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Base Year
Historical Year
Forecast Year
The Indian bakery market reached approximately USD 11.07 billion in 2023. The market is projected to grow at a CAGR of 9.5% between 2024 and 2032, reaching a value of around USD 25.16 billion by 2032.
Indian Bakery Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 11.07 |
Market Size 2032 | USD Billion | 25.16 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 9.5% |
CAGR 2024-2032 - Market by Region | West India | 9.8% |
CAGR 2024-2032 - Market by Region | North India | 8.7% |
CAGR 2024-2032 - Market by Distribution Channel | Artisanal Bakeries | 10.6% |
CAGR 2024-2032 - Market by Type | Cakes and Pastries | 10.8% |
Market Share by Country 2023 | North India | 30.0% |
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Baking refers to the process of cooking food by using dry heat in an oven, hot ashes, or hot stones. Baked goods or bakery products include items such as bread, cookies, biscuits, rolls, cakes, cupcakes, pies, tarts, sweet rolls, coffee cakes, doughnuts, and refrigerated bakery products, among others. Baked goods, such as bread, provide many nutrients that are vital for health. Bread and biscuits are some of the popular products, among other baked goods.
The bakery demand is being aided by rising population levels, globalised culinary habits, an emerging middle-class population, and a rising appetite for biscuits, cakes, and bread. The affordability and high nutrient value of baked goods like bread and rusks are also boosting their demand. In addition, the growing availability of healthy bakery products to cater to the health-conscious population, coupled with the expansion of bakery chains, is increasing the Indian bakery market value.
According to the Ministry of Food Processing Industries, Government of India, the states actively involved in bakery production are Uttar Pradesh, West Bengal, Gujarat, Maharashtra, Karnataka, Kerala, Tamil Nadu, Telangana, and Andhra Pradesh. Breads and biscuits are experiencing significant growth in India as they become a staple in the diets of rural regions across the country. As fast-moving consumer goods (FMCG), both breads and biscuits are consumed daily, driving up sales in the country. Furthermore, the expansion of fast-food chains boosts the demand for breads used in sandwiches, burgers, soups, snacks, and more. Additionally, busy lifestyles, changing eating habits and Western influence contribute to the bakery industry growth in India.
Biscuits are a widely consumed mass product, typically enjoyed as a snack between meals. Despite their popularity in both urban and rural areas, the per capita consumption in the country remains at 2-2.5 kg per year. The rising urbanisation and the increasing variety of biscuits and cookies is significantly driving up the demand for biscuits.
The increasing consumer spending on confectionary and bakery goods by the population of the country is further contributing to bakery industry in India. As per industry reports, in India, the PFCE, a key indicator of consumer spending, grew at a Compound Annual Growth Rate (CAGR) of 6% over fiscal years 2012 to 2023, reaching approximately INR 93.4 trillion by the end of fiscal 2023. In fiscal 2021, there was a decline in PFCE by 5.2%, attributed to strict lockdowns, limited discretionary spending, and disruptions in demand-supply dynamics due to the COVID-19 pandemic. The PFCE figures showed a consistent upward trend from INR 49 trillion in FY12 to INR 83 trillion in FY20, followed by a sharp drop to INR 78 trillion in FY21. However, the PFCE rebounded significantly to INR 87 trillion in FY22, with a notable Year-over-Year (YoY) growth of 11.3% and continued to rise to INR 93 trillion in FY23 with a 7% YoY growth.
As per the India bakery industry analysis, India is a major exporter of bakery goods, standing between 15 and 30 positions, globally. The major states exporting sweet biscuits in India are Telangana, Gujarat, Maharashtra, and Karnataka, while the major states exporting rusks toasted bread and similar toasted products include Gujarat, Maharashtra, Delhi, and Karnataka.
As per India Brand Equity Foundation, the e-retail market in India is projected to exceed US$ 160 billion by 2028. The Indian online grocery market is expected to grow from US$ 3.95 billion in FY21 to US$ 26.93 billion by 2027, expanding at a CAGR of 33%. India's consumer digital economy is anticipated to become a US$ 1 trillion market by 2030, up from US$ 537.5 billion in 2020, driven by the strong adoption of online services such as e-commerce and edtech.
