Bakery Product Market - Forecast(2021 - 2026)

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Bakery Product Market

Bakery Product Market size was estimated at $242 billion in 2020, projected to grow at a CAGR of 3.7% during the forecast period 2021-2026s. The bakery Product industry has witnessed huge demand as buyers are more willing to adopt western cuisines, including baking, driving the expansion of the bakery products market. Baking is the oldest kind of cookery and is used to make daily items such as breads like baguettes, cakes, pastries, pies, cookies, and donuts. Various components, such as grain-based flour, water, and leavening agents, are used to make these goods. Bakery goods such as baguettes and others has become an essential element of the human diet since they include a lot of carbohydrates, as well as proteins, dietary fibers, B vitamins, and minerals. Acrylamide is a toxin found mostly in roasted, baked, and deep-fried meals. They are fast-moving consumer goods (FMCG) that are consumed on a daily basis. They are highly liked for both formal and informal occasions owing to their palatability, appearance, and ease of digestion. Acrylamide is a process-derived compound produced when reducing sugars, primarily glucose and fructose, react with the amino acid asparagine in the presence of moisture and heat at temperatures over 120°C (248oF). The Maillard process produces acrylamide as a by-product. Heat-treated foods, such as bakery goods like baguettes, roast potatoes, potato chips, and roasted coffee beans, contain low amounts of acrylamide. It's a pollutant generated from the food processing industry that the scientific community has identified as having possible carcinogenic and mutagenic effects on people and animals. However, Consumers in emerging economies have improved standards of living and are changing their lives as a result of cultural changes and increasing emerging markets, which is driving the global bakery goods market. Furthermore, new product releases are also helping the sector to meet customer needs. The market's growth is aided by growing processed-food consumption and a trend toward more convenient food and beverage items. Frequent consumption of highly processed with High-sugar, high-fat leads to malnutrition. For example, potato chips, bakery goods, cold beverages, soda, and so on. Malnutrition in children is a serious worldwide health issue that results in increased morbidity and death, as well as impaired intellectual development and productive ability, as well as an increased risk of adult illness. According to Food and Agriculture Organization of United Nations, Malnutrition is the leading cause of sickness throughout the world.

Bakery Product Market Report Coverage

The report: “Bakery Product Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Bakery Product Market.
By Product Type:  Breads, Cakes & Pastries, Biscuits, and Others
By Form:   Fresh, Frozen
By Distribution Channel: Hypermarkets/Supermarkets, Speciality Store, Convenience Stores, Online Stores and Others
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia & New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina and Rest of South America), and Rest of the World (Middle East and Africa)

Key Takeaways

  • People increasingly prefer low-calorie, ready-to-eat food items, such as bakery products, owing to the rising living standards and substantial changes in their lives and eating habits. This has spurred major manufacturers to create bakery goods with minimal trans-fat levels that use multi-grains or whole wheat. 
  • However, the bakery products market was significantly impacted by COVID-19. During the peak of the epidemic, several bakeries were forced to close their business owing to a lack of bakery product sales, and logistical delays caused by the lockdown that disrupted the supply chain, affecting the market.
  • According to Food and Agriculture Organization of United Nations, every year, over 5 million children under the age of five die in underdeveloped nations as a result of malnutrition.
Bakery Product Market: Market Share (%) by Region, 2020

 
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Bakery Product Market Segment Analysis – By Product Type:

Based on Product Type, Bakery Product market is segmented into Breads and rolls, cakes and pastries, pretzels, tortillas, cookies, and others. Owing to the significant growth in demand in regions such as North America and Asia Pacific, the Breads & Rolls category has accounted for the highest revenue market share in 2020. Breads contain complex carbohydrates. Carbohydrates are essential in diet as they provide energy. As bread is a good source of carbohydrates, it provides the body with energy and aid in the regulation of glucose levels in the blood. Certain varieties of bread, such as granary bread, have a high fibre level, which helps the digestive system function properly. Owing to the introduction of innovative tastes and growing consumer disposable income levels, the cakes and pastries Segment is predicted to grow with the fastest CAGR of 4.2% in the forecast period 2021-2026. Long-term possibilities for industry participants will emerge as Asia Pacific's population grows. Owing to the introduction of new flavors, forms, and textures in the product, the cookies product sector is expected to develop at a healthy rate in the future.

Bakery Product Market Segment Analysis – By Form:

Based on Product Type, Bakery Product market is segmented into Fresh and Frozen. Fresh segment is accounted for the largest revenue market share owing to the high nutritional value associated with the consumer preference for fresh food. Fresh baked goods are items made in bakeries and include bread, baguettes, cookies, muffins, pastries, and other items. Frozen segment anticipated to grow with the fastest CAGR of 4.4% in the forecast period 2021-2026 owing to the increased demand for pre-baked items that require less time to bake and provide the option of creating fresh bakery products. Moreover, the advancement of freezing technology provided the most well-known preservation options for the bread sector by extending product shelf life. The use of low-temperature freezing technology has increased the economic value of bakery products while also creating a new market for frozen bakery items.

