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Global Bakery Products Market 2021: By Product (Bread & Rolls, Cakes & Pastries, Cookies), By Distribution Channel (, Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, Others)Global Bakery Products Market is an upcoming market research report by Trusted Business Insights. In the report, various data and information on the global bakery products market including competitive landscape, market trends, restraints, growth opportunities, drivers, recent developments, revenue details, and details of key players are included. In order to ensure the accuracy of research results, extensive primary and secondary research efforts have been conducted. In addition, research findings and conclusions are verified by experts from the industry. It is done before we include it in the market research report. The Global Bakery Products market size was valued at USD $392 Billion in 2020, USD $405.06 Billion in 2021, forecasted to reach USD $418.55 Billion in 2022, and is projected to reach USD $545.14 Billion by 2030, and is anticipated to expand at a CAGR of 3.33% over the forecast period from 2020 to 2030.
OverviewPopular Bakery products are bread, cookies, rolls, pies, muffins, and pastries, which are usually prepared from flour derived from some form of grain. Bread, which is a common staple food from prehistoric times, contain many nutrients needed for the human diet. Due to rich content of fat, sugar, fruits, nuts, these products have high nutritional value and energy content.
DynamicsGrowing consumption of various ready-to-eat foods around the globe is one among some of the key factors driving growth of the global bakery products market. Moreover, demand for bakery products has been increasing due to convenience of use, nutrition profile, accessibility, and unique state. Also, adoption of cross-cultural eating habits and increasing demand for various healthy food alternatives are projected to drive growth of the market over the forecast period. In order to gain greater market share, key players are focusing on increasing their global presence. Another key factor expected to further drive growth of the global market and the success of companies over the forecast period is the establishment of joint warehouses in various key locations. As bakery and other food products that have gluten as an ingredient can cause various side effects such as celiac diseases and digestive diseases, most of the consumers prefer gluten-free bakery products. Basic raw materials needed for producing bakery products are fat, emulsifiers, flavors, flour, milk, and sugar. The availability and prices of these raw materials determine the pricing of bakery products. Involvements of high logistics and storage costs and high energy usage in the bakery product market are the major restraints for the growth of the global market. These high costs are due to the transportation of these products in specially designed automotive components, which are equipped with state-of-the-art refrigeration facilities. However, continuous innovations regarding product development are projected to create growth opportunities for key players in the global bakery products market over the forecast period.
Global Bakery Products Market Segment Analysis:By Product: The bread and rolls segment among the product segments is projected to contribute highest revenues share to the global bakery products market over the forecast period. This can be attributed to significant increase in demand for bakery products in regions such as Asia Pacific and North America. The cakes and pastries segment among the product segments is projected to register fastest growth over the forecast period. By Distribution Channel: The specialty stores segment among the distribution channel segments is projected to continue its dominance over the forecast period. This growth of the segment can be attributed to wide availability of artisanal bakery products in these specialty stores.
Global Bakery Products Market Regional Analysis:Europe is projected to be the dominant regional market over the forecast period, which is attributed to high demand for various bakery products in the region such as high-fiber, trans fat, and gluten-free products. Asia Pacific is projected to be fastest-growing regional market owing to the presence of key players in countries in the region such as India, China, Japan, and Singapore.
Below are the leading companies profiled in this Bakery Products Market Report:
Chapter 1 Methodology and Scope