Market Trends of Asia-Pacific Baked Food and Cereals Industry
This section covers the major market trends shaping the APAC Baked Food & Cereals Market according to our research experts:
Rising Demand for Convenience Food in the Region
The consumer demand for convenience food is evolving, in accordance with various dynamic demands from consumers. The rising popularity of 'snacking-on-the-go' and 'pick-me-up' products also makes Asia-Pacific a potential market for baked snacks. In addition, a growing number of Western restaurants offering baked goods in cities are also emerging rapidly, giving an overall boost to the demand for bakery products. Other major factors driving the market are the widened distribution channels and the tendency of consumers to purchase off-the-shelf, especially in the emerging markets of Asia-Pacific. The rapid expansion of artisanal bakeries in the last few years made consumers generally prefer fresh baked goods, such as cakes and breads.
China Held a Prominent Market Share
China's bakery products market is expected to become the second-largest baked goods market, with pastries being the most popular segment. The robust economic growth that China witnessed in the last decade led to rising affluence, urbanization, and the growing influence of Western culture, all of which, collectively contributed to the overall demand for baked goods. Chinese consumers are known to prefer cakes, pastries, and sweet pies, and their preference toward bread and bread rolls is comparatively lower than Western consumers. The rapid expansion of artisanal bakeries in the last few years made Chinese consumers opt for fresh baked goods, such as cakes and breads. In China, unpackaged/artisanal baked goods are mostly sold through bakeries.