Bakery Product Market Segment Analysis – By Geography

Based on Geography, Europe Bakery Product Market accounted for the 33% revenue share in 2020. As when it comes to bread items, Western Europe's established markets are mature and saturated. Furthermore, owing to the strong need for handy food goods, the growing markets of Eastern Europe are pushing sales of biscuits and bread like baguettes in particular. In terms of supply chain, product assortment, distribution methods, and customer preferences, the European market is well-established. Innovations and new product creation are becoming more common in indulgence categories such as cakes, pastries, and cookies. Gluten-free, whole grain, ancient grain, and additive-free items are becoming increasingly popular among Europe's traditional breakfast foods. Furthermore, according to the Agriculture and Horticulture Development Board in the United Kingdom, the free-from food industry is anticipated to increase by 10% each year for the next three years, with bakery items and cookies accounting for around 35% of the free-from food category. This, in turn, indicates a potential market opportunity for gluten-free bread items. Asia-Pacific market is poised to grow with the fastest CAGR in the forecast period 2021-2026. Owing to the presence of significant firms in rising nations such as China, India, Singapore, and Japan. Further, owing to the growing population and per-capita income levels, developing markets are expected to present growth possibilities. Furthermore, rising demand for breakfast grains and cereals in China and India would propel the industry even higher.

Bakery Product Market Segment Analysis-Drivers

Growing Consumption of Bakery Products:

Confectionery and bakery goods are in great demand as a result of rising convenience food demand and customer need for attractive, tasty, and tactile delights. The ease of availability, reduced cost, and nutrition connected with them are the primary reasons influencing their sustainability in today's market. As a result, bakery items have become a vital part of many people's life. This has increased demand for diverse bakery products, which are utilized to create bread items that are rich in flavor and texture. Various baked foods are high in fats, carbohydrates, and nuts and fruits, which boosts the nutritional value and energy content. Furthermore, advancements in food processing technology have enabled manufacturers to create a variety of new products with improved flavor, look, and nutritive value, which is expected to drive the bakery goods market during the projected period. Now-a-days multi-grain, high-fiber, and diabetic-friendly bakery items with less carbohydrates have become the newest craze among the young generation, who are obsessed with health and fitness. The growing knowledge of sugar-free goods that satisfy sweet desires without actually consuming sugar is translating into a strong demand for diabetic bakery products.

Bakery Product Market Segment Analysis-Challenges

Health Effects of frequent Consumption of Bakery Goods:

The Scientific Committee on Toxicity, Ecotoxicity, and the Environment established the hazards of acrylamide to health and its hazardous properties in 2001. Potato and bread goods account for around 50% and 20% of human acrylamide exposure, respectively. Acrylamide precursors such as free amino acids, reducing sugars, and processing conditions all influence acrylamide production and breakdown in meals (i.e. moisture content, baking time and temperature, and matrix of product). Consumers are exposed to acrylamide when they eat high-carbohydrate foods like potato crisps and chips, toasted cereals, and breads and other bakery items. Indirect exposure occur as a result of residual monomer residues in food packaging where polyacrylamide is employed as a bindingagen. These factors are predicted to hamper the market growth. 

Bakery Product Market Segment Landscape:

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Bakery Product Market. Bakery Product Market top 10 companies are Nestle S.A.; Associated British Foods; Bimbo Bakeries USA; Kraft Food Group, Inc.; Britannia Industries Ltd.; General Mills; Mondelez International; Campbell Soup Company; Bakers Delight Holdings Limited.

Acquisitions/Product Launches:

  • In March 2020, General Mills Company announced the introduction of the Pillsbury Online community which is a new resource for foodservice operators to make baking easier.
  • In October 2020 Bimbo Bakeries established a cooperation with Disney and Oroweat to boost the manufacturing of organic bread products.
  • In February 2020. Kraft Heinz established a cooperation with Indo Nissan Foods This collaboration aided Kraft Food's expansion in India.

Related Reports:

