The bread and bakery products market has seen substantial growth, rising from $221 billion in 2023 to $234.99 billion in 2024 at a CAGR of 6.3%. This growth in the historic period is attributed to cultural and regional influences, effective marketing and branding strategies, the globalization of food culture, retailing trends and merchandising, as well as economic factors and affordability. Moving into the future, the market is expected to experience strong growth, reaching $296.79 billion in 2028 with a CAGR of 6.0%. Anticipated growth drivers include a focus on healthier alternatives, sustainability practices, culinary fusion, and exotic flavors, as well as the rise of artisanal and specialty bakeries. Key trends in the forecast period encompass sustainable and eco-friendly practices, innovation in sweet and savory combinations, the use of local and seasonal ingredients, the rise of e-commerce and online bakery platforms, and technological innovations in the baking industry.
Major Driver In The Bread And Bakery Products Market
The world's population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for food. Supply for materials used in bread and bakery product manufacturing and trade volumes will have to increase in order to meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for bakery and confectionery products due to the rising population during the forecast period. The bakery and confectionery market size was $340 billion in 2023, and it is expected to reach $490 billion by 2028.
Request A Free Sample Of The Global Bread And Bakery Products Market Report
Bread And Bakery Products Market Competitive Landscape
Walker's Shortbread Ltd., Cargill Inc., Archer Daniels Midland Company, George Weston ltd, Mondelez International Inc., Britannia Industries Ltd., Wm Morrison Supermarkets plc, Associated British Foods plc, Grupo Bimbo, General Mills Inc., Yildiz Holding Inc., Lotte Chemical Corporation, S.A.B. de C.V., Yamazaki Baking Co. Ltd., Flowers Foods Inc., Bimbo Bakeries USA, Barilla Group, Lantmännen, ARYZTA AG, Tate & Lyle plc, Harry-Brot GmbH, Dawn Food Products, Finsbury Food Group Plc, McKee Foods Corporation, CSM Bakery Solutions, Wenner Bread Products Inc., Rich Products & Solutions Pvt. Ltd., Neri's Bread & Bakery Products Inc., Damascus Bakeries Inc., Franz Bakery
Key Bread And Bakery Products Market Trend
Bread and bakery product manufacturers are increasingly relying on social media to market their products. As more consumers share their dining experiences on platforms like Instagram, Pinterest, and Facebook, these manufacturers are creating innovative and artistic bakery products to gain popularity. According to a study by Maru/Matchbox, 69% of millennials take a photo or video of their food before eating.
Get The Full Global Bread And Bakery Products Market Report
Bread And Bakery Products Market Segmentation
The bread and bakery products market covered in this report is segmented –
1) By Type: Bread, Cake And Pastries, Other Bread And Bakery Products
2) By Origin: Whole Wheat Flour, Multi Grain Flour
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
Subsegments Covered: , Cake, Pastries
By Geography:The regions covered in the bread and bakery products market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
Asia-Pacific was the largest region in the bread and bakery products market in 2023.
The Bread And Bakery Products Global Market Report 2024 furnishes information about the global bread and bakery products market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
