Bakery Products Market Research Report—Global Forecast till 2030

Bakery Products Market Research Report: Information by Product Type (Breads, Cakes & Pastries, Cookies & Biscuits, Bagles, Donuts, Pizza & Pizza Crust, Pies & Tarts, and Brownies), Category (Fresh and Frozen), Distribution Channel (Food Retail and Food Service), and Region (North America, Europe, Asia-Pacific, and the Rest of the World) —Forecast till 2030

ID: MRFR/F-B & N/1453-CR | September 2022 | Region: Global | 100 Pages         

Bakery Products Market

Global Bakery Products Market Size of 610.12 million is expected to grow at a CAGR of 5.1% during the Forecast Period 2022-2030.

Segmentation

By Product Type Breads Cakes & Pastries Cookies & Biscuits Bagles Donuts Pizza & Pizza Crust Pies & Tarts Brownies
By Category Fresh Frozen
By Distribution Channel Food Retail Food Service
By Region North America Europe Asia-Pacific Row

Key Players

  • Grupo Bimbo S.A.B. de C.V.(Mexico)
  • Barilla Holding S.p.A. (Italy)
  • Britannia Industries Limited (India)
  • Dunkin' Donuts L.L.C. (U.S.)
  • Mondelez International Inc. (U.S.)
  • Cole's Quality Foods Inc. (MI)
  • Dawn Food Products Inc (MI)
  • General Mills Inc. (U.S.)
  • United Biscuits (U.K.).

Drivers

  • Cross culture eating habits
  • Increasing application area
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Bakery Products Market Overview


The bakery products market is expected to gain a market value of USD 610.12 million by 2030 at a CAGR of 5.1% from 2022-2030.


Bakery products, including bread, rolls, cookies, pies, and muffins, are usually prepared using flour or a meal derived from grains.


Due to increasing demand for convenience foods and rapid urbanization, the bakery products market is continuing to grow. Furthermore, people are becoming more conscious about their health, which increased the demand for healthy food items, and a growing cross-culture of eating habits is boosting the growth of the bakery market. In addition, the global market has various intended audiences. These producers, distributors, retailers, and individual consumers all have different needs. For example, some of these audiences may be frozen bakery products suppliers or manufacturers, raw material suppliers, regulatory bodies, food and beverage suppliers or manufacturers, end-users industries, N.G.O.s, and government agencies. These intended audiences are propelling the global market performance. However, most consumers think frozen foods are processed long back, sometimes more than a year before, and are less nutritious. So, consumers prefer to buy fresh-baked goods over frozen products because they taste better and retain more nutrients. The increasing demand for freshly baked products might substantially restrain the global bakery products market. According to a report by Research and Markets, the bakery industry has achieved the third position in generating revenue among the processed food sector in the global market.


COVID-19 Analysis


The COVID-19 pandemic affected various industries globally. However, the food and beverage industry faced a mild impact due to a low supply chain and workforce. Governments in several countries have imposed strict restrictions on the workforce to maintain staff-level distancing norms to restrict the risk of potential virus spread. Also, governments revised import/export policies to control the virus's spread, which negatively affected production rates and sales rates for companies working in this industry.


Market Dynamics


The global bakery products market has witnessed significant growth over the last few years and is projected to register a 7.50% CAGR during the forecast period. The key drivers fueling the growth of the global market are the rising demand for convenience food, growth of the food service industry, and the rapid growth of the organized retail sector in Asia-Pacific. However, the high price of the frozen bakery products is set to curb the growth of the global bakery products market. Nevertheless, the increasing investments in the cold chain market in developing countries and the growing demand for organic products are expected to create lucrative opportunities for players operating in the global market during the forecast period.


Drivers:


  • Rising Demand for Convenience Food


The changing lifestyles, evolving dietary patterns, and availability of convenience food are factors that play an important role in defining the consumer’s food choices. The growing trend of consuming convenience food began in the western world and rapidly spread to other regions across the globe. Consumers prefer convenience foods as they are easy to consume and have nutritional value, variety, and product appeal. Due to changing lifestyles, consumers are spending less time planning and cooking meals at home, as they consider preparing food at home to be a time and energy-consuming process. The increasing consumption of convenience food is driven by the need to create more leisure time, which means that consumers look for options that would help them maximize their free time, doing the things they value more. This, along with the increasing per capita disposable income, is expected to increase the demand for bakery products. Moreover, consumption of frozen bakery products is increasing across the globe. Frozen consumables are considered convenient as there is no need to put in a lot of effort to make these products edible. Bakery products can be prepared by simply heating the product in a microwave or oven. Thus, the rising demand for convenience food is expected to drive the growth of the global bakery products market during the review period


