The global bakery products market value reached around USD 513.17 Billion in 2023 due to the rising demand for convenience foods, as busy lifestyles lead consumers to favour ready-to-eat options like pre-packaged sandwiches and pastries. The industry is expected to grow at a CAGR of 6.70% during the forecast period of 2024-2032 to attain a value of USD 919.90 Billion by 2032. The growth of e-commerce platforms further allows consumers to easily purchase a wide range of bakery items online, from artisanal breads to gourmet cookies, which is also fuelling market expansion.
Base Year
Historical Year
Forecast Year
Value in USD Billion
2024-2032
Bakery Products Market Outlook
*this image is indicative*
| Global Bakery Products Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 513.17 |
| Market Size 2032 | USD Billion | 919.9 |
| CAGR 2018-2023 | USD Billion | XX% |
| CAGR 2024-2032 | USD Billion | 6.7% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 8.7% |
| CAGR 2024-2032 - Market by Country | India | 10.4% |
| CAGR 2024-2032 - Market by Country | Canada | 7.8% |
| CAGR 2024-2032 - Market by Distribution Channel | Online | 8.4% |
| Market Share by Country | China | 15.9% |
| Market Share by Country 2023 | China | 15.9% |
The market is driven by inflating disposable income of consumers in emerging nations. Moreover, the increasing demand from Tier 1 cities where customers are inclined towards western cuisines, including baked goods is also accelerating the bakery products market expansion. For instance, China's disposable income has increased gradually over the past ten years. In nominal terms, China's per capita disposable income increased by 6.3 percent annually to 39,218 yuan (or around USD 5,511) in 2023. In other words, the per capita disposable income in urban areas increased to 51,821 yuan, or 5.1% in nominal terms and 4.8% in real terms, while the corresponding figure in rural regions increased to 21,691 yuan, or 7.7% in nominal terms and 7.6% in real terms.
The rising demand for ready-to-eat and convenience foods due to hectic lifestyles is another major driver for the bakery products market growth. Consumers are increasingly seeking bakery items that are fresh, have a long shelf life, and look and taste appealing even after being stored for some time. The escalating per-capita income in developing nations and the increasing adoption of western diets in Asia Pacific countries are poised to further drive the market.
The rising demand for frozen bakery products owing to their convenience and prolonged shelf life is further supporting the market. Furthermore, the expansion of online bakery platforms has provided a significant boost to the growth of the market. Over the forecast period, the demand for diversified products such as organic and gluten-free products is expected to surge owing to evolving consumer preferences, encouraging manufacturers to develop innovative bakery products, thus aiding the market development.
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Rising popularity of artisanal bread varieties, expansion of convenience stores, emergence of plant-based options and gluten-free bakery items are the key trends propelling the market growth.
Consumers have increasingly turned to online platforms for their daily essentials, including bakery products. Hence, the bakery products market is witnessing a significant shift towards e-commerce, which is driving diversified product sales with unique flavours and aromas. Sales of bakery products have been boosted by services like Amazon Fresh, Instacart, and regional online grocery stores. In addition to bread and pastries, consumers are becoming more interested in specialty and artisanal goods, which are typically more difficult to locate in neighborhood brick-and-mortar stores. According to a McKinsey & Company poll from 2021, around 25% of consumers in North America and Europe are making more frequent purchases of bakery products online. The survey also showed that the primary drivers of online bakery item purchases among these consumers, as reported by 60% of them, were time- and convenience-saving factors. Vegan bakery items are becoming more and more popular due to the worldwide trend toward plant-based diets, and they are primarily offered for sale online. Brands like "Vegan Treats" in the U.S. and "Livia's Kitchen" in the UK have experienced rapid growth in e-commerce sales as consumers search for plant-based alternatives to traditional baked goods.
Consumers are increasingly seeking unique and authentic bread experiences, leading to the popularity of traditional and artisanal bread varieties. Customary bread varieties such as baguettes, ciabatta, and naan bread have become internationally renowned and are currently extensively accessible in numerous markets. Traditional bread-making methods have been kept for years in countries like Germany, France, and Italy, and customers are increasingly seeking for these genuine, handcrafted goods. For instance, classic bread kinds like pumpernickel and Vollkornbrot (whole grain bread), which are well-known in Germany for their vast diversity of bread types, are experiencing a resurgence in popularity. Because people recognize the skill that goes into making them, breads like Pane di Altamura, a durum wheat bread from the Puglia area, are becoming more and more popular in Italy.
