Bakery Products Market Size To Reach $714.1 Billion By 2030

Bakery Products Market Growth & Trends

The global bakery product market size is expected to reach USD 714.1 billion by 2030, registering a CAGR of 5.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is majorly driven by the growing product demand owing to time-constrained lifestyles of customers resulting in increased on-the-go food consumption. The major companies are involved in continuous innovation and introduction of novel flavors owing to high industry rivalry. High demand for Ready-to-Eat (RTE) foods, owing to hectic lifestyle, is also contributing to the market growth. Cakes & pastries segment led the market in 2018, accounting for 27.4% of the global revenue share.

It was followed by cookies as the second-largest segment, owing to rapid urbanization, rising income levels, and altering food experiences. Many bakery product manufacturers are doing backward integration, which would help ensure and enhance the product quality. In addition, demand for bakery products is growing on account of their ability to meet dietary requirements. The specialty stores segment dominated the market in 2023. Specialty stores often focus on the niche preferences of consumers. The online segment is projected to grow at the fastest CAGR of 7.7% over the forecast period.

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Bakery Products Market Report Highlights

• Cakes & pastries dominated the market and accounted for a revenue share of 28.2% in 2023. Cakes and pastries are popular desserts around the globe. It has been a part of cultural and religious customs in history as well.

• The specialty stores segment dominated the market in 2023. Specialty stores often focus on the niche preferences of consumers.

• Europe bakery product market dominated the market with a revenue share of 34.0% in 2023.

• Asia Pacific bakery products market is anticipated to grow with the fastest CAGR of 6.7% over the forecasted period. The rising influence of western food culture in many Asian countries leads to an increase in demand for breads, pastries, and cakes in the region.

Bakery Products Market Segmentation

Grand View Research has segmented global bakery products market report based on product, distribution channel, and region:

Bakery Products Outlook (Revenue, USD Billion, 2018 - 2030)

• Bread & Rolls

• Cakes & Pastries

• Cookies

• Tortillas

• Pretzels

• Others

Bakery Products Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Hypermarkets & Supermarkets

• Specialty Stores

• Convenience Stores

• Online

• Others

Bakery Products Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia & New Zealand

• Middle East and Africa (MEA)

  • Saudi Arabia

• Central & South America

  • Brazil

List of Key Players in the Bakery Products Market

• Grupo Bimbo S.A.B. de C.V.

• Britannia Industries

• Nestlé S.A.

• General Mills, Inc.

• Campbell Soup Company

• Associated British Foods plc

• Kraft Foods Group, Inc.

• ITC Limited

• Finsbury Food Group Limited