Baked Goods Packaging Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.44 Billion |
| Market Size (2029) | USD 5.62 Billion |
| CAGR (2024 - 2029) | 4.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Baked Goods Packaging Market Analysis
The Baked Goods Packaging Market size is estimated at USD 4.44 billion in 2024, and is expected to reach USD 5.62 billion by 2029, at a CAGR of 4.80% during the forecast period (2024-2029).
Driven by rising consumption of baked goods and changing demands from consumers and manufacturers, the bakery packaging market is witnessing consistent growth. With lifestyles becoming busier, there's a heightened demand for convenient, ready-to-eat bakery items, amplifying the need for efficient packaging solutions.
- The bakery industry offers enormous opportunities for growth, innovation, and job creation. Bakery products, such as bread, are the most common food. Factors such as availability, ease of use, product variation, and quality demand are the key factors leading baked goods packaging suppliers to expand their chains worldwide.
- The baked goods packaging market is expected to be driven by increasing sales of bakery products worldwide. The increase in demand for bakery products is attributed to various factors, such as the increasing shelf life of ready-to-eat foods, hectic lifestyles, and rapid urbanization. The growth of organized retail is a significant factor expected to stimulate demand for bakery packaging, owing to the benefits of increasing the shelf life of the products.
- Most manufacturers of bakery products are inclined to adopt luxury packaging, especially during the festive seasons, to enhance their brand name, as luxury packaging aids customers in recalling the particular brand. Flexible packaging is gaining traction in the baked goods packaging market owing to various properties that include lightweight, which is expected to fuel the demand for flexible packaging demand shortly.
- Changing consumer habits and lifestyles are shaping the bakery industry. Part of a global trend, there is greater demand for healthier products and alternatives, particularly when it comes to bakery goods, which are more commonly consumed daily as opposed to being a treat. With high consumption rates, customers want baked goods that are ‘gluten-free’ and are increasingly seeking gluten-free products or goods made with alternative ingredients such as multigrain and whole-wheat. Alongside healthier options, millennials, in particular, are always seeking new flavors and experiences, making flavor innovation key.
- The demand for bakery packaging is expanding, attributable to the allure of natural, solid, and all naturally baked items among consumers, which is relied upon to make a positive effect on the bakery packaging market.
- However, the factor that can hinder the market's growth is that baked goods, being perishable, necessitate packaging that preserves their freshness and extends their shelf life. Striking a balance between this requirement and sustainable materials poses a significant challenge. Packaging for baked goods must comply with diverse food safety and labeling regulations, which often differ by region.
Baked Goods Packaging Market Trends
Bread to Hold Dominant Share
- Bakery products, particularly bread, are experiencing high demand due to the increasing consumer choice for convenience foods and the desire for appealing taste and texture experiences. These products' convenience, affordability, and nutritional value are key factors in their market sustainability. As a versatile staple, bread can be consumed independently or used in various dishes, making it a favored choice for quick meals and snacks.
- Bakery products have become a staple in daily diets, increasing demand for items that offer bread-like flavors and textures. Many baked goods, including different types of bread such as whole wheat, sourdough, and rye, are rich in fats, carbohydrates, nuts, and fruits, enhancing their nutritional energy content. The diversity in bread offerings caters to different consumer preferences and dietary needs.
- Modern food processing technology enables manufacturers to develop new products with improved taste, appearance, and nutritional profiles, which is expected to drive growth in the bakery goods market during the forecast period. This includes innovations in bread-making techniques, such as extended fermentation processes and alternative flours, to enhance flavor and nutritional value.
- Multi-grain, high-fiber, and diabetic-friendly bakery products with low carbohydrate content have gained popularity among health-conscious younger consumers. This trend extends to bread varieties, with an increasing demand for options like sprouted grain bread, gluten-free bread, and low-glycemic index bread. The rising awareness of sugar-free alternatives that satisfy sweet cravings has led to a growing demand for diabetic-friendly bakery items, including specially formulated breads and other baked goods.
- According to the US Census Bureau, revenue from bread and bakery product manufacturing in the United States is projected to amount to approximately USD 46.2 billion by 2024, compared with USD 41.93 billion in 2020.
- With the increasing production and consumption of bread and bakery products, the demand for packaging solutions will surge. These packaging solutions are essential for protecting, preserving, and transporting various goods, including sliced bread, buns, pastries, and specialty items. As a result, there's a growing need for innovative packaging solutions tailored to these diverse product types.
Asia is Expected to be the Fastest Growing Segment
- The Asia-Pacific region is set to witness substantial growth in the baked goods packaging market. This surge is fueled by the rising adoption of Western diets in nations like China, India, and Southeast Asia. Key drivers of this market evolution include population growth, increasing female employment rates, and rising disposable income. Moreover, the health-conscious trends in China and Japan are spurring a demand for low-carb and reduced-sugar variants of bread, cakes, and pastries.
- Bakery ingredients, essential food additives that enhance freshness, softness, flavor, and shelf life while boosting protein content, are anticipated to see heightened demand, thanks to the burgeoning frozen baked goods industry. The allure of frozen bakery products lies in their convenience, swift preparation, easy accessibility, and cost-effectiveness.