Restraint:


  • High Product Cost of Frozen Bakery


Frozen bakery products are generally costlier compared to fresh bakery products. The manufacturers of frozen bakery products are pricing their products higher as compared to fresh bakery products owing to the costly production and storage process. Furthermore, these are not the only products available in the global market. Consumers can opt for other types of convenience foods, which are healthier in comparison to frozen bakery products. The oligopolistic market includes individual producers that are involved in price wars and charging prices according to their choice. Thus, the high product cost is expected to reduce the product demand and restrict the growth of the frozen bakery products market hampering the overall growth of market during the forecast period


Opportunities:


  • Development of the cold chain market in emerging economies


Liberalization, globalization, and growth of international trade, coupled with government support towards infrastructure development for the cold chain sector, are factors that have created growth and investment opportunities in multiple markets. The cold chain logistics market in developing countries is dynamic and constantly evolving. Due to the current demand-supply gap in the global market, the fragmented cold chain logistics market offers ample opportunities for new entrants to enter the market. Furthermore, cold storage is also a crucial factor and key component of food trade in various countries. Operations in the cold chain market have substantially improved in recent decades. The market has been offering services for a wide range of products, which require storage at certain temperature levels to maintain integrity throughout the transport chain. The development of the cold chain market in emerging economies has led to the establishment of a proper logistical process to maintain shipment integrity and has enabled the food industry to take advantage of global variations. This is expected to create a growth opportunity for the players operating in bakery products market to enter the frozen market during the forecast period.


Challenges


  • Branding Issues


When it comes to food, consumers’ spending behavior is determined by their loyalty towards certain brands. Generally, consumers prefer brands that are recognizable and popular. The bakery products market is fragmented, and consumers usually prefer branded bakery products over non-branded ones, which creates a challenge for new market players to establish themselves. The increasing instances of government bodies relaxing custom and excise duties on machinery and transport equipment associated with frozen processed food production has led to a reduction in the cost of supply chain operations, which, in turn, is expected to attract national and international brands to enter various product categories. However, the new players need significant capital investments to set up their brand and position their product in a way that draws consumer attention. Thus, branding issues are expected to create a challenge for players operating in the global bakery products market during the forecast period


Segment Overview


By Product Type


Based on product type, the global bakery products market has been segmented into breads, cakes & pastries, cookies & biscuits, bagels, donuts, pizza & pizza crust, pies & tarts, brownies, and others. The breads segment accounted for the largest market share of 29.01% in 2020 and is projected to register the highest CAGR of 4.2% during the forecast period.


By Category


Based on the category, the global bakery products market has been segmented into fresh and frozen. The fresh segment accounted for the larger market share of 64.80% in 2020 and is projected to register a higher CAGR of 3.5% during the forecast period, while the frozen segment is expected to exhibit a CAGR of 3.0% during the review period


By Distribution Channel


Based on distribution channel, the global bakery products market has been segmented into food retail and foodservice. The food retail segment is broken down as supermarkets & hypermarkets, convenience stores, in-store bakery, online, and others. The food retail segment accounted for the larger market share of 68.54% in 2020, with store-based sub-segment dominating the food retail market. Moreover, the food retail segment registered a higher CAGR of 3.6% during the forecast period


Global Bakery Products Market Share, by Region, 2020 (%)
Bakery Products Market Share, by Region, 2020 (%)
Sources: MRFR Analysis


Regional Analysis


By region, the Global Bakery Products Market has been divided into North America, Europe, Asia-Pacific and Rest of the world. Europe has accounted for the largest market share of 35.93% in 2020. North America was the second-largest market in 2020 and is projected to exhibit a CAGR of 3.40% during the review period. The market in Asia-Pacific is expected to register higher CAGR of 4.00% during the forecast period.


North America


North America has accounted for a market share of 28.25% of the global bakery products market in 2020 and is projected to expand at a CAGR of 5.4% during the forecast period of 2022-2030. The market in North America has been experiencing rapid growth over the last few years. The growth can be attributed to the increasing consumer inclination towards ready-to-eat food products. On the other hand, the increasing working population in North America, along with rising consumer inclination towards out-of-home consumption is anticipated to further drive the sales of bakery products. Also, the cold chain industry in the US has been witnessing growth at a high pace which, in turn, accelerates the growth of the frozen bakery products leading to overall growth of bakery products market in North America.


