Thursday, December 8, 2022

Global Bakery Products Market is estimated to reach US$ 235 Bn in 2022 at a CAGR of 4.2%, to attain revenue of US$ 354.6 Bn during the forecast period of 2022-32 | Data by FMI

Last updated Friday, November 11, 2022 05:15 ET , Source: Future Market Insights, Inc.

Newark, United States, 11/11/2022 / Future Market Insights, Inc. /

The global bakery products market is set to witness growth at a CAGR of 4.2% over the forecast period (2022-2032) and top a valuation of US$ 354.6 Mn by 2032.

Bakery products are cooked at a high temperature in the oven or on a hot stove. A massive transformation in baking methods have been noticed with the upgradation of technology by taking over the traditional baking methods.

Increasing consumption of processed food items and shifting consumer preference towards convenient food and beverage products is expected to fuel the market. Alongside, owing to the convenience and prolonged shelf-life offered by the frozen food items is predicted to boost the demand for frozen bakery products in the forthcoming years.

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Changing consumer behaviour have altered their preferences and developed their tastes for varied bakery products. They have started experimenting with new products with different flavours and stuffing. Furthermore, health-conscious consumers are gradually shifting the focus towards low-calorie products.

Busy schedules and hectic timelines have convinced the consumers to switch to convenient and ready-to-eat products such as biscuits and bread and rolls which is likely to positively impact the market. Due to the above-listed factors, the demand for bakery products is prophesied to show impressive growth over the forecast period.

“High demand for gluten-free bakery products across emerging economies, along with increasing preference for international baked products is expected to fuel the growth in the market,” says an FMI analyst.

Key Takeaways:

  • Europe is expected to account for the maximum value share of the global market of about 28% by 2022.
  • By product type, bread and rolls is expected to account for the highest market share in 2022.
  • In case of specialty segment, sales of gluten-free bakery products are expected to gain momentum.
  • Indirect channel is expected to account for a higher market value share than direct channel by 2032.
  • Germany is expected to account for 30% of the Europe bakery products market share over the forecast period.

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Competitive Landscape

Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships, and collaboration gain a competitive edge in the market. For instance:

  • In 2021, Mondelez International (MDLZ) had acquired Chipita S.A. which is a Greek snacking company. Chipita produces and markets savory and sweet snacks.
  • In 2020, ITC’s brand, popularly called as ‘Sunfeast’ had expanded its ‘cake’ category, by introducing its new product named as Sunfeast Caker which is available in three forms, namely Choco Swiss Roll, and Layer Cake, and Trinity.

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global bakery products market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

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The study offers compelling insights based on bakery products market by product type (biscuits, breads and rolls, cakes and pastries, rusks), specialty type (fortified, gluten-free, organic, low calorie, sugar-free), and distribution channel (direct and indirect) across seven (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa) major regions of the world.

About Food & Beverage Division at Future Market Insights

The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.

Explore FMI’s Other Extensive Reports of Food & Beverage:

Bakery Mixes Market Share : Global bakery mixes market demand is anticipated to be valued at US$ 5,912.3 Million in 2022, forecast to grow at a CAGR of 5.3% to be valued at US$ 9,909.2Million from 2022 to 2032

Bakery Ingredients Market Size : The global bakery ingredients market is expected to reach a market valuation of US$ 17.9 Billion by the year 2022 end, accelerating with a CAGR of 6.4% by 2022-2032

Bakery Enzymes Market Forecast : As per Future Market Insights (FMI), the overall bakery enzymes market value is expected to reach US$ 1,452.3 Mn by 2031, rising at a CAGR of 5.1% for 2021-31.

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The post Global Bakery Products Market is estimated to reach US$ 235 Bn in 2022 at a CAGR of 4.2%, to attain revenue of US$ 354.6 Bn during the forecast period of 2022-32 | Data by FMI appeared first on Future Market Insights.

Original Source of the original story >> Global Bakery Products Market is estimated to reach US$ 235 Bn in 2022 at a CAGR of 4.2%, to attain revenue of US$ 354.6 Bn during the forecast period of 2022-32 | Data by FMI

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