The rapid expansion of convenience stores in semi-urban areas is boosting bakery products market growth, driven by the increasing demand for nutritious bakery items among the working-class population. Convenience stores have rapidly expanded throughout Asia-Pacific, especially in nations like China, Japan, and South Korea. Data from the Japan Franchise Association (JFA) indicates that there were over 55,000 convenience stores in Japan in 2023, with well-known chains like 7-Eleven, Lawson, and FamilyMart still growing. Comparably, chains of convenience stores have flourished in China, where there will be over 170,000 locations by 2022—a 10% rise from the year before. Growing consumer demand for freshly baked and ready-to-eat (RTE) baked goods is one of the main factors propelling the bakery products market's success in convenience stores. More and more customers are searching for bakery goods including sandwiches, doughnuts, croissants, and muffins that they can have on the go. For instance, 7-Eleven has concentrated on growing its selection of fresh foods, especially fresh baked goods, throughout the world. The company has capitalized on consumer desires for freshly cooked foods by introducing a comprehensive variety of pastries, sandwiches, and onigiri (rice balls) in Japan.
Consumers are increasingly seeking healthier and more diverse bread options, leading to a product diversification. Manufacturers are introducing new flavours, textures, incorporating ancient grains, seeds, and herbs into bread recipes, as well as developing gluten-free and low-carb bread options. A 2019 study from The University of Oxford found that adopting a plant-based diet might cut a person's dietary carbon footprint by up to 73%. This is in line with customers' growing desire for plant-based baked goods as they explore for more environmentally friendly eating options. U.S. retail sales of plant-based foods increased by double digits in 2020, reaching 27% and bringing the overall market value of plant-based products to $7 billion, according to data released today by the Plant Based Foods Association (PBFA) and The Good Food Institute (GFI). Plant-based meat is now purchased by 18% of American households, up from 14% in 2019. According to a 2021 report from The New York Times, major brands like General Mills and King Arthur Baking Company have expanded their gluten-free product lines to meet growing consumer demand, including gluten-free flours, mixes, and ready-made baked goods.
The bakery industry is witnessing a wave of innovation, driven by evolving consumer preferences and creative culinary approaches. Bakeries are increasingly exploring bold flavour combinations, merging sweet and savoury elements. Popular trends include "swicy" flavours—sweet and spicy fusions—like chocolate cookies topped with miso buttercream, and alcoholic-infused treats such as Moscow Mule coffee cakes. Exotic fruit flavours like pomegranate, watermelon, and passion fruit are also becoming mainstream, appealing to consumers seeking new taste experiences. Other innovations include the development of "Crookie," a hybrid of a croissant and a cookie. This bakery product gained popularity on TikTok.
Moreover, sustainability practices are significantly influencing the bakery products market. Buns from Home use surplus dough to create 35% of its menu items, effectively reducing food waste. Bread 41 has implemented a Move to Zero initiative, including a biodigester for organic waste and eliminating single-use cups, preventing over 34,000 cups from landfills in 2023. GAIL's Bakery has adopted bio-polymer lighting to reduce CO2 emissions. Additionally, bakeries are sourcing local and organic ingredients, which reduces transportation emissions.
Product innovation, strategic alliances, and effective branding and marketing strategies by key players are other factors propelling the growth of this market. The growing popularity of specialised bakery products like gluten-free, high-fiber, and trans-fat-free items in regions like Europe is also contributing to bakery products market development. One significant strategic relationship in 2023 was that of Perfect Snacks, a business well-known for its chilled protein bars, and Mondelēz International. Through this partnership, Mondelez is able to expand into the refrigerated baking market, which is growing in popularity because of its fresh and healthful stance and diversify its range of bakery products.
Furthermore, to improve its sustainable standards, Grupo Bimbo, one of the biggest baking firms in the world, teamed up with Danish engineering firm Danfoss in May 2023. With an emphasis on lowering emissions and energy consumption in the baking industry, the two businesses are aiming to increase the energy efficiency of Grupo Bimbo's production processes.
