New York, United States, Aug. 20, 2024 (GLOBE NEWSWIRE) -- As per the Latest Report by Straits Research, the global bakery product market size was valued at USD 447.9 Billion in 2023. It is projected to reach USD 758.7 Billion by 2032, growing at a CAGR of 6.1% during the forecast period (2024–2032).
There are leading drivers of choosing the freshly baked goods, one of them is freshness. There are developments going on in ingredients and processing methods to improve baking quality as well as new enzymes and leavening agents to improve textures. The enzymes amylases that are used in industrial bread-making improve crumb structure and bread texture and also improves its shelf-life. Glucose oxidase and lipases are used to improve dough strength and asparaginase to reduce acrylamide formation during the baking process.
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Consumer Preferences and Surging Popularity of Healthy Baked Goods
One key advantage that bakery businesses have over other food-centric enterprises is their ability to effectively market their products. Demand for bakery items is influenced by consumer preferences and the choice of grocery stores to either run their own in-store bakeries or purchase from commercial bakeries. The profitability of bakery companies is largely determined by their marketing strategies and operational efficiency. The global bakery industry is being propelled by a strong demand for gluten-free, organic, whole-grain, ancient grain, and additive-free products. Consumers are increasingly seeking healthy, convenient, and nutritious baked goods. Additionally, modern retail channels are offering substantial discounts to attract shoppers.
Innovations and Diversified Products in the Bakery Industry
The bakery market is seeing innovations in frozen products like pastries, fruit pies, semi-baked and unbaked doughnuts, croissants, and baked goods packaged in serving-friendly containers. Brands are incorporating niche ingredients to enhance nutrition, with novel additions like insect protein and cauliflower flour appearing in other food categories. Adding fiber to gluten-free bakery items is a common way to boost nutritional value and improve texture. Products are also diversifying in flavors, ingredients, and taste across categories such as bars, breads, cookies, desserts, muffins, snack cakes, and sweet goods.
Regional Analysis
Germany: Leading the European Bakery Market
Bakery goods are a staple in Europe, with a well-established market for product variety, distribution, and innovation. The sector is evolving due to health concerns, rising incomes, and demand for convenience. Germany leads the European bakery market, holding the largest export share (12%), followed by Canada, France, Italy, and Belgium.
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Competitive Players
- Kellogg Company
- General Mills, Inc.
- Nestle S.A.
- Clif Bar & Company
- PepsiCo, Inc.
- The Naturess Bounty Co.
- Mars Incorporated
- The Simply Good Foods Company
- Kind LLC
- The Hain Celestial Group, Inc.
- Mondelez International, Inc.
- Abbott Laboratories
- Premier Nutrition Corporation
- Post Holdings, Inc.
Market Segmentation
By Type (2020-2032)
- Enzymes
- Flavors
- Colors
- Starch
- Fiber
- Emulsifiers
- Antimicrobials
- Fats
- Dry Baking Mix
- Other
By Product Range (2020-2032)
- Cakes
- Cupcakes
- Dessert Cakes
- Sponge Cakes
- Pastries
- Choux Pastry
- Phyllo Pastry
- Puff Pastry
- Shortcrust Pastry
- Sable Pastry
- Bread and Rolls
- Baguettes
- Loaves
- Rolls
- Burger Buns
- Ciabatta
- Sandwich Slices
- Frozen Bread
- Other
- Cookies
- Molded Cookies
- Drop Cookies
- Bar Cookies
- Rolled
- Pressed
- Refrigerator (Ice-box)
- Sandwich Cookies
- No-bake Cookies
- Other
- Biscuits
- Rolled Biscuits
- Drop Biscuits
- Scones
- Shortcakes
- Other
- Pretzels
- Tortillas
- Coffee and Specialty Drinks
- Catering and Deliveries
By Distribution Channel (2020-2032)
- Direct
- Indirect
- Convenience Store
- Bakery Stores
- Artisanal Bakeries
- Online Retailers
- Hypermarkets/Supermarkets
By Form (2020-2032)
- Organic
- Gluten-free
- Sugar-free
- Low-calories
- Other
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