BAKERY MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Bakery Products Market Analysis:

The bakery products market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period. The global demand for bakery products is on the rise due to the growing preference for convenient foods, the increasing ex-pat population, and the changing lifestyle of people. The market offers a wide range of bakery products, and the various innovations in this range, catering to the diverse demands of different consumer segments, are driving the market growth. For instance, biscuits with natural ingredients such as grain, low-calorie sweeteners, and whole wheat are gaining popularity among consumers, particularly diabetic consumers.

Bakery products, especially bread, have been a staple diet for people worldwide for centuries, owing to their convenience, accessibility, and nutritional value. These factors have sustained the popularity of bakery products in the modern market, not only in developed economies but also in underdeveloped or developing economies. These factors are expected to fuel the growth of the bakery products market during the forecast period.

Moreover, the increasing trends of “natural nutrition,” “healthy living,” and “organic products” have significantly boosted the demand for whole wheat, light (low calorie), natural, and additive-free bakery products. The growing demand for healthy food is driving the demand for whole wheat, gluten-free, and multigrain bakery products. The availability of such specialized bakery products is expected to further augment the market’s growth during the forecast period.

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