Bakery Products Market by Product, Ingredients, Distribution Channel

List of Tables

[185 Pages Report] The Bakery Products Market size was estimated at USD 5.79 billion in 2023 and expected to reach USD 6.22 billion in 2024, at a CAGR 7.51% to reach USD 9.62 billion by 2030.

The bakery products constitute a wide range of ready-to-eat consumables predominantly made from flour, sugar, milk, butter, shortening, baking powder, and eggs. These products are universally cherished for their flavors, textures, and convenience. The growth of the bakery products market is significantly influenced by the rising consumption of convenient and ready-to-eat food items owing to busy lifestyles. The increasing demand for gluten-free and organic bakery products also propels their consumption among eco-conscious consumers. Moreover, innovative packaging solutions that extend shelf life and the proliferation of online retailing are expanding the penetration of bakery products worldwide. However, the fluctuating raw material prices and the stringent regulatory environment regarding food safety and labeling affect the demand for bakery products.

KEY MARKET STATISTICS
Base Year [2023]	USD 5.79 billion
Estimated Year [2024]	USD 6.22 billion
Forecast Year [2030]	USD 9.62 billion
CAGR (%)	7.51%

Additionally, managing the short shelf life of bakery products and competition from local artisanal bakeries are significant hurdles for bakery product manufacturers. Expanding plant-based and vegan bakery items as healthier and sustainable eating options attracts a broader customer base for bakery products. Moreover, innovation in eco-friendly packaging and energy-efficient production processes are expected to present significant opportunities for cost reduction and attracting environmentally conscious consumers for bakery products.

Regional Insights

Consumer preferences for convenience, health, and indulgence shape the demand for bakery products in the Americas. The market has observed a notable rise in gluten-free and organic products influenced by health-conscious consumers. Investment in sustainable and eco-friendly packaging solutions is evident, responding to increasing environmental concerns. The market observes trends toward artisanal and premium bakery products, with consumers valuing locally sourced and high-quality ingredients in the Americas. Europe, the Middle East, and Africa strongly prefer traditional and artisanal bakery products, with a significant emphasis on sustainability and traceability of the ingredients. The clean label is gaining momentum in the EMEA region, pushing bakeries to reformulate products with fewer additives and preservatives. The bakery products market in the Middle East is experiencing growth in demand for both traditional products and Western-style baked goods, driven by urbanization and changing lifestyles. In Africa, the bakery industry is witnessing a surge in demand for basic and convenient baked goods, attributed to the rising middle class and urbanization. Investments in the African region are channeled towards improving food safety and expanding distribution networks. Asia-Pacific's bakery products market is rapidly growing, with a shift toward premium and health-oriented products. Consumers strongly prefer high-quality and aesthetically pleasing bakery items, with a keen interest in traditional Japanese and French-inspired baked goods.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Bakery Products Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Rising consumer preference toward convenient bakery products
- Growing demand for low-calorie, gluten-free, and frozen bakery products
- Increasing availability of clean-label bakery products through online and offline channels

Market Restraints
- Price-sensitivity of the market

Market Opportunities
- Use of advanced bakery processing equipment with emergence of sustainable packaging
- Emerging popularity of vegan bakery products

Market Challenges
- Concerns related to processing bakery products and allergen issues

Market Segmentation Analysis
- Product: Wide availability of cakes and pastries in diverse range of flavors
- Ingredients: Penetration of chocolate and cocoa ingredients as a primary ingredient and for decoration
- Distribution Channel: Emerging availability of bakery products over online stores

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Bakery Products Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Bakery Products Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Rich Products to Expand the U.S. Capacity

Rich Products has announced a USD 27 million investment to augment the capabilities of its Morristown, Tennessee, manufacturing plant. This significant expansion, which includes adding 51 new manufacturing roles, would elevate the company's total workforce in the state to an impressive 1,400 employees. Focused on enhancing its cake and cupcake production lines, the initiative is expected to witness an additional 2,400 square feet of manufacturing space being developed. This development specifically supports the company's burgeoning bakery segment, which supplies a broad spectrum of bakery items to national and regional grocery chains and club retailers. [Published On: 2024-02-29]

Dawn Foods Completes Acquisition of Royal Steensma

Dawn Foods has acquired Royal Steensma, a Dutch company specializing in bakery ingredient production. Royal Steensma has established itself as a forefront contender in the bakery sector with a legacy spanning nearly two centuries. Originating from Leeuwarden, in the Netherlands, the company garners acclaim for its extensive array of bakery solutions, including its renowned fat-based coatings under the brand Souplesse, along with premium almond and confectionery pastes, a variety of bakery mixes, fruit fillings, and an assortment of infused candied fruits, and decorative items. This strategic acquisition further solidifies Dawn Foods's position in the market by integrating Royal Steensma's extensive product line and expertise into its offerings. [Published On: 2024-02-06]

