The Global Bread & Baked Food Market accounted for almost USD 148.42 Billion in 2020 and is likely to cross almost USD 22170 Billion by end of 2028, developing at a CAGR of almost 5.9% from 2017 to 2022.
The reports by Mondelez company in December 2020 suggested that the biscuit category is among the fastest growing food segments in the last 6-8 months, led by in-home consumption during the Coronavirus (Covid-19) pandemic. Moreover, the reports by the company also suggest that the organized biscuit market in India was valued at US$ 5 Billion in size and expected to grow at a double rate in April-May against pre-Covid levels as people stocked up during the lockdown. The aforementioned dare the key factors expected to drive the overall market growth.
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Moreover, key manufacturers in the market are focusing on strategies such as new product launches. For instance, in December 2020, Kellogg launched three new whole grain-centric bowls of cereal on the market. The grain cereal’s product portfolio includes Special Blueberry, Kellogg’s Frosted Mini-Wheat Cinnamon Roll, and Raisin Bran. Likewise, in September 2020, Nestle launched a new breakfast cereal for children. The new product is produced from natural ingredients, contains no artificial colors or flavors, and is high in fiber. And in August 2020, Mondelez India merged with Bournvita Fills. With the help of this merger, the company aims to enter the cereals market.
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● Updated Regional Analysis for the Year 2021 with Graphical Representation of Size, Share, and Trends
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Major Market Players
• Delta Agri-Foods Inc
• Biscuits Fossier
• Groupe Holder
• Cake the Kitchen Family
• Baker’s Oven
• Huntley and Palmers
• AB Mauri
COVID-19 Impact Analysis
The pandemic has significantly impacted the snack and bakery industry. Nonetheless, food processing is a necessary industry, and snack manufacturers and bakeries have worked tirelessly to keep their operations up and running. 2020, packaged goods could rise by over 6% 2020 relative to 2019. During the lockdown, bake-off use rose at the expense of scratch baking on the premises, which faced labor shortages and additional sanitary restrictions. Due to the difficulty of maintaining regular deliveries, fresh bakery food deliveries have declined since the lockout.
Bread and Baked Food Market: Growth Factors
The bread & baked food market is expected to rise in response to the rising demand for ready-to-eat foods. In developing markets, Moreover, the adoption of a westernized lifestyle, dual-income households, a focus on healthy lifestyles, increased wellness awareness, and a rise in disposable income are the main factors driving the baked foods industry growth.
Growing product launches by key players in the market are expected to drive the overall growth of the market. For instance, in December 2020, Mondelez extended its brand born into cookies. Moreover, the rising contribution of the baking industry the global revenue is expected to boost the market growth. For instance, In the U.S. today the baking industry accounts for over 600,000 jobs and over $102 billion a year.
The global Bread and Baked Food market is divided into the following categories:
Global Bread and Baked Food Market: By Type Segment Analysis
● Leavening agents
● Fats & shortenings
● Colors & flavors
● Baking powders & mixes
Global Bread and Baked Food Market: By Application Segment Analysis
Bread and Baked Food Market: Regional Analysis Preview
Asia Pacific region is expected to grow at the fastest rate during the forecast period. For instance, the bakery industry in India is the largest segment of the food processing industry and has enormous growth potential. More than 2,000 organized or semi-organized bakeries produce 1.3 million tonnes of bakery products in India, while 1,000,000 unorganized small-scale bakeries produce 1.7 million tonnes. North America held a significant share in the overall bread & baked food market in 2020 and is expected to continue its dominance over the forecast period owing to the rising number of bakeries in the region.
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