LONDON--(BUSINESS WIRE)--The global bakery market is expected to grow at a CAGR of close to 4% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global bakery market based on products such as bread and rolls, cakes and pastries, cookies, and others. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
Market driver: rising urbanization and changing consumer lifestyles
Some of the primary drivers of the global bread market are expanding global urban population, increasing demand for on-the-go snacks, and surge in the parity of purchasing power in emerging countries. A considerable shift in the lifestyles and diet habits over the past two decades has also been noticed. Emerging economies in Central and South America and APAC will prove to be attractive bread markets during the forecast period.
Increased global urbanization has led to improved living standards and higher disposable incomes. However, hectic lifestyles have resulted in deteriorating health conditions and lifestyle disorders owing to unhealthy eating habits. In large cities, the working class demands more on-the-go foods such as rolls, sandwiches, and croissants. Hence, in-store bakeries and artisanal bakeries are often located around busy streets and near corporate parks and entertainment parks.
According to a senior analyst at Technavio for food research, “The growing millennial population demands more options in the on-the-go food category, which augurs well for the global bakery market. The demand for fresh bread for consumption at home is also expected to witness an increase as more millennials are setting up their homes and starting a family.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Market trend: increasing demand for organic and gluten-free bakery food products
The bakery industry is witnessing a growing preference for healthy ingredients owing to the benefits they offer. These ingredients include organic baking products and ingredients, such as aluminum-free baking powder, gluten-free flour, and organic baking flour. Although organic baked goods are more expensive than conventional goods, the growing popularity of this segment among health-conscious consumers will support growth.
The growing preference for organic baking ingredients will positively influence their production and consumption, thereby leading to more products launches. Companies, such as Steenbergs, offer a wide range of organic baked products.
Market challenge: fluctuating raw material prices
The major raw materials required to produce bread and rolls include flour, sugar, salt, and milk. The price of all these ingredients is rising due to the increasing cost of production, which in turn impacts the cost of the finished products. Therefore, it is challenging for manufacturers to introduce new product varieties with specific ingredients that enrich taste and attract more consumers. This is because increasing product prices affect the buying decision, which in turn affects the performance of the industry.
Is your business on track for a successful future? Learn how Technavio can help
Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.
|
Technavio’s best deals of the month! |
|
Celebrate Earth Day and clean energy with Technavio. Get 30% discount on all energy reports. Offer valid from 12th March - 18th March. |
|
OR |
|
Get 20% off on all media and entertainment services reports. Offer valid only till the 31st of March. |
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
