The emergence of private-label brands is one of the major trends being witnessed in the global packaged croissant market 2019-2023. The global packaged croissants market is witnessing increasing prominence of private-label brands. These products are manufactured and sold by retailers. The major global retailers are introducing their brand of packaged croissants. Over the last decade, the private-label product segment has grown in terms of scope and size. Private-label products are priced lower than branded products. Price-sensitive consumers are more likely to purchase private-label products. Major retailers, such as Walmart and Aldi offer packaged croissants under their brands. Therefore, the demand for private-label brands is expected to increase during the forecast period and will aid the growth of the global packaged croissants market during the forecast period.
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According to Technavio analysts, one of the key factors contributing to the growth of the global packaged croissant market is the increasing new product launches:
Global packaged croissant market: Increasing new product launches
Successful new product launches will help in increasing the revenue flow and, thus, the market share of the market players. Product launches will also help in retaining consumer interest in the brand. For instance, in January 2017, Bridor launched a new line of croissants. The new line comprises four flavors, which are- apricot, cocoa and hazelnut, raspberry, and custard. Also, in May 2017, Lantmannen introduced a new line of croissants under the Schulstad brand. The new line comprises three varieties of croissants - multigrain croissant, oat & honey croissant, and pain au chocolat croissant. Thus, with the increasing new product launches the growth of the global packaged croissants market will be positive during the forecast period.
According to a senior analyst at Technavio, “The rising urbanization and changing lifestyles, increasing competition from other snack products, and increasing mergers and acquisitions, and investments are some other factors that are expected to boost the growth of the global packaged croissant market, during the forecast period.”
Global packaged croissant market: Segmentation analysis
The global packaged croissant market research report provides market segmentation by product (shelf-stable croissants and frozen croissants) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The EMEA region held the largest share of the market in 2018, accounting for over 61% share, followed by the Americas and APAC respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth, followed by the APAC region.
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Five Forces Analysis
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