Bakery Products Market Research Report Forecast till 2028

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FORECAST TO 2028
GLOBAL BAKERY PRODUCTS
MARKET RESEARCH REPORT
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FORECAST TO 2028
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FORECAST TO 2028
1.1
MARKET ATTRACTIVENESS ANALYSIS ............................................................................................................................ 16
1.1.1
GLOBAL BAKERY PRODUCTS MARKET, BY PRODUCT TYPE ....................................................................................... 17
1.1.2
GLOBAL BAKERY PRODUCTS MARKET, CATEGORY .................................................................................................... 18
1.1.3
GLOBAL BAKERY PRODUCTS MARKET, DISTRIBUTION CHANNEL ............................................................................. 19
1.1.4
GLOBAL BAKERY PRODUCTS MARKET, BY REGION .................................................................................................... 20
2.1
DEFINITION ....................................................................................................................................................................... 21
2.2
SCOPE OF THE STUDY ...................................................................................................................................................... 21
2.3
RESEARCH OBJECTIVE ..................................................................................................................................................... 21
2.4
MARKET STRUCTURE ....................................................................................................................................................... 22
2.5
KEY BUYING CRITERIA ...................................................................................................................................................... 23
3.1
RESEARCH PROCESS ........................................................................................................................................................ 24
3.2
PRIMARY RESEARCH ........................................................................................................................................................ 25
3.3
SECONDARY RESEARCH ................................................................................................................................................... 26
3.4
MARKET SIZE ESTIMATION .............................................................................................................................................. 27
3.5
FORECAST MODEL ............................................................................................................................................................ 28
3.6
LIST OF ASSUMPTIONS & LIMITATIONS .......................................................................................................................... 29
4.1
OVERVIEW ......................................................................................................................................................................... 30
4.2
DRIVERS ............................................................................................................................................................................ 31
4.2.1
RISING DEMAND FOR CONVENIENCE FOOD................................................................................................................ 31
4.2.2
MOUNTING GROWTH OF FOODSERVICE INDUSTRY ................................................................................................... 31
4.2.3
GROWTH OF THE ORGANIZED RETAIL SECTOR IN ASIA-PACIFIC .............................................................................. 31
4.3
4.3.1
4.4
RESTRAINT........................................................................................................................................................................ 33
HIGH PRODUCT COST OF FROZEN BAKERY ................................................................................................................ 33
OPPORTUNITIES ............................................................................................................................................................... 33
4.4.1
DEVELOPMENT OF THE COLD CHAIN MARKET IN EMERGING ECONOMIES .............................................................. 33
4.4.2
DEMAND FOR ORGANIC PRODUCTS ............................................................................................................................ 34
4.5
4.5.1
5.1
CHALLENGE ...................................................................................................................................................................... 34
BRANDING ISSUES ....................................................................................................................................................... 34
VALUE CHAIN ANALYSIS .................................................................................................................................................. 35
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FORECAST TO 2028
5.1.1
RAW MATERIAL PROCUREMENT ................................................................................................................................. 36
5.1.2
PROCESSING ................................................................................................................................................................ 36
5.1.3
PACKAGING .................................................................................................................................................................. 36
5.2
SUPPLY CHAIN ANALYSIS ................................................................................................................................................ 37
5.3
PORTER’S FIVE FORCES MODEL ....................................................................................................................................... 38
5.3.1
THREAT OF NEW ENTRANTS ....................................................................................................................................... 38
5.3.2
BARGAINING POWER OF SUPPLIERS ........................................................................................................................... 39
5.3.3
BARGAINING POWER OF BUYERS ................................................................................................................................ 39
5.3.4
THREAT OF SUBSTITUTES ........................................................................................................................................... 39
5.3.5
INTENSITY OF RIVALRY................................................................................................................................................ 39
5.4
IMPACT OF COVID-19 OUTBREAK ON THE GLOBAL BAKERY PRODUCTS MARKET ........................................................ 39
5.4.1
IMPACT ON PRODUCTION ............................................................................................................................................ 39
5.4.2
IMPACT ON SUPPLY CHAIN ......................................................................................................................................... 40
5.4.3
IMPACT ON SALES (FOODSERVICE VS. FOOD RETAIL) ............................................................................................... 40
5.4.4
IMPACT ON PRICING .................................................................................................................................................... 40
5.4.5
IMPACT ON CONSUMER BUYING BEHAVIOR ............................................................................................................... 40
5.4.6
IMPACT ON STORE-BASED VS. NON-STORE-BASED SALES ........................................................................................ 41
5.5
LIST OF MAJOR MANUFACTURERS, BY PRODUCT TYPE................................................................................................. 41
6.1
OVERVIEW ......................................................................................................................................................................... 43
6.2
BREADS ............................................................................................................................................................................. 43
6.3
CAKES & PASTRIES ........................................................................................................................................................... 43
6.4
COOKIES & BISCUITS ........................................................................................................................................................ 43
6.5
BAGELS ............................................................................................................................................................................. 43
6.6
DONUTS............................................................................................................................................................................. 44
6.7
PIZZA & PIZZA CRUST ...................................................................................................................................................... 44
6.8
PIES & TARTS .................................................................................................................................................................... 44
6.9
BROWNIES......................................................................................................................................................................... 44
6.10
OTHERS ............................................................................................................................................................................. 44
6.10.1 GLOBAL BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2019–2028......................... 46
7.1
OVERVIEW ......................................................................................................................................................................... 48
7.2
FRESH ............................................................................................................................................................................... 48
7.3
FROZEN ............................................................................................................................................................................. 48
7.3.1
8.1
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY CATEGORY, 2019–2028 ................................ 49
OVERVIEW ......................................................................................................................................................................... 50
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FORECAST TO 2028
8.2
FOOD RETAIL..................................................................................................................................................................... 50
8.3
FOODSERVICE ................................................................................................................................................................... 50
8.3.1
9.1
9.1.1
9.2
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2019–2028 ......... 51
OVERVIEW ......................................................................................................................................................................... 53
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028...................................... 54
NORTH AMERICA .............................................................................................................................................................. 55
9.2.1
NORTH AMERICA BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028 ................... 55
9.2.2
NORTH AMERICA BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2019–2028.......... 57
9.2.3
NORTH AMERICA BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY CATEGORY, 2019–2028 ................. 59
9.2.4
NORTH AMERICA BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2019–2028
..................................................................................................................................................................................... 59
9.2.5
US.................................................................................................................................................................................. 61
9.2.6
CANADA ........................................................................................................................................................................ 64
9.2.7
MEXICO ......................................................................................................................................................................... 67
9.3
EUROPE ............................................................................................................................................................................. 70
9.3.1
EUROPE BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028 .................................. 70
9.3.2
EUROPE BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2019–2028 ........................ 72
9.3.3
EUROPE BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY CATEGORY, 2019–2028 ................................ 74
9.3.4
EUROPE BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2019–2028 ......... 74
9.3.5
GERMANY ..................................................................................................................................................................... 76
9.3.6
UK ................................................................................................................................................................................. 79
9.3.7
FRANCE......................................................................................................................................................................... 82
9.3.8
SPAIN ............................................................................................................................................................................ 85
9.3.9
ITALY............................................................................................................................................................................. 88
9.3.10 REST OF EUROPE.......................................................................................................................................................... 91
9.4
ASIA-PACIFIC .................................................................................................................................................................... 94
9.4.1
ASIA-PACIFIC BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028 ......................... 94
9.4.2
ASIA-PACIFIC BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2019–2028 ................ 96
9.4.3
ASIA-PACIFIC BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY CATEGORY, 2019–2028 ....................... 98
9.4.4
ASIA-PACIFIC BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2019–2028. 98
9.4.5
CHINA ........................................................................................................................................................................... 100
9.4.6
INDIA ............................................................................................................................................................................. 103
