360iResearch: Bakery Products Market Projected to Reach USD9.62bn by 2030
The bakery products market is projected to grow from a size of USD5.79bn in 2023 to reach USD9.62bn by 2030, at a CAGR of 7.51% over the forecast period, according to a new report by 360iResearch.
The global bakery products sector continues to flourish, adapting to the evolving consumer inclinations toward convenience, health consciousness, and environmental sustainability. This market, rich in ready-to-eat items primarily crafted from flour, sugar, and eggs, caters to a broad audience by merging traditional flavors with modern dietary needs. The surge in demand for convenient food solutions, propelled by fast-paced lifestyles, alongside a growing appetite for gluten-free and organic options, significantly drives market growth. Innovative packaging technologies that enhance product longevity and the advent of online retail avenues are broadening consumer access to bakery goods. Challenges include volatile ingredient costs and rigorous food safety regulations. Opportunities include expanding its range to include plant-based and vegan options, appealing to health and environmentally-conscious consumers. With a regional perspective, there’s a distinct appreciation for artisanal and premium offerings in the Americas, sustainability and ingredient traceability in Europe, the Middle East, and Africa, alongside a burgeoning interest in premium and health-focused products in the Asia-Pacific region, reflecting a globally diverse yet unified demand for bakery products that align with modern lifestyle and ethical choices.
“Surge in Demand for Easy-to-Consume Bakery Items Reflects Changing Consumer Lifestyles”
There is a notable shift toward consuming convenient bakery products in response to the evolving dynamics of contemporary lifestyles marked by fast-paced urban living and tight schedules. This trend is driven by the need for time-efficient meal solutions that align with the accelerated pace of life, particularly in urban settings where time is at a premium. Processed bakery items, including pre-packaged sandwiches, quick pastries, and single-serve baked goods, are increasingly favored for their ease of consumption and minimal preparation requirements, offering a practical solution for individuals seeking swift, on-the-go nourishment. The escalating inclination towards these products is further amplified by growing economic affluence and a transformation in eating habits. The recent pandemic has also highlighted the importance of safety and hygiene, propelling the preference for contactless purchasing options. Consequently, the surge in the consumption of convenient bakery goods reflects a change in consumer eating patterns. It signifies a broader shift toward convenience-driven food choices, emphasizing this segment’s expansion.
“The Rich Diversity and Essential Role of Bakery Products in Daily Lives”
The culinary landscape is varied, and it is vast. Essential staples such as bread and rolls, crafted from simple ingredients such as flour, water, and yeast, have evolved into diverse forms, including slender and crispy baguettes, soft and versatile burger buns, and the richly flavored ciabatta, each bringing unique textures and flavors to meals around the world. Beyond merely serving as a meal accompaniment, bread in its many forms, from frozen selections offering convenience without compromising quality to the ceremonial slices of decadent, decorated dessert cakes and the flaky indulgence of pastries, plays a pivotal role in dining experiences. The delightful variety extends to the cozy familiarity of cookies, including bar and drop varieties, the careful craft of molded and rolled cookies, soft and hard pretzels, and the flexible foundation of tortillas that cater to a spectrum of dietary preferences. This rich array of bakery products satisfies diverse palates and reflects the cultural interconnections and culinary creativity that continue to enrich global dining traditions.