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The EMR’s report titled “Bakery Products Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
Market Breakup by Distribution Channel
Market Breakup by Region
Market Analysis by Product Type
Bread is a staple food and holds the primary share in the baking industry, though its dominance is being challenged by the rapid growth of other bakery products like pastries and doughnuts. Cakes and pastries are experiencing rapid growth, driven by the increasing consumer demand for unique and indulgent bakery items.
The biscuits segment is a major component of the bakery products market, and it includes cream biscuits, glucose biscuits, Marie biscuits, non-salt cracker biscuits, salt cracker biscuits, and milk biscuits. Rusks are another product type within the market and can be found in artisanal bakeries, in-store bakeries, and packaged formats. Rusks are a type of twice-baked bread that is popular in many regions and is commonly consumed with hot beverages, like tea.
Market Analysis by Distribution Channel
The supermarkets and hypermarkets segment dominates the global bakery products market they provide a wide variety of bakery products, ranging from fresh bread to packaged pastries. Their extensive reach, diverse product offerings, promotional capabilities, and one-stop shopping experience make them a prominent player in the bakery product distribution industry. Their large size allows them to offer special deals and discounts, further driving consumer preference.
As per bakery products market analysis, the artisanal bakeries cater to consumers seeking unique, premium, and freshly baked items, contributing to the overall growth of the market. Such bakeries make high-quality and handcrafted baked goods using traditional methods. Artisanal bakeries are particularly popular in regions like Europe, where there is a strong demand for authentic and locally sourced bakery products.
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Europe Bakery Products Market Analysis
Europe currently represents the largest bakery products market and within Europe, Germany, Italy, and France hold significant positions. European bakeries that represent the region's rich bakery legacy and variety of offerings include Paul in France, Le Pain Quotidien in Belgium, and Gail's Artisan Bakery in the UK. Traditional bakery goods like pretzels and rye bread are mainstays in Germany, one of the world's biggest bread consumers. Germany's Federal Statistical Office stated in 2022 that while the country's bread consumption has not changed, consumers' interest in wholegrain, organic, and sourdough loaves is rising. Furthermore, it was predicted that Germany's annual per capita bread consumption was 82 kg, ranking among the highest globally. The market for baked goods has expanded in Italy as well, with a focus on classic breads like ciabatta and focaccia. Wholegrain and spelt breads, on the other hand, are growing more popular as they are healthier alternatives.
| CAGR 2024-2032 - Market by | Country |
| India | 10.4% |
| China | 8.3% |
| Canada | 7.8% |
| USA | 6.8% |
| Australia | 5.9% |
| Japan | 5.2% |
| UK | XX% |
| Germany | XX% |
| France | XX% |
| Italy | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
North America Bakery Products Market Trends
The North American bakery products market value is poised for significant growth, with iconic brands like Sara Lee, Pepperidge Farm, and Entenmann's leading the way in the United States. In North America, the demand for artisanal baked goods, gluten-free options, and healthier options is fueling competition and innovation among bakery companies. Large corporations, like Hostess Brands and Grupo Bimbo USA, are diversifying their product lines to offer healthier options, while small, artisanal bakeries are still doing well in urban areas. The demand for baked goods with less sugar and preservatives has increased because half of all Americans say they actively strive to eat healthily.
Asia Pacific Bakery Products Market Insights
Bakeries such as Theobroma in India, Patisserie Tomoko in Japan, and BreadTalk in Singapore demonstrate the rising demand for baked goods in the Asia Pacific region. These bakeries create distinctive baked delicacies by fusing traditional Asian ingredients with Western influences. Bread products are getting more and more popular in China, especially in the country's major cities like Shanghai, Beijing, and Guangzhou. Major cities are seeing a rapid expansion of Western-style bakeries, such BreadTalk and Paris Baguette, as they meet the growing demand for sourdough bread, croissants, and pastries. While cakes and cookies are still quite popular in India, artisan breads and baked goods in the western style are becoming more and more popular in Tier 1 cities like Bangalore, Delhi, and Mumbai, aiding the bakery products industry growth. Growing health consciousness among Indian customers is attracting them more and more to wholegrain and gluten-free products. In response to consumer demand for healthy baked goods, Britannia Industries, one of the biggest bakeries in India, introduced a new range of wholegrain breads and multigrain biscuits in 2023.