9.4.7
JAPAN ........................................................................................................................................................................... 106
9.4.8
AUSTRALIA & NEW ZEALAND ....................................................................................................................................... 109
9.4.9
REST OF ASIA-PACIFIC ................................................................................................................................................. 112
9.5
9.5.1
REST OF THE WORLD........................................................................................................................................................ 115
REST OF THE WORLD BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 ................ 115
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FORECAST TO 2028
9.5.2
REST OF THE WORLD BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2019–2028 ... 117
9.5.3
REST OF THE WORLD BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY CATEGORY, 2019–2028 .......... 119
9.5.4
REST OF THE WORLD BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2019–
2028............................................................................................................................................................................. 119
9.5.5
SOUTH AMERICA .......................................................................................................................................................... 121
9.5.6
MIDDLE EAST................................................................................................................................................................ 124
9.5.7
AFRICA .......................................................................................................................................................................... 127
10.1
COMPETITIVEOVERVIEW .................................................................................................................................................. 130
10.2
COMPETITIVE BENCHMARKING ....................................................................................................................................... 131
10.3
KEY DEVELOPMENTS & GROWTH STRATEGIES............................................................................................................... 132
10.3.1 NEW PRODUCT LAUNCH .............................................................................................................................................. 132
10.3.2 MERGER & ACQUISITION .............................................................................................................................................. 132
11.1
GENERAL MILLS, INC. ....................................................................................................................................................... 134
11.1.1 COMPANY OVERVIEW .................................................................................................................................................. 134
11.1.2 FINANCIAL OVERVIEW ................................................................................................................................................. 135
11.1.3 PRODUCTS OFFERINGS ................................................................................................................................................ 135
11.1.4 KEY DEVELOPMENTS ................................................................................................................................................... 140
11.1.5 SWOT ANALYSIS........................................................................................................................................................... 141
11.1.6 KEY STRATEGIES .......................................................................................................................................................... 141
11.2
GRUPO BIMBO, S.A.B. DE C.V. .......................................................................................................................................... 142
11.2.1 COMPANY OVERVIEW .................................................................................................................................................. 142
11.2.2 FINANCIAL OVERVIEW ................................................................................................................................................. 142
11.2.3 PRODUCTS OFFERINGS ................................................................................................................................................ 143
11.2.4 KEY DEVELOPMENTS ................................................................................................................................................... 147
11.2.5 SWOT ANALYSIS........................................................................................................................................................... 148
11.2.6 KEY STRATEGIES .......................................................................................................................................................... 148
11.3
LANTMÄNNEN UNIBAKE ................................................................................................................................................... 149
11.3.1 COMPANY OVERVIEW .................................................................................................................................................. 149
11.3.2 FINANCIAL OVERVIEW ................................................................................................................................................. 149
11.3.3 PRODUCTS OFFERINGS ................................................................................................................................................ 150
11.3.4 KEY DEVELOPMENTS ................................................................................................................................................... 151
11.3.5 SWOT ANALYSIS........................................................................................................................................................... 151
11.3.6 KEY STRATEGIES .......................................................................................................................................................... 152
11.4
BRITANNIA INDUSTRIES LIMITED .................................................................................................................................... 153
11.4.1 COMPANY OVERVIEW .................................................................................................................................................. 153
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FORECAST TO 2028
11.4.2 FINANCIAL OVERVIEW ................................................................................................................................................. 154
11.4.3 PRODUCTS OFFERINGS ................................................................................................................................................ 155
11.4.4 KEY DEVELOPMENTS ................................................................................................................................................... 155
11.4.5 SWOT ANALYSIS........................................................................................................................................................... 156
11.4.6 KEY STRATEGIES .......................................................................................................................................................... 156
11.5
BARILLA HOLDING S.P.A................................................................................................................................................... 157
11.5.1 COMPANY OVERVIEW .................................................................................................................................................. 157
11.5.2 FINANCIAL OVERVIEW ................................................................................................................................................. 157
11.5.3 PRODUCTS OFFERINGS ................................................................................................................................................ 158
11.5.4 SWOT ANALYSIS........................................................................................................................................................... 158
11.5.5 KEY STRATEGIES .......................................................................................................................................................... 159
11.6
MONDELEZ INTERNATIONAL, INC. ................................................................................................................................... 160
11.6.1 COMPANY OVERVIEW .................................................................................................................................................. 160
11.6.2 FINANCIAL OVERVIEW ................................................................................................................................................. 160
11.6.3 PRODUCTS OFFERINGS ................................................................................................................................................ 161
11.6.4 KEY DEVELOPMENTS ................................................................................................................................................... 161
11.7
ASSOCIATED BRITISH FOODS PLC ................................................................................................................................... 162
11.7.1 COMPANY OVERVIEW .................................................................................................................................................. 162
11.7.2 FINANCIAL OVERVIEW ................................................................................................................................................. 162
11.7.3 PRODUCTS OFFERINGS ................................................................................................................................................ 163
11.8
FINSBURY FOOD GROUP PLC ........................................................................................................................................... 164
11.8.1 COMPANY OVERVIEW .................................................................................................................................................. 164
11.8.2 FINANCIAL OVERVIEW ................................................................................................................................................. 164
11.8.3 PRODUCTS OFFERINGS ................................................................................................................................................ 165
11.9
PLADIS GLOBAL (UNITED BISCUITS) ................................................................................................................................ 166
11.9.1 COMPANY OVERVIEW .................................................................................................................................................. 166
11.9.2 PRODUCTS OFFERINGS ................................................................................................................................................ 166
11.9.3 KEY DEVELOPMENTS ................................................................................................................................................... 167
11.10 DUNKIN BRANDS............................................................................................................................................................... 168
11.10.1 COMPANY OVERVIEW .................................................................................................................................................. 168
11.10.2 FINANCIAL OVERVIEW ................................................................................................................................................. 168
11.10.3 PRODUCTS OFFERINGS ................................................................................................................................................ 169
12.1
REFERENCES..................................................................................................................................................................... 170
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FORECAST TO 2028
TABLE 1
PRIMARY INTERVIEWS
25
TABLE 2
LIST OF ASSUMPTIONS & LIMITATIONS
29
TABLE 3
LIST OF MAJOR MANUFACTURERS, BY PRODUCT TYPE
41
TABLE 4
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
46
TABLE 5
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
47
TABLE 6
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY CATEGORY, 2019–2028 (USD BILLION)
49
TABLE 7
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
49
TABLE 8
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
51
TABLE 9
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
52
TABLE 10
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD BILLION)
54
TABLE 11
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES, BY REGION, 2019–2028 (MILLION TONS)
54
TABLE 12
NORTH AMERICA: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028 (USD BILLION)
55
TABLE 13
NORTH AMERICA: MARKET ESTIMATES, BY COUNTRY, 2019–2028 (MILLION TONS)
56
TABLE 14
NORTHE AMERICA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
57
TABLE 15
NORTH AMERICA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
58
TABLE 16
NORTH AMERICA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
59
TABLE 17
NORTH AMERICA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
59
TABLE 18
NORTH AMERICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
59
TABLE 19
NORTH AMERICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
60
TABLE 20
US: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
61
TABLE 21
US: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
62
TABLE 22
US: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
62
TABLE 23
US: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
63
TABLE 24
US: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
63
TABLE 25
US: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
63
TABLE 26
CANADA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
64
TABLE 27
CANADA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
65
TABLE 28
CANADA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
65
TABLE 29
CANADA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
66
TABLE 30
CANADA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
66
TABLE 31
CANADA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
66
TABLE 32
MEXICO: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
67
TABLE 33
MEXICO: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
68
TABLE 34
MEXICO: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
68
TABLE 35
MEXICO: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
69
TABLE 36
MEXICO: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
69
TABLE 37
MEXICO: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
69
TABLE 38
EUROPE: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028 (USD BILLION)
70
TABLE 39
EUROPE: MARKET ESTIMATES, BY COUNTRY, 2019–2028 (MILLION TONS)
71
TABLE 40
EUROPE: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
72
TABLE 41
EUROPE: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
73
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FORECAST TO 2028
