(Food-Beverage-News.Com, October 24, 2019 ) Market Overview: Bakery products baked foods such as breads, cakes, pies, and pastries. The nutrient rich properties and low cholesterol nature of these products made bakery products as one of the major food categories across the globe. Bread is considered as an excellent source of fiber, carbohydrates, vitamins, minerals, and proteins. The low cost and affordability factors led to increased consumption of bakery foods by consumers.
Consumption of bread dominated is dominated by the U.S. (14.7million tons), followed by China (9.3 million tons), Russia (8.7 million tons), and U.K. (6.2 million tons) in 2016. The market is experiencing demand for low-sugar, gluten-free bread, and other bakery products containing minimum levels of harmful carbohydrates.
Market Dynamics: Increasing hectic lifestyle and change in consumer preference towards healthy intake of food are the major factors driving the Bakery Products Market. Increasing population associated with rising household income are additionally driving the Bakery Products Markets.
The product innovations in bakery industry enabled availability of suitable products for every age group. The evolution of high-protein bread, whole grain bread and protein butters is resulting in increased consumption among athletes, body builders and other population groups. Annual consumption of bread witnessed a significant jump of 15% from 8.03 million tons in 2009 to 9.3 million tons in 2016.
Market Segmentation: Bakery Products Market is segmented on the basis of product type into bars, breads, cookies, desserts, muffins, pizza, sweet food, and others.
Bread is dominating the Bakery Products Market owing to increasing consumption of breads by the consumers across the globe and growing availability of wide range of breads across the variants. Bread evolved as a daily food routine for the employee and students across the globe due to their hectic lifestyle and ready to eat nature of breads.
The bread market witnessed significant changes over the last decade in the usage of ancient and gluten-free flour such as Teff, Sorghum, Amaranth and etc., in the production of breads to meet the consumer requirements across the globe.
Geographical Analysis: Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.
North America is dominating the Bakery Products Market owing to higher consumption of bakery products as part of their lifestyle. Millennial population are interested towards bakery products which are vegan, gluten-free, non-GMO and organic in nature. Shift in consumer preference towards healthy and organic diet is expected to boost market for ancient grain bakery products across the North America region. While older households prefer bakery products which are low in sugar and cholesterol content. The macro trends driving the United States Bakery market includes holistic health, blurring convenience, channel fenzy, thriving seasons, connected consumer and innovation in bakery products.
Competitive Analysis: Some of the key players in the Bakery Products Market includes Grupo Bimbo SAB de CV, Artisanal Foods, Flowers Foods, Inc, and McKee Foods Corporation.
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