Global Bakery Goods Market Size, Share, Opportunities, And Trends By Product Type (Breads, Chips, Dessert, Cookies, Cakes, Bars, Others), By Distribution Channel (Hypermarkets/ Supermarkets, Convenience Stores, Bakery Stores, Online Retail, Others), And By Geography - Forecasts From 2024 To 2029

Bakery products are food products that are prepared through the use of flour or meal derived from some form of grain, which includes several products such as bread, rolls, cookies, pies, cakes, pastries, and many others. Bread has been a staple food product since prehistoric times and has been a good source of nutrition for many, regardless of income and class.  Baking techniques helped improve the form and texture of the product, without affecting the nutritional value and flavour of the grains and ingredients used.  The ingredients commonly used for the baking process include flour, water, and leavening agents such as yeast, baking powder, baking soda, air, and steam, which help in the formation of the appearance, texture, and flavour of most bakery goods. Milk, salt, shortenings (fats and oils), sugar, and eggs have also been used as modifiers for bakery goods, enhancing the taste and appearance of the product.

Introduction:

The global bakery goods market is expected to witness significant growth during the forecasted period of 2024-2029, due to factors such as increasing food demand and growth in urbanization propelling the global market.

Drivers:

• Increase in food demand: One of the most famous and well-known bakery foods that are enjoyed by households and others alike include bread and biscuits. These baked goods have been in production and consumption for centuries and have been known to provide the necessary nutrition and food to the general public, regardless of the income class. Hence the increase in food insecurity can give the necessary boost to the growth of baked products such as bread. As per the Harvard Business Review, the food demand worldwide is expected to increase between 59% to 98% by 2050, which will increase agricultural production of crops such as wheat, which is a common ingredient used in the production of bread. The increase in food demand will assist the growth of the bakery goods market during the forecasted period of 2024-2029.
• Increase in growth of urbanization: Urbanization plays a major role in the food preferences and consumption of individuals worldwide. The growth of the urban population is expected to display a significant increase during the forecasted period, due to growing income per person in developing and developed economies. The increasing global population also drives the growth of urbanization and urban population, along with the increase in technological advancements and household incomes. As per the Organisation for Economic Co-operation and Development (OECD), the real household income per capita in the OECD countries, which include the United States, Germany, Japan, Canada, and 23 other countries, experienced an increase of 0.5% during the second quarter of 2023, which is an addition to the increase in growth of 1.2% in the first quarter of 2023. This increase in household incomes can be linked to the increasing remunerations of employees and self-employed, as well as the increase in urbanization in the regions. As per the World Bank, the global urban population is expected to double in size by 2050 from 4.4 billion (56%) of the current urban population. As the income of individuals increases and urban areas grow in size, the preference for snacks and other types of ready-to-eat foods will be expected to increase, which include bakery snack goods such as chips, pastries, and many others. Therefore, the increase in income and urbanization will propel the growth of the bakery goods market during the forecasted period.

Key Players:

• PepsiCo: A multinational food and beverage company that is known for being the largest producer of food and beverage products in North America, with products such as Pepsi, Frito-Lays, Quaker Oats, and many others.
• General Mills, Inc.: A multinational company that is known for the production, manufacturing and marketing of market consumer goods with several products such as baking, cereals, ice cream meal, and snack products.

Regional Analysis:

The North American Region is expected to witness significant growth during the forecasted period of 2024-2029, due to factors such as the presence of global leaders and a high growth rate of disposable incomes in the region. The Baking industry in the United States displays significant economic impact as of the current period. As per American Bakers, the direct income provided by the baking industry in the United States accounts for  US$ 186,829,219,600 and generates over US$42 billion in direct wages to the skilled individuals in the bakery industry, which accounts for approximately 800,000 people. Coupled with the significance of the baking industry in the United States, the increase in household income also plays a factor in the growth in consumption of baked goods, commonly snacks and ready-to-eat food items such as bread, chips, cookies, biscuits, croissants, and many others. As per the OECD, Canada experienced the highest growth in real household income during the first quarter of 2023, which accounts for a 1.2% increase in real household income per capita. Along with the relevance of the baking industry in the United States and the increase in household income in the North American region, the presence of global leaders such as General Mills and PepsiCo plays a major role in the growth of the bakery goods market, with products such as Frito-Lays by PepsiCo, and many others. Therefore, the growth of the baking industry along with the increase in household income will provide the necessary boost to the growth of the bakery goods market during the forecasted period 2024-2029.

Market Developments:

• January 2024: Anthony & Sons Bakery announced the launch of their innovation in bakery products, dubbed Avocado Bread made with Guacamole Spice. Their new product offers bread that is on trend, healthy, and vegan, which consists of a wide variety of grains and flavours and provides a wide range of benefits, including healthy fats, antioxidants, and fibre in each loaf.
• May 2023: AngelYeast Co., Ltd., one of the world’s leading yeast manufacturers, announced the launch of their high-protein mixed-grain bread that contains 12 grams of protein per 100 grams of bread. They have also introduced several other products, which include the Bread Improver PURE for clean labels. This Bread Improver PURE consists of only enzyme preparation that will be converted into protein during the baking process. This product helps maintain the quality of the baking goods, which includes the texture, taste, size, and shelf life.

Segmentation:

• By Product Type:
  • Breads
  • Chips
  • Dessert
  • Cookies
  • Cakes
  • Bars
  • Others
• By Distribution Channel
  • Hypermarkets/ Supermarkets
  • Convenience Stores
  • Bakery Stores
  • Online Retail
  • Others
• By Geography:
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others