TABLE 42
EUROPE: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
74
TABLE 43
EUROPE: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
74
TABLE 44
EUROPE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
74
TABLE 45
EUROPE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
75
TABLE 46
GERMANY: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
76
TABLE 47
GERMANY: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
77
TABLE 48
GERMANY: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
77
TABLE 49
GERMANY: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
78
TABLE 50
GERMANY: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
78
TABLE 51
GERMANY: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
78
TABLE 52
UK: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
79
TABLE 53
UK: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
80
TABLE 54
UK: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
80
TABLE 55
UK: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
81
TABLE 56
UK: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
81
TABLE 57
UK: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
81
TABLE 58
FRANCE: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
82
TABLE 59
FRANCE: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
83
TABLE 60
FRANCE: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
83
TABLE 61
FRANCE: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
84
TABLE 62
FRANCE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
84
TABLE 63
FRANCE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
84
TABLE 64
SPAIN: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
85
TABLE 65
SPAIN: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
86
TABLE 66
SPAIN: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
86
TABLE 67
SPAIN: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
87
TABLE 68
SPAIN: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
87
TABLE 69
SPAIN: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
87
TABLE 70
ITALY: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
88
TABLE 71
ITALY: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
89
TABLE 72
ITALY: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
89
TABLE 73
ITALY: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
90
TABLE 74
ITALY: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
90
TABLE 75
ITALY: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
90
TABLE 76
REST OF EUROPE: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
91
TABLE 77
REST OF EUROPE: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
92
TABLE 78
REST OF EUROPE: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
92
TABLE 79
REST OF EUROPE: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
93
TABLE 80
REST OF EUROPE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
93
TABLE 81
REST OF EUROPE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
93
TABLE 82
ASIA-PACIFIC: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028 (USD BILLION)
94
TABLE 83
ASIA-PACIFIC: MARKET ESTIMATES, BY COUNTRY, 2019–2028 (MILLION TONS)
95
TABLE 84
ASIA-PACIFIC: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
96
TABLE 85
ASIA-PACIFIC: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
97
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FORECAST TO 2028
TABLE 86
ASIA-PACIFIC: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
98
TABLE 87
ASIA-PACIFIC: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
98
TABLE 88
ASIA-PACIFIC: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
98
TABLE 89
ASIA-PACIFIC: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
99
TABLE 90
CHINA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
100
TABLE 91
CHINA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
101
TABLE 92
CHINA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
101
TABLE 93
CHINA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
102
TABLE 94
CHINA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
102
TABLE 95
CHINA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
102
TABLE 96
INDIA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
103
TABLE 97
INDIA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
104
TABLE 98
INDIA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
104
TABLE 99
INDIA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
105
TABLE 100
INDIA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
105
TABLE 101
INDIA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
105
TABLE 102
JAPAN: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
106
TABLE 103
JAPAN: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
107
TABLE 104
JAPAN: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
107
TABLE 105
JAPAN: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
108
TABLE 106
JAPAN: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
108
TABLE 107
JAPAN: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
108
TABLE 108
AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
109
TABLE 109
AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
110
TABLE 110
AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
110
TABLE 111
AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
111
TABLE 112
AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
111
TABLE 113
AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
111
TABLE 114
REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
112
TABLE 115
REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
113
TABLE 116
REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
113
TABLE 117
REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
114
TABLE 118
REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
114
TABLE 119
REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
114
TABLE 120
REST OF THE WORLD: MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD BILLION)
115
TABLE 121
REST OF THE WORLD: MARKET ESTIMATES, BY COUNTRY, 2019–2028 (MILLION TONS)
116
TABLE 122
REST OF THE WORLD: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
117
TABLE 123
REST OF THE WORLD: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
118
TABLE 124
REST OF THE WORLD: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
119
TABLE 125
REST OF THE WORLD: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
119
TABLE 126
REST OF THE WORLD: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
119
TABLE 127
REST OF THE WORLD: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
120
TABLE 128
SOUTH AMERICA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
121
TABLE 129
SOUTH AMERICA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
122
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FORECAST TO 2028
TABLE 130
SOUTH AMERICA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
122
TABLE 131
SOUTH AMERICA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
123
TABLE 132
SOUTH AMERICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
123
TABLE 133
SOUTH AMERICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
123
TABLE 134
MIDDLE EAST: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
124
TABLE 135
MIDDLE EAST: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
125
TABLE 136
MIDDLE EAST: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
125
TABLE 137
MIDDLE EAST: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
126
TABLE 138
MIDDLE EAST: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
126
TABLE 139
MIDDLE EAST: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
126
TABLE 140
AFRICA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
127
TABLE 141
AFRICA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
128
TABLE 142
AFRICA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
128
TABLE 143
AFRICA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
129
TABLE 144
AFRICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
129
TABLE 145
AFRICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
129
TABLE 146
NEW PRODUCT LAUNCH
132
TABLE 147
MERGER & ACQUISITION
132
TABLE 148
GENERAL MILLS, INC.: PRODUCTS OFFERINGS
135
TABLE 149
GENERAL MILLS, INC.: KEY DEVELOPMENTS
140
TABLE 150
GRUPO BIMBO, S.A.B. DE C.V.: PRODUCTS OFFERINGS
143
TABLE 151
GRUPO BIMBO, S.A.B. DE C.V.: KEY DEVELOPMENTS
147
TABLE 152
LANTMÄNNEN UNIBAKE: PRODUCTS OFFERINGS
150
TABLE 153
LANTMÄNNEN UNIBAKE: KEY DEVELOPMENTS
151
TABLE 154
BRITANNIA INDUSTRIES LIMITED: PRODUCTS OFFERINGS
155
TABLE 155
BRITANNIA INDUSTRIES LIMITED : KEY DEVELOPMENTS
155
TABLE 156
BARILLA HOLDING S.P.A.: PRODUCTS OFFERINGS
158
TABLE 157
MONDELEZ INTERNATIONAL, INC.: PRODUCTS OFFERINGS
161
TABLE 158
MONDELEZ INTERNATIONAL, INC.: KEY DEVELOPMENTS
161
TABLE 159
ASSOCIATED BRITISH FOODS PLC: PRODUCTS OFFERINGS
163
TABLE 160
FINSBURY FOOD GROUP PLC : PRODUCTS OFFERINGS
165
TABLE 161
PLADIS GLOBAL.: PRODUCTS OFFERINGS
166
TABLE 162
MONDELEZ INTERNATIONAL, INC.: KEY DEVELOPMENTS
167
TABLE 163
DUNKIN BRANDS: PRODUCTS OFFERINGS
169
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FORECAST TO 2028
FIGURE 1
MARKET SYNOPSIS
15
FIGURE 2
MARKET ATTRACTIVENESS ANALYSIS: GLOBAL BAKERY PRODUCTS MARKET, 2020
16
FIGURE 3
GLOBAL BAKERY PRODUCTS MARKET ANALYSIS, BY PRODUCT TYPE, 2020
17
FIGURE 4
GLOBAL BAKERY PRODUCTS MARKET ANALYSIS, BY CATEGORY, 2020
18
FIGURE 5
GLOBAL BAKERY PRODUCTS MARKET ANALYSIS, BY DISTRIBUTION CHANNEL, 2020
19
FIGURE 6
GLOBAL BAKERY PRODUCTS MARKET ANALYSIS, BY REGION, 2020
20
FIGURE 7
GLOBAL BAKERY PRODUCTS MARKET: STRUCTURE
22
FIGURE 8
KEY BUYING CRITERIA FOR BAKERY PRODUCTS
23
FIGURE 9
RESEARCH PROCESS
24
FIGURE 10
TOP-DOWN & BOTTOM-UP APPROACHES
27
FIGURE 11
MARKET DYNAMIC ANALYSIS: GLOBAL BAKERY PRODUCTS MARKET
30
FIGURE 12
DRIVER IMPACT ANALYSIS
32
FIGURE 13
RESTRAINT IMPACT ANALYSIS
33
FIGURE 14
GLOBAL FROZEN BAKERY PRODUCTS MARKET: VALUE CHAIN
35
FIGURE 15
GLOBAL BAKERY PRODUCTS MARKET: SUPPLY CHAIN
37
FIGURE 16
PORTER'S FIVE FORCES ANALYSIS: GLOBAL BAKERY PRODUCTS MARKET
38
FIGURE 17
GLOBAL BAKERY PRODUCTS MARKET, BY PRODUCT TYPE, 2020 (% SHARE)
44
FIGURE 18
GLOBAL BAKERY PRODUCTS MARKET, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
45
FIGURE 19
GLOBAL BAKERY PRODUCTS MARKET, BY CATEGORY, 2020 (% SHARE)
48
FIGURE 20
GLOBAL BAKERY PRODUCTS MARKET, BY CATEGORY, 2019–2028 (USD BILLION)
49
FIGURE 21
GLOBAL BAKERY PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, 2020 (% SHARE)
50
FIGURE 22
GLOBAL BAKERY PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
51
FIGURE 23
GLOBAL BAKERY PRODUCTS MARKET, BY REGION, 2019–2028 (USD BILLION)
53
FIGURE 24
GLOBAL BAKERY PRODUCTS MARKET, BY REGION, 2020 (% SHARE)
53
FIGURE 25
NORTH AMERICA: BAKERY PRODUCTS MARKET SHARE, BY COUNTRY, 2020 (% SHARE)
55
FIGURE 26
EUROPE: BAKERY PRODUCTS MARKET SHARE, BY COUNTRY, 2020 (% SHARE)
70
FIGURE 27
ASIA-PACIFIC: BAKERY PRODUCTS MARKET SHARE, BY COUNTRY, 2020 (% SHARE)
94
FIGURE 28
REST OF THE WORLD: BAKERY PRODUCTS MARKET SHARE, BY REGION, 2020 (% SHARE)
115
FIGURE 29
BENCHMARKING OF MAJOR COMPETITORS
131
FIGURE 30
GENERAL MILLS, INC.: FINANCIAL OVERVIEW SNAPSHOT
135
FIGURE 31
GENERAL MILLS, INC.: SWOT ANALYSIS
141
FIGURE 32
GRUPO BIMBO, S.A.B. DE C.V.: FINANCIAL OVERVIEW SNAPSHOT
142
FIGURE 33
GRUPO BIMBO, S.A.B. DE C.V.: SWOT ANALYSIS
148
FIGURE 34
LANTMÄNNEN GROUP: FINANCIAL OVERVIEW SNAPSHOT
149
FIGURE 35
LANTMÄNNEN UNIBAKE: SWOT ANALYSIS
151
FIGURE 36
BRITANNIA INDUSTRIES LIMITED: FINANCIAL OVERVIEW SNAPSHOT
154
FIGURE 37
BRITANNIA INDUSTRIES LIMITED: SWOT ANALYSIS
156
FIGURE 38
BARILLA HOLDING S.P.A.: FINANCIAL OVERVIEW SNAPSHOT
157
FIGURE 39
BARILLA HOLDING S.P.A.: SWOT ANALYSIS
158
FIGURE 40
MONDELEZ INTERNATIONAL, INC.: FINANCIAL OVERVIEW SNAPSHOT
160
FIGURE 41
ASSOCIATED BRITISH FOODS PLC: FINANCIAL OVERVIEW SNAPSHOT
162
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FORECAST TO 2028
FIGURE 42
FINSBURY FOOD GROUP PLC : FINANCIAL OVERVIEW SNAPSHOT
164
FIGURE 43
DUNKIN BRANDS: FINANCIAL OVERVIEW SNAPSHOT
168
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FORECAST TO 2028
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FORECAST TO 2028
The global bakery products market has witnessed rapid growth over the last few years and is projected to expand at a CAGR of 3.3%
during the forecast period. Increasing consumer preference towards convenience foods is anticipated to act as a major driver in the
growth of the global bakery products market during the forecast period. Additionally, the growth of the organized retail sector is
expected to positively influence the sales of bakery products at the global level. However, frozen bakery products are not cost-efficient
for the consumers, which is anticipated to restrict the growth of the market. The development of the cold chain industry in the emerging
economies is expected to create a lucrative opportunity for the manufacturers of bakery products.
FIGURE 1
MARKET SYNOPSIS
MARKET SIZE
▪
2020: USD 330.5 Billion
▪
2028: USD 426.3 Billion
CAGR% (2021–2028)
▪
3.3%
KEY GEOGRAPHIES
▪
North America: 28.25%
▪
Europe: 35.93%
KEY COUNTRIES
▪
US
▪
Germany
▪
UK
▪
France
MARKET SYNOPSIS
KEY MARKET DRIVERS
▪
Rising Demand for Convenience Food
▪
Mounting Growth of Foodservice Industry
▪
Growth of the Organized Retail Sector in
Asia-Pacific
KEY MARKET OPPORTUNITIES
▪
Developing of the Cold Chain Market in
Emerging Economies
▪
Demand for Organic Products
KEY VENDORS
▪
General Mills, Inc.​
▪
Grupo Bimbo, S.A.B. de C.V.​
▪
Lantmännen​
▪
Barilla Holding S.p.A.​
Source: MRFR Analysis
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FORECAST TO 2028
1.1
MARKET ATTRACTIVENESS ANALYSIS
FIGURE 2
MARKET ATTRACTIVENESS ANALYSIS: GLOBAL BAKERY PRODUCTS MARKET, 2020
6.00%
Asia-Pacific
Europe
CAGR (%)
4.00%
Rest of the World
North America
2.00%
0.00%
-
20.0
40.0
60.0
80.0
100.0
120.0
140.0
Market Size (USD Billion)
Source: MRFR Analysis
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FORECAST TO 2028
1.1.1
GLOBAL BAKER Y PR ODUCTS MAR KET, BY PR ODUCT TYPE
FIGURE 3
GLOBAL BAKERY PRODUCTS MARKET ANALYSIS, BY PRODUCT TYPE, 2020
4.56%
Breads
4.55%
10.05%
Cakes & Pastries
29.01%
Cookies & Biscuits
Bagels
6.13%
Donuts
7.91%
Pizza & Pizza Crust
7.33%
Pies & Tarts
16.36%
Brownies
14.08%
Others
Market Size (USD Billion)
140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
Breads
Cakes &
Pastries
Cookies &
Biscuits
Bagels
Donuts
Pizza &
Pizza Crust
Pies &
Tarts
Brownies
Others
2019
92.5
52.4
45.2
23.8
25.6
19.9
32.4
14.9
14.9
2020
95.9
54.1
46.5
24.2
26.2
20.3
33.2
15.1
15.0
2021
99.5
55.8
47.9
24.7
26.8
20.7
34.1
15.3
15.2
2028
132.3
71.8
60.4
29.2
32.6
24.1
42.2
17.1
16.7
Source: MRFR Analysis
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FORECAST TO 2028
1.1.2
GLOBAL BAKER Y PR ODUCTS MAR KET, CATEGOR Y
FIGURE 4
GLOBAL BAKERY PRODUCTS MARKET ANALYSIS, BY CATEGORY, 2020
35.20%
Fresh
Frozen
64.80%
Market Size (USD Billion)
300.0
250.0
200.0
150.0
100.0
50.0
0.0
Fresh
Frozen
2019
208.0
113.5
2020
214.2
116.3
2021
220.8
119.3
2028
280.3
146.0
Source: MRFR Analysis
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FORECAST TO 2028
1.1.3
GLOBAL BAKER Y PR ODUCTS MAR KET, DISTR IBUTION CHANNEL
FIGURE 5
GLOBAL BAKERY PRODUCTS MARKET ANALYSIS, BY DISTRIBUTION CHANNEL, 2020
31.46%
Food Retail
Foodservice
68.54%
Market Size (USD Billion)
350.0
300.0
250.0
200.0
150.0
100.0
50.0
0.0
Food Retail
Foodservice
2019
219.9
101.6
2020
226.5
104.0
2021
233.6
106.5
2028
297.3
129.0
Source: MRFR Analysis
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FORECAST TO 2028
1.1.4
GLOBAL BAKER Y PR ODUCTS MAR KET, BY R EGION
FIGURE 6
GLOBAL BAKERY PRODUCTS MARKET ANALYSIS, BY REGION, 2020
Source: MRFR Analysis
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FORECAST TO 2028
2.1
DEFINITION
Bakery products are rich in fats, sugar, and sometimes nuts & fruits, which increases their nutritional value and energy content.