Asia-Pacific


Asia-Pacific is expected to be an attractive regional market for the manufacturers of bakery products during the review period. The region has accounted for a market share of 25.70% in the global bakery products market. The region is projected to expand at the highest CAGR of 4.0% during the forecast period of 2022-2030. The significant factors for the rising growth of bakery products are the increasingly hectic lifestyles of the consumers coupled with the popularity of convenient food products in the emerging economies. Consumers are opting for nutritious bakery products with enhanced shelf life which, in turn, propels the growth of the Asia-Pacific market. Also, the organized retail sector in developing economies of the Asia-Pacific region has witnessed rapid growth over the last few years which is anticipated to act as a major factor for the growth of the bakery products market in the Asia-Pacific region. Online retailing is one of the major trends in emerging economies. Also, the increasing per capita disposable income of the consumers is further expected to fuel the growth of the market in the Asia-Pacific region. China has accounted for a 34.34% share in the Asia-Pacific market in 2020 and is estimated to retain its dominance throughout the forecast period.


Competitive Landscape


The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have a global reach and diverse product portfolios. Companies such as General Mills (US), Grupo Bimbo (Mexico), Lantmännen (Sweden), Barilla Holding (Italy), Britannia Industries Limited (Germany), and Mondelez International (US) among others dominate the global market due to brand reputation, product differentiation, financial stability, and diversified regional presence.


Prominent players in the global Bio-stimulant market include General Mills (US), Grupo Bimbo (Mexico), Lantmännen (Sweden), Barilla Holding (Italy), Britannia Industries Limited (Germany), Mondelez International (US), Associated British Foods Plc (England), Finsbury Food Group Plc (UK), Pladis Global (Denmark) and Dunkin Brands (US)


Recent Developments



  • In December 2021, Kraft Heinz Co. launched Philadelphia Cheesecake Crumble, A single-serve cup with three layers. The product is available in four varieties: strawberry with graham crumble, cherry with graham crumble, original with graham crumble, and chocolate hazelnut with chocolate cookie crumble.

  • In January 2021, Post Holdings and Conagra Brands Inc acquired Peter Pan, a leading peanut butter brand.

  • In July 2020, Pepperidge Farm bakery launched two new products: Farmhouse Honey White Bread and Farmhouse Butter Buns.

  • In March 2020, Europastry Company collaborated with Ferrero Rocher, Nocilla, Nestle, Disney, and Lotus to develop high-quality, added-value products.


Scope of the Report


Global Bakery Products Market , by Product Type



  • Breads

  • Cakes & Pastries

  • Cookies & Biscuits

  • Bagles

  • Donuts

  • Pizza & Pizza Crust

  • Pies & Tarts

  • Brownies


Global Bakery Products Market , by Category



  • Fresh

  • Frozen


Global Bakery Products Market , by Distribution Channel



  • Food Retail

  • Food Service


Global Bakery Products Market , by Region



  • North America

    • US

    • Canada

    • Mexico



  • Europe

    • Germany

    • UK

    • France

    • Spain

    • Italy

    • Rest of Europe



  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia & New Zealand

    • Rest of Asia-Pacific



  • Rest of the world

    • South America

    • Middle East

    • Africa




Intended Audience



  • Bakery Manufacturers

  • Bakery Ingredients Manufacturer

  • Raw Materials Supplier

  • Food Retailers

  • Food Service centres

  • Hotels & Restaurants



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 610.12 million
  CAGR    5.1%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Product Type, Category, Distribution Channel, and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Grupo Bimbo, S.A.B. de C.V.(Mexico),,Barilla Holding S.p.A. (Italy),,Britannia Industries Limited (India),,Dunkin' Donuts L.L.C. (U.S.),,Mondelez International, Inc. (U.S.),,Cole's Quality Foods Inc. (MI),,Dawn Food Products Inc (MI),,General Mills, Inc. (U.S.),,United Biscuits (U.K.).
  Key Market Opportunities   adoption of microencapsulation technology is increasing the shelf life of the baked food products
  Key Market Drivers   convenience food products demands


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Frequently Asked Questions (FAQ) :

Based on product type, the breads segment, based on claim, the organic segment, and based on form, the fresh segment, holds majority shares in the Global Bakery Products Market.

Rising popularity, changing consumption pattern, demand for convenience food, and advancement in processing technology, are major tailwinds pushing the growth of the Global Bakery Products Market.

Barilla Holding S.p.A. (Italy), Dunkin' Donuts LLC (U.S.), Britannia Industries Limited (India), General Mills, Inc. (U.S.), Grupo Bimbo, S.A.B. de C.V. (Mexico), Mondelez International, Inc. (U.S.), are some of the top players operating in the Global Bakery Products Market.

Europe holds the largest share in the Global Bakery Products Market, followed by North America and the Asia Pacific, respectively.

Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the Global Bakery Products Market adopt to gain a larger competitive advantage.