Baking is referred to be the oldest form of cooking. Baking is the transformation of dough that is made of flour, milk, and other ingredients such as egg, sugar, fats, and other additives in food with unique taste and odor. The bakery products have an extensive portfolio, including bread, cookies, rolls, cakes, biscuits, cupcakes, tarts, pies, sweet rolls, doughnuts, coffeecakes, and refrigerated bakery products. A typical bread is an everyday staple and a source of vital nutrients, made domestically or commercially since prehistoric times.Cheesecakes and brownies are one of the most popular and widely produced bakery products. Biscuit is also a popular category of bakery products. Baking methods have undergone a massive transformation with the advent of technology, with modern methods taking over the traditional baking methods.
COVID-19 Impact analysis
- COVID-19 had a significant impact on the bakery products market. Many bakers had to close their businesses during the peak of the pandemic due to insufficient sales of the bakery products and a shortage of workers. Along with this, disruptions in logistic facilities due to the lockdown affected the supply chain, leading to the unavailability of products as per consumers’ needs, ultimately affecting the market growth. Moreover, the inaccessibility of raw materials hampered production in this market during the lockdown. The smaller bakers in the unorganized sector were most affected by all these constraints.
- On the other hand, bakery products (especially bread) have been a staple diet for people all over the world for centuries. The convenience, accessibility, and nutrition profile associated with them are the major factors that have sustained these products in the modern market. Bakery products are included in people's daily diet not only in the developed economies but also in underdeveloped or developing economies. All of these factors have contributed to the growth of this market even during the lockdown, and they are expected to boost the growth of this market.
Top Impacting Factors
- Numbers released by the World Bank reveal that around 151 million children below the age of 5 are suffering from chronic malnutrition. Moreover, close to 2 billion people worldwide are deficient in essential micronutrients to be productive and ward off diseases. This would necessitate elevating agricultural productivity, which will be one the key Organic Bakery Products Market trends.
- Development of revolutionary technologies The agriculture sector is undergoing rapid transformations on account of introduction of next-generation technologies. For example, governments and academic institutions are increasingly investing in developing genome editing tools such as CRISPR to build higher pest resistance in crops and increase their capacity to create food. Other advanced technologies such as blockchain, AI, and IoT are also enhancing the Organic Bakery Products Market potential in the forthcoming years.
Rise in demand for convenience food products
The increase in consumer preference for convenience food products indirectly encourages the demand for frozen bakery products as they require less time and effort. The processed food market is driven by the increase in the need for convenience due to the busy customer lifestyles. This, in turn, has led to an increase in demand for frozen bakery products. In addition, the high growth of the frozen food industry due to the fast-growing urban households of developing countries is projected to drive the demand for frozen bakery products. The rise in per capita income and the increase in the trend of snacking between meals are the key factors encouraging the demand for frozen bakery products. The development of retail channels in the form of supermarkets, hypermarkets, convenience stores, and specialty stores has encouraged the growth of the market.
Frozen bakery products do not involve scratch baking and thus require less labour. Therefore, various bakers now prefer keeping frozen baked and parbaked items in their in-store bakeries.
Surge in Demand for Free-from Food Products
Free-from food products (particularly gluten-free products) are not only consumed by people with celiac disease, but also by the general health-conscious population. The demand for gluten-free products arises out of the belief that gluten-free and sugar-free edibles help people overcome problems related to bloating, indigestion, obesity, and diabetes. Thus, bakery products, which claim to be fat-free, sugar-free, gluten-free, whole wheat, and salt-free are gaining popularity among the health-conscious consumer category.
Moreover, according to the Agriculture and Horticulture Development Board, United Kingdom, the free-from food market is expected to record an average growth of 10% every year for the next three years, and the share of bakery products and cookies in the free-from food category is around 35%. This, in turn, is indicating a lucrative market opportunity for free-from bakery products.
Key Benefits of the Report
- This study presents the analytical depiction of the bakery products industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the bakery products market share.
- The current market is quantitatively analyzed to highlight the bakery products market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed bakery products market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Report
- Who are the leading market players active in the bakery products market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "bakery products" market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the current trends and predicted trends?
Bakery Products Market Report Highlights
By Product Type
By Distribution Channel
Key Market Players
Manna Organics LLC, Honeyrose Bakery Ltd., Alvarado Street Bakery, Finsbury Food Group Plc, Grupo Bimbo,A.B. de C.V., Flower Foods, Inc., The Hain Celestial Group, Inc, United States Bakery., Toufayan Bakery, Inc, Nature’s Bakery Cooperative