Baked Foods Market Analysis

Global Baked Foods Market Overview

Baked Foods Market is projected to reach approximately USD 265.34 billion by 2032, at a CAGR of 8.12% from 2024 to 2032. The Baked Foods Industry value is expected to reach a valuation by the end of the forecast period. However, during the historic period that ended in 2022, The expected rate of growth for the market during the period across the various industry vertices.

The demand for bakery products is increasing owing to the variety and taste. These products are being prepared as a normal cooking process in the presence of dry heat in electric appliances like hot stones and ashes, and ovens. Baked Foods Market is an extensive portfolio attached to the products that include major varieties like pieces of bread and cookies, cakes and cakes, biscuits and cupcakes, tarts, sweet rolls, pies, donuts alongside refrigerated products. Bread is considered a staple food that is a good source of many nutrients that have both domestic and commercial use. One of the most popular bakery products is biscuits which are rising at a good scale. The baking methods are transforming owing to the technology transformation, alongside the modern methods that are gaining momentum over the traditional and old methods during the forecast period.

COVID 19 Analysis

The pandemic has increased the healthcare concerns of people. The population across the globe is not stepping out of their houses to safeguard themselves from contracting the coronavirus disease. Also, they are opting for healthier products to eat, and ditching the Baked Foods Market for these may act as a carrier of the virus and transmit through hands. Also, the production of bakery products is low due to the increased production and manufacturing by the market players that are spread across various regions. Owing to the lockdown, the people are forced to close their production units which are also backed by other reasons like the unavailability of the workforce to carry out processes related to the large-scale production and meet the market’s demand for the maintenance of a proper supply chain mechanism.

The baked foods market size is expecting good growth owing to the people finding a good time investment in learning baking as a hobby. People are recognizing their passion and beginning with the bakery business ideas. The government is supporting such initiatives and also, collaborating with the key market players to enhance the products, their flavors, presentation, availability, and much more. All these factors will help the market operations revive during the forecast period.

Competitive Landscape

The market is exposed to a highly competitive degree and the significant presence of the various market players across the globe cater to the vibrant audience’s demands. Also, the discussion of the prominent players of the Baked Foods Market is necessary for the report to help and draw a competitive graph amongst the players and also, have an idea about the major companies and regions by discussing the Baked Foods Market recent developments. The key market players functional across 5 major geographies are as follows:

• Finsbury Food Group Plc


• Grupo Bimbo


• Mondelez International


• Britannia Industries Ltd


• General Mills Inc.

Market Dynamics

Drivers

A substantial level of Baked Foods Market growth is expected for the market during the forecast period. The Bureau of Labor Statistics has circulated statistics that predict a rise in the quantum of baker population to 5% during the period. This growth is expected to happen at a faster rate in comparison to other occupations and hence, this will positively impact the global market growth. There is a huge rise in the demand for a variety of food products across the globe which will help in the enhancement and expansion of the market operations. These are major drivers for the market during the forecast period.

Restraints

People are witnessing an increase in awareness related to the fact of leading a healthy lifestyle and reducing sugar intake. Also, for a fitter self, people are largely opting for the diet plans given by nutritionists and dieticians that are likely to act as major restraints in the market growth during the forecast period.

Technology Analysis

The world population is rising and there are vibrant changes in tastes and food preferences. Also, with the rise in the disposable income of people, they are increasing their purchasing capacity that bringing a positive impact on the global Baked Foods Market. The market players are working on the easy availability of bakery products in both convenience stores and supermarkets which promise a fruitful future for Baked Foods Market and operations by the end of the forecast period.

• To get the Baked Foods Market insights and study the impact of the pandemic on the market functions based on the viewpoints as presented by the market experts and industry leaders


• To get a better market analysis based on the market dynamics and the functions undertaken by the key market players and market segments spread across various regions across the globe


• To draw a competitive market graph amongst the key market players and understand their potential and production capacity by discussing the market’s recent developments by the end of the forecast period.

Segmentation

The baked foods market share is increasing owing to its rising demand amongst the population of various economies across the world. The market segments help in having an idea about the scope of the market which further helps to depict the market valuation in the forecast period that ends in 2030. The segments are as follows:

Based on the Product Type

The Baked Foods Market deals in a variety of products like pieces of bread, biscuits, cakes, rolls, pastries, and rusks amongst others.

Based on Distribution Channels

The key players of Baked Foods Market use a lane of distribution channels to make the bakery products available to the market end-users. These are the supermarkets, hypermarkets, online shops, independent retailers, alongside the convenience stores amongst others.

Based on Regions

Globally, the bakery market trends are currently functional across 5 major geographies of the world. These are the Middle East and African continent, the North American region, APAC region, European nations, alongside Latin America.

Types of Baked Goods

Baked goods are made with dough or batter and cooked by baking, including breads, pastries, and desserts.

The European regions are likely to hold the largest Baked Foods Market share and have the maximum revenue. The main reason behind this is that the Western European region is working on large-scale development of the bakery products and gaining dominance over the trends of the market prevailing in the Eastern European market. Also, the sale of biscuits and bread is very high as they enjoy the advantage of being convenient and easily available food products. Also, this market has well-established delivery channels and a reliable way that skillfully maintains the supply chain mechanism of the products towards the end-users.

Recent Developments

The Agriculture and Horticulture Development Board, UK, is expecting a record in the average growth and demand for the products goods at a 10% rate for the upcoming three years. The share of bakery products from the food category stands at a round figure of 35%.

• Mondelez International (known for Oreo cookies, Chips Ahoy!, and Ritz crackers) acquired Greece-based snacks maker Chipita for $2 billion in February 2024. This expands their reach in the European market


• Grupo Bimbo, the world's largest baking company known for its namesake brand and Sara Lee products, is a major player in the RTE (Ready-to-Eat) baked goods market. The overall RTE market is expected to reach $208 billion by 2030, due to the rising popularity of convenience foods 

• Owing to the rise of population in North American countries like the US and Canada, there is a rise in lifestyle changes and hence, people are contracting diabetes. However, to crave the sugar cravings, the demand for fat-free, sugar-free, and gluten-free bakery products is on a rise that will help the Baked Foods Market to grow at a good scale.


• Owing to the rising awareness related to the capability of sugar-free products helping to resolve issues related to health concerns like diabetes, bloating, obesity, and indigestion, the demand is at an all-time high in the European regions and is expected to help the region grow at an excellent rate by the end of the forecast period. The market players are producing similar products on a large scale to cater to their needs.


• The APAC region is experiencing the rise of a young population that has vibrant and different demands. Owing to their fondness of fast food and bakery products, the market players in this region are investing in innovation and producing baking products like pastries, cookies, and cakes, and simultaneously catering to their health goals and concerns. These products are available in various forms like low-sugar, zero-sugar, made of brown-sugar, gluten-free products, and much more, to serve a larger audience during the forecast period.

Report Outlook

The report helps to discuss the market dynamics and the way they’ll help the market reach the expected valuation figures. The report discusses Baked Foods Market segments that affect the revenue cycle of the market and also helps in analyzing the competitive degree that prevails amongst the key market players. Also, the report analyzes the recent developments by the players.