Bakery goods are one of the most attractive and profitable sub segment of staple foods market. These products are highly rich in calories and provide some of the essential nutrients which are associated with a healthy profile and therefore considered as one of the major functional food. With the increasing passion for healthy life amongst the populace, the demand for snacks and ready to eat foods like buns, sandwiches and pastries has been surging at a rapid pace, and so thus the revenues of the global baked goods market.
On the basis of ingredients used and shelf life, baked goods are broadly classified into breads, cakes and pastries. In order to emerge as a global leader, the crucial strategies adopted by the key players include increasing advertising & promotion expenses to uphold the goodwill & development of leading bakery products and strengthening of product portfolio.
The U.S. emerged as a major revenue contributing region due to increased confectionery items production in Alabama, Arkansas, Florida and Georgia. The global baked goods market is expected to grow with increasing youth population, escalating hispanic population in the U.S., mounting e-commerce retail sales and continuous developments in bakery based products. Key trends and developments of this market includes technological advancements, innovation in packaging solutions, consumers prioritizing convenience foods, high demand for gluten-free bread products and rising preference for tortilla chips by the U.S. populace. However, there are some factors which can hinder growth of the market including stringent government regulations and slow inventory turnover in developing economies.
The report “Global Baked Goods Market: Industry Analysis & Outlook (2018-2022)” by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers, key tends & developments and challenges of the market, covering the along with the global market. The report profiles the key players of the market including Grupo Bimbo, S.A.B. de C.V., Yamazaki Baking Co., Ltd., Flowers Foods, Inc. and Kellogg Company.