The global market for Bakery Products is projected to reach US$573.5 billion by 2024, driven by the surging popularity of healthy, organic and all natural baked goods, and rising consumption of bread and biscuits. Per capita consumption of biscuits is increasing led by the U.K and supported by factors that include availability of a wide array of biscuit flavors to keep consumers’ palate excited; growing interest in biscuits which are healthy and low in sugar such as oats biscuits; image of biscuits as a delicious everyday treat that appeals to consumers of all age groups; launch of indulgent super premium biscuits to compete with traditional after-dinner dessert treats; consumption of biscuits as a social shared treat thanks to the launch of “sharing packs”; and popularity of cookies with melting center which can be eaten either cold or warmed in a microwave. The market is also poised to benefit from innovations in frozen bakery products such as pastries, fruit pies; and launch of thaw-and-serve and bake-off semi baked and unbaked doughnuts, croissants, and rollout of baked goodies packed in new sharing packages that double up as a serving bowl for small gatherings of friends and family. Other noteworthy trends in the market include rising concerns over the health risks posed by gluten consumption and the ensuing demand for gluten-free bakery products and ingredients; rising preference for whole grain based baked foods rich in protein, fiber, vitamin B, antioxidants and trace minerals; rise in emotional eating as a coping strategy for stress in everyday life and the ensuing increased consumption of indulgent, premium, designer baked desserts and sweets; new developments in ingredients including functional additives for bakery foods; and protein fortification of baked goods against the backdrop of growing consumer focus on protein rich diets. Europe represents the largest market worldwide, supported by the strong demand for in-store fresh baked products. Asia-Pacific ranks as the fastest growing market with a CAGR of 5.9% over the analysis period led by factors such as growing population, and shifting consumer appetite away from rice in favor of wheat based foods such as bread largely due to the growing affluence of the emerging class of middle class population and the ensuing preference for convenient packaged baked goodies. Improved transportation and logistics, and expanding retailing network and infrastructure are also helping bakery products, particularly bread achieve greater market penetration and visibility in the region.  

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Company and Industry News & Stories
  • Lantmännen Unibake Acquires Bakery Du Jour in a Move to Increase the Former’s Production Capabilities and Strengthen Presence in the Key Regional Markets
  • Flowers Foods Acquires Canyon Bakehouse in a Bid to Expand Presence in the Growing Gluten-Free Segment
  • Mondelez International Snaps Up Tate’s Bake Shop, a Fast-Growing, Premium Cookie and Baked Goods Brand in New York
  • Campbell Soup Acquires Snyder’s-Lance in a Transaction Valued at US$6.1 billion
  • Tyson Foods to Divest Sara Lee® Frozen Bakery and Van’s® Businesses to Kohlberg & Company

Outlook in Key Market Segments
  • Through 2024, Bread will remain the largest market, followed by Cakes/Pastries.
  • Cakes/Pastries are projected to witness the fastest growth driven by the indulgence trend and introduction of innovative flavors.

Product Definition & Scope
  • Bakery products represent flour-based baked goods that are commonly prepared in an oven. Various methods of baking include addition of premixes, chemicals, and production using specialized industrial machinery. There are different types of bakeries including small artisan bakeries producing one of two baked goods, industrial bakeries producing multiple packaged bakery items, and franchisees that produce bakery products under a recognized brand name. Bakery foods primarily comprise breads (such as buns, rolls, loaf breads, etc.), cakes/pastries (coffee cakes, snack cakes, cheesecakes, etc.), cookies (savory biscuits, sweet biscuits, etc.), muffins, bagels/bialys, sweet rolls, pies, pizza, tortillas, cinnamon rolls, pretzels, doughnuts, and croissants, among others.

Timeline for Analysis
  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

Geographic Markets Analyzed
  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, India, South Korea and Rest of Asia-Pacific), Latin America (Argentina, Brazil, Chile, Colombia, Mexico and Rest of Latin America), and Rest of World

Market Segmentation & Classification
  • Product Segments:
    • Bread, Breakfast Cereals, Cakes/Pastries, Savory Biscuits, Sweet Biscuits, and Other Bakery Products

Major Players
  • Grupo Bimbo, S.A.B. de C.V.
  • Mondelez International, Inc.
  • Yamazaki Baking Co., Ltd.
  • Campbell Soup Company
  • Kellogg Company
  • Yildiz Holding A.S.
  • Lantmännen Unibake
  • Flowers Foods, Inc.

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