Growing demand for packaged baked goods; rising trend of veganism; growing preference for organic and natural bakery products; and flavour innovations are the major trends impacting the market growth
Sep 28th 2023
Puratos India launched Easy Curry Masala Bread Mix, its versatile product for use in the preparation of crusty bread, rusks, bread loaves, hot dog buns, pizza bases, and paninis, targeted at artisans and bakers.
Sep 7th 2023
General Mills India announced the opening of its new plant in Nashik, Maharashtra, by August 2024 to manufacture Pillsbury Baking Mixes amid the growing Indian bakery market expansion.
Jan 24th 2023
Mondelez India launched bite-sized Cadbury Chocobakes Choco Chip Cookies, a combination of cookies and chocolate cookies, to enhance its position in the premium cookies segment.
Growing demand for packaged bakery products
As per the Indian bakery market report, the expansion of distribution channels such as supermarkets and online stores is driving the demand for packaged bakery products as indulgent snacking options.
Rising trend of veganism and health and wellness
The growing trend of health and wellness and the rising vegan population are driving the demand for baked goods with better-for-you ingredients, vegan and natural alternatives, and whole grain options, thus increasing the market size of bakery industry in India.
Growing Demand for organic and natural baked goods
With rising environmental and health consciousness and the increasing trend of healthy living and natural nutrition, the demand for natural, organic, additive-free, and whole-grain bakery products is significantly rising.
Innovations in flavours of baked goods
There is a rising incorporation of ethnic ingredients such as turmeric, coconut, saffron, elaichi, and hibiscus, among others, in baked goods in India to provide a multi-sensory experience and bold flavours.
As the growing disposable incomes and urbanisation are leading to the expansion of fast-food chains and quick-service restaurants in the country, the demand for baked goods such as bread for use in snacks, sandwiches, and burgers is rising considerably. For instance, in May 2023, Westlife Foodworld, the McDonald’s India franchisee, announced its plans to open 580-630 more restaurants by 2027 in India. Apart from this, key players are targeting the rising rural and semi-rural population by offering innovative bakery products in affordable and smaller offerings.
Some of the key trends in Indian bakery market are growing health concerns, innovations in bakery products, and the development of sugar-free, gluten-free, and fortified baked goods. Key players are also capitalising on the trend of health and wellness by developing baked goods with functional ingredients such as omega-3, fruits, superfoods, seeds, nuts, antioxidants, and vitamins, among others.
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The EMR’s report titled “Indian Bakery Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
CAGR 2024-2032 - Market by | Type |
Cakes and Pastries | 10.8% |
Biscuit | 10.3% |
Bread | XX% |
Rusk | XX% |
Others | XX% |
Market Breakup by Type
CAGR 2024-2032 - Market by | Distribution Channel |
Artisanal Bakeries | 10.6% |
Convenience Stores | 9.0% |
Supermarkets and Hypermarkets | XX% |
Independent Retailers | XX% |
Online | XX% |
Market Breakup by Distribution Channel
CAGR 2024-2032 - Market by | Region |
West India | 9.8% |
North India | 8.7% |
East and Central India | XX% |
South India | XX% |
Market Breakup by Region
2023 Market Share by | Region |
North India | 30.0% |
East and Central India | XX% |
West India | XX% |
South India | XX% |
Biscuits are witnessing a high demand in India, attributed to their popularity as delicious and affordable snacks
As per the Indian bakery market analysis, biscuits, available in different textures, flavours, and concepts, enjoy high popularity and demand in both urban and rural regions in India. The popularity of biscuits can be attributed to their consumption as a snack with excellent taste, affordable prices, and high shelf stability. The manufacturing of biscuits in the country is also substantially increasing due to the abundance of raw materials and the availability of cheap labour.
Moreover, with the growing health-consciousness, the demand for nutritious, multi-grain, and sugar-free or low-sugar biscuits that can support weight management and optimal cholesterol levels is substantially rising. Key players are also incorporating exotic fruits and nuts such as figs, prunes, hazelnuts, and pears, among others, in cookies and crackers to enhance their nutritional profile, thus increasing the bakery market share In India.
