29th
April 2019 - The
Global Bakery Product Market is expected to display higher growth rate over the
next seven years. The market is subject to witness a substantial growth due to
the varying food preferences and increasing consummation of packaged and
processed food. Additionally, factors such as growing need for longer shelf
life of food product and rising need for organic food products are anticipated
to boost the market growth over the forecast period. Globally, the market is
predicted to generate massive revenue over the next seven years, providing
numerous opportunities for market players to invest for research and
development in the bakery product market.
Rising adoption of enzymes, additives, softening agents and baking
powders in the baked goods category such as bread, patties, muffins, rolls,
tartlets and tarts are prolonging life span of the baked goods. Growing demand
for superior quality bakery products with enhanced flavor, texture, taste and
odor are estimated to complement the growth of baking product market in the
upcoming years. Additionally, increasing consummation and changing user
preference towards baked products such as bread, cookies, biscuits, muffins,
rolls, tartlets and tarts are further expanding market reach of the baking
products market.
Rising inclination of end users towards bakery products and increasing
concern among general population for healthy dietary supplements is anticipated
to drive the market demand during the forecast period. Recent developments in
baking industry and introduction of innovative products are spurring the demand
for bakery products in both developed and developing economies across the globe
in near future. However, growing prices, health consciousness among young
population, and stringent laws & regulation regarding excessive use of
artificial flavors are negatively affecting market growth in the recent years.
Yet, rapid urbanization and increasing per capita income in developing
economies across the globe are leading towards rise in consumption of baked
food. Rising production and large consumer base in developing countries is
expected to propel overall market. On-the-go food, change in lifestyle and need
for convenience in developed economies is boosting the demand over the forecast
period. Varying food patterns and rising personal expenditure majorly in the
developing economies are some of the key factors responsible for boosting the
growth of the baking products market in the upcoming years.
In addition, numerous initiatives and growing advertisement by industry
players to include the bakery products in the packaged food products and other
applications are substantially contributing to advancement of the baking
product market over forecast period. Furthermore, major emphasis on the
consummation of food products with high nutritional value such as yeast
ingredients by consumers in developed economies are propelling growth of the
bakery food market during the forecast period.
Bread is considered as one of the faster growing segment in the baking
products market with substantial revenue generation in the last couple of
years. Growing consummation of bread is credited to high nutritional content
and affordability to the price sensitive customers in the developing economies.
Baking products involving cakes & pastries segment has also witnessed
significant growth owing to increased consumption of snack items and
availability of freezers in retail stores.
The market is divided by region as North America, Europe, Asia-Pacific,
Latin America and Africa. North America has shown major growth in recent years
owing to the changing food habits, increasing demand for demand for packaged
and processed food, and existence of prominent industry players in the region.
Asia-Pacific region is predicted to hold major market share in the bakery
product market with massive growth in forecast period. Countries such as India,
China and Singapore are leading the Asia-Pacific market with shifting
preference towards western style food, rising per capita income, and
significant investment by leading industry players considering potential growth
opportunities in the region.
The key players in the bakery product market are Bahlsen GmbH & Co.,
KG, Allied Bakeries, Inc., BAB, Inc., Barilla Holding Societa per Azioni, Inc.,
Bakers Delight, Britannia Industries Ltd., ITC, Inc., Dunkin' Donuts, Inc.,
Bruegger's Enterprises, Inc., Einstein Noah Restaurant Group, Inc., Flowers
Foods, Inc., Nestlé S.A., Kellogg Company, Mondelez International, Inc.,
McDonald's Co., Warburton’s, Ltd. and Finsbury Food Group.
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