According to the latest report by IMARC Group, titled “Bakery Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global bakery products market size reached US$ 478.4 Billion in 2021. Bakery products include a variety of baked goods that are prepared in an oven. Some of the most common grain-based baked products include cakes, bread, pies, donuts, cookies and pastries. They are generally characterized by a sweet or savory taste and fluffy texture. They are prepared using numerous ingredients, such as grain-based flour, water, salt, sugar, flavoring agents and leavening agents. They are easy to consume and convenient to store for an extended period of time. As a result, they are widely gaining prominence among consumers across the globe.
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Global Bakery Products Market Trends:
The market is primarily driven by the escalating sales of convenience foods across the globe. With the inflating disposable income levels of the masses and their shifting dietary preferences, there has been a significant rise in the demand for processed and packaged baked foods, which is providing a thrust to the market growth. Moreover, there has been a growing preference towards the adoption of clean label and organic baked goods among consumers. Coupled with the easy availability of vegan and fortified bakery products across numerous online and offline organized retail channels, this is creating a positive outlook for the market. This is further supported by the growing health consciousness among the masses who are incorporating foods with low trans-fat content in their regular diets. Apart from this, the increasing deployment of robotics technology with the bakery processing equipment and significant growth in the food and beverages sector across the globe are also contributing to the market growth. Looking forward, IMARC Group expects the market to reach US$ 612.4 Billion by 2027, exhibiting at a CAGR of 4.0% during 2022-2027.
Market Summary:
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