14 March 2019: The Global Bakery Product Market is expected to display higher growth rate over the next
seven years. The market is subject to witness a substantial growth due to the
varying food preferences and increasing consummation of packaged and processed
food. Additionally, factors such as growing need for longer shelf life of food
product and rising need for organic food products are anticipated to boost the
market growth over the forecast period. Globally, the market is predicted to
generate massive revenue over the next seven years, providing numerous
opportunities for market players to invest for research and development in the
bakery product market.
Rising
adoption of enzymes, additives, softening agents and baking powders in the
baked goods category such as bread, patties, muffins, rolls, tartlets and tarts
are prolonging life span of the baked goods. Growing demand for superior
quality bakery products with enhanced flavor, texture, taste and odor are
estimated to complement the growth of baking product market in the upcoming
years. Additionally, increasing consummation and changing user preference
towards baked products such as bread, cookies, biscuits, muffins, rolls,
tartlets and tarts are further expanding market reach of the baking products
market.
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Rising
inclination of end users towards bakery products and increasing concern among
general population for healthy dietary supplements is anticipated to drive the
market demand during the forecast period. Recent developments in baking
industry and introduction of innovative products are spurring the demand for
bakery products in both developed and developing economies across the globe in
near future. However, growing prices, health consciousness among young
population, and stringent laws & regulation regarding excessive use of
artificial flavors are negatively affecting market growth in the recent years.
The
market is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the changing food habits, increasing demand for demand for packaged and
processed food, and existence of prominent industry players in the region.
Asia-Pacific region is predicted to hold major market share in the bakery
product market with massive growth in forecast period. Countries such as India,
China and Singapore are leading the Asia-Pacific market with shifting
preference towards western style food, rising per capita income, and
significant investment by leading industry players considering potential growth
opportunities in the region.
The
key players in the bakery product market are Bahlsen GmbH & Co., KG, Allied
Bakeries, Inc., BAB, Inc., Barilla Holding Societa per Azioni, Inc., Bakers
Delight, Britannia Industries Ltd., ITC, Inc., Dunkin' Donuts, Inc., Bruegger's
Enterprises, Inc., Einstein Noah Restaurant Group, Inc., Flowers Foods, Inc.,
Nestlé S.A., Kellogg Company, Mondelez International, Inc., McDonald's Co.,
Warburton’s, Ltd. and Finsbury Food Group.
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