Bakery Products: A Global Strategic Business Report
San Jose, California (PRWEB) March 07, 2012
Follow us on LinkedIn – Modern-day consumers operate around hectic schedules and are unable to indulge in leisurely meals; hence, satisfying and handy snacks such as pocket sandwiches and wraps are rising in popularity. Also, persistent changes in workforce participation and attitudes, as well as growing incomes, have led consumers to emphasize more on convenience. Time-strapped women consider bread as a more convenient alternative to other staples, such as rice, which require substantial preparation time. Even among breads, the newly introduced “buttery” breads, which require no additional butter, are gaining a noticeable share in the market, at the expense of traditional loaf bread. Development of packaging that suits the changing lifestyles of consumers is another significant factor driving value in the market. Development in packaging would lean toward snack-focused and single-portion packaging as well as on miniaturization. Innovations in packaging that are expected to kindle consumer demand over the forecast period include re-sealable packaging and smaller bread loaves.
The bakery products market in developed regions such as North America, and Western Europe is comparatively matured, and future growth is forecast to be derived primarily from the emerging markets of Asia-Pacific, Latin America, Eastern Europe, and the Middle East. Encouraging economic prosperity, increasing disposable incomes, higher living standards, rising employment rates, and shifting lifestyles resulting from cultural changes, are providing an impetus to bakery products in these markets. Consumption of Cakes is rapidly proliferating in Asia, while biscuits are leading in terms of sales gains in Eastern Europe. Developing markets offer higher potential for greater market penetration, and rise in per capita consumption, while in the developed markets, innovation in new flavors and healthy ingredients will add to consumption frequency. For instance, in Western Europe, rising sophistication in flavor preferences drives the market.
Europe comprises the largest regional market worldwide, as stated by the new market research report on Bakery Products. The United States and Latin America succeed Europe as the next important markets in terms of overall size. However, with respect to the long term growth potential, the Asia-Pacific market is projected to take the lead, expanding at the highest CAGR of 6.0% through 2017. Segment-wise, Bread/Rolls represent the largest segment globally, followed by Cakes/Pastries. Morning Goods is expected to emerge as the fastest growing product segment through 2017, growing at a CAGR of 5.0% over the analysis period.
Southeast Asian countries offer robust business prospects for bread manufacturers. China, Hong Kong, and Malaysia, for example, are experiencing a boom in the Bread business. Strong economic growth, rising standards of living, increasingly westernized lifestyles, and reduced time to prepare elaborate home cooked meals/breakfast, are some of the factors responsible for the spurt in growth in these markets. Numerous new bakeries have been established in China and Hong Kong over the last few years, reflecting the growing popularity of bakery products in general.
The bakery products industry caters to a vast consumer segment ranging from 5-year old toddlers and upwards, and is required to be closely attuned to the diverse and shifting customer tastes and needs. Manufacturers are expected to further segment the bakery products market according to the age of the targeting consumer group. The indulgence products target chiefly the adults. In addition to the novelty brands aimed at children, especially in the biscuit and breakfast cereals sectors, manufacturers are also expected to target the lucrative teen’s market. The increase in the population figures of individuals aged over 60 years represents another opportunity for bakery products manufacturers. An example for senior-targeted bakery product is calcium-enriched products to reduce osteoporosis.
In-store bakeries are increasingly gaining significance in the bakery products market, especially in the sales of fresh, unwrapped bakery items. In-store bakery activities boosted private label sales in the US and the UK. In certain markets such as Spain and Germany, a majority of the distribution is carried out through independent bakeries and artisanal producers. In such markets, multiple grocery in-store bakeries distribute their part-baked and fresh products on a daily basis through the individual bakery outlets’ network. The success of Western-style bakery products in the emerging markets, particularly in Asia, Eastern Europe, and Latin America, partly depends on the development of supermarket chains in these regions. In certain regions, there is a scarcity of modern distribution systems and modern retail formats are under supplied in rural areas. Small, local producers that serve their surrounding vicinities dominate the markets in such regions.
Key market participants in the report include Bahlsen GmbH & Co., KG, BAB Inc., Britannia Industries Ltd., Bruegger’s Enterprises Inc., Einstein Noah Restaurant Group Inc., George Weston Foods Ltd., Grupo Bimbo S.A.B. de C.V, Kellogg Company, McDonald's Corporation, Nestle, Strauss Group Ltd., The Great Canadian Bagel Ltd., Parle Products Pvt., Ltd., United Biscuits, Yamazaki Baking Co., Ltd., among others.
The research report titled “Bakery Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive industry overview, market trends, product overview, product innovations, recent industry activity, and profiles of market players worldwide. Analysis and overview is provided for major geographic markets, such as US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Market analytics are provided in terms of value (US$) for product segments including Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Biscuits, and Other Bakery Products. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.
For more details about this comprehensive market research report, please visit –
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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