Bakery Products Market

Report Overview:

The global bakery products market size reached US$ 497.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 625.9 Billion by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.

Baking, referred to as the oldest form of cooking, is used for producing everyday products like bread, cakes, pastries, pies, cookies, and donuts. These products are prepared using various ingredients like grain-based flour, water and leavening agents. They are considered fast-moving consumer goods (FMCG) and are consumed daily. Owing to their palatability, appearance and easily digestible nature, they are highly preferred for both formal and informal occasions. Nowadays, most traditional baking methods have been replaced by modern machines. This shift has enabled manufacturers to introduce innovative bakery products with different ingredients, flavors, shapes and sizes.

The improving standards of living of people around the world have led to significant changes in their lifestyles and eating habits. As a result, they now prefer low calorie, ready-to-eat food items, such as bakery products. This has further prompted the leading manufacturers to introduce bakery products containing multi-grains or whole wheat with low trans-fat content. This has escalated the demand for bakery items, especially among health-conscious consumers. Besides this, with the growing preference for bakery items and increasing internet penetration, several players in the bakery industry have launched their products on digital retail channels, making it more convenient for consumers to order online. Moreover, market players are spending substantially on research and development (R&D) activities to launch organoleptically improved products in the market. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global bakery products market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type and distribution channel.

Breakup by Product Type:

• Biscuits
  • Cookies
  • Cream Biscuits
  • Glucose Biscuits
  • Marie Biscuits
  • Non-Salt Cracker Biscuits
  • Salt Cracker Biscuits
  • Milk Biscuits
  • Others
• Bread and Rolls
  • Artisanal Bakeries
  • In-Store Bakeries
  • Packaged
• Cakes and Pastries
  • Artisanal Bakeries
  • In-Store Bakeries
  • Packaged
• Rusks
  • Artisanal Bakeries
  • In-Store Bakeries
  • Packaged
     

Based on the product type, bread and rolls are the most popular type of bakery products.

Breakup by Distribution Channel:

• Convenience Stores
• Supermarkets and Hypermarkets
• Independent Retailers
• Artisanal Bakeries
• Online Stores
• Others
   

Amongst these, bakery products are majorly distributed through supermarkets and hypermarkets as these stores allow easier access to a wide variety of bakery items to consumers.

Regional Insights:

• Asia-Pacific
• Europe
• North America
• Middle East and Africa
• Latin America
   

On the geographical front, Europe enjoys the leading position in the market due to the presence of a large number of local and independent bakeries, along with the shifting preference of consumers towards ready-to-eat bakery products.

Competitive Landscape:

The competitive landscape of the market has also been covered, with the detailed profiles of manufacturers. Some of the top bakery products manufacturers are:

• Grupo Bimbo S.A.B de C.V.
• Yamazaki Baking Co., Ltd.
• JAB Holding Company
• ARYZTA AG
• Flowers Foods, Inc.
• Rich Products Corporation
• Dr. August Oetker Nahrungsmittel KG
• Gruma, S.A.B. de C.V.
• General Mills, Inc.
• Associated British Foods (ABF) Plc
   

Report Coverage: