Farmington, Jan. 19, 2023 (GLOBE NEWSWIRE) — The Global Bakery Products Market size was valued at USD 216.4 Billion in 2022 and is projected to reach USD 287.9 Billion by 2030, growing at a CAGR of 4.1% from 2023 to 2030. The growing number of people in the world is great for food and drink businesses. Around the world, the need for quick and easy foods and goods that sell quickly are driving up the need for bakery goods. People have been eating baked foods for a long time. The Romans were the first to do so. From there, the traditional way changed a lot, and new ways of baking changed the way people bake.
People can buy more baked goods because their lifestyles have changed and their incomes have gone up. There are now more manufacturing companies than ever before, which have led to better product development. Modern baking techniques were made possible by new technologies and research and development. They give baked goods a unique taste and look and make them healthier.
Request Sample Copy of Report “Bakery Products Market – Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
- In April 2022, Kraft Heinz announced that it had finished buying a food company in Santa Catarina, Brazil, called Companhia Hemmer Indstria e Comércio, also known as “Hemmer.” It is expected that the purchase will help both companies grow in the future.
- In February 2022, The Kraft Heinz Company and TheNotCompany announced a partnership. The goal of this partnership is to focus on sustainability in the coming years. The goal of this deal is to speed up innovation by combining the strengths of both companies.
- In January 2022, Campbell’s joined forces with CAMP to make scented candles that were only available for a limited time. There’s Chicken Noodle Soup, Tomato Soup, and Grilled Cheese, among other things.
By Product Type
Bread, cakes and pastries, cookies and biscuits, bagels, donuts, pizza and pizza crust, pies and tarts, brownies, and other products make up the global bakery products market. In 2020, breads made up 29.01% of the market, which was the largest share. During the forecast period, breads are expected to grow at the fastest rate of 4.2%.
The market for bakery products around the world is split into two categories: fresh and frozen. In 2020, fresh products made up 64.80% of the market, and over the next five years, they are expected to grow at a faster rate of 3.5%. During the review period, the frozen segment is expected to grow at a slower rate of 3.0%.
By Distribution Channel
Based on how the products are sold, the global bakery products market is split into food retail and food service. There are supermarkets, hypermarkets, convenience stores, in-store bakeries, online sales, and other types of stores in the food retail segment. The food retail segment made up 68.54% of the market in 2020, and the store-based sub-segment led the food retail segment. The food retail segment had a higher CAGR of 3.6% during the time period that was predicted.
In 2020, North America had 28.25% of the global market for bakery products. This share is expected to grow at a CAGR of 5.4% from 2022 to 2030. In North America, the market has grown very quickly over the past few years. People are choosing ready-to-eat foods more and more, which explains the growth. On the other hand, more people are getting jobs in North America, and eating out is becoming more popular. This is likely to keep boosting sales of baked goods. Also, the cold chain industry in the US is growing fast, which speeds up the growth of frozen bakery products and helps the market for bakery products in North America as a whole grow.
During the review period, the Asia-Pacific market is likely to be of interest to companies that make bakery products. The area has a 25.70% share of the global market for bakery products. From 2022 to 2030, the region is expected to grow at the fastest rate, with a CAGR of 4.0%. People’s lives are getting busier, and easy-to-eat foods are becoming more popular in emerging economies. Both of these things are driving the growth of bakery products. The Asia-Pacific market is growing because more and more people want healthier baked goods that last longer. Also, in developing economies in the Asia-Pacific region, the organised retail sector has grown quickly over the past few years. This is likely to be a big reason why the market for bakery goods in the Asia-Pacific region will grow. Online shopping is very popular in emerging economies, and as people in the Asia-Pacific region earn more money, the market is likely to grow even more. In 2020, China had 34.34% of the Asia-Pacific market, and it is expected that China will continue to lead the market for the next five years.
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Scope of Report:
|Growth Rate||CAGR of 4.1% from 2023 to 2030.|
|Revenue Forecast by 2030||USD 287.9 Billion|
|By Product Type||Breads, Cakes & Pastries, Cookies & Biscuits, Bagles, Donuts, Pizza & Pizza Crust, Pies & Tarts, Brownies, Other|
|By Category||Fresh, Frozen, Others|
|By Distribution Channel||Food Retail, Food Service, Other|
|By Companies||Finsbury Food Group Plc., Nestle S.A., Bimbo Bakeries USA, Britannia Industries Ltd., General Mills, Associated British Foods, Campbell Soup Company, Mondelez International, Bakers Delight Holdings Limited, Dunkin’ Brands|
|Regions and Countries Covered||
|Historical Year||2017 to 2022|
|Forecast Year||2023 to 2030|
The market for Bakery Products is expanding because unmanned vehicles offer more advantages than traditional vehicles do. These advantages include a lower risk of automobile accidents, improved safety and security, the elimination of the need to pay a driver, improved mobility for people who are disabled or who do not drive, and increased comfort and adaptability made possible by operating systems that are more integrated.
The Society of Automotive Engineers (SAE) refers to automobiles that are capable of driving themselves at the level 1–3 level as “semi-Bakery Products.”
The majority of Audi, BMW, and Mercedes-most Benz’s recent automobile models come equipped with level 1 automation as a standard feature. Automobiles such as the Volvo Pilot Assist, the Mercedes-Benz Drive Pilot, the Tesla Autopilot, and the Cadillac Super Cruise are examples of vehicles that include level 2 automation. The third level of automation includes the application of conditional automation.
The market for Bakery Products is expanding as a result of the fact that self-driving cars consume less petrol and do not become involved in accidents caused by human error. The expansion of the market for Bakery Products is aided in part by the fact that self-driving cars are gaining favour in the automotive sector and consuming less gasoline and battery power as a result of this popularity.
Even though there was a pandemic, there was an increase in the number of sales of self-driving automobiles. There will be around 11.2 million sales of level 2 vehicles in 2020, which is a 78% increase from 2019. To satisfy the needs of their customers, automobile manufacturers from over the world are developing new models of level 2 Bakery Products.
Key Segments Covered:
Top Market Players:
Finsbury Food Group Plc., Nestle S.A., Bimbo Bakeries USA, Britannia Industries Ltd., General Mills, Associated British Foods, Campbell Soup Company, Mondelez International, Bakers Delight Holdings Limited, Dunkin’ Brands, and others.
By Product Type
- Cakes & Pastries
- Cookies & Biscuits
- Pizza & Pizza Crust
- Pies & Tarts
By Distribution Channel
- Food Retail
- Food Service
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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