Moreover, advancement in food processing technology has enabled manufacturers to introduce innovative products with better taste,
appearance, and enhanced nutritive value, which is expected to support the growth of the baked food products market during the
forecast period.
2.2
SCOPE OF THE STUDY
The scope of the global bakery products market study includes the market size analysis and a detailed analysis of the manufacturers’
products and strategies. The market has been segmented based on product type, category, distribution channel, and region.
2.3
RESEARCH OBJECTIVE

To provide a comprehensive analysis of the bakery products industry and its sub-segments in the global market, thereby
providing a detailed structure of the industry

To provide detailed insights into factors driving and restraining the growth of the global bakery products market

To estimate the market size of the global bakery products market where 2019 would be the historical year, 2020 shall be the
base year, and 2021 to 2028 will be the forecast period for the study

To analyze the global bakery products market in four main geographies, namely, North America, Europe, Asia-Pacific, and the
Rest of the World

To provide country-wise market value analysis for various segments of the bakery products market

To provide strategic profiling of key companies (manufacturers and distributors) present across the globe and comprehensively
analyze their competitiveness/competitive landscape in this market

To provide a distribution chain analysis/value chain for the global bakery products market
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FORECAST TO 2028
2.4
MARKET STRUCTURE
FIGURE 7
GLOBAL BAKERY PRODUCTS MARKET: STRUCTURE
BY PRODUCT TYPE
•
Breads​
➢ Standard Bread​
➢ Brioche
➢ Burger Bun​
BY CATEGORY
BY DISTRIBUTION CHANNEL
•
Fresh
•
•
Frozen
➢ Supermarkets &
Hypermarkets​
Food Retail​
➢ Convenience Stores​
➢ Hot Dog Bun​
➢ Tortilla​
➢ In-Store Bakery​
➢ Flat Bread
➢ Online
➢ Others​
➢ Others​
•
Cakes & Pastries​
•
BY REGION
•
North America
•
Europe
•
Asia Pacific
•
Rest of the World
(ROW)
Foodservice​
➢ Angel Food Cake​
➢ Layer Cake​
➢ Panettone​
➢ Cup Cake​
➢ Mug Cake​
➢ Muffins​
➢ Others​
•
Cookies & Biscuits​
•
Bagels​
•
Donuts​
•
Pizza & Pizza Crust​
•
Pies & Tarts​
•
Brownies​
•
Others
Source: MRFR Analysis
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FORECAST TO 2028
2.5
KEY BUYING CRITERIA
FIGURE 8
KEY BUYING CRITERIA FOR BAKERY PRODUCTS
Source: Secondary Research and MRFR Analysis
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FORECAST TO 2028
3.1
RESEARCH PROCESS
Market Research Future analysis is based on interviews with industry experts who offer insight into the market structure, market
segmentation, technology assessment, competitive landscape (CL), market penetration, and emerging trends. Besides primary
interviews (~80%) and secondary research (~20%), their analysis is based on years of professional expertise in their respective
industries. Our analysts also predict where the market will be headed in the next five to 10 years by analyzing historical trends and the
current market position. Furthermore, the varying trends in segments and categories in each region are studied and estimated based
on primary and secondary research.
FIGURE 9
RESEARCH PROCESS
RESEARCH
PROCESS
BUSINESS
OBJECTIVE
1ST
LEVEL
FILTER
DATA
COLLECTION
FILTER
PARAMETERS
To understand the various factors that can influence the market outlook in
terms of preference via:
▪ Global Production
▪ Market Drivers
▪ Price Trends
▪ Realizations
WEB SEARCH
EXPERTS AND CONSULTANTS
Information has been collected from
secondary domains, journals, news
articles, and published white
papers.
Industry experts and relevant
consultants have been contacted to
provide market intelligence information
and to validate the findings.
REPORT EXECUTION
2ND
LEVEL
FILTER
ANALYSIS
The final report has been prepared based on the analysis of the data collected and
interaction with primary experts.
Source: MRFR Analysis
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FORECAST TO 2028
TABLE 1
PRIMARY INTERVIEWS
Manufacturers
Retailers
Consumers
Total Number of
Primary Interviews
North America
45%
25%
30%
100
Europe
45%
25%
30%
100
Asia-Pacific
25%
25%
50%
50
Rest of the World
30%
20%
50%
50
Region
3.2
PRIMARY RESEARCH
Extensive primary research was conducted to gain a deeper insight into the market and the industry performance. For this particular
report, we have conducted primary surveys (interviews) with the key level executives (VPs, CEOs, marketing directors, and business
development managers, among others) of the major players active in the market. In addition to analyzing the current and historical
trends, our analysts predict where the market is headed in the next five years.
PRIMARY RESEARCH
QUANTITATIVE DATA
QUALITATIVE DATA
OBSERVATION
• Personal Interviews
• Focus Groups
• Natural
• Telephonic Calls, E-Mails
• Individual Interviews
• Contrived
• In-House Discussions
• Mechanical
• Indirect
• Recorded
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FORECAST TO 2028
3.3
SECONDARY RESEARCH
Secondary research was mainly used to collect and identify information useful for an extensive, technical, market-oriented, and
commercial study of the global bakery products market. It was also used to obtain key information about major players, market
classification, and segmentation according to industry trends, geographical markets, and developments related to the market and
technology. For this study, analysts have gathered information from various credible sources such as annual reports, SEC filings,
journals, white papers, corporate presentations, company websites, international organizations of food & beverages manufacturers,
and paid databases.
SECONDARY RESEARCH
INTERNAL SOURCES
EXTERNAL SOURCES
• In-House Research
• Government Sites, Publications
• In-House Published Reports
• Industry Publications
• Sales Results, Marketing Activity
• Trade Associations
• Customer Feedback
• Periodicals, Journals
• Company Sites, Annual Reports
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FORECAST TO 2028
3.4
MARKET SIZE ESTIMATION
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of
various other dependent sub-markets of the overall bakery products market. The key players in the market were identified through
secondary research, and their market contributions in the respective regions were determined through primary and secondary
research. This entire procedure included the study of the annual and financial reports of top market players and extensive interviews
for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and
breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect
the market have been covered in this research study have been accounted for, viewed in extensive detail, verified through primary
research, and analyzed to arrive at the final quantitative and qualitative data. This data has been consolidated and detailed inputs and
analysis added by Market Research Future before being presented in this report. The following figure is an illustrative representation
of the overall market size estimation process employed for the purpose of this study.
FIGURE 10
TOP-DOWN & BOTTOM-UP APPROACHES
BOTTOM-UP
Global Bakery Products Market
Global Bakery Products Market by Product Type,
Category, Distribution Channel, and Region
Each market will be extrapolated to the
country-level based on the market share
Percentage split on the market to
derive the market for each segment
The market share and revenue of various players
operating in the global bakery products market
will be derived through primary and secondary
research
Percentage split on the market to
derive the market for each sub-segment
TOP-DOWN
Source: MRFR Analysis
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FORECAST TO 2028
3.5
FORECAST MODEL
MARKET
FORECAST
MARKET
SHARE
▪ Historical and
Current Data
▪ Supply Chain
Analysis
INDUSTRY
TRENDS
▪ Customer
Analysis
▪ Market and
Competitive
Intelligence
▪ Price Info
COMPANY
DEVELOPMENTS
▪ Market Info
▪ Market Size
INFLUENCING
FACTORS
▪ Forecast
Indicators and
Analysis
Source: MRFR Analysis
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FORECAST TO 2028
3.6
LIST OF ASSUMPTIONS & LIMITATIONS
TABLE 2
LIST OF ASSUMPTIONS & LIMITATIONS
Parameter
Assumptions & Limitations
All forecasts have been made with the revenue and value calculated under the standard
assumption that the value of the globally accepted currency, the US dollar, remains constant
Currency Value
over the next five years.
Exchange Rates and Currency
For the conversion of various currencies to USD, the average historical exchange rates have
been used according to the year specified. For all historical and current exchange rates
required for calculations and currency conversions, the OANDA website has been used in
Conversion
this research study.
For niche market segments where accurate data of the respective timeline was not available,
Niche Market Segments
the data were calculated using trend line analysis. In some instances, where mathematical
and statistical models could not be applied to arrive at the number, a generalization of
specific related trends to that particular market has been made.
Qualitative Analysis
The qualitative analysis is arrived at from the quantitative data based on the understanding
of the market and its trends by the team of experts involved in making this report.
The ASP, wherever applicable, was calculated using suitable statistical and mathematical
Average Selling Prices (ASP)
methods and considering external qualitative factors affecting the price. All the calculations
are interconnected based on the finalized ASPs.
Source: MRFR Analysis
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FORECAST TO 2028
4.1
OVERVIEW
The global bakery products market has witnessed significant growth over the last few years and is projected to register a 7.50% CAGR
during the forecast period. The key drivers fueling the growth of the global bakery products market are the rising demand for
convenience food, growth of the foodservice industry, and the rapid growth of the organized retail sector in Asia-Pacific. However, the
high price of the frozen bakery products is set to curb the growth of the global bakery products market. Nevertheless, the increasing
investments in the cold chain market in developing countries and the growing demand for organic products are expected to create
lucrative opportunities for players operating in the global bakery products market during the forecast period.
FIGURE 11
MARKET DYNAMIC ANALYSIS: GLOBAL BAKERY PRODUCTS MARKET
DRIVERS
RESTRAINT
▪ Rising Demand for Convenience
Food
▪ Mounting Growth of
Foodservice Industry
▪ Growth of the Organized Retail
Sector in Asia-Pacific
▪ High Product Cost of Frozen
Bakery
DROC
ANALYSIS
OPPORTUNITIES
CHALLENGE
▪ Branding Issues
▪ Developing of the Cold Chain
Market in Emerging Economies
▪ Demand for Organic Products
Source: MRFR Analysis
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FORECAST TO 2028
4.2
4.2.1
DRIVERS
R ISING DEMAND F OR CONVENIENCE F OOD
The changing lifestyles, evolving dietary patterns, and availability of convenience food are factors that play an important role in defining
the consumer’s food choices. The growing trend of consuming convenience food began in the western world and rapidly spread to
other regions across the globe. Consumers prefer convenience foods as they are easy to consume and have nutritional value, variety,
and product appeal. Due to changing lifestyles, consumers are spending less time planning and cooking meals at home, as they
consider preparing food at home to be a time and energy-consuming process. The increasing consumption of convenience food is
driven by the need to create more leisure time, which means that consumers look for options that would help them maximize their
free time, doing the things they value more. This, along with the increasing per capita disposable income, is expected to increase the
demand for bakery products. Moreover, consumption of frozen bakery products is increasing across the globe. Frozen consumables
are considered convenient as there is no need to put in a lot of effort to make these products edible. Bakery products can be prepared
by simply heating the product in a microwave or oven. Thus, the rising demand for convenience food is expected to drive the growth
of the global bakery products market during the review period.
