The global demand and consumption of bakery products is increasing and is expected to continue to do so. This is primarily due to increasingly widespread urbanization, rising disposable incomes, and changing lifestyles which have encouraged consumers to turn toward convenient foods. Rising disposable incomes have propelled the demand for gourmet products. Additionally, the changing trends and development of new and unique baked goods recipes have given rise to various forms of innovative bakery products, thus driving considerable growth.
A growing awareness of health and the importance of diet has led to an increasing demand for fortified, organic and nutritious bakery products. Moreover, developments in successfully replicating low calorie, vegan and sugar-free bakery products indicate a thriving bakery products market with considerable potential. For example, the use of chickpea brine to reproduce a meringue has led to the availability of vegan macarons. Innovative advancements in frozen bakery products such as thaw and bake products and intelligently packaged products which make sharing and serving easier are expected to increase growth over the forecast period.
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Top Key Players Analysis:
Key market strategies used by market leaders have been analyzed in the report to provide a complete understanding of the competitive landscape. Prominent players featured in the report include Sara Lee Bakery Group, Puratos, Lewis Brothers, Flowers Food, Grupo Bimbo, Britannia Industries Ltd., and Nestle.
Latest Industry News:
Canada Bread Company, a Grupo Bimbo subsidiary has won a consumer-voted award for Best New Bread in Canada. The product in question – Dempster’s 100% whole grain seed lover’s bread with Chia was voted for by over 15,000 consumers. Dempster’s bread does not contain any sugar, added colors or flavorings and is widely available making the brand a convenient and healthy choice.
Puratos Group has announced intentions to acquire PMG Premium Mühlen Gruppe GmbH & Co’s Plange Bakery Ingredient Business. An agreement has been reached and is currently pending approval by German competition authorities. The acquisition will allow Puratos to increase its presence in the German market.
The global bakery products market has been segmented by type, form, specialty type and by region.
By type, the market has been segmented into cake & cheesecake, bread & rolls, doughnuts & muffins, biscuits & cookies, cupcakes & brownies, pancakes and waffles, pies & tarts, sandwiches & wraps and others.
By form, the market has been segmented into Fresh, Frozen, Dough & Batter, Instant Mixes and others.
By specialty type, the market has been segmented into Sugar-Free, Gluten-Free, Organic, Low Calorie, Fortified and others.
By region, the market has been segmented into North America, Europe, Asia Pacific (APAC) and the Rest of the World (RoW).
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North America and Europe have a thriving bakery products market; this is primarily due to the current prevalence of consuming baked goods. Many bakery product trends are appropriated worldwide from these regions. There is also a strong presence of prominent market players here that drive growth.
The Asia Pacific is expected to grow considerably during the forecast period and has been identified as the fastest growing geographical segment. A rise in disposable income and the widespread availability of convenient bakery products in this region are facilitating market growth. Additionally, the region enjoys a massive consumer population which is increasingly demanding innovative bakery product options found in developed countries, thus driving growth.
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