NEW YORK, Nov. 17, 2021 /PRNewswire/ -- "Baked Goods Market - Forecast and Analysis Report 2021-2025", the market witnessed a YOY growth rate of 5.43% at an accelerating CAGR of 6.12% between 2020 and 2025.
Revenue Generating Segment
The baked goods market share growth by the bread and rolls segment will be significant during the forecast period. The bread and rolls segment of the global baked goods market primarily includes products such as whole wheat bread, sourdough, rye bread, pita bread, focaccia bread, multigrain bread, white rolls, hot dog rolls, and sub rolls. The increasing demand for gluten-free bread and rolls is a major factor driving the growth of the segment. The increase in demand for free-from products such as bread, pies, and cakes is expected to encourage other major vendors to offer such products during the forecast period.
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The report is segmented by product (bread and rolls, cakes and pastries, cookies, and others) and geography (APAC, Europe, North America, South America, and MEA).
Vendor Insights
The global baked goods market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their products. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
For Instance,- In April 2020, Campbell Soup Co., the snack brand, Goldfish, partnered with America's hot sauce brand, Franks RedHot, in order to create a spicier version of the crackers called Goldfish Franks RedHot crackers. Similarly, In April 2021, Mondelez International Inc partnered with Olam Food Ingredients (OFI), a supplier of cocoa beans and cocoa ingredients.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
Find additional highlights on the growth strategies adopted by vendors & their product offerings. Read Free Sample Report.
Geographical Market Analysis
APAC will provide maximum growth opportunities in the Baked Goods market during the forecast period. According to our research report, the region will contribute 34% of the global market growth and is expected to dominate the market through 2025.
China and Japan are the key markets for the baked goods market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The expansion of global players in the region through organic and inorganic organizational developments will facilitate the bakery market growth in APAC over the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/bakery-market-industry-analysis
Key Market Trends & Challenges:
The growing demand for organic and gluten-free products is one of the significant baked goods market trends expected to stimulate market growth in the coming years. Health-conscious consumers prefer organic baking products and ingredients such as aluminum-free baking powder, gluten-free flour, and organic baking flour. Several market vendors are launching new products in organic variants to capitalize on this opportunity. Organic coconut flour, whole-wheat, and multigrain-based products are gaining popularity.
Fluctuations in raw material prices may hamper the market. The prices of all the ingredients are rising due to the increasing costs of production. As a result, manufacturers of bread and rolls incur more costs on raw materials. Furthermore, the supply of raw materials may be affected due to adverse weather conditions, national emergencies, strikes, governmental controls, natural disasters, supply shortages, or other unexpected events. This increasing cost, in turn, increases product prices. This becomes a challenge for marketers to introduce new product varieties with specific ingredients that enrich the taste and attract more consumers.
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Baked Goods Market Value Chain Analysis
It includes the following core components:
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Baked Goods Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of over 6.12% |
Market growth 2021-2025 |
USD 165.49 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.43 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 34% |
Key consumer countries |
US, China, Japan, Brazil, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Associated British Foods Plc, Britannia Industries Ltd., Campbell Soup Co., Flowers Foods Inc., Grupo Bimbo SAB de CV, JAB Holding Co. Sarl, Kellogg Co., Mondelez International Inc., Warburtons Ltd., and Yamazaki Baking Co. Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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