4.2.2
MOUNTING GR OW TH OF F OODSER VICE INDUSTR Y
The foodservice industry refers to hotels, restaurants, and cafes. The growing hectic lifestyle and tight schedules of consumers have
led to increasing demand for ready-to-eat food products and out-of-home eating. In several parts of the globe, where people are
working almost throughout the day, they tend to consume convenience food to save time and money. The HoReCa industry is growing
across the globe, especially in developing countries such as China and India. The trend of dining out is gaining popularity, and people
are opting to eat out at least four to five times a week. As per MRFR analysis, the trend of dining out in developing countries is expected
to surpass the trend in developed countries such as the UK, France, and Italy. The increasing adoption of a new culture, awareness
about global trends, eagerness to experiment with new food & beverage choices, and changing lifestyles are the major factors driving
the growth of the HoReCa industry. In the US, according to the National Restaurant Association, the projected sales of the restaurant
industry in 2020 is likely to be USD 899 billion. Similarly, the Federation of Indian Chambers of Commerce and Industry (FICCI) has
stated that the Indian foodservice industry is expected to register a CAGR of 10% from 2017 to 2022.
Hence, the expansion of the foodservice industry, in both developed and developing countries, is driving the growth of the global
bakery products market.
4.2.3
GR OWTH OF THE OR GANIZED R ETAIL SECTO R IN ASIA-PACIFIC
Disposable income includes the personal per capita income of households left after income taxes and is available for spending and
saving. The increasing per capita disposable income increases consumer buying power and their willingness to pay. Asia-Pacific is
considered as the engine of global growth and offers excellent growth prospects for the bakery products market. Healthy economic
growth and rising income levels are likely to boost the demand for bakery products. Additionally, the rising middle-class population in
Asia-Pacific is raising customer expectations, which is resetting the strategic imperatives of industrial manufacturers operating in the
regional bakery products market.
Rapid economic growth, a rising mid-income population, and high migration rates from rural to urban areas have led to an influx of
international retailers in Asia-Pacific. This has encouraged the expansion of existing retail outlets in countries such as India and China,
driving the growth of the regional bakery products market. Online retailing is trending for food products across the region. With instant
access to catalogs and price lists, customers have a clear idea of the products available, which simplifies purchasing decisions. Online
retailers are capturing a large portion of the market share from brick and mortar retailers as consumers are increasingly inclined
toward online shopping to minimize shopping time.
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India is a major Asian economy where the trend of one-stop shops and modern retailing has been growing at a rapid pace. According
to the India Brand Equity Foundation (IBEF), the retail space in India, in terms of carpet area, is increased by 81% from 2017 and
reached 7.8 million sq. ft. by the end of 2018. Moreover, the retail market in India is expected to grow by 60% and reach USD 1.1 trillion
by the end of 2020 due to the rising per capita incomes, increased digital connectivity, and lifestyle changes of the middle-income
population. Online retail in India is also projected to rival brick and mortar stores, reaching USD 17.8 billion in 2017, which an increase
of 23% from the previous year.
Furthermore, in December 2018, China’s online retail turnover was reported at CNY 9,006.497 billion (approximately USD 1,360.51
billion). This was a record increase from the previous year, which stood at CNY 7,175.07 billion (USD 1,061.90 billion). Thus, the growth
of the organized retail sector in Asia-Pacific is expected to drive the growth of the global bakery products market during the forecast
period.
FIGURE 12
DRIVER IMPACT ANALYSIS
2017–2018
2019–2020
2021–2028
DRIVERS
IMPACT
Rising Demand for Convenience Food
Mounting Growth of Foodservice
Industry
Growth of the Organized Retail Sector
in Asia-Pacific
HIGH
MEDIUM
LOW
Source: MRFR Analysis
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FORECAST TO 2028
4.3
4.3.1
RESTRAINT
HIGH PR ODUCT COST OF FR OZEN BAKER Y
Frozen bakery products are generally costlier compared to fresh bakery products. The manufacturers of frozen bakery products are
pricing their products higher as compared to fresh bakery products owing to the costly production and storage process. Furthermore,
these are not the only products available in the global market. Consumers can opt for other types of convenience foods, which are
healthier in comparison to frozen bakery products. The oligopolistic market includes individual producers that are involved in price
wars and charging prices according to their choice. Thus, the high product cost is expected to reduce the product demand and restrict
the growth of the frozen bakery products market hampering the overall growth of bakery products market during the forecast period.
FIGURE 13
RESTRAINT IMPACT ANALYSIS
RESTRAINT
2017–2018
2019–2020
2021–2028
IMPACT
High Product Cost of Frozen Bakery
HIGH
MEDIUM
LOW
Source: MRFR Analysis
4.4
4.4.1
OPPORTUNITIES
DEVELOPMENT OF THE COLD CHAIN MAR KET IN EMER GING ECONOMIES
Liberalization, globalization, and growth of international trade, coupled with government support towards infrastructure development
for the cold chain sector, are factors that have created growth and investment opportunities in multiple markets. The cold chain
logistics market in developing countries is dynamic and constantly evolving. Due to the current demand-supply gap in the global
market, the fragmented cold chain logistics market offers ample opportunities for new entrants to enter the market. Furthermore, cold
storage is also a crucial factor and key component of food trade in various countries. Operations in the cold chain market have
substantially improved in recent decades. The market has been offering services for a wide range of products, which require storage
at certain temperature levels to maintain integrity throughout the transport chain. The development of the cold chain market in
emerging economies has led to the establishment of a proper logistical process to maintain shipment integrity and has enabled the
food industry to take advantage of global variations. This is expected to create a growth opportunity for the players operating in bakery
products market to enter the frozen bakery products market during the forecast period.
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FORECAST TO 2028
4.4.2
DEMAND FOR OR GANIC PR ODUCTS
Consumer awareness regarding the environmental and health impact of chemicals in food items. Due to the increasing awareness
regarding the negative impact that chemicals can have on human health, consumers increasingly prefer organically cultivated and
processed products. Thus, the global demand for organically produced products is growing rapidly. Along with North America and
Europe, the adoption of organic food products is increasing in Asia-Pacific and the Middle East & Africa. Consumers in these regions
are becoming aware of the benefits of organic bakery products, which creates a lucrative opportunity for the producers of bakery
products. Many key manufacturers, including Vandemoortele NV, are trying to tap into this pool of opportunities by investing in R&D
and launching innovative products.
4.5
4.5.1
CHALLENGE
BR ANDING ISSUES
When it comes to food, consumers’ spending behavior is determined by their loyalty towards certain brands. Generally, consumers
prefer brands that are recognizable and popular. The bakery products market is fragmented, and consumers usually prefer branded
bakery products over non-branded ones, which creates a challenge for new market players to establish themselves. The increasing
instances of government bodies relaxing custom and excise duties on machinery and transport equipment associated with frozen
processed food production has led to a reduction in the cost of supply chain operations, which, in turn, is expected to attract national
and international brands to enter various product categories. However, the new players need significant capital investments to set up
their brand and position their product in a way that draws consumer attention. Thus, branding issues are expected to create a challenge
for players operating in the global bakery products market during the forecast period.
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FORECAST TO 2028
5.1
VALUE CHAIN ANALYSIS
The value chain analysis is a strategic tool used to analyze the internal activities of firms. Its goal is to recognize which activities are
the most valuable—the source of cost or differentiation advantage—to the firm and which ones could be improved to provide a
competitive advantage. By looking into internal activities, the analysis reveals where a firm’s competitive advantages or disadvantages
lie. The firm that competes through a differentiation advantage would try to perform better than its competitors. If it competes through
cost advantage, it will try to carry out its internal activities at lower costs than the competitors. When a company can produce goods
at lower costs than the market price or providing superior products, it earns profits. The value chain analysis helps firms divide their
various business activities into primary and support activities and analyze them, keeping in mind their contribution toward value
creation to the final product. To this end, the inputs consumed by the activity and output generated are studied to decrease costs and
increase differentiation.
The bakery products can be categorized as fresh and frozen, and their manufacturing process differ from one another. However, we
have provided a detailed value chain of frozen bakery products.
FIGURE 14
GLOBAL FROZEN BAKERY PRODUCTS MARKET: VALUE CHAIN
Value Addition to the Price of the Product
0%–30%
31%–85%
86%–100%
Raw Material
Procurement
Processing
Packaging
Wheat/Rye/Rice/Barley/
Oats/Corn Flour
Palm Oil
Weighing
Boxes
Blending
Bags
Proofing/ Molding
Milk & Egg Ingredients
Cutting
Flavoring & Fragrance
Ingredients
Baking
Fruits & Vegetables
Freezing
Starch Derivatives
Frozen Bakery Products
Pouches
Tubs
Source: MRFR Analysis
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FORECAST TO 2028
5.1.1
R AW MATER IAL PR OCUR EMENT
The main raw materials required to produce frozen bakery products are wheat/rye/rice/barley/oats/corn flour, palm oil, milk & egg
ingredients, flavoring & fragrance ingredients, fruits & vegetables, and starch derivatives. The raw materials are mainly procured from
millers and suppliers. Post procurement, the raw materials are sent for quality checks to ensure high product quality. This process
delivers up to 30% value to the product as the quality of the raw material determines the quality of the final product.
5.1.2
PR OCESSING
Once the raw materials are procured from suppliers and transported to the processing plant, the ingredients undergo various
processes to formulate the final product. The processing of any product accounts for the largest share, up to 31%–85%, of the overall
value chain. Each level of processing is closely monitored to obtain a high-quality product. During the production process, most quality
control procedures are carried out by manufacturers. The final products are checked for composition accuracy and quality and then
sent for packaging. The major process carried out during the production is freezing. The blast freezing method is commonly used in
bakery industries to extend the products shelf life and maintain its freshness, safety, and physicochemical stability. In this process,
the product is exposed to low temperatures to remove its latent and sensible heat of fusion. This process stops all the chemical
reactions, thus damages less to the product texture.
5.1.3
PACKAGING
Packaging is a crucial step in the value chain of any product. The packaging of frozen bakery products protects its quality and is
crucial in maintaining its desired shape. Frozen bakery products are distributed to the end users through bulk packaging and retail
packs. The appropriate packaging is done based on the type of frozen bakery product. The value of this segment is nearly 86% to
100%.
