Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Bakery Product market.
Trusted Business Insights presents an updated and comprehensive analysis of Bakery Product Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Bakery Product market during the forecast period (2021-2026).Our research analyst have analysed at the short-term stress in the industries subsectors as well as long-term impacts. Analyst have also examined the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Bakery Product Market
The global Bakery Product market size is projected to reach US$ 262.21 billion by 2026, from US$ 217.05 billion in 2020, at a CAGR of 3.2% during 2021-2026. Increasing consumption of ready-to-eat foods across the globe owing to hectic lifestyle is expected to fuel the product demand over the forecast years. Growing preference for ethnic food along with the success of Thai and Mexican food in restaurants has resulted in increased demand for bakery products in Europe.
Major companies are increasing their geographical presence to gain greater market share. The establishment of joint warehouses in the key locations is expected to remain a critical success factor for the companies. The cakes & pastries segment is forecasted to register the fastest CAGR from 2019 to 2025 owing to increased consumption of snack.
Asia Pacific is expected to witness the fastest CAGR over the forecast years due to strong the presence of key companies in emerging countries, such as China, India, Singapore, and Japan. Moreover, rising per-capita income in these countries will contribute to the growth of the regional market. Basic raw materials required for manufacturing bakery products include milk, emulsifiers, fat, stabilizer, flavors, sugar, and flour.
The pricing of bakery products is highly dependent on the prices of these materials as well as their availability. To combat supply-demand imbalances and uncertainty, numerous companies, such as Associated British Foods and Dawn Foods and Bakels, have integrated backward. The bakery product market involves high energy usage and logistics and storage costs as the product have to be transported in specially designed automotive components equipped with state-of-the-art refrigeration capabilities. These factors may restrain the market growth to some extent.
Market Segmentation, Outlook & Viewpoint: Global Bakery Product Market
Product Market Segmentation & Outlook (Revenue, USD Billion, 2014 – 2025)
Bread & Rolls
- Burger Buns
- Sandwich Slices
- Frozen Bread
Cakes & Pastries
- Dessert Cakes
- Sponge Cakes
- Bar Cookies
- Molded Cookies
- Rolled Cookies
- Drop Cookies
Distribution Channel Market Segmentation & Outlook (Revenue, USD Billion, 2014 – 2025)
- Hypermarkets & Supermarkets
- Convenience Stores
- Specialty Stores
Key Players, Recent Developments & Regional Insights: Global Bakery Product Market
Various factors affecting the industry growth are flavors and fat content along with texture and sweetness. Breads & rolls segment is expected to witness significant growth on account of substantial rise in demand for the products in regions, such as North America and Asia Pacific. The cakes & pastries segment is expected to witness fastest growth over the forecast period accounting for the largest market share owing to the introduction of novel flavors and rising consumer disposable income levels. Growing population in Asia Pacific will also provide long-term opportunities for industry participants. The cookies product segment is also estimated to have a healthy growth in future on account of the introduction of new flavors, shapes, and textures in the product.
Distribution Channel Insights
Based on distribution channel, the market has been divided into hypermarket & supermarket, convenience store, specialty stores, and others. Specialty stores and convenience stores are the key distribution channels in the global market. Specialty stores is expected to remain dominant, as well as the fastest-growing segment, over the forecast period. It is expected to account for more than 33% of the total market share by 2025.
Specialty stores, such as independent stores, majorly constitute artisanal bakery products. Rising health consciousness has motivated the bakery producers to include functional ingredients, such as legumes, oats, probiotics, fortified margarine, and cereals, in their products. Thus, continuous product development will help boost the market growth.
Europe is expected to be the dominant and second fastest-growing regional market on account of high demand for baked products, such as gluten-free, high-fiber, and Trans fat products, which are staple foods. Asia Pacific is anticipated to be the fastest-growing regional market over the forecast years on account of the presence of key companies in emerging countries, such as China, India, Singapore, and Japan. Developing markets are projected to provide growth opportunities due to rising population and per-capita income levels. Moreover, demand for breakfast grains and cereals, in countries such as China and India, will drive the market further.
Bakery Product Market Share Insights
High entry barriers owing to brand loyalty and huge capital investments are likely to maintain intense competition. Major companies focus on achieving optimum business growth by implementing various growth strategies, such as joint ventures, mergers & acquisitions, strategic partnerships with regional manufacturers, and diversification of distribution channels. Some of the key companies present in the industry are Kraft Food Group, Inc.; Nestle S.A.; Bimbo Bakeries USA; Britannia Industries Ltd.; General Mills; Associated British Foods; and Campbell Soup Company.
Key Insights Covered: Global Bakery Product Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Bakery Product industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Bakery Product industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Bakery Product industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Bakery Product industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Bakery Product industry.
Research Methodology: Global Bakery Product Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
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