Bakery & Confectionary Global Market To Reach Value Of About $1.22 Trillion In 2025
25 Jan, 2021
The bakery and confectionery market consists of sales of bakery and confectionery by entities (organizations, sole traders and partnerships) that produce bakery and confectionery products. The companies in the bakery and confectionery industry process raw materials into bakery and confectionery, package and distribute them through various distribution channels to both individual customers and commercial establishments. Some of the examples of bakery and confectionery products include breakfast cereals, breads, cookies, chocolates, gums, sugar confectionery and others.
Global Bakery & Confectionary Market Size And Drivers:
The global bakery and confectionary market is expected to grow from $887.82 billion in 2020 to $938.97 billion in 2021 at a compound annual growth rate (CAGR) of 5.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.22 trillion in 2025 at a CAGR of 7%. Increase in population creates more demand for food expected to benefit from rising demand for bakery & confectionary products.
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Trends In The Global Bakery & Confectionary Market
Confectionery manufactures are increasingly using natural flavors in confectionery products. Innovation has been key to the development of the confectionery market. According to the United States, Food and Drug Administration the term natural flavor or natural flavoring means the essential oil, oleoresin, essence or extractive, protein hydrolysate, distillate, or any product of roasting, heating or enzymolysis, which contains the flavoring constituents derived from a spice, fruit or fruit juice, vegetable or vegetable juice, etc. Using natural flavors manufacturers are imparting new and unique taste profiles in to their products.
Global Bakery & Confectionary Market Segments:
The global bakery & confectionary market is further segmented based on type, distribution channel and geography.
By Type: Breakfast Cereal, Sugar And Confectionery Products, Bread And Bakery Products, Cookie, Cracker, Pasta, And Tortilla.
By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others.
Subsegments Covered: Oats Breakfast Cereal, Grains Breakfast Cereal, Other Breakfast Cereal, Sugar, Confectionery Product, Bread, Cake And Pastries, Other Bread And Bakery Product, Cookie and Cracker, Dry Pasta, Dough, and Flour Mixes, Tortilla.
By Geography: The global bakery & confectionary market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific was the largest region in the global bakery & confectionary market, accounting for 43% of the total market.
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Bakery & Confectionary Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides bakery & confectionary market overviews, analyzes and forecasts market size and growth for the global bakery & confectionary market, bakery & confectionary market share, bakery & confectionary market players, bakery & confectionary market segments and geographies, bakery & confectionary market’s leading competitors’ revenues, profiles and market shares. The bakery & confectionary market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.