The global bakery market size is poised to grow by USD 116.14 billion during 2020-2024, progressing at a CAGR of over 4% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Bakery Market 2020-2024 (Graphic: Business Wire)
In-store bakeries in supermarkets and clubhouses are increasingly becoming popular among consumers. They offer products that are of high quality, fresh, and also convenient for consumers as they require little labor and can be prepared in a short time. Also, many supermarkets and hypermarkets are introducing in-store bakeries that produce private label bakery products at lower prices compared to established brand products. All these factors are fueling the growth of the global bakery market.
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The major bakery market growth came from the bread rolls segment in 2019. This is due to the increasing demand for gluten-free bread among consumers.
APAC was the largest market for bakery in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the expansion of global players in the region.
The global bakery market is fragmented. Associated British Foods Plc, Britannia Industries Ltd., Campbell Soup Co., Flowers Foods Inc., Grupo Bimbo SAB de CV, JAB Holding Co. Sarl, Kellogg Co., Mondelez International Inc., Warburtons Ltd., and Yamazaki Baking Co. Ltd. are some of the major market participants. To help clients improve their market position, this bakery market forecast report provides a detailed analysis of the market leaders.
As the business impact of COVID-19 spreads, the global bakery market 2020-2024 is expected to have neutral. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/bakery-market-industry-analysis
Rising urbanization and changing consumer lifestyles will be a key market trend
Rising urbanization and changing lifestyles of people have led to a considerable shift in dietary habits. Besides, the rise in purchasing power and expanding working-class population has further increased the demand for on-the-go foods such as rolls, sandwiches, and croissants. This has increased the number of in-store bakeries and artisanal bakeries around busy streets and near corporate parks. These factors are positively influencing the growth of the global bakery market.
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Bakery Market 2020-2024: Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist bakery market growth during the next five years
Estimation of the bakery market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the bakery market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of bakery market vendors
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Value chain analysis
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
Five Forces Summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market Segmentation by Product
Comparison by Product placement
Bread and rolls - Market size and forecast 2019-2024
Cakes and pastries - Market size and forecast 2019-2024
Cookies - Market size and forecast 2019-2024
Others - Market size and forecast 2019-2024
Market opportunity by Product
APAC - Market size and forecast 2019-2024
Europe - Market size and forecast 2019-2024
North America - Market size and forecast 2019-2024
South America - Market size and forecast 2019-2024
MEA - Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
Drivers, Challenges, and Trends
Volume driver - Demand led growth
Volume driver - Supply led growth
Volume driver - External factors
Volume driver - Demand shift in adjacent markets
Price driver - Inflation
Price driver - Shift from lower to higher-priced units
Market positioning of vendors
Associated British Foods Plc
Britannia Industries Ltd.
Campbell Soup Co.
Flowers Foods, Inc.
Grupo Bimbo SAB de CV
JAB Holding Co. Sarl
Mondelez International Inc.
Yamazaki Baking Co. Ltd.
Scope of the report
Currency conversion rates for US$
List of abbreviations
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