Global Bakery Products Market – Overview
Easy availability and convenience has increased the demand for bakery products on a global level. Market Research Future, a firm which specializes in market reports related to the Foods, Beverages & Nutrition sector among others, recently forecasted in its report “Global Bakery Products Market Research Report- Forecast to 2023” that the market will demonstrate an exceptional CAGR % while achieving million dollar growth readily in the forecast period.
Bakery products generate higher revenue amongst the various other types of foods. The changing consumption pattern has increased the demand for bakery products in recent years. Bakery foods offer convenience and provide a low cost source of energy, which is important for those who travel to work and rely on such foods for their first meal of the day. Many baked products incorporate high levels of fat, sugar, and sometimes fruit or nuts, and this will increase the energy content of such products. Advancement in processing technology has enabled inclusion of various ingredients that augment taste, appearance and overall nutritive value of baked products; this is supporting the growth of bakery products market.
The demand for healthy convenience foods is increasing. Convenience, enhanced packaging and availability of various bakery products such as breakfast foods, sweet and savory snacks is supporting the market growth globally. Bakery products are available in wide range of varieties which attracts the consumers to experiment within the provided wide range of products.
However, the increasing health awareness amongst the consumers has resulted in their shift in preferences of food. The wide variety of options available for consumer has led to variations in consumers preferences for food products. The shifting consumption pattern and increasing population of consumer adopting healthy life-style might refrain the growth of bakery products market. There has been increasing controversies about less nutrients and spoilage due to microbial contamination which has declined the consumption of bakery products amongst the health conscious consumers.
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Latest Industry Updates
Feb 2017 International bakery group Lantmannen Unibake has acquired of Anderson Bakery, a baguette bakery in the Stockholm area, which was owned by Sven-Ake Andersson and Peter Wiberg. Strategic acquisition will help in strengthening company’s presence globally.
Jul 2017 Grupo Bimbo S.A.B. de C.V. has acquired Chicago-based East Balt Bakeries. This acquisition will help the company to maximize its production capacity.
Feb 2016 United Biscuits, a leading international manufacturer of biscuits, snacks and cakes, has announced its new product launch of McVitie’s Digestives Nibbles. The launch of McVitie’s Digestives Nibbles is a significant moment for UB which is projected to break new ground in sweet biscuits.
June 2016 Europastry S.A., has purchased bread and baked goods producer and distributor Sualba. With this acquisition, Europastry S.A. will strengthen its presence in the Valencia Region. Also, this initiative will add value products in the bakery sector.
Global Bakery Products Market – Competitive Analysis
Key players are focusing on acquisitions to expand their businesses across the globe. Acquisition has become the major strategy for key players in the last few years. Business expansions and new product launches are two main factors which are contributing significantly in order to help the company to increase their production capacity in order to fulfill increasing demand for various bakery products.
The key players profiled in bakery products are Barilla Holding S.p.A. (Italy), Britannia Industries Limited (India), Grupo Bimbo, S.A.B. de C.V. (Mexico), Mondelez International, Inc. (U.S.), General Mills, Inc. (U.S.), Dunkin’ Donuts LLC (U.S.), and United Biscuits among many others.
Global Bakery Products Market – Segments
The global bakery products market has been divided into type, form, claim, and region.
On the Basis of Type: Cake, Bread and Rolls, Pastries, Doughnuts, Biscuits, and Others
On the Basis of Form: Fresh, Frozen, and Others
On the Basis of Claim: Gluten Free, Organic, Sugar free, Low-Calories, and Others
On the Basis of Region: North America, Europe, Asia Pacific, and ROW
Global Bakery Products Market – Regional Analysis
The global bakery products market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Among all of them, Asia Pacific region is estimated to retain its dominance throughout the forecast period. Increasing popularity of convenient bakery products is driving the market growth of bakery products market globally. Developing economy and increasing disposable income are playing a key role in the bakery market growth since the last few years. Furthermore, mass consumption of bakery foods because of its low price and shifting eating habits of population are projected to surge the growth of global bakery products market.
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Barilla Holding S.p.A. (Italy), Britannia Industries Limited (India), Grupo Bimbo, S.A.B. de C.V.(Mexico), Mondelez International, Inc. (US), General Mills, Inc. (US), Dunkin’ Donuts LLC (US), and United Biscuits (UK) are some of the key players in the market.