Bakery Products Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 621.58 Billion |
| Market Size (2029) | USD 810.45 Billion |
| CAGR (2024 - 2029) | 5.45 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Bakery Products Market Analysis
The Bakery Products Market size is estimated at USD 621.58 billion in 2024, and is expected to reach USD 810.45 billion by 2029, at a CAGR of 5.45% during the forecast period (2024-2029).
- Growing preference toward convenient foods, the rising ex-pat population, and changing lifestyles are escalating the demand for bakery products globally. A wide range of bakery products are being sold in the market, and the various innovations in the bakery products range suiting the demand of different segments of consumers are driving the market studied. For instance, bakery products like biscuits are being innovated and specifically produced to meet consumers' changing lifestyles and demands.
- Furthermore, bakery products (especially bread) have been a staple diet for people worldwide for centuries. The convenience, accessibility, and nutrition profile associated with them are the significant factors that have sustained these products in the modern market. Additionally, the rising trends of “natural nutrition,” “healthy living,” and “organic products” have significantly increased the demand for whole wheat, light (low calorie), natural, and additive-free bakery products. Furthermore, the demand for healthy food drives the need for whole grain, gluten-free, and multigrain bakery products. Therefore, manufacturers capitalize on customers' demand to increase their market share. For instance, in February 2022, Dr Schär UK Ltd., a gluten-free manufacturer, announced the acquisition of Glasgow-based bakery GDR Food Technology Ltd., t/a Just: Gluten Free Bakery. GDR specializes in gluten-free baked goods such as bread, rolls, teacakes, and flatbread. These factors are expected to boost the growth of this market over the forecast period.
Bakery Products Market Trends
Surge in Demand for 'Free-from' Food Products
- People with celiac disease and the general health-conscious population prefer free-from-food products (mainly gluten-free). The demand for gluten-free products arises from the belief that gluten-free and sugar-free edibles help overcome problems related to bloating, indigestion, obesity, diabetes, etc. Thus, bakery products, which claim to be fat-, sugar-, and gluten-free, are gaining popularity among health-conscious consumers.
- Additionally, celiac disease, sometimes called celiac sprue or gluten-sensitive enteropathy, is an immune reaction to eating gluten, a protein found in wheat, barley, and rye, used in making various bakery products. If one has celiac disease, eating gluten triggers an immune response in the small intestine.
- According to the Celiac Disease Foundation, in 2021, around 1 in 100 people worldwide were affected with celiac disease. Similarly, according to Beyond Celiac, in 2021, an estimated 1 in 133 Americans, or about 1% of the population, had celiac disease. Hence, this factor also drives the demand for gluten-free products.
- Furthermore, consumers prefer to consume natural, vegan, and free from artificial additives products, which has led to the launch of various free-from products globally. For instance, in May 2022, the United Kingdom-based natural confectionery company Prodigy introduced the "Phenomenons" line of plant-based chocolate biscuits. The plant-based biscuits are wheat-free and contain half the sugar of a standard chocolate biscuit. It also contains prebiotic fiber, zero palm oil, and no refined sugars. The biscuits are made in a “thins” format and are available in two variants, namely Prodigy Phenomenoms Chocolate Digestives and Prodigy Phenomenoms Chocolate Oaties.
Europe Dominates the Bakery Market
- Consumers' changing lifestyles induce them to opt for convenient and ready-to-eat food products such as bread, cookies, biscuits, frozen food products, and cakes. The development of new products in the European bakery market continues to be influenced by trends in health and well-being. Customers nowadays are demanding healthier alternatives with additional nutrition and clean-label ingredients.
- The European bakery products market is well-established in terms of the supply chain, product array, distribution channels, and consumer preferences. Innovations and new product developments are increasingly observed in the indulgence categories, like cakes, pastries, and cookies. The demand for bread containing fiber, whole grain, gluten-free bakery products, etc., supports the market growth.
- For instance, in April 2022, Warburtons, a United Kingdom bakery company, announced the debut of a new range of sliced loaves called Seeds & Grains, available in recyclable paper packaging. Big 21 contains 21 varieties of seeds and grains; Plant Power, a blend of pulses, grains, and seeds; and Make It Grain, which has Maris Otter barley malt grain, are the three new 700g loaves. The loaves are made entirely of wholemeal flour, are high in fiber and protein, and are low in saturated fat and sugar.
Bakery Products Industry Overview
The global bakery products market is highly competitive, particularly with the significant presence of numerous global and regional players. Finsbury Food Group Plc, Mondelez International, General Mills Inc., Associated British Foods Plc, and Grupo Bimbo are leading market players. The players in the market adopt strategies like acquisitions and expansions to penetrate the market. For instance, in January 2023, Mondelez India launched a new Cadbury Choco Bakes Choc Chip Cookies by expanding into the choco-chip cookie space.
Bakery Products Market Leaders
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Finsbury Food Group Plc
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Associated British Foods plc
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Grupo Bimbo, S.A.B. de C.V.
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General Mills, Inc.
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Mondelēz International, Inc.
*Disclaimer: Major Players sorted in no particular order
Bakery Products Market News
- February 2023: Hostess Brands Inc. unveiled Hostess Kazbras, a novel snack cake that blends layers of cake, cream, candy crunch, and caramel, offering consumers a unique candy-bar-inspired treat.
