The Bakery & Confectionary Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Bakery & Confectionary Global Market Report 2024, The bakery & confectionary market size has grown strongly in recent years. It will grow from $907.39 billion in 2023 to $960.09 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to health-conscious offerings, artisanal and crafted treats, global flavor fusion, functional ingredients, interactive and experiential products.
The bakery & confectionary market size is expected to see strong growth in the next few years. It will grow to $1174.03 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to changing consumer lifestyles, cultural and ethnic influences, celebrations and festivities, retailing and merchandising strategies, globalization and cross-cultural flavors. Major trends in the forecast period include digitalization and online ordering, packaging innovations, global flavor fusion, customization and personalization trends, innovations in baking techniques.
The world's population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for food. Supply for materials used in bakery and confectionary and trade volumes will have to increase to meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for bakery and confectionery products due to the rising population during the forecast period.
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The bakery & confectionary market covered in this report is segmented –
1) By Type: Breakfast Cereal, Sugar And Confectionery Products, Bread And Bakery Products, Cookie, Cracker, Pasta, And Tortilla
2) By Price Point: Economy, Mid-Range, Luxury
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
Subsegments Covered: Oats Breakfast Cereal, Grains Breakfast Cereal, Other Breakfast Cereal, Sugar, Confectionery Product, Bread, Cake And Pastries, Other Bread And Bakery Product, Cookie and Cracker, Dry Pasta, Dough, and Flour Mixes, Tortilla
Confectionery manufacturers are increasingly using natural flavors in confectionery products. Innovation has been key to the development of the confectionery market. According to the United States Food and Drug Administration, the term natural flavor or natural flavoring means the essential oil, oleoresin, essence or extractive, protein hydrolysate, distillate, or any product of roasting, heating, or enzymolysis, which contains the flavoring constituents derived from a spice, fruit or fruit juice, vegetable or vegetable juice, etc. Using natural flavors manufacturers are imparting new and unique taste profiles into their products. For instance, Zaabar, Rococo Chocolates, and Rozsavologyi Csokolade are manufacturing chocolate bars with cardamom flavoring.
The bakery & confectionary market report table of contents includes:
1. Executive Summary
2.Bakery & Confectionary Market Characteristics
3. Bakery & Confectionary Market Trends And Strategies
4. Bakery & Confectionary Market analysis
5. Bakery & Confectionary Market Size And Growth
6.Bakery & Confectionary Segmentation
7.Bakery & Confectionary Regional And Country Analysis
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27.Bakery & Confectionary Competitive Landscape And Company Profiles
28.Bakery & Confectionary Key Mergers And Acquisitions
29.Bakery & Confectionary Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Nestle S.A.
- PepsiCo Inc.
- Mars Inc.
- Mondelez International
- Roshen Confectionery Corp.
- The Kraft Heinz Company
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Bakery & Confectionary Global Market Report 2021 by The Business Research Company is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact – both negative and positive – of COVID-19 on the bakery & confectionary industry gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
This includes revised market numbers according to the effects of the coronavirus and the expected bakery & confectionary market growth numbers 2021-2030.
View Complete Report:https://www.thebusinessresearchcompany.com/report/bakery-and-confectionary-global-market-report-2020-30-covid-19-impact-and-recovery The Bakery & Confectionary Global Market Report 2020-30 by The Business Research Company provides an in-depth analysis of the global bakery & confectionary market and covers both the historic period, 2015 to 2020, and the forecast period, 2020 to 2030.
The report evaluates the market and major economies across the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.The Bakery & Confectionary Global Market Report 2021 covers bakery & confectionary market drivers, bakery & confectionary market trends, bakery & confectionary market growth rate, bakery & confectionary market major players, player-adopted strategies in the market, and bakery & confectionary market size.The global bakery & confectionary market is expected to grow from $887.82 billion in 2020 to $938.97 billion in 2021 at a compound annual growth rate (CAGR) of 5.8%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
