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Indian Bakery Market to Reach US$ 19.3 Billion by 2027, Impelled by the Increasing Demand for Convenience Foods

Published on Apr 20, 2022

According to the latest report by IMARC Group, titled “Indian Bakery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the Indian bakery market reached a value of US$ 10.2 Billion in 2021. A bakery refers to an establishment that prepares and sells baked products. These products include pastries, cupcakes, cakes, biscuits, tarts, sweet rolls, doughnuts, flat-bread, buns, coffee cakes, pies, cookies, and croissants. Some of the baked products, such as bread, buns, and oat cookies, offers various essential nutrients and are rich in calcium, fiber, iron, energy, fat, protein, vitamins, and minerals that are vital for health. Bakery products are commonly prepared using various grains and ingredients, such as wheat, oats, water, eggs, nuts, maize, baking powder and other additives. As a result, bakery products offer versatility, better alternatives, healthier breakfast options, fresher taste and texture, and enhanced convenience and affordability.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Indian Bakery Market Trends:

The increasing demand for fast-moving consumer goods (FMCG), such as biscuits and cookies, across the country, is one of the key factors driving the growth of the market. Biscuits and cookies are widely consumed daily due to their innovative designs, flavors, nutritional value, and affordable prices. Additionally, the rising consumption of cakes in celebrations and special occasions, such as birthdays, is favoring the market growth. Apart from this, various product innovations, such as the introduction of low trans-fat, healthy, multi-grains and whole wheat bakery products due to the rising health consciousness among consumers, are providing an impetus to the market growth. Moreover, the widespread adoption of burgers, sandwiches, soups, breads, croissants, cookies and snacks due to the significant growth in fast-food chains is positively impacting the market growth. Other factors, including the rising demand for ready-to-eat (RTE) products due to hectic lifestyles and busy schedules, evolving lifestyles and eating habits, and the increasing western influence on the food culture, are antiquated to drive the market toward growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 19.3 Billion by 2027, growing at a CAGR of 10.94% during the forecast period (2022-2027).  

Market Summary:

  • On the basis of the product type, the market has been divided into biscuit (cookies, cream biscuits, glucose biscuits, marie biscuits, non-salt crackers biscuits, salt crackers biscuits, milk biscuits and others), bread (sandwich breads, hamburgers, croissants and others), cakes and pastries (packed cupcakes, pastries, muffins, layer cakes, donuts, swiss roll and others) and rusk. Currently, biscuits dominate the Indian bakery market, holding the largest share.
  • Based on the distribution channel, the market has been classified into convenience stores, supermarkets and hypermarkets, independent retailers, artisanal bakeries, online and others. Amongst these, convenience stores represent the largest segment.
  • Based on region, the market has been categorized into North India, West and Central India, South India, and East India.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Britannia Industries Limited, ITC Limited, Parle Products Private Limited and Surya Food and Agro Limited.

 

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