The demand for bread to grow at a robust pace in the coming years, enhancing the overall Indian bakery market value
As per several statistics, biscuits and breads represent about 80% of baked goods produced in India. The increasing variety of different types of breads in diverse distribution channels, changing customer preferences, and globalisation and rising Western influences are driving the growth of the bakery market. Besides, key players are launching healthy breads to capitalise on the growing health consciousness in the country. For instance, in April 2023, Britannia launched Millet Bread infused with the goodness of ragi, bajra, jowar, and oats, in India to provide customers with a convenient way to incorporate millet into their meals.
Meanwhile, the India cakes and pastries market is growing due to the rising baking culture in the country, the growing availability of packaged cakes, and the increasing consumption of cakes and pastries in social settings and celebrations like birthday parties.
South India accounts for a significant portion of the Indian bakery market share. States like Tamil Nadu and Kerala boast an organised bakery sector and companies in the region are actively launching new products. For instance, In August 2023, Kerala-based Craze Biscuits launched a chocolate sandwich biscuit, Bourbon, and chocolate cookie, Choco Rocky, in Kochi amid the rising demand for local and indigenous products.
Rising demand for convenience and the increasing preference for baked goods as snacks are also increasing the Indian bakery industry revenue. According to a survey, 31% of Bangalore’s population consume bakery products like biscuits and cakes every day.
Meanwhile, states like Maharashtra, Uttar Pradesh, Tamil Nadu, Uttarakhand, and West Bengal are some of the largest consumers of low-price high nutrition (LPHN) biscuits, as per the Biscuits Manufacturers Welfare Association (BMWA). This can be attributed to their affordability and excellent flavour profile, boosting their consumption among low-income families.
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The players in bakery industry In India are focused on offering products in new flavours and variants, including multi grain, gluten-free, and vegan baked goods, to meet evolving customer demands.
Britannia Industries Ltd.
Britannia Industries Ltd., established in 1892 in Kolkata, India, is a leading food product company in India. Its key business segments include dairy, bakery, and adjacent snacks spanning more than 80 countries in the world.
Surya Food & Agro Ltd.
Surya Food & Agro Ltd., headquartered in Uttar Pradesh, India, is a company that manufactures and sells biscuits under the Priyagold brand. The company boasts strong manufacturing capabilities and extensively invests in developing products for customer preference.
Parle Products Pvt. Ltd.
Parle Products Pvt. Ltd., founded in 1929, is a leading manufacturer of biscuits and confectionery products in India. Its flagship product, Parle-G, is one of the most popular biscuits in India and is synonymous with nutrition, quality, and superior taste.
The key players are increasingly offering diverse products on e-commerce channels amid the rising customer demands for accessibility, competitive pricing, and convenience. Companies are also tapping into the direct-to-consumer segment and offering home delivery services to reach a wide range of customers, which is boosting the growth of bakery market. In July 2021, the Academy of Pastry & Culinary Arts (APCA), based in Delhi, launched the launch of Enchanté, its online bakery outlet, amid the growing demand for baked goods among customers.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Trade Data Analysis |
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Competitive Landscape |
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Companies Covered |
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*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 Indian bakery market reached a value of USD 11.07 billion in 2023.
The market is projected to grow at a CAGR of nearly 9.5% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 25.16 billion by 2032.
The major drivers of the market include rising disposable incomes, increasing population, rising demand for biscuits and cookies, the growing use of online platforms, thriving consumer demand for new and healthy food options, and the rapid advancement in technology.
The rising penetration of bakery chains and the launch of healthy products in the bakery segment is likely to be a key trend guiding the growth of the market.
North India, East and Central India, South India, and West India are the leading regions in the market.
Biscuit segment is the dominant type of the product in the market.
The leading distribution channels include convenience stores, supermarkets and hypermarkets, independent retailers, artisanal bakeries, and online, among others.
The leading players in the 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.
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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 06 17 27
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 287899028, +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
+84865399124
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