registering a CAGR of 7. 02% through 2026. The global bakery market is witnessing consistent growth, owing to the changing consumer taste & preferences, and improving standards of living of people, and increased consumption of packaged food.
New York, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Bakery Market, By Type, By Distribution Channel, By Region, Competition Forecast & Opportunities, 2026" - https://www.reportlinker.com/p06184427/?utm_source=GNW
The popularity of bakery items has increased with the expansion of fast-food businesses, which employs them to make burgers, snacks, and sandwiches.Furthermore, the advent of value-added bread items has aided industry expansion.
Moreover, factors such as changing eating habits, busy lifestyles, and western influence have further contributed to the increased demand for the bakery products.Furthermore, the growing awareness among consumers regarding the health benefits linked with the nutritious and organic ingredients used in bakery products is propelling the growth of the bakery market.
Consumers are becoming more aware of the importance of eating healthier baked products that are gluten-free, low in carbohydrates, and high in fiber and are demanding newer options. This has further prompted the bakery firms to fortify their products to meet the growing appetite of the health-conscious populace, such as Britannia, which offers Nutrichoice biscuits, which have a low glycemic index and high dietary fiber.
The global bakery market can be segregated into type, distribution channel, region, and company.Based on type, the global bakery market is further split into bread & rolls, cookies, cakes & pastries, doughnuts & muffins, pies & tarts, and others.
The bread & rolls segment accounted for the majority of share in the global bakery market in 2020.Bread, as a staple meal forms a large portion of one’s daily diet, therefore it meets a higher functional need.
The market has grown as a result of new low-carbs, multigrain, and fortified breads that appeal to health-conscious consumers. Moreover, factors such as improved packaging, raw material innovations for example bread infused with seeds, nuts, vegetables, and fruits for greater flavor and texture, and technological advances in bakery technology are further propelling the growth of bread in the bakery market.
Based on distribution channels, the global bakery market is divided into artisanal bakeries/specialty stores, supermarkets/hypermarkets, departmental stores, online, and others.Artisanal bakeries held the majority of the market share in the global bakery market due to their growing and diverse range of flavors.
Whereas online segment is expected to grow at a higher pace in the forecast period as the consumer base is highly inclined towards hustle-free technology-driven services, which offers them enhanced convenience, which is resulting in a rising inclination towards online services.This can be attributed to their fast-paced hectic lifestyles which draws them to online channels.
Due to the boom in e-commerce, online retailers are projected to gain a significant proportion of market share during the forecast period.
Some of the leading players in the global bakery market are Grupo Bimbo, Mondel?z International, Inc., Yamazaki Baking Co. Ltd., Flowers Foods, Inc., Kellogg Company, among others. The companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021E
Forecast Period: 2022F-2026F
Objective of the Study:
• To analyze the historical growth in the market size of global bakery market from 2016 to 2020.
• To estimate and forecast the market size of global bakery market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast global bakery market based on by type, by distribution channel, by region and by company.
• To identify dominant region or segment in the global bakery market.
• To identify drivers and challenges for global bakery market.
• To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in global bakery market.
• To identify and analyze the profile of leading players operating in global bakery market.
• To identify key sustainable strategies adopted by market players in global bakery market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, and presence of all major players across the globe.
The analyst calculated the market size of the global bakery market using a bottom-up approach, wherein data for various segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these product types and other segments for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by the analyst.
Key Target Audience:
• Manufacturers, distributors, and end-users
• Market research and consulting firms
• Government bodies such as regulating authorities and policymakers
• Organizations, forums, and alliances related to bakery market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the global bakery market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Global Bakery Market, By Type:
o Bread & Rolls
o Cakes & Pastries
o Doughnuts & Muffins
o Pies & Tarts
• Global Bakery Market Size, By Distribution Channel:
o Artisanal Bakeries/Specialty Stores
o Departmental Stores
• Global Bakery Market, By Region:
o North America
o Asia Pacific
o South America
o Middle East and Africa
Company Profiles: Detailed analysis of the major companies present in global bakery market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06184427/?utm_source=GNW
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