Latin America Bakery Products Market Analysis
Key markets in the region include Brazil, Mexico, and Argentina, where there is a high demand for bread, cakes, and pastries. While classic bakery mainstays like pão francês (French bread rolls) are still popular in Brazil, wholegrain and gluten-free products are becoming more and more in demand. Mexican sweet bread, conchas, and Mexican white bread, bolillo, are classic favorites in the country. On the other hand, the specialty baking goods sector is expanding quickly. The largest bakery in Mexico, Grupo Bimbo, introduced a range of gluten-free breads in 2022 in response to consumer demand for healthier options.
Market players are focused on product innovation, strategic alliances, and effective branding and marketing strategies to stay ahead of the competition. Companies in the market compete based on various factors such as product innovation, pricing, quality, brand reputation, distribution channels, and responsiveness to consumer trends like health consciousness and sustainability.
Associated British Foods Plc was established in 1935 and is based in London, United Kingdom. The company operates in various sectors such as grocery, agriculture, ingredients, and retail. It is a prominent player in the food production and retail industry, offering a wide range of products and services.
Nestle S.A., founded in 1866, has its headquarters in Switzerland, United Kingdom. It is a global food and bev...
Britannia Industries Limited, established in 1892 and headquartered in Bangalore, India, is a leading player i...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the global bakery products market report include Grupo Bimbo, S.A.B. de C.V., Finsbury Food Group Limited, General Mills Inc., McKee Foods Corporation, Parle Products Pvt. Limited, ITC Limited, Walkers Shortbread Ltd, Lotus Bakeries NV, Kambly SA, and Annie’s Homegrown, Inc, among others.
Start-ups in the market are developing health-conscious offerings, such as gluten-free, organic, and low-sugar options, with brands like Baked by Melissa introducing plant-based cupcakes for vegan diets. Companies like Ovenly are creating ready-to-eat items like frozen cookie dough that can be baked fresh at home. Furthermore, start-ups are leveraging e-commerce to reach broader audiences. Two of the most successful start-ups in the global bakery products market are Baked by Melissa and Theobroma.
Baked by Melissa, founded in 2008, specialises in mini cupcakes and has achieved remarkable growth. As of 2024, the brand operates 14 locations in the New York City metropolitan area and Boston and has sold over 400 million cupcakes since its establishment. The company has a strong online presence, with over 2.1 million followers on TikTok and 600,000+ on Instagram, reflecting its effective social media strategy. In 2023, a viral recipe for the Green Goddess Salad garnered over 25 million views, significantly boosting brand visibility and engagement. Baked by Melissa's e-commerce platform has seen a 109.4% increase in transactions year-over-year, demonstrating its successful omnichannel strategy.
Theobroma, established in 2004, is a premium bakery and patisserie chain based in Mumbai, India. Known for its high-quality cakes, brownies, and pastries, Theobroma has expanded to over 50 outlets across major cities in India. The brand focuses on artisanal baking techniques and uses premium ingredients, which have earned it a loyal customer base. In 2023, Theobroma launched a new range of vegan desserts that received positive reviews, contributing to a 30% increase in sales that year. The company's focus on quality and innovation has positioned it as a leader in the Indian bakery products market.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is assessed to grow at a CAGR of 6.70% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 919.90 Billion by 2032.
The major drivers of the market include rising disposable incomes, increasing population, new product launches, higher standards of living and shifting lifestyles due to cultural changes, increasing consumption of processed products, the rising demand for low-calorie bakery products, hectic lifestyles, rapid urbanisation, the rise of online bakery platforms, and the rising demand for diversified products like organic and gluten-free products.
The rising product diversification and rapid innovations are expected to be the key trends in the bakery products market.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The bread and rolls segment is the dominant product in the market.
The major distribution channels in the market include supermarkets and hypermarkets, specialty stores, convenience stores, and online, among others.
Key players in the market are Associated British Foods Plc, Nestle S.A., Britannia Industries Limited, Grupo Bimbo, S.A.B. de C.V., Finsbury Food Group Limited, General Mills Inc., McKee Foods Corporation, Parle Products Pvt. Limited, ITC Limited, Walkers Shortbread Ltd, Lotus Bakeries NV, Kambly SA, and Annie’s Homegrown, Inc, among others.
In 2023, the market reached an approximate value of USD 513.17 Billion.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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