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Bakery products represent a wide range of products including fresh and frozen bread, cakes, cookies, mixes and dough, and tortillas. The commercial bakery industry has experienced significant changes in recent decades across the world due to the entry of large market players along with the dominance of local or unorganized players, automation of bakery operations, innovations in ingredients used, and end product offerings, etc.
The global bakery products market is projected to expand at a rapid pace over the forecast period, owing to the growing demand for convenience food attributed by rapid urbanization across the globe, especially in developing economies. According to the United Nations, in 2018, 55% of the world population was living in urban areas, which is expected to become 68% by 2050.
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Changing lifestyle is leading to the adoption of varying food habits, which in turn is expected to boost the growth of the bakery products market. The launch of healthy bakery products made up of trans-fat free products, multi-grain, whole grain, and natural flavors due to their rising demand among consumers will further escalate the growth of the market during the forecast years.
Among the global top 50 companies in pastry and bakery industry, European companies accounted for 43% of the 50 leaders’ combined revenue in 2017 and are the key contributors to the growth of the industry.
Easy availability of raw materials for the production of bakery products, such as flour, sugar, starch, additives, emulsifiers, and others, coupled with cheap labor cost associated in the production of bakery products is expected to aid the growth of the market during the forecast period. However, perishable nature of baked products, coupled with the rising inclination of consumers towards eating healthy food, especially raw food products or fruits and vegetables can restrain the growth of the bakery products market in the forthcoming years.
Some of the major companies that are present in the global bakery products market include Grupo Bimbo, Finsbury Food Group, Yamazaki Baking, Kraft Foods, Flowers Foods, Rich Products, Associated British Foods, Dr. Oetker, General Mills, CSM Bakery Solutions, The Campbell Soup Company, and Fuji Baking Group.
By Product Type
By Distribution Channel
Among products, bread segment is projected to be the leading segment owing to huge consumer base for bread across the globe. In Europe, bread segment accounted for largest share of around 79% in total bakery consumption by volume in 2014. In many countries, bread is consumed as a staple food, hence its demand is expected to remain steady throughout the forecast period in developed markets, and expected to increase in emerging economies where the population is expanding rapidly. Cakes & Pastries segment is projected to rise at a crucial pace during the forecast period, owing to the launch of new flavors and increased inclination of consumers towards indulgence food.
Among form, fresh bakery segment is anticipated to hold the dominance in the global bakery products market over the forecast years, owing to the high nutritional value associated with the consumer preference for consumption of fresh food products. Frozen bakery segment is expected to grow steadily over the forecast period, owing to their rising demand across foodservice industries. Freezing helps in maintaining the consistency of the baked product for an elongated period, which in turn is expected to fuel the demand for frozen bakery products during the forecast period.
Europe is projected to be the leading region in the global bakery products market over the forecast period, owing to increased consumption of bakery products in prominent European countries, such as Germany, Italy, and France. According to the International Association of Plant Bakers (AIBI), Turkey, Bulgaria, Ukraine, Greece, and Germany are the top five countries witnessed higher per capita consumption of bread. Presence of prominent market players in Europe, coupled with a rapid increase in the number of small bakery manufacturers across European countries is expected to positively influence the growth of the bakery market during the forecast period. Bakery products market in Europe have reached maturity stage of growth (countries either witnessing stable or declining trend) but the products having features of organic and non-GMO are likely to gain higher importance during the forecast period (2019-2026).
Bakery market in the Asia Pacific is projected to expand considerably during the forecast period, due to rising per capita income of people in rising economies such as China, Japan, and India. Furthermore, increased women employment in Asian countries in the recent years has led to the demand of convenience and ready-to-eat food across the region, which is further expected to boost the growth of this market in developing countries.
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