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FORECAST TO 2028
5.2
SUPPLY CHAIN ANALYSIS
The supply chain includes the activities and players involved in the production and distribution of a commodity, right from the
procurement of raw materials to the final delivery of the product to end users. It is a system of managing the flow of goods and
services from the point of origin to the point of consumption. It is an integrated method of transforming resources, raw materials, and
components into the final product, ready to be delivered to the customer.
FIGURE 15
GLOBAL BAKERY PRODUCTS MARKET: SUPPLY CHAIN
UPSTREAM
Raw Material
Procurement
Procurement,
Sourcing, and
Storage
DOWNSTREAM
Quality Check
and Inspection
Processing Unit
Transport,
Storage, and
Trade
End Use
▪ In-House/
3P Logistics
▪ Suppliers
▪ Millers
▪ In-House
Logistics
▪ 3P Logistics
▪ Primary and Secondary
Processing
▪ Packaging
Source: MRFR Analysis
The above diagram depicts the various stages involved in the distribution of bakery products. The raw materials used in the production
of bakery products are received from the suppliers and millers. It is then sent to the processing plants where they are tested for quality.
The raw material then undergoes a series of steps. The final product, i.e., bakery products, are then sent directly to the various suppliers
to be distributed to the end customers for consumption. Key market players focus on various factors, with quality checks being of
utmost importance, as the products are subject to stringent regulations. The sale of bakery products involves the flow of the product
through a given channel from the manufacturer to the end users/market.
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FORECAST TO 2028
5.3
PORTER’S FIVE FORCES MODEL
Michael Porter’s Five Forces model offers a framework to study the global bakery products market. Strategic business managers,
trying to gain an edge over competing firms in the global bakery products market, can utilize this model to better comprehend the
industry in which the company operates. The components of each of the forces and the degree of impact of each element in the
context of the global bakery products market have been broken down and analyzed.
FIGURE 16
PORTER'S FIVE FORCES ANALYSIS: GLOBAL BAKERY PRODUCTS MARKET
Threat of New Entrants
(Moderate)
Bargaining Power of Suppliers
(Low)
Threat of Substitutes
(Low)
Bargaining Power of Buyers
(High)
Intensity of Rivalry
(High)
Source: MRFR Analysis
5.3.1
THR EAT OF NEW ENTR ANTS
Several established players operate in the global bakery products market, which makes it difficult for new entrants to compete with
established brands in the market. Additionally, new players need to invest heavily in creating a brand name through promotion and
marketing. However, the barriers to enter the market are not very high, and the initial investments required to start a bakery brand are
moderate. The easy availability of raw materials also increases the chances of new entrants.
Hence, the threat of new entrants in the global bakery products market is expected to be moderate during the forecast period.
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FORECAST TO 2028
5.3.2
BAR GAINING POWER OF SUPPLIER S
The raw material suppliers in the global bakery products market are food & beverage manufacturers and millers. The bakery products
manufacturers have the liberty to shift between suppliers as they are not dependent on a single supplier, which reduces their
operational risks. Furthermore, the presence of several suppliers reduces the switching costs among the manufacturers. The limited
scope of product differentiation also reduces the bargaining power of the suppliers.
Hence, the bargaining power of suppliers in the global bakery products market is expected to be low during the forecast period.
5.3.3
BAR GAINING POWER OF BUYER S
The bargaining power of buyers is the pressure consumers exert on manufacturers to offer high-quality products at low prices. Owing
to the presence of several established industry players in the market, the buyers have the option of choosing between several brands,
which reduces their switching costs and, consequently, increases the bargaining power of buyers. Moreover, consumers usually tend
to experiment with new products in the market and often change their preferences, which increases their bargaining power.
Hence, the bargaining power of buyers in the global bakery products market is expected to be high during the forecast period.
5.3.4
THR EAT OF SUBSTITUTES
There is no direct substitute for bakery products. There is a certain degree of internal substitution in the market due to the choices
available to the consumers for the types of bakery products. Also, there can be internal substitution among the fresh and frozen
category of bakery products. Also, as the general population is becoming increasingly health conscious, they are opting for glutenfree bakery products over the conventional bakery products. Thus, there are several choices for internal substitution in the market but
the threat of substitution for overall bakery products market is low
Hence, the threat of substitutes in the global bakery products market is expected to be low during the forecast period.
5.3.5
INTENSITY OF R IVALR Y
The bakery products market is a highly competitive market that is marked with fierce rivalry among the players in terms of product
quality, variety, and pricing. The mature and stagnant market for bakery products is forcing the market players to emphasize on
innovation in terms of health claims and product quality to expand their customer base. Many manufacturers are focusing on reducing
production costs to compete in the cut-throat market. They are also engaged in strategic expansions to strengthen their businesses
worldwide and survive in the market.
Hence, the rivalry in the global bakery products market is expected to be high during the forecast period.
5.4
IMPACT OF COVID-19 OUTBREAK ON THE GLOBAL BAKERY PRODUCTS MARKET
The advent of the global COVID-19 pandemic resulted in a global crisis. Impacting over 213 countries, the pandemic created an
economic backdrop worldwide and caused a chaotic environment, thereby resulting in the advent of global rescission. Few impacts
of the outbreak of COVID-19 on the global bakery products market have been discussed below.
5.4.1
IMPACT ON PR ODUCTION
The production of bakery products starts with the procurement of raw materials such as flour, starches, baking soda, palm oil, milk &
egg ingredients, flavoring & fragrance ingredients, fruits & vegetables meat, sugar, salt, vegetables, and many more. Among these raw
materials, some are produced by suppliers and distributors. As a measure to limit the spread of coronavirus, various governments
across the world have restricted the gathering of more than ten people in a closed space, and many small to large manufacturers were
ordered to shut their production facilities. Due to the urgent measures taken across the globe, the sourcing of raw material was bit
difficult. Procurement of raw materials have become a cause of concern for the manufacturers owing to COVID-19 impact to logistics.
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To fight the pandemic, the whole world was under lockdown and thus, there were some urgent measures taken by the government of
various countries such as physical distancing and limitation on transportation to fight surge ability. The worldwide lockdown has
certainly affected the production of bakery products. Following state and regional guidelines, manufacturers have implemented
extensive measures to protect the health and safety of their employees. Many global manufacturers temporarily closed their operation
or limited the production capacity of their products. Also, in the early period of crisis, manufacturers were majorly dependent on
inventory. This scenario has also affected the manufacturers financially and they are strategizing their operations to survive the
pandemic with minimal losses
5.4.2
IMPACT ON SUPPLY CHAIN
As the global economy struggles with the pandemic situation, its impact on the global trade and supply chain is growing owing to the
rapid weakening of global investment flows. Strict containment measures imposed by governments of various countries and
preventive measures to control the impact of the outbreak have led to a significant restriction in transportation, driving a knock-on
effect globally. Transportation is crucial in the supply chain of any market, as it is responsible for transferring raw materials to
manufacturers and then distribute the final product from the manufacturers to the retail market. The pandemic had brought the
transportation of goods to a near halt across the globe to stop the spread of the virus.
The supply chain of bakery products mainly includes hypermarkets and supermarkets, convenience stores, specialty stores, and ecommerce linked logistic suppliers, and foodservice. In these unprecedented times, low working efficiency and lockdowns in various
parts of regions have witnessed delays in the delivery of products. Many logistics companies were operating at low efficiency with
very few working staff, which led to the disruption in the supply chain. The low efficiency of delivery systems of e-commerce websites
and logistic companies and disruptions in international and modern trade have severely impacted the supply-chain of the bakery
products market. Furthermore, as we move through this global crisis, most retailers and manufacturers are developing strong action
plans and strategies for when stability returns, to ensure their relevance in the marketplace.
5.4.3
IMPACT ON SALES (F OODSER VICE VS. F OOD R ETAIL)
The outbreak of COVID-19 has negatively impacted the food service and food retail industry. However, according to MRFR analysis,
the food service industry is anticipated to get adversely affected in the next couple of months. The food service industry includes
hotels, restaurants, cafes (HoReCa), bars & pubs, and catering services. It accounts for a significant share of the bakery products
market. With mandatory closure of all these types of services due to the COVID-19 outbreak across the globe, the demand for bakery
products from the food service industry is anticipated to drastically fall for certain period of time. Even after the outbreak normalizes,
the food service industry is expected to take some time to bounce back as many individuals will restrain themselves and avoid public
gatherings with the fear of getting infected. Food retail, on the other hand, is expected to grow for a specified period.
5.4.4
IMPACT ON PR ICI NG
The prices of bakery products are not impacted by the COVID-19 outbreak, but it is estimated that the prices will spike post lockdown.
The manufacturers are expected to increase the prices of bakery products owing to the increase in operational and raw material costs
and to overcome the losses caused due to the pandemic. Furthermore, many manufacturing companies have been prompted to shut
down owing to the unpredictable nature of the pandemic. This has resulted in lesser manufacturing companies operating in the bakery
products market, which will further hike the prices of bakery products.
5.4.5
IMPACT ON CONSUMER BUYING BEHAVIOR
The outbreak of COVID-19 has created a panic situation among the consumers, with temporary closures of retail stores in an attempt
to slow the spread of the virus. This led to panic purchasing among the consumers as they got involved in pantry stockpiling longershelf food products such as bakery products. The urgent measures taken by various countries and the increasing population working
from home has created an upward trend for bakery products sales. However, as the restrictions have started easing in several
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FORECAST TO 2028
countries, customers are getting easy access to the daily essentials, so the panic buying stopped. During the pandemic, the demand
for bakery products increased, owing to the growing trend of convenience foods.
5.4.6
IMPACT ON STOR E- BASED VS. NON - STOR E-BASED SALES
With the closure of store-based distribution channels such as supermarkets, hypermarkets, and specialty stores during pandemic,
consumers are turning their focus towards non-store-based distribution channels such as online/e-commerce channels. The bakery
products manufacturers with inventories and shipment operations are selling their products through online channels. Moreover,
countries that eased the lockdown are also seeing a gradual fall in the sales of bakery products through retail stores, owing to the low
consumer traffic.
5.5
LIST OF MAJOR MANUFACTURERS, BY PRODUCT TYPE
TABLE 3
LIST OF MAJOR MANUFACTURERS, BY PRODUCT TYPE
Product Type
Manufacturer’s List
• Grupo Bimbo
• Aryzta
• Lewis Bakeries
• Campbell Soup Co.
Bread
• Flowers Food
• United States Bakery (Franz Bakery)
• Yamazaki Baking Co. Ltd.
• Associated British Foods Plc
• Britannia Industries Ltd.
• Kraft Heinz Co.
• Hershey Co.
• Monginis
Cakes & Pastries
• mio amore
• Finsbury Food Group
• Pepperidge Farm
• Kellogg
• Parle Products
• Mondlez Inc.
Cookies & Biscuits
• Nestle
• Mrs. Fields Original Cookies
• Quaker
• Biscuit International
Pizza & Pizza Crust
• Baker’s Quality Pizza Crusts, Inc.
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• Alive & Kickin' Pizza Crust
• Tomanetti Food Products LLC
• Rizzuto Foods
• Monte Pizza Crust B.V.
• B&G Foods Inc.
• Hansen Foods LLC.
• Krispy Kreme
• Tim Hortons
• Honey Dew Donuts
• Daylight Donuts
Donuts
• Top Pot Doughnuts
• LaMar's Donuts
• Shipley Do-Nuts
• Betty Crocker
• Pillsbury
• The Hershey Company
Brownies
• Duncan Hines
• Ghirardelli Chocolate Company
• Patties Foods
• Wrights Food Group Ltd
Pies & Tarts
• General Mills, Inc.
• George Weston Ltd.
• Einstein Bros Bagels
• Bimbo Bakeries (Sara Lee)
• Flowers Food Bakeries LLC (Nature’s Own)
Bagels
• Campbell soup Co. (Pepperidge Farm)
• Boulder Brands (Udi’s)
• Lender’s Bagels
Source: Industry Experts, Secondary Research, and MRFR Analysis
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6.1
OVERVIEW
Based on product type, the global bakery products market has been segmented into breads, cakes & pastries, cookies & biscuits,
bagels, donuts, pizza & pizza crust, pies & tarts, brownies, and others. The breads segment is further divided into standard bread,
brioche, burger bun, hot dog bun, tortilla, flat bread, and others. The cakes & pastries segment is further classified as angel food cake,
layer cake, panettone, cupcake, mug cake, muffins, and others. The breads segment accounted for the largest market share of 29.01%
in 2020 and is projected to register the highest CAGR of 4.2% during the forecast period.
6.2
BREADS
Bread is a staple food prepared by baking dough made using flour and water. The dough is cultured with various leavening agents that
help in making the bread soft and then is baked in an oven. Breads can be leavened by naturally occurring microbes, chemicals,
industrially produced yeast, or high-pressure aeration. Commercial breads contain additives to improve flavor, texture, color, shelf life,
nutrition, and ease of production. There are wide range of breads available in the market with different shapes and sizes. The breads
segment is further bifurcated as standard bread, brioche, burger bun, hot dog bun, tortilla, flat bread, and others. The breads & rolls
segment accounted for a 29.01% share of the global bakery products market in 2020.
6.3
CAKES & PASTRIES
A cake is a form of sweet food made from flour, sugar, and other ingredients and is usually baked. Cakes are often made in different
flavors, shapes, and sizes. A pastry, on the other hand, is a dough of flour, water, and shortening (solid fats, including butter) that may
be savory or sweetened. The cakes & pastries segment is further classified as angel food cake, layer cake, panettone, cupcake, mug
cake, muffin, and others. The cakes & pastries segment accounted for a 16.36% share of the global bakery products market in 2020.
6.4
COOKIES & BISCUITS
A cookie is a baked food that is typically small, flat, and sweet. It usually contains flour, sugar, and different types of oil or fat. It may
include other ingredients such as raisins, oats, chocolate chips, nuts, etc. as toppings. A biscuit is a flour-based baked food product.
Biscuits may vary as per different regions. Some biscuits are typically hard, flat, and unleavened, whereas many other biscuits can be
soft and leavened with baking soda or baking powder. The cookies & biscuits segment accounted for a 14.08% share of the global
bakery products market in 2020.
6.5
BAGELS
Bagels are nothing but a round piece of bread. Bagel is prepared with flour, water, yeast, salt, malt, and eggs. The dough is first boiled
and then baked to achieve a rich and golden caramel color. It is chewy, dense, and doughy from the inside and is brown and crispy
from the outside. The origin of this product was from a Jewish community. Traditionally, they are topped with seeds such as poppy
and sesame seeds. The bagels segment is anticipated to register a CAGR of 2.5% during the estimated period.
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6.6
DONUTS
A donut or doughnut is a small ring-shaped piece of sweet fried dough made from flour, eggs, water, leavening, milk, sugar, oil, natural
or artificial flavor, and shortening and deep-fried. They are either glazed or have a topping of chocolate, sugar, and coconut, among
others. There are two types of donuts: filled and ring. Filled donuts are filled with cream, fruit preserves, custard, or any other sweet
fillings. Donuts have different shapes such as rings, balls, twists, and flattened spheres. The segment accounted for a 7.91% share of
the global frozen bakery products market in 2020.
6.7
PIZZA & PIZZA CRUST
Pizza is a savory dish of Italian origin, consisting of a usually round, flattened base of leavened wheat-based dough topped with
tomatoes, cheese, and often various other ingredients baked at a high temperature, traditionally in a wood-fired oven. The Pizza Crust
is the base of the pizza and varies according to style which can either be thick or thin in size. The pizza crust is traditionally plain,
however, it can be customized and seasoned with garlic or herbs and can also be stuffed with cheese. The pizza & pizza crust segment
accounted for a 6.13% share of the global bakery products market in 2020.
6.8
PIES & TARTS
A pie is a sweet or savory dish with a crust and a filling. A pie crust is traditionally made of flour, salt, cold water and shortening. In
many cases, butter is used as a substitute for shortening to make a crisp and flaky crust. There are numerous fruit flavor options for
sweet filling in the pie whereas meat-based filling is used for savory pies. On the other hand, tart is a dessert which has a bottom crust
and shallow sides. The crusts are made from pastry dough, which is usually made using flour, sugar, unsalted butter and ice-cold
water. This segment accounted for a 10.05% share of the global bakery products market in 2020.
6.9
BROWNIES
Brownies made with chocolate are called chocolate brownies, while the ones made with vanilla and brown sugar are known as blond
brownies. They are typically made with butter, sugar, eggs, flour, cocoa powder, vanilla extract, and baking powder. The brownies
segment is anticipated to register a CAGR of 1.7% during the estimated period.
6.10 OTHERS
The others segment includes products such as pretzels, Viennoiseries, and waffles, among others. Products included in the others
segment are relatively less consumed, and hence, accounted for a very small share of the global bakery products market. The others
segment was valued at USD 15.05 billion in 2020 and is projected to grow at a CAGR of 1.4% between 2020 and 2028.
FIGURE 17
GLOBAL BAKERY PRODUCTS MARKET, BY PRODUCT TYPE, 2020 (% SHARE)
4.56%
Breads
4.55%
10.05%
Cakes & Pastries
29.01%
Cookies & Biscuits
Bagels
6.13%
Donuts
7.91%
Pizza & Pizza Crust
7.33%
16.36%
14.08%
Pies & Tarts
Brownies
Others
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
FIGURE 18
GLOBAL BAKERY PRODUCTS MARKET, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Market Size (USD Billion)
140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
Breads
Cakes &
Pastries
Cookies &
Biscuits
Bagels
Donuts
Pizza &
Pizza Crust
Pies &
Tarts
Brownies
Others
2019
92.5
52.4
45.2
23.8
25.6
19.9
32.4
14.9
14.9
2020
95.9
54.1
46.5
24.2
26.2
20.3
33.2
15.1
15.0
2021
99.5
55.8
47.9
24.7
26.8
20.7
34.1
15.3
15.2
2028
132.3
71.8
60.4
29.2
32.6
24.1
42.2
17.1
16.7
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
6.10.1 GLOBAL BAKER Y PR ODUCTS MAR KET ESTIMATES & F OR ECAST, BY PR ODUCT TYPE, 2019–
2028
TABLE 4
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2019–2028 (USD
BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
92.46
95.88
99.50
132.27
4.2%
•
Standard Bread
28.76
30.02
31.35
43.51
4.8%
•
Brioche
8.06
8.30
8.56
10.82
3.4%
•
Burger Bun
20.97
21.79
22.66
30.59
4.4%
•
Hot Dog Bun
13.38
13.86
14.38
19.02
4.1%
•
Tortilla
9.47
9.79
10.12
13.08
3.7%
•
Flat Bread
6.43
6.60
6.78
8.37
3.1%
•
Others
5.39
5.52
5.66
6.88
2.8%
Cakes & Pastries
52.43
54.09
55.85
71.76
3.7%
•
Angel Food Cake
5.18
5.33
5.48
6.84
3.2%
•
Layer Cake
4.34
4.45
4.57
5.62
3.0%
•
Panettone
3.37
3.45
3.53
4.23
2.6%
•
Cup Cake
15.15
15.74
16.36
22.02
4.3%
•
Mug Cake
7.48
7.71
7.95
10.11
3.5%
•
Muffins
14.02
14.48
14.97
19.38
3.8%
•
Others
2.87
2.93
2.99
3.55
2.5%
Cookies & Biscuits
45.23
46.53
47.91
60.35
3.4%
Bagels
23.77
24.24
24.74
29.24
2.5%
Donuts
25.55
26.15
26.79
32.55
2.9%
Pizza & Pizza Crust
19.91
20.27
20.65
24.12
2.3%
Pies & Tarts
32.39
33.23
34.12
42.19
3.1%
Brownies
14.88
15.07
15.28
17.15
1.7%
Others
14.89
15.05
15.21
16.68
1.4%
Total
321.50
330.50
340.05
426.32
3.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 5
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
29.79
30.65
31.57
39.67
3.3%
•
Standard Bread
9.87
10.21
10.58
13.84
3.9%
•
Brioche
2.42
2.47
2.52
3.01
2.5%
•
Burger Bun
6.90
7.12
7.35
9.37
3.5%
•
Hot Dog Bun
4.28
4.40
4.53
5.66
3.2%
•
Tortilla
2.93
3.01
3.08
3.76
2.9%
•
Flat Bread
1.86
1.90
1.93
2.23
2.1%
•
Others
1.53
1.55
1.57
1.79
1.8%
Cakes & Pastries
16.12
16.52
16.95
20.79
3.0%
•
Angel Food Cake
1.55
1.58
1.62
1.92
2.5%
•
Layer Cake
1.28
1.30
1.33
1.56
2.3%
•
Panettone
0.97
0.98
1.00
1.14
1.9%
•
Cup Cake
4.88
5.04
5.20
6.67
3.6%
•
Mug Cake
2.28
2.33
2.39
2.90
2.8%
•
Muffins
4.34
4.46
4.58
5.66
3.1%
•
Others
0.82
0.83
0.84
0.94
1.7%
Cookies & Biscuits
13.53
13.83
14.16
17.06
2.7%
Bagels
6.51
6.60
6.70
7.58
1.8%
Donuts
7.27
7.40
7.53
8.75
2.2%
Pizza & Pizza Crust
5.37
5.43
5.50
6.13
1.6%
Pies & Tarts
9.44
9.63
9.83
11.62
2.4%
Brownies
3.80
3.83
3.86
4.16
1.1%
Others
3.68
3.70
3.73
3.98
0.9%
Total
95.50
97.60
99.83
119.74
2.6%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
7.1
OVERVIEW
Based on the category, the global bakery products market has been segmented into fresh and frozen. The fresh segment accounted
for the larger market share of 64.80% in 2020 and is projected to register a higher CAGR of 3.5% during the forecast period, while the
frozen segment is expected to exhibit a CAGR of 3.0% during the review period.
