The high inclination towards convenience food among the increasing working population is driving the growth of bakery products market.
The changing consumption pattern has increased the demand for bakery products in past few years. Bakery products offer convenience for the ones who travel to work and rely on pocket friendly foods Many baked products include high levels of fat, sugar, and sometimes fruit or nuts, which increases the energy content of such products. Also, advancement in processing technology has enabled inclusion of various ingredients that enhance taste, appearance and overall nutritive value of baked products supporting the growth of bakery products market.
The demand for healthy convenience foods is increasing which is driving the growth of fortified bakery and organic bakery products. This is resulting to the overall growth of bakery products. Moreover, wide range of variety in the bakery market is an added advantage for the growth of the market. However, there has been increasing controversies about less nutrients and spoilage due to microbial contamination which has declined the consumption of bakery products amongst the health-conscious consumers.
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Latest Industry Updates:
Feb 2017 International bakery group Lantmannen Unibake has acquired of Anderson Bakery, a baguette bakery in the Stockholm area, which was owned by Sven-Ake Andersson and Peter Wiberg. Strategic acquisition will help in strengthening company’s presence globally.
Jul 2017 Grupo Bimbo S.A.B. de C.V. has acquired Chicago-based East Balt Bakeries. This acquisition will help the company to maximize its production capacity.
Feb 2016 United Biscuits, a leading international manufacturer of biscuits, snacks and cakes, has announced its new product launch of McVitie’s Digestives Nibbles. The launch of McVitie’s Digestives Nibbles is a significant moment for UB which is projected to break new ground in sweet biscuits.
June 2016 Europastry S.A. has purchased bread and baked goods producer and distributor Sualba. With this acquisition, Europastry S.A. will strengthen its presence in the Valencia Region. Also, this initiative will add value products in the bakery sector.
Major Key Players Review:
The key players involved in this market are highly focused into new product launches and expanding their product offerings. Also, there are new entrants in the market based on tremendous growth witnessed in the bakery products market. Due to growing demand for the bakery products, the manufacturers are also undergoing expansion in their production capacity. Moreover, the key players have strongly emphasized on acquisitions and partnerships to grow and expand their geographical presence in the market. To compete in the market, the manufacturers are coming up with various marketing strategies and increasing the overall revenue of bakery products market.
The key players profiled in bakery products are Barilla Holding S.p.A. (Italy), Britannia Industries Limited (India), Grupo Bimbo, S.A.B. de C.V. (Mexico), Mondelez International, Inc. (U.S.), General Mills, Inc. (U.S.), Dunkin’ Donuts LLC (U.S.), and United Biscuits among many others.
The global bakery products market has been divided into type, form, claim, and region.
On the Basis of Type: Cake, Bread and Rolls, Pastries, Doughnuts, Biscuits, and Others
On the Basis of Form: Fresh, Frozen, and Others
On the Basis of Claim: Gluten Free, Organic, Sugar free, Low-Calories, and Others
On the Basis of Region: North America, Europe, Asia Pacific, and ROW
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The global bakery products market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, Europe region is witnessed to dominate the market and is expected to retain its dominance throughout the forecast period with a substantial growth rate. In Europe, Germany and the UK are the major contributors to the growth of the market. Asia-pacific will be the fastest growing region in the bakery products market, through high growth in emerging economies such as China and India.
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