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The global bakery products market value reached around USD 513.17 Billion in 2023 due to the rising demand for convenience foods, as busy lifestyles lead consumers to favour ready-to-eat options like pre-packaged sandwiches and pastries. The industry is expected to grow at a CAGR of 6.70% during the forecast period of 2024-2032 to attain a value of USD 919.90 Billion by 2032. The growth of e-commerce platforms further allows consumers to easily purchase a wide range of bakery items online, from artisanal breads to gourmet cookies, which is also fuelling market expansion.
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The bakery industry is witnessing a wave of innovation, driven by evolving consumer preferences and creative culinary approaches. Bakeries are increasingly exploring bold flavour combinations, merging sweet and savoury elements. Popular trends include "swicy" flavours—sweet and spicy fusions—like chocolate cookies topped with miso buttercream, and alcoholic-infused treats such as Moscow Mule coffee cakes. Exotic fruit flavours like pomegranate, watermelon, and passion fruit are also becoming mainstream, appealing to consumers seeking new taste experiences. Other innovations include the development of "Crookie," a hybrid of a croissant and a cookie. This bakery product gained popularity on TikTok.
Moreover, sustainability practices are significantly influencing the bakery products market. Buns from Home use surplus dough to create 35% of its menu items, effectively reducing food waste. Bread 41 has implemented a Move to Zero initiative, including a biodigester for organic waste and eliminating single-use cups, preventing over 34,000 cups from landfills in 2023. GAIL's Bakery has adopted bio-polymer lighting to reduce CO2 emissions. Additionally, bakeries are sourcing local and organic ingredients, which reduces transportation emissions.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is assessed to grow at a CAGR of 6.70% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 919.90 Billion by 2032.
The major drivers of the market include rising disposable incomes, increasing population, new product launches, higher standards of living and shifting lifestyles due to cultural changes, increasing consumption of processed products, the rising demand for low-calorie bakery products, hectic lifestyles, rapid urbanisation, the rise of online bakery platforms, and the rising demand for diversified products like organic and gluten-free products.
The rising product diversification and rapid innovations are expected to be the key trends in the bakery products market.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The bread and rolls segment is the dominant product in the market.
The major distribution channels in the market include supermarkets and hypermarkets, specialty stores, convenience stores, and online, among others.
Key players in the market are Associated British Foods Plc, Nestle S.A., Britannia Industries Limited, Grupo Bimbo, S.A.B. de C.V., Finsbury Food Group Limited, General Mills Inc., McKee Foods Corporation, Parle Products Pvt. Limited, ITC Limited, Walkers Shortbread Ltd, Lotus Bakeries NV, Kambly SA, and Annie’s Homegrown, Inc, among others.
In 2023, the market reached an approximate value of USD 513.17 Billion.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124