Puratos UK Launches Sapore Sally Ready-to-use Sourdough

Puratos UK introduced Sapore Sally, an innovative sourdough derived from regeneratively farmed flour provided by Wildfarmed, a UK-based concern. This pioneering addition to the esteemed Sapore range of sourdoughs marks Sapore Sally as a uniquely living sourdough crafted to empower large-scale bakeries with the option to enrich their product lines with locally produced sourdough offerings and emphasize a commitment to sustainable sourcing. [Published On: 2024-01-31]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Bakery Products Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Bakery Products Market, highlighting leading vendors and their innovative profiles. These include Alpha Baking Company, Inc., Arca Continental, S. A. B. de C. V., Associated British Foods PLC, B&G Foods, Inc., Bahlsen GmbH & Co. KG, Bakers Delight Holdings Limited, Britannia Industries Limited, Campbell Soup Company, Conagra Brands, Inc., Crazy Snacks Pvt. Ltd., Dr. August Oetker KG, Elliott's Bakery, Finsbury Food Group PLC, Flowers Foods, Inc., General Mills, Inc., Grupo Bimbo, S.A.B. de C.V., Hostess Brands, Inc. by The J. M. Smucker Company, Inspire Brands, Inc., ITC Limited, Kellanova, Kerry Group PLC, King's Hawaiian Holding Co, Inc., Lantmannen ek for, Mondelez International, Inc., Nestle S.A., PepsiCo, Inc., Rich Products Corporation, The Hershey Company, TreeHouse Foods, Inc., Warburtons Limited, and Yamazaki Baking Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Bakery Products Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Bread & Rolls
  - Baguettes
  - Burger Buns
  - Ciabatta
  - Frozen Bread
  - Loaves
  - Rolls
  - Sandwich Slices

Cakes & Pastries
- Cupcakes
- Dessert Cakes
- Pastries
- Sponge Cakes

Cookies
- Bar Cookies
- Drop Cookies
- Molded Cookies
- Rolled Cookies

Pretzels
Tortillas

Ingredients
- Chocolate & Cocoa
- Dairy Products
  - Condensed Milk
  - Fermented Milk Products
  - Fresh Milk &Cream

Eggs
Fats & oils
Fruits & Nuts
Grains
Leaveners
- Chemical Leavening Agents
- Yeast

Salt, Spices & Flavorings
Sweeteners
- Alternative Sweeteners
- Nutritive Sweeteners

Distribution Channel
- Convenience Stores
- Hypermarkets
- Online Stores
- Specialty Stores
- Supermarkets

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-4346F3B3C1CB

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising consumer preference toward convenient bakery products
  - 5.1.1.2. Growing demand for low-calorie, gluten-free, and frozen bakery products
  - 5.1.1.3. Increasing availability of clean-label bakery products through online and offline channels
- 5.1.2. Restraints
  - 5.1.2.1. Price-sensitivity of the market
- 5.1.3. Opportunities
  - 5.1.3.1. Use of advanced bakery processing equipment with emergence of sustainable packaging
  - 5.1.3.2. Emerging popularity of vegan bakery products
- 5.1.4. Challenges
  - 5.1.4.1. Concerns related to processing bakery products and allergen issues
5.2. Market Segmentation Analysis
- 5.2.1. Product: Wide availability of cakes and pastries in diverse range of flavors
- 5.2.2. Ingredients: Penetration of chocolate and cocoa ingredients as a primary ingredient and for decoration
- 5.2.3. Distribution Channel: Emerging availability of bakery products over online stores
5.3. Market Trend Analysis
- 5.3.1. Emergence of autonomous and robotic manufacturing solutions for bakery products in the Americas
- 5.3.2. Expanding the availability of raw materials with increasing inclination towards gluten-free bakery products in the Asia-Pacific region
- 5.3.3. Presence of cultural trends for bakery products with the rising automation of bakery processing plants in EMEA region
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Bakery Products Market, by Product

6.1. Introduction
6.2. Bread & Rolls
6.3. Cakes & Pastries
6.4. Cookies
6.5. Pretzels
6.6. Tortillas

7. Bakery Products Market, by Ingredients

7.1. Introduction
7.2. Chocolate & Cocoa
7.3. Dairy Products
7.4. Eggs
7.5. Fats & oils
7.6. Fruits & Nuts
7.7. Grains
7.8. Leaveners
7.9. Salt, Spices & Flavorings
7.10. Sweeteners

8. Bakery Products Market, by Distribution Channel

8.1. Introduction
8.2. Convenience Stores
8.3. Hypermarkets
8.4. Online Stores
8.5. Specialty Stores
8.6. Supermarkets

9. Americas Bakery Products Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Bakery Products Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Bakery Products Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Rich Products to Expand the U.S. Capacity
- 12.3.2. Dawn Foods Completes Acquisition of Royal Steensma
- 12.3.3. Puratos UK Launches Sapore Sally Ready-to-use Sourdough
- 12.3.4. EQUII Announces Partnership with Bridor to Revolutionize Artisanal Bakery with Complete Protein Baked Goods
- 12.3.5. Aryzta Announces Plans to Construct a New Bakery Facility in Australia
- 12.3.6. Dawn Foods Launches First Vegan Certified Sponge Cake Mix
- 12.3.7. Finsbury Food Group to be Acquired by DBAY Advisors
- 12.3.8. General Mills India Doubles Pillsbury Production to Serve Growing Baking Industry
- 12.3.9. The J.M. Smucker Co. Completes the Acquisition of Hostess Brands to Advance Strategy and Expand Family of Brands in Growing Categories
- 12.3.10. Flowers Foods Continues to Innovate, Adds Four New Products to Portfolio
- 12.3.11. ABF Invests in German Food Start-up KoRo
- 12.3.12. Kellogg And Little Debbie Partner To Launch Nostalgic Kellogg's Little Debbie Swiss Rolls Cereal
- 12.3.13. Dr. Oetker Acquires Belgian Pudding Mix Brand Imperial from GB Foods

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio