How Has the Bakery & Confectionary Market Evolved Historically and What is its Current Size
The bakery & confectionary market has seen considerable growth due to a variety of factors.
• There has been a robust growth in the size of the bakery and confectionery market in the past few years, with projections indicating an increase from $953.54 billion in 2024 to $1006.63 billion in 2025. This implies a compound annual growth rate (CAGR) of 5.6%.
Factors contributing to this impressive growth period include the introduction of healthier products, handmade and premium treats, the blend of international flavors, functional ingredients, as well as interactive and immersive products.
What are the Market Size and Expected Growth Rates for the Bakery & Confectionary Market?
The bakery & confectionary market is expected to maintain its strong growth trajectory in upcoming years.
• The projected robust increase in the size of the bakery & confectionery market in the coming years is set to reach $1247.02 billion by 2029, with a 5.5% compound annual growth rate (CAGR). The fluctuating consumer lifestyles, cultural and ethnic influences, festivities and celebrations, merchandising and retailing tactics, and globalization introducing cross-cultural flavors have all contributed to the growth forecasted for this period. The main trends to watch out for during this forecast period include digitalization and online orders, novel packaging strategies, the fusion of global flavors, customization and personalization tendencies, along with advancements in baking methods.
What Main Forces Are Fueling Expansion In The Bakery & Confectionary Market?
As the global population continues to expand, anticipated to reach 10 billion by 2050, the demand for food will grow proportionately. This necessitates an escalation in the supply of bakery and confectionery materials and trading volumes to accommodate the swelling populace. Consequently, firms operating within this sector are projected to capitalize on the burgeoning demand for bakery and confectionery goods driven by the population increase within the predicted timeline.
What Are The Key Segments Within The Global Bakery & Confectionary Market?
The bakery & confectionary market covered in this report is segmented –
1) By Type: Breakfast Cereal, Sugar And Confectionery Products, Bread And Bakery Products, Cookie, Cracker, Pasta, And Tortilla
2) By Price Point: Economy, Mid-Range, Luxury
3) By Distribution Channel: Super markets Or Hyper markets, Convenience Stores, E-Commerce, Other Distribution Channels
Subsegments:
1) By Breakfast Cereal: Instant Cereals, Granola and Muesli, Flaked Cereals, Puffed Cereals
2) By Sugar And Confectionery Products: Chocolates, Hard Candy, Gummy Candies, Marshmallows, Licorice
3) By Bread And Bakery Products: Sliced Bread, Artisan Bread, Rolls And Buns, Flatbreads
4) By Cookies, Crackers, Pasta, And Tortilla: Cookies (Chocolate Chip, Oatmeal), Crackers (Savory, Whole Grain), Fresh Pasta, Dried Pasta, Tortillas (Corn, Flour)
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How Are New Trends Impacting The Size Of The Bakery & Confectionary Market?
The trend of incorporating natural flavors in confectionery items is growing among confectionery producers. The evolution of the confectionery market has heavily relied on innovation. The United States Food and Drug Administration defines the term natural flavor or flavoring as the essential oil, essence, or extract, protein hydrolysate, or distillate, or any product derived from roasting, heating, or enzyme breakdown, which includes the flavor components sourced from spices, fruits or their juices, vegetables or their juices, etc. By employing these natural flavors, makers are introducing new and exclusive taste blends in their offerings. For example, companies like Zaabar, Rococo Chocolates, and Rozsavolgyi Csokolade produce chocolate bars flavored with cardamom.
Who Are the Key Players in the Bakery & Confectionary Market?
Major companies operating in the bakery & confectionary market include:
• Nestle S.A.
• PepsiCo Inc.
• Mars Inc.
• Mondelez International
• Roshen Confectionery Corp.
• The Kraft Heinz Company
• Wm Morrison Supermarkets plc
• Valeo Foods Group
• Grupo Bimbo S.A.B. de C.V.
• General Mills Inc.
• Ferrero Group
• Kellanova
• Lotte Corp.
• The Hershey Company
• Yamazaki Baking Co. Ltd.
• Barry Callebaut AG
• The J.M. Smucker Company
• Flowers Foods Inc.
• Bimbo Bakeries USA
• The Hain Celestial Group Inc.
• Morinaga & Co.
• Orion Corp.
• Hostess Brands Inc.
• Bourbon Corp.
• Lindt & Sprüngli AG
• PIM Brands Inc.
• Crown Confectionery Co.
What are the Regional Insights into the Bakery & Confectionary Market?
Asia-Pacific was the largest region in the bakery and confectionary market in 2024. Western Europe was the second-largest region in the bakery and confectionary market. The regions covered in the bakery & confectionary market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
