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Report Overview
The global bakery products market value reached around USD 547.55 Billion in 2024 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 2025-2034 to attain a value of USD 1047.29 Billion by 2034. 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.
Bakery Products Market Growth
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.
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 2025 and 2034.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 1047.29 Billion by 2034.
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 2024, the market reached an approximate value of USD 547.55 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