Published Date : Nov 21, 2016
ALBANY, NY, Nov 21, 2016: This market study on bakery industry discusses the present market dynamics and its growth prospects from 2016 to 2020. It details the key players operating in the market, their offerings and strategies, and their respective share in the market.
To calculate the overall market size, the report factors in the revenue generated from retail sales of bakery products. Based on the market size and other parameters such as historical data and competitive dynamics, the report estimates that the global bakery market will expand at a healthy CAGR of 6.55% during the period 2016-2020.
Common bakery products include cakes, pastries, cereals, biscuits, and breads. The bakery industry has experienced a sea change in the past couple of years on account of new technological innovations that have made it possible to make, store, and market various types of products across geographies. The demand has seen an uptick in tandem with the supply and the market is driven by several factors.
One of them is the burgeoning middle class with an increasing disposable income. The rising demand for healthy, organic products due to concerns about obesity and chronic lifestyle diseases such as diabetes also serves as a key growth driver. Manufacturers are using healthy ingredients, such as whole grains, to entice consumers. They are also labeling the products and listing the ingredients for consumers to make informed choices.
Yet another factor causing products to fly off the shelves is eye-catching and innovative packaging designs and materials. For instance, multi-packs and small-sized packs have egged companies to expand their product and material offerings in the bakery packaging market. With nuclear and single-person households on the rise, such packs are finding takers fast. Besides this, keeping in mind the busy schedule of consumers, manufacturers are adding new features characterized by their ease in use. Vendors are increasingly leveraging them as unique selling points to improve sales.
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The report also throws light on the market restraints such as lower shelf life of products pressurizing companies to sell them off fast and greater chances of contamination. To sort the problem, new packaging materials with improved mechanical barriers and antimicrobial properties have been developed. Further, research is being conducted on edible films in the food packaging sector in general, which will also lead to better preservation of products in the bakery market by using naturally available, environment-friendly materials with antimicrobial properties.
Having discussed the drivers and trends, the report mentions the key current trends in the market. One of them is organic baking, which uses organic products without any artificial additives. Another trend witnessed in the market is the growing demand for tamper-evident seals and other secure closure features. The report segments the market based on geography into the following: Europe, Americas, the Middle East and Africa (MEA), and Asia Pacific (APAC). Some of the key market players that find a mention in the report are: Flowers Food, Grupo Bimbo, Hostess Brands, and Yamazaki Baking.
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