BAKERY PRODUCTS MARKET - GROWTH, TRENDS, AND FORECASTS (2023 - 2028)

 Over the forecast period, the market for bakery products is anticipated to grow at a CAGR of 3.8%. Global demand for bakery products is rising as people's preferences for quick meals, the exodus of workers, and lifestyle changes all combine. There is a large variety of bakery items available on the market, and the market under study is being driven by several improvements in the product line that cater to the needs of diverse customer categories. For instance, bakery items like biscuits are being specifically created and reinvented to match changing consumer wants and lifestyles.

Consumers who are health-conscious generally as well as those with celiac disease consume free-from food items, particularly gluten-free items. The desire for gluten-free goods arises from the idea that foods without gluten and those without sugar can help individuals manage issues like bloating, indigestion, obesity, diabetes, etc. As a result, bakery goods that advertise being fat-, sugar-, gluten-, whole-wheat-, and salt-free are becoming more and more popular with consumers who are concerned about their health.

The highest revenue share in the market for bakery goods is accounted for by Europe. One the one hand, the Western European developed markets for bakery goods are mature and saturated. However, due to the strong demand for convenient food items, the expanding markets of Eastern Europe are particularly boosting the sales of bread and biscuits. Trends in health and well-being continue to have an impact on the creation of new items for the European baking market. While pleasure is still a key driver of bakery product sales, consumers today seek healthier characteristics like extra nutrition and clean-label ingredients instead than merely a sweet delight.

Major Players: Finsbury Food Group Plc, Mondelez International, General Mills Inc., Britannia Industries Ltd, and Grupo Bimbo 

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