LONDON–(BUSINESS WIRE)–The global bakery market size is poised to grow by USD 116.14 billion during 2020-2024, progressing at a CAGR of over 4% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
In-store bakeries in supermarkets and clubhouses are increasingly becoming popular among consumers. They offer products that are of high quality, fresh, and also convenient for consumers as they require little labor and can be prepared in a short time. Also, many supermarkets and hypermarkets are introducing in-store bakeries that produce private label bakery products at lower prices compared to established brand products. All these factors are fueling the growth of the global bakery market.
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- The major bakery market growth came from the bread rolls segment in 2019. This is due to the increasing demand for gluten-free bread among consumers.
- APAC was the largest market for bakery in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the expansion of global players in the region.
- The global bakery market is fragmented. Associated British Foods Plc, Britannia Industries Ltd., Campbell Soup Co., Flowers Foods Inc., Grupo Bimbo SAB de CV, JAB Holding Co. Sarl, Kellogg Co., Mondelez International Inc., Warburtons Ltd., and Yamazaki Baking Co. Ltd. are some of the major market participants. To help clients improve their market position, this bakery market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global bakery market 2020-2024 is expected to have neutral. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/bakery-market-industry-analysis
Rising urbanization and changing consumer lifestyles will be a key market trend
Rising urbanization and changing lifestyles of people have led to a considerable shift in dietary habits. Besides, the rise in purchasing power and expanding working-class population has further increased the demand for on-the-go foods such as rolls, sandwiches, and croissants. This has increased the number of in-store bakeries and artisanal bakeries around busy streets and near corporate parks. These factors are positively influencing the growth of the global bakery market.
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Bakery Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist bakery market growth during the next five years
- Estimation of the bakery market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the bakery market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of bakery market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Bread and rolls – Market size and forecast 2019-2024
- Cakes and pastries – Market size and forecast 2019-2024
- Cookies – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher-priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Associated British Foods Plc
- Britannia Industries Ltd.
- Campbell Soup Co.
- Flowers Foods, Inc.
- Grupo Bimbo SAB de CV
- JAB Holding Co. Sarl
- Kellogg Co.
- Mondelez International Inc.
- Warburtons Ltd.
- Yamazaki Baking Co. Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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