The global bakery market is expected to gain momentum from the ever-increasing urbanization, which is further resulting in a rise in the demand for convenience food. The United Nations declared that approximately 55% of the world population was residing in urban areas in 2018.
Fortune Business Insights profiles some of the prominent market players operating in the global bakery products market. They are as follows:
- Grupo Bimbo
- Finsbury Food Group
- Yamazaki Baking
- Kraft Foods
- Flowers Foods
- Rich Products
- Associated British Foods
- General Mills
- CSM Bakery Solutions
- The Campbell Soup Company
- Fuji Baking Group
- Other key market players
It is projected to reach around 68% by 2050. This information is published in an upcoming report by Fortune Business Insights, titled, “Bakery Products Market Size, Share & Industry Analysis, By Product Type (Bread, Cookies, Crackers, others), By Form (Fresh, Frozen), By Nature (Conventional, Organic), By Distribution Channel (Retail Stores, Artisan Bakers, Foodservice, Online Channels, Others) and Regional Forecast, 2019-2026.”
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The report provides accurate predictions on the future trends of the global bakery products market as well as the changes in consumer behaviors. It presents comprehensive information regarding the growth drivers, challenges, key market players, regions, and other similar aspects of the global market. Furthermore, it offers a precise estimation of the market size, CAGR, and competitive landscape.
Bread Sub-segment to Exhibit Rapid Growth Owing to Increasing Consumption
In terms of products, the global bakery products market is grouped into cakes and pastries, crackers, cookies, bread, and others. Out of these, the bread sub-segment is anticipated to dominate the global bakery products market during the forecast period. The huge consumer base for bread around the world is one of the most significant reasons for its growth.
In Europe, in 2014, this segment had accounted for around 79% of the market share. Also, in other developed countries, bread is considered to be a staple food and therefore, its demand is projected to grow steadily in the coming years. However, in developing nations, its demand will rise due to the high growth of population.
Increasing Number of Small Bakery Product Manufacturers to Favor Growth in Europe
The global bakery products market is geographically categorized into the Middle East and Africa, North America, Latin America, Asia Pacific, and Europe. Amongst these regions, Europe is anticipated to lead the global bakery market during the forecast period due to the rising consumption of bakery products in developed countries, namely, France, Italy, and Germany.
The International Association of Plant Bakers (AIBI) stated that, Germany, Greece, Ukraine, Bulgaria, and Turkey are the top five nations that are exhibiting high per capita consumption of bread products.
Additionally, an increasing number of small manufacturers, as well as the existence of renowned market players in the European countries, are projected to positively impact the market growth in this region in the coming years.
Asia Pacific, on the other hand, is expected to exhibit significant growth in the forthcoming years. It is likely to occur due to the high per capita income of people living in emerging countries, such as India, Japan, and China.
Besides, the rate of women’s employment is growing day by day, which is further resulting in a rise in the demand for ready-to-eat and convenience food items in this region. All these factors will contribute to the growth of the market.
Mondelez’s Cadbury Unveils Dairy Milk with 30% Less Sugar for Health Conscious People
Mondelez’s Cadbury, a multinational confectionery company, headquartered in the U.K., announced the expansion of its Cadbury Dairy Milk chocolate range in July 2019. The company unveiled the new Dairy Milk that contains 30% less sugar, especially for the health-conscious people.
The company had been observing a rise in the awareness programs and a rapid shift of the urban population towards healthy snacking options. The chocolate was under development process for the last couple of years at the company’s research and development facilities in the U.K. and India, with a highly skilled team of chocolatiers, nutritionists, and scientists.
The main focus of the team was to offer the consumers the original taste of Dairy Milk while putting 30% less sugar and no artificial colors, sweeteners, calories, or preservatives.
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