Bakery And Confectionery Market Characteristics
The bakery and confectionery manufacturing 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.
Competitive Landscape of the Bakery And Confectionery Market
Major players in the global bakery and confectionery market include Grupo Bimbo , Finsbury Food Group, McKee Foods, Yamazaki Baking, BreadTalk Group.
Bakery And Confectionery Market Size
The bakery and confectionery market size is expected to reach at a higher double digit figure by 2022, significantly growing at a CAGR of around 4.7% during the forecast period. The growth in the bakery and confectionery market is due to the increased use of natural ingredients and have also reduced the use of artificial colours and flavours.
However, the market for bakery and confectionery is expected to face certain restraints from several factors such as health awareness and shift towards organic foods.
Bakery And Confectionery Market Segmentation
The global bakery and confectionery market is further segmented based on type and geography.
By Type - The bakery and confectionery market is segmented into Breakfast Cereal Manufacturing, Sugar And Confectionery Product Manufacturing, Bread And Bakery Product Manufacturing, Cookie, Cracker, Pasta, And Tortilla Manufacturing Oats Breakfast Cereal, Grains Breakfast Cereal, Other Breakfast Cereal, Sugar Manufacturing, Confectionery Product , Bread, Cake And Pastries, Other Bread And Bakery Product, Cookie and Cracker Manufacturing, Dry Pasta, Dough, and Flour Mixes Manufacturing from Purchased Flour, Tortilla Manufacturing.
By Geography - The global bakery and confectionery is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific bakery and confectionery market accounts the largest share in the global bakery and confectionery market.
Trends in the Bakery And Confectionery Market
Introduction of products with natural additives and colouring agents and acquisition of smaller firms that produce products with natural ingredients are the major trends witnessed in the global bakery and confectionery market.
Potential Opportunities in the Bakery And Confectionery Market
With increased demand for bread in Asian countries such as China, India and Singapore and production of healthy bakery items, the scope and potential for the global bakery and confectionery market is expected to significantly rise in the forecast period.