Asia-Pacific Bakery Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The Asia Pacific bakery products market is projected to grow at a CAGR of 8.46% during the forecast period (2022 - 2027).

The COVID-19 pandemic disrupted the production, labour and supply of raw materials. But the demand from the consumer side gradually increased from online and offline platforms. Online platforms experienced a heavy surge in consumers' orders; there was an instance when consumers purchased above-average purchases compared to before lockdown scenarios. This crisis made consumers shift toward a healthy lifestyle and diets, turning into an opportunity for manufacturers. Many players come up with fortified, enriched bread with visible packaging methods tapping many customers as an opportunity cost.

As per the recent survey of Covid-19, consumers are spending more time preparing meals and snacks at home, which is also raising demand for baking goods such as soda, flour, Yeast and other household products. contact less delivery, contact less payments have made markets reaching to home.

Asia Pacific consumers are become health conscious day by day which has resulted in the demand for low calorie and sugar free food products. Population in the region, especially in have diversified tastes and preferences and fond of experimenting with varieties. Manufacturers are constantly innovating and widening their product portfolios to meet the dynamic consumer demands

Scope of the report

Bakery products, which include bread, rolls, cookies, pies, pastries, and muffins, are usually prepared from flour or meal derived from some form of grain.The Asia-Pacific bakery products market is segmented by product type into cakes and pastries, biscuits, bread, and morning goods; and by distribution channel into hypermarkets/supermarkets, convenience stores, specialty stores, online retailing, others. Also, the study provides an analysis of the bakery products market in the emerging and established markets across the Asia Pacific region, including China, Japan, India, Australia, and Rest of Asia Pacific. The report offers market size and forecasts for the bakery products market in value (USD million) for all the above segments.

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Key Market Trends

Increasing Demand for Convenience Foods

The consumer demand for convenience foods is evolving with dynamic demands from consumers. The western part of the world is saturated with bakery products. Demand is increasing in Asian countries like China and India, where the growth rate is 7 to 8% annually. A growing number of Western restaurants offering baked goods in cities are also emerging rapidly, boosting the demand for bakery products. Another major factor driving the segment is the widened portfolio with multiple value-added products like reduced sugar, enhanced nutrition, plant-based products e.t.c and multiple distribution channels and the tendency of consumers to buy off-the-shelf, especially in emerging markets in the Asia Pacific region. In the last few years, the rapid expansion of artisanal bakeries made Chinese consumers generally prefer fresh baked goods, such as cakes and bread. Increased shelf life and improved customer convenience.

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