Indian Bakery Market to Grow at a CAGR of 9.5% During 2024-2032, Aided by Changing Consumer Preferences and Demand for Healthy Convenience Foods

India has a huge consumer base for bakery-based products. Several factors contribute to the robust growth of the Indian bakery market, including rapid urbanisation, changing consumer food preferences, and increasing disposable incomes. The demand for baked goods in India is supported by the growing western influence, culinary globalisation, an expanding middle class, and an increasing appetite for convenience foods like biscuits, cakes, and bread.

India stands out as one of the leading biscuit manufacturers globally, with cookies and biscuits constituting a significant share of baked goods sales. Moreover, there is a rise in demand for bakery products that are gluten-free, devoid of chemicals and additives, and sugar-free. The market is thus experiencing increased launch of and improved accessibility to healthy bakery products tailored for health-conscious consumers, along with the expansion of bakery chains offering gluten-free and other innovative offerings to attract consumers.

Further, with surging consumer interest in home baking, companies are increasingly launching baking mixes to meet evolving customer demands. In September 2023, Puratos India launched Easy Curry Masala Bread Mix, which is a versatile product that can be used to make crusty bread, rusks, bread loaves, hot dog buns, pizza bases, and paninis. Targeted at artisans and bakers, it allows them to effortlessly spice up bakery products and experience authentic and rich flavours while maintaining the essential qualities of baked goods. Such baking mixes are widely available on online grocery stores and e-commerce websites, including Amazon.com Inc (NASDAQ: AMZN). Further, in September 2023, General Mills India announced plans to open a new plant in Nashik, Maharashtra, by August 2024 to manufacture Pillsbury Baking Mixes to serve the expanding Indian bakery market.

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Market Breakup by Type, Distribution Channel, and Region:

• The market is segmented based on type into biscuits, bread, cakes and pastries, and rusk, among others.

• Based on the distribution channel, the market is divided into supermarkets and hypermarkets, convenience stores, independent retailers, artisanal bakeries, and online.

• Region-wise, the Indian market for bakery can be divided into North India, East and Central India, South India, and West India.

Key Findings of the Report:

• The country has a huge consumer base for bakery products like biscuits, bread and roll, cakes and pastries, rusk, and others.

• Rapid urbanisation, coupled with rising disposable income is supporting the market growth in India.

• Changing consumer preferences and increasing demand for healthy and nutritious products are giving rise to gluten-free and sugar-free baked goods with zero chemicals and additives.

• The key bakery manufacturers are expanding their presence in the country to capitalise upon the growing demand for packaged baked goods and are launching innovative products to cater to the Indian palette and local preferences.

Key Offerings of the Report:

• The EMR report gives an overview of the bakery market in India for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, distribution channel, and major regions of the Indian bakery market.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Indian bakery market are Britannia Industries Ltd., Parle Products Pvt. Ltd., Surya Food & Agro Ltd., ITC Limited, Anmol Industries Ltd., Jubilant FoodWorks Limited, Ravi Foods Pvt. Ltd., Mondelez International, Inc, Mrs Bectors Food Specialities Ltd., and Patanjali Ayurved Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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