The global bakery products market size was worth US$ 456 Billion in 2018. 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 Nowadays, most traditional baking methods have been replaced by modern machines.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. Looking forward, IMARC Group expects the market value to reach US$ 591 Billion by 2024, at a CAGR of 4.3% during forecast period (2019-2024).
Breakup by Product Type:
Based on the product type, biscuits are the most popular type of bakery products. They are further categorized as cookies, cream biscuits, glucose biscuits, Marie biscuits, non-salt cracker biscuits, salt cracker biscuits, milk biscuits and others.
Breakup by Distribution Channel:
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.
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.
The competitive landscape of the market has also been covered, with the detailed profiles of manufacturers. Some of the leading players are:
Key Questions Answered in This Report:
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