The Global Baked Goods Market to Reach US$310.3 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global outlook on the Baked Goods Industry. The world baked goods market registered a quick recovery from the global financial turmoil and displayed strong growth rates over the last few years. The affordability, convenience and health benefits of the products were the major factors underpinning sales growth in the fragile economic scenario. In addition, increasing preference for healthier, functionally fortified baked products and wider acceptance in developing markets provided the required acceleration for continued growth.

Baked Goods: A Global Outlook

Follow Global Industry Analysts, Inc. on LinkedIn – The baked goods sector; primarily including bread, scones, cakes, pastries, biscuits, cereals and others; is well entrenched and developed in the industrialized parts of world including North America and Western Europe. In these regions, focus on new innovations, functional and healthier products and ingredients is driving market growth. On the other hand, developing markets of Asia, Latin America and Middle East/Africa with their penchant for western eating habits are driving growth and development in the worldwide bakery products market. Bread and rolls continue to be the largest segments in the baked goods category and manufacturers have been innovating products to suit changing consumer needs and demands.

The bakery products industry is confronted with mixed responses, where health vies with pleasure. In affluent economies of the Western Europe and North America, the trend towards increased sales of healthy foods is paralleled by an increasing demand for indulgent, premium-priced bakery products, which include high-quality artisanal breads, coated/filled sweet biscuits, luxury breakfast cereals, and cakes and pastries. Changing consumer lifestyles also had a positive impact on the purchase of baked goods. There is increasing demand for trans-fat free and whole grain baked goods with creamy icing, more butter, and premium-quality chocolate spread in an effort to strike a reasonable balance between indulgence and health needs.

A major drift for baked goods claiming health and functional benefits was clearly visible, as consumers looked for products with natural, organic and low-carb health attributes. One such category was the gluten-free range that was especially designed keeping in mind the gluten-sensitive population. Many manufacturers are focusing on reformulating brands for eliminating trans fats and other undesirable products without compromising on taste, texture, shelf life and quality. Other health oriented baked goods formulations are “All-natural” products made from 100% natural ingredients and free from additives/preservatives and synthetic products. The unstoppable growth of the supermarket industry that drove the consumer purchasing practice also created the movement for health foods. In tandem, the therapeutic bakery products gained acceptance in Western and other European countries. These products are non-diabetic, gluten free, rich in fiber, low calorie, low sodium; and production of these would aid the expansion of bakery products. Innovations in packing procedures, re-sizing, smaller size packs and usage of cartoon characters also influenced purchase behavior. The young population in developing regions such as Asia, Eastern Europe, Africa, Latin America and the Middle East, show clear inclination towards adopting American-style eating habits, such as fast food and snacking.

Post economic recession, survival in the sector forced several bakery suppliers/manufacturers to restructure and realign business lines in order to stay afloat and remain competitive. With stagnating sales, rising raw material and operational costs the market settings changed. This affected the profit margins of companies, especially in North America. A factor to be reckoned with was the bakery products & confectionery were produced in small-scale businesses as also in households apart from the industries in metropolis’. International players such as Philip Morris, Danone and Kellogg strengthened their presence in emerging markets such as Mexico, Turkey and China. Apart from the multinationals, several players specializing in artisanal/unpackaged products continue to remain a favorite among consumers.

The research report titled “Baked Goods: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers an aerial view of the global baked goods industry, identifies major short to medium term market challenges, and growth drivers. The report also takes a peek into the changing retailing trends, pricing pressures, the regulatory environment, and outlines recent mergers, acquisitions, and strategic developments. Market discussions in the report are punctuated with fact-rich market data tables. Regional markets elaborated upon include United States, Canada, Mexico, Japan, Germany, UK, India, South Korea and Brazil among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit –
http://www.strategyr.com/Baked_Goods_Industry_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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