in other markets as well.
The increased consumer demand for nutritious products and the increasing claims of clean labels on the products have accelerated the growth of the market in this region. Product launches with various label claims, such as no artificial additives, no preservatives, no GMOs, and reduced in sugar, are becoming increasingly popular. Consumers perceive their food as an opportunity to experience various tastes and textures.
They are more inclined to products that position themselves as natural and healthy. Many market players are responding to this trend by incorporating “superfood” seeds, such as chia seeds, which are rich in protein and calcium into their offerings. Japanese artisan bread is popular among Southeast Asians. Many key players are taking advantage of this trend. These multi-portion buns are part of the offerings of Yamazaki Baking, which began selling Japanese-style bread in Indonesia in 2018 as part of a joint venture with Mitsubishi Corp. and the operator of the local convenience store chain, Alfamart. The bakery industry has recently seen the creation of a combination of bakeries, restaurants, cafes and catering services. These café-bakeries or pastry shops offer a variety of products with different flavors.
Indonesia accounted for the largest market share
The demand for baked goods in Indonesia keeps increasing as people see them as a meal rather than a snack. This increased consumption is also being increased by changing consumer lifestyles, improving incomes, urbanization and westernization. In 2019, the consumption of bread and cakes per capita reached 9.5 kg / year, increasing by about 60% between 2016 and 2018. Rice is a staple in the country, but some people are bored in eating rice and other local dishes every day. time. So they turned to bakery products, which is another factor in the growth of the market. Consumers nationwide have different preferences for baked goods based on their income.
For example, high-end consumers prefer Western bread and pastries, the upper middle income group prefers Japanese and Asian bread, and the lower middle group prefers local sweetbreads and white bread. According to data published in reports from the Indonesian-German Chamber of Commerce and Industry, more than 640 registered bakery companies are located in the country. In addition, only a few significant market players operate in the Indonesian bakery products market including Pt. Nippon Indosari Corpindo Tbk, Khong Guan Biscuit Factory (S) Pte Ltd and Nissin Food Holdings Co. Ltd. The major companies lack variety in the products on offer, as they all have a similar product portfolio.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market drivers
4.2 Market restrictions
4.3 Porter’s five forces analysis
5 MARKET SEGMENTATION
5.1 By product type
5.2 By distribution channel
6 COMPETITIVE LANDSCAPE
6.1 Market share analysis
6.2 Strategies adopted by the main actors
6.3 Company profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
For more information on this report, visit https://www.researchandmarkets.com/r/q5b1u0
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211216005639/en/
Laura Wood, Senior Press Director
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