- January 2023: Sara Lee, a brand under Bimbo Bakeries USA, introduced a new white bread infused with vegetables. Each loaf, fortified with vitamins A, D, and E, contains the nutritional equivalent of one cup of veggies, aligning with the company's commitment to healthier bread options.
- January 2023: The Campbell Soup Company announced plans to centralize its snack offices from Charlotte, North Carolina, and Norwalk, Connecticut, into its Camden headquarters. To accommodate this consolidation, the company intends to invest over USD 50 million in upgrading its Camden facilities over the next three years, leveraging the site's refurbishment for its revamped offices.
Bakery Products Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Surge in Demand for 'Free-from' Food Products
4.1.2 Demand For Convenient And Healthy On-the-go Snacking Options
4.2 Market Restraints
4.2.1 Health Risk Associated with Certain Ingredients
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Cakes and Pastries
5.1.2 Biscuits
5.1.3 Bread
5.1.4 Morning Goods
5.1.5 Other Product Types
5.2 By Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience/Grocery Stores
5.2.3 Speciality Stores
5.2.4 Online Retail Stores
5.2.5 Other Distribution Channels
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 Germany
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Finsbury Food Group Plc
6.3.2 Grupo Bimbo SAB de CV
6.3.3 Associated British Foods Plc
6.3.4 Mondelēz International Inc.
6.3.5 General Mills Inc.
6.3.6 Kellogg Company
6.3.7 Britannia Industries Ltd
6.3.8 Walker's Shortbread Ltd
6.3.9 Yıldız Holding
6.3.10 McKee Foods Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Bakery Products Industry Segmentation
Bakery products are prepared from flour or meal derived from grains and are available in a wide range.
The global bakery products market is segmented based on product type, distribution channel, and geography. The market has been segmented based on product type into cakes and pastries, biscui ts, bread, morning goods, and other product types. Based on the distribution channel, the market has been segmented into hypermarkets/supermarkets, convenience/grocery stores, specialty stores, online retail stores, and other distribution channels. Finally, based on geography, the market has been segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
For each segment, the market sizing and forecasts have been done based on value (in USD).
| By Product Type | |
| Cakes and Pastries | |
| Biscuits | |
| Bread | |
| Morning Goods | |
| Other Product Types |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience/Grocery Stores | |
| Speciality Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| By Geography | |||||||||
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Bakery Products Market Research Faqs
How big is the Bakery Products Market?
The Bakery Products Market size is expected to reach USD 621.58 billion in 2024 and grow at a CAGR of 5.45% to reach USD 810.45 billion by 2029.
What is the current Bakery Products Market size?
In 2024, the Bakery Products Market size is expected to reach USD 621.58 billion.
Who are the key players in Bakery Products Market?
Finsbury Food Group Plc, Associated British Foods plc, Grupo Bimbo, S.A.B. de C.V., General Mills, Inc. and Mondelēz International, Inc. are the major companies operating in the Bakery Products Market.
Which is the fastest growing region in Bakery Products Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Bakery Products Market?
In 2024, the Europe accounts for the largest market share in Bakery Products Market.
What years does this Bakery Products Market cover, and what was the market size in 2023?
In 2023, the Bakery Products Market size was estimated at USD 587.70 billion. The report covers the Bakery Products Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bakery Products Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the major factors driving the Bakery Products Market?
The major factors driving the Bakery Products Market are a) Expansion of online grocery shopping and convenience stores increases access to bakery products b) Demand for bakery products made with healthier ingredients, whole grains, and sugar alternatives
Bakery Products Industry Report
The global bakery products market is experiencing significant growth, driven by changing consumer preferences for convenient, ready-to-eat, and healthier food options. This market report covers a wide range of products, from traditional bread and rolls to niche gluten-free and whole-grain products, catering to all dietary needs. The market size is expanding as there is a surge in demand for 'free-from' and natural food items, reflecting a shift towards organic and healthy living.
Supermarkets and hypermarkets dominate the distribution channels, while online retail is emerging as a pivotal channel, widening access to an array of bakery innovations like natural ingredient biscuits and uniquely flavored offerings. The industry trends indicate a dynamic nature, with manufacturers innovating with clean-label, gluten-free products to captivate a broader audience. Significant trends such as the rising demand for organic products, particularly in Europe, underscore the industry's evolving landscape.
Industry analysis reveals that staying ahead of these trends allows manufacturers to meet the diverse and growing demands of consumers. The market research indicates that the industry's growth rate is robust, with a positive industry outlook. The market forecast and market data suggest continued expansion, driven by consumer demand for healthier options. The industry statistics and market segmentation provide insights into the market leaders and their strategies.
For those seeking more in-depth industry information, Mordor Intelligence™ offers comprehensive industry reports, including industry size, market value, market overview, market review, and market predictions. Interested parties can access a sample report PDF, which offers detailed market analysis, market forecast, and market growth insights. This report example serves as a valuable resource for understanding the market trends and the competitive landscape.
Research companies focusing on the bakery industry can benefit from the detailed industry research and industry sales data provided. The market outlook and industry trends highlight the importance of innovation and adaptation to consumer preferences, ensuring sustained market growth and industry success.
