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Report Overview
The global bakery products market reached a value of USD 513.17 billion in the year 2023. The bakery products industry is further expected to grow at a CAGR of 6.7% between 2024 and 2032, to reach a value of USD 919.9 billion in 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The trend toward natural nutrition, healthy living, and organic products has boosted the demand for whole wheat, light (low-calorie), natural, and additive-free bakery items.
- In 2019, retail bakeries in the US made around USD 3 billion in sales, while commercial bakeries sold over 10 times more, with USD 31 billion in sales.
- The most popular bakery products include cakes, brownies, cupcakes, croissants, cookies, crackers, and rolls. These items are widely consumed.
Bakery Products Market Share
By Product Type Analysis
Breads and rolls are high in demand as it is a staple food item among households of various regions
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.
By Distribution Channel Analysis
Supermarkets and hypermarkets hold a significant market share due to their extensive reach and diverse product offerings
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.
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 global bakery products market reached a value of USD 513.17 billion in 2023.
The market is expected to grow at a CAGR of 6.7% between 2024 and 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.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 919.9 billion by 2032.
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