NEW YORK, Jan. 9, 2024 /PRNewswire/ -- The specialty bakery market is to grow by USD 15.87 billion from 2023 to 2028, progressing at a CAGR of 5.29% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment.
The market is driven by Growing demand for functional ingredients for products like artisanal breads, gourmet pastries, custom cakes, gluten-free bakery items, vegan desserts, sugar-free treats, French patisserie delights, specialty cookies, cupcakes, and wedding cakes. This rise indicates a consumer shift towards healthier, diverse, and customizable baked goods, driving the industry's growth.
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Specialty Bakery Market 2024-2028 - Market Dynamics
Major Trend
- The growth in demand for private-label bakeries is a major trend in the market. This trend is driven by the popularity of nut-free bakeries, specialty doughnuts, breakfast pastries, savory baked treats, artisanal chocolate, customizable cupcake flavors, sourdough varieties, specialty tarts, health-conscious baked goods, signature pies, and exotic flavor combinations. Consumers are increasingly drawn to personalized, diverse, and unique baked offerings, fueling the ascendancy of this market trend.
Significant Challenge
- Fluctuating raw material prices of specialty bakery products is a significant challenge restricting market growth. This challenge impacts limited edition releases, small-batch production, local ingredient sourcing, ethnic and organic bakeries, European-style baked goods, handcrafted confections, artistic cake decorations, seasonal specials, and keto-friendly bakery items. The market's reliance on these diverse elements is hindered by unpredictable fluctuations in raw material costs is a challenge to consistent growth and market stability.
Specialty Bakery Market 2024-2028: Market Segmentation
The specialty bakery market analysis includes distribution channels (offline and online), application (specialty bread, specialty cakes and pastries, specialty cookies, specialty crackers and pretzels, and others), and geography (North America, APAC, Europe, South America, Middle East, and Africa).
- The market share growth by the offline segment will be significant during the forecast period. Supermarkets, hypermarkets, and convenience stores form part of the offline segment. The most popular distribution channels for specialty bakery products have been supermarkets and hypermarkets. Consumers are encouraged to buy bakery products in supermarkets and hypermarkets by factors such as discounted prices, along with a pleasant shopping experience that accompanies the ambient store atmosphere and shelf displays.
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The specialty bakery market covers the following areas:
Companies Mentioned
- Aryzta AG
- Associated British Foods Plc
- Britannia Industries Ltd.
- Conagra Brands Inc.
- Dawn Food Products Inc.
- EUROPASTRY SA
- Flowers Foods Inc.
- Corporativo Bimbo SA de CV
- Harry Brot GmbH
- Hostess Brands Inc.
- IL GERMOGLIO FOOD SRL
- Krispy Kreme Inc.
- Lantmannen Unibake International
- Maple Donuts Inc.
- McKee Foods
- Puratos Group NV
- Raisio plc
- Rich Products Corp.
- UAB Mantinga Group
- Yamazaki Baking Co. Ltd.
Company Offering
- Aryzta AG - The company offers specialty bakery products such as bread rolls and artisan loaves, sweet baked and morning goods, and savoury.
- Associated British Foods Plc - The company offers specialty bakery products such as Kingsmill Soft White, Kingsmill Tasty Wholemeal, and Kingsmill Toastie.
- Britannia Industries Ltd. - The company offers specialty bakery products such as Whole Wheat bread, high-fiber bread, and Brown bread.
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Related Reports
The Bakery Products Market size is projected to increase by USD 231.14 billion at a CAGR of 6.4% between 2022 and 2027.
The gluten-free bakery market size is estimated to grow by USD 1,326.19 million at a CAGR of 10.2% between 2022 and 2027.
Specialty Bakery Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.29% |
Market growth 2024-2028 |
USD 15.87 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.37 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, China, Germany, France, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aryzta AG, Associated British Foods Plc, Britannia Industries Ltd., Conagra Brands Inc., Dawn Food Products Inc., EUROPASTRY SA, Flowers Foods Inc., Corporativo Bimbo SA de CV, Harry Brot GmbH, Hostess Brands Inc., IL GERMOGLIO FOOD SRL, Krispy Kreme Inc., Lantmannen Unibake International, Maple Donuts Inc., McKee Foods, Puratos Group NV, Raisio plc, Rich Products Corp., UAB Mantinga Group, 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 recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Distribution Channel
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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