- Bread, a fundamental bakery item, propels frozen bakery suppliers to broaden their regional reach. This expansion is bolstered by the product's availability, user-friendliness, variety, and quality demand. The frozen bakery market's growth reflects the evolving lifestyle of the Asian populace, valuing the convenience of reduced baking and cooking times.
- Moreover, Asia-Pacific's pivot towards plant-based baked goods is driven by heightened health, animal welfare, and environmental sustainability concerns. This shift offers a myriad of opportunities for the baking sector.
- Data from Agriculture and Agri-Food Canada indicates that in 2022, China's retail sales of baked goods hovered around USD 38.1 billion, with projections suggesting a climb to approximately USD 53.98 billion by 2027.
- As the consumer base expands and product offerings diversify, manufacturers are leaning towards innovative packaging solutions, such as modified atmosphere packaging (MAP) and resealable options, to uphold freshness and extend shelf life.
Baked Goods Packaging Industry Overview
The market is fragmented, with the substantial presence of numerous players. Packman Packaging Private Limited, Mondi Plc, Amcor Group, ePac Holdings, LLC, and others are key players in the baked goods packaging market. Global companies have been actively involved in food service channels to provide various baked goods packaging products in ready-to-bake and ready-to-prove forms, easing the making of the final product. Advanced distribution networks and manufacturing expertise give manufacturers an upper edge in expanding their range of products worldwide.
Baked Goods Packaging Market Leaders
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Huhtamaki Oyj
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ePac Holdings, LLC
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Packman Packaging Private Limited
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Smurfit Kappa Group
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Mondi Plc
*Disclaimer: Major Players sorted in no particular order
Baked Goods Packaging Market News
- September 2024: Cooper Street, a snack brand specializing in healthier treats, has introduced new packaging designs. This change aims to strengthen the brand's visibility in stores and attract more health-conscious consumers.
- April 2024: Westpak has introduced HeatWave packaging, designed to enhance heat retention for delivery and takeaway pizzas by more than 20%. The company reports that HeatWave is a liner sheet that fits into standard cardboard pizza boxes.
- January 2024: Bakery Packaging Boxes, a large-scale custom packaging company based in the United States, has introduced eco-friendly cardboard packaging to address plastic pollution concerns. This new product line allows customers and retailers to choose their designs, incorporating high-quality lamination, spot UV printing, and 3D printing technologies.
Baked Goods Packaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Consumption of Bakery Products
5.1.2 Rising Demand for Convenience Foods
5.2 Market Challenges
5.2.1 High Price of Raw Materials
6. MARKET SEGEMENTATION
6.1 By Material Type
6.1.1 Plastic
6.1.2 Paper
6.2 By Packaging Type
6.2.1 Flexible
6.2.2 Rigid
6.3 By Application
6.3.1 Cakes
6.3.2 Pies
6.3.3 Pastries
6.3.4 Bread
6.3.5 Cookies and Crackers
6.3.6 Other Applications
6.4 By Geography
6.4.1 North America
6.4.2 Asia
6.4.3 Australia and New Zealand
6.4.4 Europe
6.4.5 Latin America
6.4.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Mondi Plc
7.1.2 Huhtamaki Oyj
7.1.3 ePac Holdings, LLC
7.1.4 Packman Packaging Private Limited
7.1.5 Smurfit Kappa Group
7.1.6 International Paper Company
7.1.7 Berry Global Inc.
7.1.8 Reynolds Group Holdings
7.1.9 Amcor Group
7.1.10 C-P Flexible Packaging
- *List Not Exhaustive
8. INVESTMENT ANLAYSIS
9. FUTURE OF THE MARKET
Baked Goods Packaging Industry Segmentation
Baked goods packaging serves two primary purposes: preserving product freshness and facilitating easy transportation. Given bread's relatively short consumption timeframe, various materials, including paper, bags, cloth wraps, and boxes, are suitable for these purposes. This study analyzes market demand by tracking revenue generated from packaging designed for baked goods.
The Baked Goods Packaging Market is Segmented by Material Type (Plastic, Paper), Packaging Type (Flexible, Rigid), Application (Cakes, Pies, Pastries, Bread, Cookies and Crackers, Other Applications), Geography (North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.
Baked Goods Packaging Market Research Faqs
How big is the Baked Goods Packaging Market?
The Baked Goods Packaging Market size is expected to reach USD 4.44 billion in 2024 and grow at a CAGR of 4.80% to reach USD 5.62 billion by 2029.
What is the current Baked Goods Packaging Market size?
In 2024, the Baked Goods Packaging Market size is expected to reach USD 4.44 billion.
Who are the key players in Baked Goods Packaging Market?
Huhtamaki Oyj, ePac Holdings, LLC, Packman Packaging Private Limited, Smurfit Kappa Group and Mondi Plc are the major companies operating in the Baked Goods Packaging Market.
Which is the fastest growing region in Baked Goods Packaging Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Baked Goods Packaging Market?
In 2024, the North America accounts for the largest market share in Baked Goods Packaging Market.
What years does this Baked Goods Packaging Market cover, and what was the market size in 2023?
In 2023, the Baked Goods Packaging Market size was estimated at USD 4.23 billion. The report covers the Baked Goods Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Baked Goods Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Baked Goods Packaging Industry Report
Statistics for the 2024 Baked Goods Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Baked Goods Packaging analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
