Asia-Pacific Bakery Products Market Size (2024 - 2029)

APAC Bakery Products Market Analysis

The Asia-Pacific Bakery Products Market size is estimated at USD 162.97 billion in 2024, and is expected to reach USD 247.42 billion by 2029, growing at a CAGR of 8.71% during the forecast period (2024-2029).

The emerging economies of Asia-Pacific represent more significant, untapped potential for organized development of bakery products, owing to rising disposable incomes, urbanization, and the demand for a western-style diet. Bread consumption in Asia-Pacific developing markets depends on various factors, like the dependence of the wheat market on government regulations, the degree of differences between urban and rural populations, and the rate of income growth, especially in China and Southern Asia. This crisis made consumers shift towards a healthy lifestyle and diet, creating an opportunity for manufacturers. Organic bakery products such as cookies, biscuits, bread, cakes, and others are gaining traction due to shifting consumer preferences towards healthy and organic products. These products contain protein, dietary fiber, calcium, and other minerals and are free from synthetic chemicals and pesticides, making them healthier than their conventional variants.

Along with this, the mass consumption of bread and biscuits on a daily basis is the main reason driving the market's growth. Asia-Pacific consumers are becoming more health-conscious, resulting in a demand for low-calorie and sugar-free bakery products. For instance, in September 2021, Mondelez International launched a range of sugar-free Oreos in China. The Oreo Zero biscuits contain maltitol instead of sucrose and glucose, and they also contain added fiber. The biscuits came in two varieties: classic Oreo and rose-flavored Oreo Zero. The population in the region has diversified tastes and preferences and is fond of experimenting with varieties. Manufacturers are constantly innovating and widening their product portfolios to meet dynamic consumer demands. Further, the rising acceptance of convenience foods due to the fast-paced and hectic lifestyles of consumers positively aids in market growth. Many players develop fortified, enriched bread with visible packaging methods, capturing a large number of customers at an opportunity cost.

APAC Bakery Products Industry Segmentation

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, distribution channel, and country. By product type, the market is segmented into cakes and pastries, biscuits and cookies, bread, morning goods, and other product types. By distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, specialty stores, online retail stores, and other distribution channels. Also, the study analyzes the bakery products market in emerging and established markets across the Asia-Pacific region, including China, Japan, India, Australia, and the Rest of Asia-Pacific. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).