Market Analysis —
The global bakery products market is anticipated to grow at a favorable CAGR between 2017-2022, states the latest Market Research Future (MRFR) report. Baking is one of the oldest techniques of cooking. It is widely used to produce everyday products such as donuts, cookies, pies, pastries, cakes, and bread. Such products are made using different ingredients such as leavening agents, flour, and water. It is regarded as FMCG (fast-moving consumer goods) that are consumed daily. Due to its easily digestible nature, appearance, and palatability, bakery products are widely preferred both for informal and formal occasions alike. Most baked food products contain good amounts of sugar, fats, and often fruits and nuts that automatically increases their energy content and nutritional value.
Various factors are propelling the bakery products market growth. Such factors, according to the latest Market Research Future report, include rising prominence of gluten-free bakery products, increasing demand for artisan and clean-label bakery products, improving standards of living, rising consumption of ready-to-eat foods due to hectic lifestyle, and convenience and easy availability of bakery products. Additional factors propelling the growth of the bakery products market include the introduction of innovative products, availability of wide variety, growing demand for organic bakery products, and the adoption of cross-culture eating habits. Besides, technological advancement in food processing has helped manufacturers in introducing new and better-quality bakery products with enhanced nutritive value, appearance, and better taste, which is again adding to the growth of the market.
On the contrary, an increasing number of health-conscious population and shifting consumption patterns are factors that may impede the bakery products market growth during the forecast period.
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The Market Research Future report provides a complete segmental analysis of the bakery products market on the basis of form, claim, and type.
By product type, the bakery products market is segmented into biscuits, doughnuts, pastries, breads, cakes, and others. Of these, the bread segment will lead the market during the forecast period for its wide use as a staple food in most regions across the globe.
By claim, the bakery products market is segmented into low-calories, sugar-free, organic, gluten free, and others. Of these, the organic segment will dominate the market during the forecast period as this is a healthy alternative to other options.
By form, the bakery products market is segmented into frozen, fresh, and others. Of these, the fresh segment will have the maximum share in the market during the forecast period. These products contain more nutrition compared to frozen products. Frozen products have preservatives that prevent products from getting spoilt.
By region, the bakery products market report covers the latest trends and growth opportunities across North America, the Asia Pacific, Europe, and the Rest of the World. Of these, the APAC region will lead the market during the forecast period. Various factors propelling the growth of the bakery products market in the region include the rising popularity of convenient products, mass consumption of bakery products for its low price, shifting eating habits, increasing disposable income, and developing economy.
The bakery products market in Europe will have the second-largest share in the market during the forecast period for the burgeoning demand for baked products, including trans-fat products, high-fiber, and gluten-free. The UK and Germany are the major contributors in this region.
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Notable players profiled in the bakery products market report include United Biscuits (UK), Dunkin' Donuts LLC (US), General Mills, Inc. (US), Mondelez International, Inc. (US), S.A.B. de C.V.(Mexico), Grupo Bimbo, Britannia Industries Limited (India), and Barilla Holding S.p.A. (Italy). Key players have incorporated specific strategies to stay head and shoulders above others in the competition, such as diversification of distribution channels, partnerships with regional manufacturers, mergers and acquisitions, and joint ventures.
November 2019: Morrisons has recently launched a Jaffa cake doughnut that is filled with orange and chocolate sauce, dipped in chocolate glaze, and has a Jaffa cake as its topping.
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