Bakery & Confectionary Global Market Report 2023: Natural Flavourings Gain Popularity in the Industry
Global Bakery & Confectionary Market
Dublin, May 04, 2023 (GLOBE NEWSWIRE) -- The "Bakery & Confectionary Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global bakery & confectionary market grew from $934.45 billion in 2022 to $993.64 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The bakery & confectionary market is expected to grow to $1216.76 billion in 2027 at a CAGR of 5.2%.
Confectionery manufacturers are increasingly using natural flavours in confectionery products. Innovation has been key to the development of the confectionery market. According to the United States Food and Drug Administration, the term 'natural flavour' or 'natural flavoring' means the essential oil, oleoresin, essence or extractive, protein hydrolysate, distillate, or any product of roasting, heating, or enzymolysis, which contains the flavouring constituents derived from a spice, fruit or fruit juice, vegetable or vegetable juice, etc.
Using natural flavors manufacturers are imparting new and unique taste profiles into their products. For instance, Zaabar, Rococo Chocolates, and Rozsavologyi Csokolade are manufacturing chocolate bars with cardamom flavouring.
The world's population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for food. Supply for materials used in bakery and confectionary and trade volumes will have to increase in order to meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for bakery and confectionery products due to the rising population during the forecast period.
Asia-Pacific was the largest region in the bakery and confectionary market in 2022. Western Europe was the second-largest region in the bakery and confectionary market. The regions covered in the bakery and confectionary market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the bakery and confectionary market report are Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam.
1) By Type: Breakfast Cereal; Sugar And Confectionery Products; Bread And Bakery Products; Cookie, Cracker, Pasta, And Tortilla
2) By Price Point: Economy; Mid-Range; Luxury
3) By Distribution Channel: Supermarkets/Hypermarkets; Convenience Stores; E-Commerce; Other Distribution Channels
Subsegments Covered: Oats Breakfast Cereal; Grains Breakfast Cereal; Other Breakfast Cereal; Sugar; Confectionery Product; Bread; Cake And Pastries; Other Bread And Bakery Product; Cookie and Cracker; Dry Pasta, Dough, and Flour Mixes; Tortilla
No. of Pages
2023 - 2027
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Bakery & Confectionary Market Characteristics
4. Bakery & Confectionary Market Product Analysis
5. Bakery & Confectionary Market Supply Chain
6. Bakery & Confectionary Market Customer Information
7. Bakery & Confectionary Market Trends And Strategies
8. Bakery & Confectionary Market - Macro Economic Scenario
9. Bakery & Confectionary Market Size And Growth
10. Bakery & Confectionary Market Regional Analysis
11. Bakery & Confectionary Market Segmentation
12. Bakery & Confectionary Market Segments
13. Bakery & Confectionary Market Metrics
14. Asia-Pacific Bakery & Confectionary Market
15. Western Europe Bakery & Confectionary Market
16. Eastern Europe Bakery & Confectionary Market
17. North America Bakery & Confectionary Market
18. South America Bakery & Confectionary Market
19. Middle East Bakery & Confectionary Market
20. Africa Bakery & Confectionary Market
21. Bakery & Confectionary Market Competitive Landscape
22. Key Mergers And Acquisitions In The Bakery & Confectionary Market
23. Market Background: Food And Beverages Market
A selection of companies mentioned in this report includes
Grupo Bimbo S.A.B. de C.V.
Bimbo Bakeries USA
Yamazaki Baking Co. Ltd
Barry Callebaut AG
The Hershey Company
Wm Morrison Supermarkets plc
For more information about this report visit https://www.researchandmarkets.com/r/ve3nrq
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