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

Asia-Pacific Bakery Products Market is segmented by Product Type (Cakes and Pastries, Biscuits, Bread, and Morning Goods); By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Online Retailing, Others); and By Country (China, Japan, India, Australia, 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.

Market Snapshot

Asia-Pacific Bakery Products Market Summary
Study Period: 2016-2027
Base Year: 2021
CAGR: 8.46 %

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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.

By Product Type
Cakes and Pastries
Biscuits & Cookies
Bread
Morning Goods
Others
By Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Specialist Stores
Online Retailers
Others
Country
China
Japan
India
Australia
Rest of Asia-Pacific

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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.

Asia-Pacific Bakery Products Market1

China Continue to Dominate the Regional Market

China's bakery industry has been expanding rapidly, with changing lifestyles and diets. The retail sales of bakery products are valued at more than USD 37 Billion in 2021comprising 10% of global markets. It is the world's 2nd most significant baking goods retail market. Raising disposable income combined with new varieties, expanding bakery presence in retail, e-commerce, hypermarkets, supermarkets, and other platforms are filling the gap between consumers and companies. The introduction of innovations from western parts is replacing traditional bakery items in china.

Asia-Pacific Bakery Products Market2

Competitive Landscape

The Asia Pacific market for bakery products is fragmented, owing to the presence of large regional and domestic players in different countries. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. The key players dominating the market include Britannia Industries, Goodman Fielder, Bakers Delight Holdings, Mondelēz International, Parle Products Pvt. Ltd., and ITC Limited, among others.

Recent Development

In April 2022, Chine, New entrant in the bakery industry, Mondelez has introduced mature bakery partners in China to jointly develop innovative businesses through “cross-border cooperation” as the launch plan of Oreo cake in Chinese Market.

In March 2022, Malaysia: Cybake, a bakery management software , has opened an office in Melbourne and is now available to commercial bakeries across Australia. The pandemic has highlighted the need for many businesses to move to cloud-based solutions where possible, and bakeries are no different.

In October 2021, India: Group Bimbo takes over Kitty Bread. Kitty Bread produces white, brown, whole wheat and fruit bread, among other products in a strategic located facility. This acquisition complements Grupo Bimbo’s current product portfolio, and it enhances its presence in India and long-term view in India.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Cakes and Pastries

      2. 5.1.2 Biscuits & Cookies

      3. 5.1.3 Bread

      4. 5.1.4 Morning Goods

      5. 5.1.5 Others

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarkets/Hypermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Specialist Stores

      4. 5.2.4 Online Retailers

      5. 5.2.5 Others

    3. 5.3 Country

      1. 5.3.1 China

      2. 5.3.2 Japan

      3. 5.3.3 India

      4. 5.3.4 Australia

      5. 5.3.5 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Position Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Goodman Fielder

      2. 6.4.2 Bakers Delight Holdings

      3. 6.4.3 Nestle SA

      4. 6.4.4 Mondelez International

      5. 6.4.5 Parle Products Pvt. Ltd.

      6. 6.4.6 Monginis

      7. 6.4.7 ITC Limited

      8. 6.4.8 Kellogg's Company

      9. 6.4.9 Bonn Group

      10. 6.4.10 Harvest Gold

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Asia-Pacific Bakery Products Market market is studied from 2016 - 2027.

The Asia-Pacific Bakery Products Market is growing at a CAGR of 8.46% over the next 5 years.

Britannia Industries, Goodman Fielder, Bakers Delight Holdings, Mondelēz International, Parle Products Pvt. Ltd. are the major companies operating in Asia-Pacific Bakery Products Market.

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