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The global bakery products market is being driven by the increasing consumption of processed products and shift towards convenient food and beverage products. Bread is the leading segment in the bakery products industry. Within Europe, a major bakery market, Germany leads in the bread and rolls segment. Frozen bakery products are also witnessing a growing demand due to their convenience and longer shelf life. In 2017, the global frozen bakery market stood at almost USD 52 billion. Biscuits are also a popular bakery product in the market. Ready-to-eat segment, too, in the bakery industry is being propelled forward due to their convenience.
The US is the leading bakery products market, globally, accounting for nearly a fifth of the global market. The bakery sector in the US contributes to 2.1% of the country’s GDP. With the rising health concerns associated with the ingredients in bakery products, consumers in the US are increasingly seeking out healthier baked goods which are ideally, gluten-free, have high fibre content and are low in carbs. The US bakery products market is followed by China where the bakery segment is a significant part of the country’s food and beverage industry. Bakery represents 10% of China’s food and beverage market, finding impetus for its growth in the rising demand from Tier 1 cities where consumers are more open to trying out western cuisines. The rise in online bakery platforms has given a significant boost to the bakery market in the country. Thus, China along with Brazil are the fastest growing markets for bakery products. The industry in both the countries grew at a rate of almost 10% over the last four years.
Market Breakup by Types, Forms, Distribution Channels, and Regions:
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Grupo Bimbo, Finsbury Food Group Plc, McKee Foods Corporation, Yamazaki Baking Co. Ltd., BreadTalk Group Limited, Flowers Foods, Aryzta AG, Bakers Delight Holdings Ltd., Allied Bakeries Ltd., and Monginis Food Pvt Ltd are the key players in the global bakery products market as identified by EMR. The comprehensive report looks into their market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions.
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