Bakery Products- Market Scope
Bakery products are food items that are prepared from dough or batter made from wheat flour, a liquid leaving agent, and some additional ingredients. The bakery products market includes a diverse range of items such as bread, cakes, pastries, cookies, biscuits, and more. Bakery items come in a wide range of sizes, shapes, colours, textures, tastes, and Flavors and can be classified by their formula, pH level, moisture content, or water holding capacity. Consumers are showing a preference for artisanal and specialty bakery products, often associated with premium quality, unique Flavors, and traditional preparation methods.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
Key Companies Profiled | Nestle (Switzerland), Finsbury food limited (United Kingdom), Associated British food Inc (United Kingdom), Grupo Bimbo (Mexico), Mondelez International (United States), Yamazaki baking co, Ltd (Japan), Aryzta AG (Switzerland), Flowers food (United States), General Mills Inc (United States), Allied bakeries (United Kingdom), Monginis (India), Stover and company (United States), Takai bakery co, Ltd (Japan), Barila G (France) and Dunkin donuts LLC (United States) |
CAGR | 4.1% |
Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisition and mergers along with collaboration with companies in other industries to help them in improving sustenance and maintaining their competitive advantages.
Nestle (Switzerland), Finsbury food limited (United Kingdom), Associated British food Inc (United Kingdom), Grupo Bimbo (Mexico), Mondelez International (United States), Yamazaki baking co, Ltd (Japan), Aryzta AG (Switzerland), Flowers food (United States), General Mills Inc (United States), Allied bakeries (United Kingdom), Monginis (India), Stover and company (United States), Takai bakery co, Ltd (Japan), Barila G (France) and Dunkin donuts LLC (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Nikkei Inc (China), Lantmannen unibake (Denmark), Vandemoortele (Belgium), Britannia Industries (India), Pacmoore products (United States) and Blackfriars Bakery (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Bakery Products- market by Type and Region with country level break-up.
On the basis of geography, the market of Bakery Products- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In 2021, Mondelez International Inc. acquired Chipita SA, a multinational baker of packaged pastries and cakes. Among the company’s offerings were croissants, bagels chips, cake bars, biscuits, and spreads, Mondelez intends to increase brand awareness in the region and introduce its products to new countries there and outside.
In January 2022, Nestlé Professional partners with Baked by Rich has launched three new indulgent cookie flavours. The new collection brings together household-flavour favourites and Rich Products' bakery expertise. and In May 2023, Mondelez launched a unique platform called Project Hazelnut featuring limited-edition bakery items infused with hazelnuts. This included Cadbury Dairy Milk hazelnut swirl chocolates, Oreo Thins hazelnut crème cookies, and belVita breakfast biscuits with hazelnut butter. This project catered to the growing popularity of hazelnut Flavors and offered consumers a chance to experience familiar favorites with a twist.
Influencing Trend:
Growing trend toward incorporating functional ingredients into bakery products, with added vitamins, minerals, and superfoods.
Market Growth Drivers:
Growing demand for healthier bakery options, including whole grain and organic products. and Increasing Consumers’ willingness to experiment with diverse and global Flavors
Challenges:
Changing consumer preferences and Maintaining the freshness and quality of bakery products without relying on excessive preservatives can be challenging.
Restraints:
Food safety regulations, labelling requirements, and other compliance standards. and Shortages of skilled labours including bakers and pastry chefs.
Opportunities:
Develop and promote plant based and vegan bakery products.
Key Target Audience
Supplier, Manufacturer, Research organization, Government Regulatory, End-User Industry and Others