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Report Overview
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.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The increasing focus on natural nutrition and healthy living has led to a surge in demand for whole wheat, low-calorie, and additive-free bakery products. Consumers are actively seeking healthier options, such as whole grain breads and gluten-free pastries, reflecting a shift towards more nutritious eating habits.
- In 2019, retail bakeries in the U.S. generated approximately USD 3 billion in sales, while commercial bakeries significantly outperformed them with sales exceeding USD 31 billion. This disparity underscores the dominance of commercial bakeries in the overall bakery products market.
- The most widely consumed bakery products include cakes, brownies, cupcakes, croissants, cookies, crackers, and rolls. These items cater to diverse consumer preferences and are integral to the bakery market, with cupcakes gaining popularity for their portion control and premium pricing compared to traditional cakes.
Competitive Landscape
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.
Key Industry Players
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 beverage company renowned for its extensive portfolio of products including dairy, coffee, confectionery, bottled water, breakfast cereals, and pet foods.
Britannia Industries Limited, established in 1892 and headquartered in Bangalore, India, is a leading player in the bakery and dairy industry. The company specialises in the manufacture and sale of biscuits, bread, rusk, cakes, and dairy products. Britannia is well-known for its iconic brands like Britannia and Tiger biscuits.
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.
Bakery Products Market Report Snapshots
*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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Key Questions Answered in the Report
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.
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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