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Global Bakery Products Market Size To Exceed USD 709.5 Billion by 2032 | CAGR of 4.7%

SPHERICAL INSIGHTS LLP
SPHERICAL INSIGHTS LLP

The Global Bakery Products Market Size was valued at USD 448.7 Billion in 2022 and the Worldwide Bakery Products Market Size is expected to reach USD 709.5 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered: Kraft Food Group, Inc., Nestle S.A., Bimbo Bakeries USA, Britannia Industries Ltd., General Mills, Associated British Foods, Campbell Soup Company, Dunkin Donuts LLC, Flower Foods, The Kellogg Company, Grupo Bimboo, S.A.B. de C.V., Mondelez International, Inc., Yamazaki Baking Co., Ltd., Alvarado Street Bakery, Honeyrose Bakery Ltd., Nature’s Bakery Cooperative, The Hain Celestial Group, Inc., Manna Organics LLC, and other key vendors.

New York, United States , Dec. 05, 2023 (GLOBE NEWSWIRE) -- The Global Bakery Products Market Size is to Grow from USD 448.7 Billion in 2022 to USD 709.5 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.7% during the projected period.

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The range of bakery products is broad and includes bread, cookies, rolls, cakes, biscuits, cupcakes, tarts, pies, sweet rolls, doughnuts, coffee cakes, and refrigerated baked goods. Bread has been prepared locally or professionally since prehistoric times and is an essential staple and source of needed nutrients. Cheesecakes and brownies are two of the most famous and widely available pastry items. Biscuits are another popular bakery product. With the development of technology, baking procedures have experienced a major transition, with contemporary techniques supplanting older baking methods. Consumer demand for high-quality, nutritious, and conveniently accessible bakery products has grown dramatically over the previous two decades, and a similar development, such as ready-to-eat foods, is expected to dominate throughout the predicted time frame due to an increasingly hectic lifestyle. Furthermore, an increase in the number of health-conscious consumers, as well as a better understanding of the chemicals used in baking, has been a significant growth element. Furthermore, new product debuts to fulfill consumer demands contribute to market growth. The rising demand for frozen bakery items, which are convenient and have a long shelf life, is also helping the market overall.

Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the “Global Bakery Products Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Cakes & Pastries, Breads, Rolls, Bagels, Pizza Crusts, Cookies, Tortillas, Pretzels, Others), By Specialty (Fortified, Gluten-free, Organic, Low-calorie, Sugar Free), By Distribution Channel (Supermarkets/Hypermarkets, Artisanal Bakeries, Convenience Stores, Online, Independent Retailers, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.” 

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The breads segment is dominating the market with the largest revenue share over the forecast period.
On the basis of product type, the global bakery products market is segmented into the cakes & pastries, breads, rolls, bagels, pizza crusts, cookies, tortillas, pretzels, and others. Among these, the bread segment is dominating the market with the largest revenue share of 64.8% over the forecast period. Bread segment superiority can be linked to the fact that it is widely consumed by people of all ages. Bread consumption is increasing in Western societies due to its high nutritional value, low cost, and ease of availability.

The organic segment is expected to hold the largest share of the Global Bakery Products Market during the forecast period.
Based on the specialty, the global bakery products market is classified into fortified, gluten-free, organic, low-calorie, and sugar free. Among these, the organic segment is expected to hold the largest share of the bakery products market during the forecast period. This is due to a growing customer preference for organic, clean-label products, as well as concerns about the environmental impact of traditional agricultural methods. Organic bakery items have no synthetic herbicides, pesticides, or genetically modified organisms (GMOs).

The supermarkets/hypermarkets segment accounted for the largest revenue share of more than 32.6% over the forecast period.
On the basis of distribution channels, the global bakery products market is segmented into supermarkets/hypermarkets, artisanal bakeries, convenience stores, online, independent retailers, and others. Among these, the supermarkets/hypermarkets segment is dominating the market with the largest revenue share of 32.6% over the forecast period. Supermarkets and hypermarkets are large retail outlets that sell a wide range of bakery products, from fresh bread to boxed pastries. They are a key player in the bakery product distribution sector due to their vast reach, various goods, promotional opportunities, and one-stop shopping.

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Europe dominates the market with the largest market share over the forecast period.

Europe is dominating the market with more than 42.8% market share over the forecast period. Europe has a rich bakery legacy, from the iconic croissants of France to the pretzels of Germany. Many European bakery delicacies are well-known worldwide. The strongly ingrained bakery traditions, as well as the sheer breadth of the European market with its numerous bakery-centric cultures, all contribute to its dominant position. The region's market position is aided by the considerable amount of bakery consumption as well as the premium associated with many European bakery items. On the contrary, Asia Pacific is predicted to grow the fastest during the forecast period. Given the region's large population and growing demand for baked goods, the Asia Pacific region has a significant and growing market share in the global bakery products industry. During the forecast period, the North American market is expected to rise at a rapid CAGR.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the  companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Bakery Products Market include Kraft Food Group, Inc., Nestle S.A., Bimbo Bakeries USA, Britannia Industries Ltd., General Mills, Associated British Foods, Campbell Soup Company, Dunkin Donuts LLC, Flower Foods, The Kellogg Company, Grupo Bimboo, S.A.B. de C.V., Mondelez International, Inc., Yamazaki Baking Co., Ltd., Alvarado Street Bakery, Honeyrose Bakery Ltd., Nature’s Bakery Cooperative, The Hain Celestial Group, Inc., Manna Organics LLC, and many others.

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Recent Market Developments

On January 2023, Sara Lee® Bread, manufacturers of delectable bread, buns, rolls, and breakfast goods, has announced the addition of Sara Lee White Bread Made with Veggies to its product portfolio. Sara Lee White Bread Made with Veggies, baked with the equivalent of one cup of vegetables per loaf and fortified with vitamins A, D, and E, is the ideal way to add some additional nutrition to any meal.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Bakery Products Market based on the below-mentioned segments:

Bakery Products Market, Product Type Analysis

  • Cakes & Pastries

  • Breads

  • Rolls

  • Bagels

  • Pizza Crusts

  • Cookies

  • Tortillas

  • Pretzels

  • Others

Bakery Products Market, Specialty Analysis

  • Fortified

  • Gluten-free

  • Organic

  • Low-calorie

  • Sugar Free

Bakery Products Market, Distribution Channel Analysis

  • Supermarkets/Hypermarkets

  • Artisanal Bakeries

  • Convenience Stores

  • Online

  • Independent Retailers

  • Others

Bakery Products Market, Regional Analysis

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Russia

    • Rest of Europe

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Rest of Asia Pacific

  • South America

    • Brazil

    • Argentina

    • Rest of South America

  • Middle East & Africa

    • UAE

    • Saudi Arabia

    • Qatar

    • South Africa

    • Rest of Middle East & Africa

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North America Bakery Product Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Bread, Cakes & Pastries, Biscuits & Cookies, Others), By Form (Fresh, Frozen), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Others), By Country (United States, Canada, Mexico, Rest of North America), and North America Bakery Product Market Insights Forecasts to 2032

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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