Report Code: FBR 0358

For more Food and Beverage Market reports, please click here
1. Bakery Product Market- Overview
    1.1 Definitions and Scope
2. Bakery Product Market- Executive Summary
    2.1 Market Revenue, Size and Key Trends by Company
    2.2 Key trends by Product Type
    2.3 Key trends by Form
    2.4 Key trends by Distribution Channel
    2.5 Key trends by Geography
3. Bakery Product Market– Comparative Analysis
    3.1 Product Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Market Value Split by Key Companies 
    3.4 Patent Analysis – Key Companies
    3.5 Pricing Analysis (Average Price)
4. Bakery Product Market- Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Bakery Product Market– Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Bakery Product Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Bakery Product Market– Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Bakery Product Market– By Product Type (Market Size –$Million/$Billion)
    8.1 Breads & Rolls
    8.2 Cakes & Pastries
    8.3 Pretzels
    8.4 Tortillas
    8.5 Cookies
    8.6 Others
9. Bakery Product Market– By Form (Market Size –$Million/$Billion)
    9.1 Fresh
    9.2 Frozen
10. Bakery Product Market– By Distribution Channel (Market Size –$Million/$Billion)
    10.1 Hypermarkets/Supermarkets
    10.2 Specialty Store
    10.3 Convenience Stores
    10.4 Online Stores
    10.5 Others
11. Bakery Product Market– By Specialty Type (Market Size –$Million/$Billion)
    11.1 Gluten-Free
    11.2 Organic
    11.3 Sugar-Free
    11.4 Low-Calories
    11.5 Fortified
    11.6 Others
12. Bakery Product Market- By Geography (Market Size –$Million/$Billion)
    12.1 North America
        12.1.1 U.S.
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 U.K.
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Russia
        12.2.7 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 India
        12.3.3 Japan
        12.3.4 South Korea
        12.3.5 Australia & New Zealand
        12.3.6 Rest of Asia-Pacific
    12.4 Rest of the World
        12.4.1 Middle East
        12.4.2 Africa
        12.4.3 South America
13. Bakery Product Market- Entropy
14. Bakery Product Market– Industry/Segment Competition Landscape Premium 
    14.1 Market Share Analysis
        14.1.1 Global Market Share – Key Companies
        14.1.2 Market Share by Region – Key companies
        14.1.3 Market Share by Countries – Key Companies
        14.1.4 Competition Matrix
        14.1.5 Best Practices for Companies
15. Bakery Product Market– Key Company List by Country Premium Premium
16.Bakery Product Market Company Analysis
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10
"*Financials for private companies would be provided on a best efforts basis

LIST OF TABLES

1.Global Competitive Analysis Market 2019-2024 ($M)
1.1 List Of Key Distributors Channel Partners Market 2019-2024 ($M) - Global Industry Research
1.2 Key Customers Market 2019-2024 ($M) - Global Industry Research
2.Global Competitive Analysis Market 2019-2024 (Volume/Units)
2.1 List Of Key Distributors Channel Partners Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Key Customers Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Competitive Analysis Market 2019-2024 ($M)
3.1 List Of Key Distributors Channel Partners Market 2019-2024 ($M) - Regional Industry Research
3.2 Key Customers Market 2019-2024 ($M) - Regional Industry Research
4.South America Competitive Analysis Market 2019-2024 ($M)
4.1 List Of Key Distributors Channel Partners Market 2019-2024 ($M) - Regional Industry Research
4.2 Key Customers Market 2019-2024 ($M) - Regional Industry Research
5.Europe Competitive Analysis Market 2019-2024 ($M)
5.1 List Of Key Distributors Channel Partners Market 2019-2024 ($M) - Regional Industry Research
5.2 Key Customers Market 2019-2024 ($M) - Regional Industry Research
6.APAC Competitive Analysis Market 2019-2024 ($M)
6.1 List Of Key Distributors Channel Partners Market 2019-2024 ($M) - Regional Industry Research
6.2 Key Customers Market 2019-2024 ($M) - Regional Industry Research
7.MENA Competitive Analysis Market 2019-2024 ($M)
7.1 List Of Key Distributors Channel Partners Market 2019-2024 ($M) - Regional Industry Research
7.2 Key Customers Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Bakery Product Market Revenue, 2019-2024 ($M)
2.Canada Bakery Product Market Revenue, 2019-2024 ($M)
3.Mexico Bakery Product Market Revenue, 2019-2024 ($M)
4.Brazil Bakery Product Market Revenue, 2019-2024 ($M)
5.Argentina Bakery Product Market Revenue, 2019-2024 ($M)
6.Peru Bakery Product Market Revenue, 2019-2024 ($M)
7.Colombia Bakery Product Market Revenue, 2019-2024 ($M)
8.Chile Bakery Product Market Revenue, 2019-2024 ($M)
9.Rest of South America Bakery Product Market Revenue, 2019-2024 ($M)
10.UK Bakery Product Market Revenue, 2019-2024 ($M)
11.Germany Bakery Product Market Revenue, 2019-2024 ($M)
12.France Bakery Product Market Revenue, 2019-2024 ($M)
13.Italy Bakery Product Market Revenue, 2019-2024 ($M)
14.Spain Bakery Product Market Revenue, 2019-2024 ($M)
15.Rest of Europe Bakery Product Market Revenue, 2019-2024 ($M)
16.China Bakery Product Market Revenue, 2019-2024 ($M)
17.India Bakery Product Market Revenue, 2019-2024 ($M)
18.Japan Bakery Product Market Revenue, 2019-2024 ($M)
19.South Korea Bakery Product Market Revenue, 2019-2024 ($M)
20.South Africa Bakery Product Market Revenue, 2019-2024 ($M)
21.North America Bakery Product By Application
22.South America Bakery Product By Application
23.Europe Bakery Product By Application
24.APAC Bakery Product By Application
25.MENA Bakery Product By Application
26.Bimbo Bakeries Usa, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Britannia Industries Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Nestl S.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.General Mills, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Campbell Soup Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Associated British Foods Plc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Kraft Foods Group, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Itc Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Alpha Baking Co., Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Finsbury Food Group Plc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Lantmannen Unibake Usa, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Bahlsen Gmbh Co. Kg, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.Sara Lee Foods, Llc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
39.George Weston Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
40.Bakers Delight Holdings, Sales /Revenue, 2015-2018 ($Mn/$Bn)