LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global bakery market to grow at a CAGR close to 4% during the forecast period, according to their latest market research report.
The increasing demand for organic and gluten-free bakery food products is one of the major trends being witnessed in the global bakery market 2018-2022. Health-conscious consumers increasingly prefer organic baking products and ingredients such as aluminum-free baking powder, gluten-free flour, and organic baking flour. To capitalize on this opportunity, several market vendors are launching new products in organic variants. Organic coconut flour, whole-wheat, and multigrain based products are gaining popularity. Gluten-free banana bread, gluten-free sorghum bread, and several other varieties of gluten-free bread are being launched to target customers with gluten allergies. Therefore, such launches are expected to boost market growth during the forecast period.
According to Technavio analysts, one of the key factors contributing to the growth of the global bakery market is the rising prominence of in-store bakeries in supermarkets:
Bakery Market: Rising Prominence of In-Store Bakeries in Supermarkets
In-store bakeries offer a substantial range for fresh-baked products, whole-grain bread, and specialty bakery products such as parbaked, pre-baked, or bake-off range of products. Moreover, in-store bakeries situated in supercenters and clubhouses, are among the preferred one-stop destinations for consumers due to the freshness and quality of their products. Supermarkets and hypermarkets are also introducing their own in-store bakeries which produce private label bakery products and sell them at a lower price thus, becoming a preferred option among price-conscious customers. Thus, the growing prominence of these in-store bakeries is expected to contribute significantly to the growth of the global bakery market value in coming years and propel the market growth.
According to a senior analyst at Technavio for research on packaged foods and meat, “Apart from the rising prominence of in-store bakeries in supermarkets, innovations in bakery products and the increasing number of product launches are some other major factors that are expected to boost market growth.”
Bakery Market: Segmentation Analysis
The global bakery market research report provides market segmentation by product (bread and rolls, cakes and pastries, cookies, and others) and geography (Americas, APAC, and EMEA). 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 2017, accounting for close to 46% share, followed by the Americas and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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