Baked food items, especially bread, is consumed extensively in western countries which forms most of the demand of baked food market. In addition, the growing influence of western culture has raised the consumption of baked food products in other parts of the world as well. The trend of healthy eating or healthy snacking can also be credited for the market expansion. Consumers are highly inclined towards the better quality, minimally processed food products.
While majority of food trends come and go, baked food products have remained a staple part of the human diet for years. Market Research Future (MRFR) has recently published a research report on the global baked food market, highlighting the factors that can impact the growth of the market over the forecast period of 2018-2023. As per MRFR’s analysis, the market is set to achieve high growth figures by the end of the forecast period.
Hectic lifestyle, a greater number of people joining the workforce and an increase in purchasing power has raised the demand for convenience food products such as break and other baked items. To capitalize on the massive opportunity provided by the market, food manufacturers are coming up with new product launches. innovation in taste, texture, and ingredients also play a key role in attracting consumer’s attention.
Artisan baked products have gained prominence in the last few years. Products such as sourdough and rye loaves have become highly popular among consumers, mainly due to their health attributes.
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Consumption of baked food products with coffee or tea has become an essential part of the coffee culture across the globe. This can also be credited for the growth of the market. Moreover, the trend of cafe-hopping and consumption of baked items alongside is also common among millennials. In addition, various coffee houses are cropping up to cater to this augmenting demand which is likely to boost the demand for baked food products.
- Finsbury Food Group (U.K),
- Bread Talk (Singapore),
- McKee Foods (U.S.),
- Yamazaki Baking (Japan),
- Grupo Bimbo (Mexico),
- Hillshire Brands (U.S.),
- Aryzta (Switzerland),
- Hostess Brands (U.S.),
- George Weston (Canada),
- Pepperidge Farm (U.S.),
- Monginis (India)
- Flowers Foods (Georgia)
The global baked food market has been segmented based on type, and distribution channel.
By type, the baked food market has been segmented into cakes & pastries, donuts, bread & rolls, biscuits, and others. The cakes & pastries segment is dominating the market, and the growth of the segment can be credited to heightened demand for trans-fat free baked food.
By distribution channel, the baked food market has been segmented into food retail and food service. The food retail segment is leading the market. Burgeoning population growth and growing purchasing power of people is influencing the growth of the segment.
By region, the Baked Food Market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
Europe is the reigning baked food market and is likely to showcase remarkable growth over the forecast period. The expansion of the food industry, along with the inherent tradition of consumption of baked food items in the region, has favoured the growth of the market. Additionally, growing demand for the consumption of soluble dietary fibres in the region is also boosting the market growth. The UK, France, and Germany are the key contributors to the Europe market.
North America is following Europe’s lead closely. In North America, baked food, especially bread is a staple in diets. Plus, growing demand for other baked food products such as cakes and biscuits are driving the growth of the market.
The APAC baked food market is anticipated to capture the highest CAGR over the forecast period. Growing western influence on dietary patterns along with increased spending CA capacity in the emerging economies of the region is supporting the growth of the market.
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