Indulge Yourself
Rather than evoking feelings of guilt, as was the case in the past, consumption of many types of sweet bakery products is increasingly inspiring a ‘feel good’ moment, which many feel is vital for their daily lives.
By Jonathan Thomas
The worldwide market for bakery goods – especially sweet varieties such as cakes, pastries, pies, muffins and doughnuts – has long benefited from the strong consumer desire for indulgent yet affordable foods, whether at mealtimes or during snacking occasions. Even though many of these products are typically priced at the higher end of the market, recent demand has held up relatively well, even allowing for the deteriorating economic conditions across much of the world at present.
Consumers in many western markets are increasingly seeking out comforting, convenient and affordable food experiences, both for in-home and out-of-home eating. This has been partly attributed to the state of the world today, with the devastating effects of the pandemic having been followed by turbulent political activity in certain parts of the globe (such as the Middle East and Ukraine), as well as economic uncertainty which has been evidenced by rising inflation and the higher cost of living. Rising demand for indulgent and comforting foods is a common trend during difficult times, mostly to help create feelings of warmth, contentment and wellbeing amongst people.
According to a 2023 report from Innova Market Insights, much of the world’s population routinely seeks out simple pleasures via foods such as sweet bakery goods. For over half (51%) of global consumers, smaller-sized treats such as cakes are viewed as an everyday moment of happiness, representing one of the most common methods of improving wellbeing. The report also found that almost 10% of UK consumers described enjoying indulgent food and drink as their most significant source of pleasure and happiness within the last year.
The importance of indulgence to the snacking market (of which bakery goods represent a leading sector) was further highlighted by research from FMCG Gurus, which was published in the second half of 2023. This research found that over 70% of global consumers claimed to enjoy food and beverages they viewed as indulgent or a small treat at least once a week. According to the study, 17% of its respondents consumed these types of food and drink on a daily basis, 25% did so every couple of days and 31% did so weekly. Less than 5% of consumers never exhibited this behavior.
The reasons for eating snack foods viewed as indulgent are summarized in the table below. As can be seen, the leading driver was for enjoyment and/or pleasure, mentioned by 43% of consumers. This figure was higher than average for respondents in European countries such as France (54%) and Spain (44%). Other leading reasons include doing so for comfort and as a way of cheering up, while boosting energy levels was mentioned by almost a quarter of respondents.