Bakery Products Market to 2027 - Insights and Forecast with Impact of COVID-19
Market
Insights
The global
demand and consumption of bakery products is increasing and is expected to
continue to do so. This is primarily due
to increasingly widespread urbanization, rising disposable incomes, and
changing lifestyles which have encouraged consumers to turn toward convenient foods. Rising disposable incomes
have propelled the demand for gourmet products. Additionally, the changing
trends and development of new and unique baked goods recipes have given rise to
various forms of innovative bakery products, thus driving considerable growth.
Market
Research Future (MRFR) has published a comprehensive report which analyzes
relevant bakery
products market segments, regions and strategies used
by key market players to identify trends, restraints and other factors that
affect growth. MRFR's detailed analysis has revealed a CAGR of 5% during the
forecast period of 2016 to 2022.
However,
the increasing health awareness amongst the consumers has resulted in their
shift in preferences of food. The wide variety of options available for consumer
has led to variations in consumers preferences for food products. The shifting
consumption pattern and increasing population of consumer adopting healthy
life-style might refrain the growth of bakery products market. There has been
increasing controversies about less nutrients and spoilage due to microbial
contamination which has declined the consumption of bakery products amongst the
health conscious consumers.
Global
Bakery Products Market - Competitive Analysis
Key
players are focusing on acquisitions to expand their businesses across the
globe. Acquisition has become the major strategy for key players in the last
few years. Business expansions and new product launches are two main factors
which are contributing significantly in order to help the company to increase
their production capacity in order to fulfill increasing demand for various
bakery products.
The key
players profiled in bakery products are Barilla Holding S.p.A. (Italy),
Britannia Industries Limited (India), Grupo Bimbo, S.A.B. de C.V. (Mexico),
Mondelez International, Inc. (U.S.), General Mills, Inc. (U.S.), Dunkin' Donuts
LLC (U.S.), and United Biscuits among many others.
Market
Segmentation
The global
bakery products market has been segmented by type, form, specialty type and by region.
By type,
the market has been segmented into cake
& cheesecake, bread & rolls, doughnuts & muffins, biscuits &
cookies, cupcakes & brownies, pancakes and waffles, pies & tarts,
sandwiches & wraps and others.
By form,
the market has been segmented into fresh,
frozen, dough & batter, instant mixes, and
others.
By specialty type, the market has been segmented
into gluten-free, organic, sugar-free, low calorie, fortified and others.
By region, the market has been segmented into
North America, Europe, Asia Pacific (APAC) and the Rest of the World (RoW).
Regional
Analysis
North
America and Europe have a thriving bakery products market; this is primarily
due to the current prevalence of
consuming baked goods. Many bakery product trends are appropriated worldwide
from these regions. There is also a strong presence of prominent market players here that drive growth.
The Asia Pacific is expected to grow considerably during the forecast period
and has been identified as the fastest
growing geographical segment. A rise in disposable income and the widespread availability of convenient bakery products in this region are facilitating market
growth. Additionally, the region enjoys a
massive consumer population which is increasingly demanding innovative bakery
product options found in developed countries, thus driving growth.
Access Report@ https://www.marketresearchfuture.com/reports/bakery-products-market-1985
Latest Industry News
Canada
Bread Company, a Grupo Bimbo subsidiary has won a consumer-voted award for Best New Bread in Canada. The product in
question - Dempster's 100% whole grain seed lover's bread with Chia was voted
for by over 15,000 consumers. Dempster's bread
does not contain any sugar, added colors
or flavorings and is widely available making the brand a convenient and healthy choice.
Puratos
Group has announced intentions to acquire
PMG Premium Mühlen Gruppe GmbH & Co's Plange Bakery Ingredient Business. An
agreement has been reached and is currently pending approval by German competition authorities. The acquisition will allow Puratos to increase its presence in the German market.
NOTE: Our Team of Researchers are Studying
Covid19 and its Impact on Various Industry Verticals and wherever required we
will be considering Covid19 Footprints for Better Analysis of Market and
Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media
Private Limited),
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New York,
New York 10013,
United States of America
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