Market Size of Bakery Products Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 621.58 Billion |
| Market Size (2029) | USD 810.45 Billion |
| CAGR (2024 - 2029) | 5.45 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Bakery Products Market Analysis
The Bakery Products Market size is estimated at USD 621.58 billion in 2024, and is expected to reach USD 810.45 billion by 2029, at a CAGR of 5.45% during the forecast period (2024-2029).
- Growing preference toward convenient foods, the rising ex-pat population, and changing lifestyles are escalating the demand for bakery products globally. A wide range of bakery products are being sold in the market, and the various innovations in the bakery products range suiting the demand of different segments of consumers are driving the market studied. For instance, bakery products like biscuits are being innovated and specifically produced to meet consumers' changing lifestyles and demands.
- Furthermore, bakery products (especially bread) have been a staple diet for people worldwide for centuries. The convenience, accessibility, and nutrition profile associated with them are the significant factors that have sustained these products in the modern market. Additionally, the rising trends of 鈥渘atural nutrition,鈥� 鈥渉ealthy living,鈥� and 鈥渙rganic products鈥� have significantly increased the demand for whole wheat, light (low calorie), natural, and additive-free bakery products. Furthermore, the demand for healthy food drives the need for whole grain, gluten-free, and multigrain bakery products. Therefore, manufacturers capitalize on customers' demand to increase their market share. For instance, in February 2022, Dr Sch盲r UK Ltd., a gluten-free manufacturer, announced the acquisition of Glasgow-based bakery GDR Food Technology Ltd., t/a Just: Gluten Free Bakery. GDR specializes in gluten-free baked goods such as bread, rolls, teacakes, and flatbread. These factors are expected to boost the growth of this market over the forecast period.
Bakery Products Industry Segmentation
Bakery products are prepared from flour or meal derived from grains and are available in a wide range.
The global bakery products market is segmented based on product type, distribution channel, and geography. The market has been segmented based on product type into cakes and pastries, biscui ts, bread, morning goods, and other product types. Based on the distribution channel, the market has been segmented into hypermarkets/supermarkets, convenience/grocery stores, specialty stores, online retail stores, and other distribution channels. Finally, based on geography, the market has been segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
For each segment, the market sizing and forecasts have been done based on value (in USD).
| By Product Type | |
| Cakes and Pastries | |
| Biscuits | |
| Bread | |
| Morning Goods | |
| Other Product Types |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience/Grocery Stores | |
| Speciality Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| By Geography | |||||||||
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Bakery Products Market Size Summary
The bakery products market is experiencing significant growth, driven by evolving consumer preferences for convenience and health-oriented foods. The increasing ex-pat population and changing lifestyles are contributing to the rising demand for a diverse range of bakery products globally. Innovations in product offerings, such as biscuits tailored to meet specific consumer needs, are further propelling market expansion. Bakery products, particularly bread, have long been a staple in diets worldwide, valued for their convenience, accessibility, and nutritional benefits. The growing trends towards natural nutrition, healthy living, and organic products are boosting the demand for whole wheat, low-calorie, and additive-free options. Manufacturers are capitalizing on these trends to enhance their market presence, as seen in strategic acquisitions and product launches aimed at meeting the needs of health-conscious consumers.
The market is also witnessing a surge in demand for gluten-free and free-from-food products, driven by the health-conscious population and those with celiac disease. The preference for natural, vegan, and artificial additive-free products has led to the introduction of various innovative offerings, such as plant-based chocolate biscuits with reduced sugar and added prebiotic fiber. The European bakery market, well-established in terms of supply chain and consumer preferences, continues to see innovations in indulgent categories like cakes and pastries, alongside healthier alternatives. The competitive landscape is marked by the presence of major players such as Finsbury Food Group, Mondelez International, and Grupo Bimbo, who are actively engaging in acquisitions and product expansions to strengthen their market positions. These dynamics are expected to sustain the growth trajectory of the bakery products market over the forecast period.
Bakery Products Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Surge in Demand for 'Free-from' Food Products
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1.1.2 Demand For Convenient And Healthy On-the-go Snacking Options
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1.2 Market Restraints
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1.2.1 Health Risk Associated with Certain Ingredients
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Cakes and Pastries
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2.1.2 Biscuits
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2.1.3 Bread
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2.1.4 Morning Goods
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2.1.5 Other Product Types
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2.2 By Distribution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Convenience/Grocery Stores
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2.2.3 Speciality Stores
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2.2.4 Online Retail Stores
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2.2.5 Other Distribution Channels
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 Germany
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 South Africa
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2.3.5.2 Saudi Arabia
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2.3.5.3 Rest of Middle East and Africa
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Bakery Products Market Size FAQs
How big is the Bakery Products Market?
The Bakery Products Market size is expected to reach USD 621.58 billion in 2024 and grow at a CAGR of 5.45% to reach USD 810.45 billion by 2029.
What is the current Bakery Products Market size?
In 2024, the Bakery Products Market size is expected to reach USD 621.58 billion.