7.2
FRESH
Fresh segment includes freshly baked products and have a limited shelf life. One of the main features consumers seek in baked goods
is fresh out-of-the-oven experience. Thus, the demand for fresh bakery products is high among the consumers. Bread is the most
popular fresh baked product consumed across the globe. The fresh segment accounted for a market share of 64.80% in 2020 and is
expected to register a higher CAGR of 3.5% during the forecast period to reach a market value of USD 280.33 billion in 2028.
7.3
FROZEN
Frozen bakery products are bakery products with a longer shelf life of 6 to 18 months wherein the movement of water in the products
is prevented by turning water into ice crystal and preventing the microbiological degradation of food. Freezing is the most natural form
of storage. The segment was valued at USD 116.33 billion in 2020 and is anticipated to register a CAGR of 3.0% during the forecast
period.
FIGURE 19
GLOBAL BAKERY PRODUCTS MARKET, BY CATEGORY, 2020 (% SHARE)
35.20%
Fresh
Frozen
64.80%
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FIGURE 20
GLOBAL BAKERY PRODUCTS MARKET, BY CATEGORY, 2019–2028 (USD BILLION)
Market Size (USD Billion)
300.0
250.0
200.0
150.0
100.0
50.0
0.0
Fresh
Frozen
2019
208.0
113.5
2020
214.2
116.3
2021
220.8
119.3
2028
280.3
146.0
Source: Industry Experts, Secondary Research, and MRFR Analysis
7.3.1
TABLE 6
GLOBAL BAKER Y PR ODUCTS MAR KET ESTIMATES & F OR ECAST, BY CATEGOR Y, 2019–2028
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY CATEGORY, 2019–2028 (USD
BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
207.95
214.17
220.76
280.33
3.5%
Frozen
113.55
116.33
119.29
145.99
3.0%
Total
321.50
330.50
340.05
426.32
3.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 7
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
62.46
63.95
65.53
79.60
2.9%
Frozen
33.04
33.65
34.30
40.14
2.3%
Total
95.50
97.60
99.83
119.74
2.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
8.1
OVERVIEW
Based on distribution channel, the global bakery products market has been segmented into food retail and foodservice. The food retail
segment is broken down as supermarkets & hypermarkets, convenience stores, in-store bakery, online, and others. The food retail
segment accounted for the larger market share of 68.54% in 2020, with store-based sub-segment dominating the food retail market.
Moreover, the food retail segment registered a higher CAGR of 3.6% during the forecast period.
8.2
FOOD RETAIL
The food retail segment consists of supermarkets & hypermarkets, convenience stores, in-store bakery, online, and other retail
distribution channels. The supermarkets and hypermarkets sub-segment is expected to be the largest as these channels account for
the maximum sales of frozen bakery products. Convenience stores also play a significant role in the distribution of frozen bakery
products. Consumers prefer store-based channels as they provide a one-stop shopping experience.
The online sub-segment includes e-commerce, wherein manufacturers distribute frozen bakery products through various online
shopping sites and/or their websites. Companies face difficulties in reaching consumers in different regions through brick-and-mortar
stores. Thus, e-commerce channels enable companies to cater to the consumers’ needs and increase brand presence. Additionally,
this mode of distribution helps vendors create brand awareness. The online sub-segment is expected to register the highest growth
rate of 4.7% during the forecast period due to the increase in the use of e-commerce in the retail sector.
8.3
FOODSERVICE
The foodservice segment includes hotels, restaurants, and cafés. The segment accounted for a significant market share of 31.46% in
2020 and is expected to grow at a CAGR of 2.8% during the forecast period. Rising disposable incomes and rapid urbanization are
driving the growth of the foodservice industry, with an increasing number of consumers opting to dine out. Moreover, the rising number
of restaurants and cafés, especially in developing countries, is expected to boost the sales of bakery products in the foodservice
segment.
FIGURE 21
GLOBAL BAKERY PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, 2020 (% SHARE)
31.46%
Food Retail
Foodservice
68.54%
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
FIGURE 22
GLOBAL BAKERY PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Market Size (USD Billion)
350.0
300.0
250.0
200.0
150.0
100.0
50.0
0.0
Food Retail
Foodservice
2019
219.9
101.6
2020
226.5
104.0
2021
233.6
106.5
2028
297.3
129.0
Source: Industry Experts, Secondary Research, and MRFR Analysis
8.3.1
GLOBAL BAKER Y PR ODUCTS MAR KET ESTIMATES & F OR ECAST, BY DISTR IBUTION
CHANNEL, 2019–2028
TABLE 8
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2019–
2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
219.87
226.52
233.58
297.28
3.6%
•
Supermarkets &
Hypermarkets
75.96
78.30
80.78
103.23
3.6%
•
Convenience Stores
61.91
63.67
65.53
82.37
3.3%
•
In-Store Bakery
46.66
47.94
49.29
61.50
3.2%
•
Online
23.50
24.50
25.57
35.23
4.7%
•
Others
11.85
12.12
12.40
14.96
2.7%
Foodservice
101.63
103.98
106.48
129.04
2.8%
Total
321.50
330.50
340.05
426.32
3.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 9
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION
TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
65.89
67.48
69.17
84.22
2.9%
•
Supermarkets &
Hypermarkets
22.84
23.41
24.01
29.35
2.9%
•
Convenience Stores
18.35
18.76
19.20
23.08
2.7%
•
In-Store Bakery
13.75
14.04
14.35
17.12
2.6%
•
Online
7.56
7.83
8.11
10.64
3.9%
•
Others
3.39
3.45
3.51
4.03
2.0%
Foodservice
29.61
30.12
30.65
35.52
2.2%
Total
95.50
97.60
99.83
119.74
2.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.1
OVERVIEW
The global bakery products market has been segmented, based on region, into:

North America

Europe

Asia-Pacific

Rest of the World
FIGURE 23
GLOBAL BAKERY PRODUCTS MARKET, BY REGION, 2019–2028 (USD BILLION)
160.0
(USD Billion)
140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
2019
2020
2021
2028
North America
90.8
93.4
96.1
121.1
Europe
115.8
118.7
121.8
149.8
Asia-Pacific
82.0
84.9
88.0
115.7
Rest of the World
32.9
33.4
34.1
39.7
Source: Industry Experts, Secondary Research, and MRFR Analysis
FIGURE 24
GLOBAL BAKERY PRODUCTS MARKET, BY REGION, 2020 (% SHARE)
10.12%
28.25%
North America
Europe
25.70%
Asia-Pacific
Rest of the World
35.93%
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.1.1
GLOBAL BAKER Y PR ODUCTS MAR KET ESTIMATES & F OR ECAST, BY R EGION, 2019 –2028
TABLE 10
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD BILLION)
Region
CAGR
2019
2020
2021
2028
North America
90.76
93.37
96.13
121.12
3.4%
Europe
115.84
118.75
121.84
149.76
3.0%
Asia-Pacific
82.05
84.94
88.01
115.70
4.0%
Rest of the World
32.86
33.45
34.07
39.73
2.3%
Total
321.50
330.50
340.05
426.32
3.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 11
GLOBAL BAKERY PRODUCTS MARKET ESTIMATES, BY REGION, 2019–2028 (MILLION TONS)
Region
CAGR
2019
2020
2021
2028
North America
26.59
27.19
27.83
33.55
2.8%
Europe
33.04
33.67
34.34
40.35
2.4%
Asia-Pacific
25.74
26.48
27.26
34.21
3.3%
Rest of the World
10.13
10.26
10.39
11.63
1.7%
Total
95.50
97.60
99.83
119.74
2.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.2
NORTH AMERICA
North America has accounted for a market share of 28.25% of the global bakery products market in 2020 and is projected to expand
at a CAGR of 3.4% during the forecast period of 2021-2028. The bakery products market in North America has been experiencing rapid
growth over the last few years. The growth can be attributed to the increasing consumer inclination towards ready-to-eat food
products. On the other hand, the increasing working population in North America, along with rising consumer inclination towards outof-home consumption is anticipated to further drive the sales of bakery products. Also, the cold chain industry in the US has been
witnessing growth at a high pace which, in turn, accelerates the growth of the frozen bakery products leading to overall growth of
bakery products market in North America. According to MRFR analysis, the market value of bakery products is projected to be valued
at USD 426.32 billion by the end of 2028. The US is estimated to retain its dominance throughout the forecast period of 2021-2028.
However, the market in Canada is projected to register the highest growth rate during the forecast period. The consumers in the US
are opting for healthy lifestyles and are demanding gluten-free, low-carbohydrate bakery products. Over the last few years, there has
been an increasing number of celiac disease cases, which is likely to drive the growth of the gluten-free category of bakery products.
According to the Centers for Disease Control and Prevention (CDC), gluten-related disorders affect approximately 10% of the US
population.
FIGURE 25
NORTH AMERICA: BAKERY PRODUCTS MARKET SHARE, BY COUNTRY, 2020 (% SHARE)
10.05%
13.03%
US
Canada
Mexico
76.92%
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.2.1
NOR TH AMER ICA BAKER Y PR ODUCTS MAR KET ESTIMATES & FOR ECAST, BY COUNTR Y,
2019–2028
TABLE 12
NORTH AMERICA: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028 (USD BILLION)
Country
CAGR
2019
2020
2021
2028
US
69.69
71.82
74.08
94.52
3.6%
Canada
11.86
12.17
12.49
15.39
3.1%
Mexico
9.21
9.38
9.57
11.20
2.3%
Total
90.76
93.37
96.13
121.12
3.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 13
NORTH AMERICA: MARKET ESTIMATES, BY COUNTRY, 2019–2028 (MILLION TONS)
Country
CAGR
2019
2020
2021
2028
US
20.23
20.73
21.25
25.95
2.9%
Canada
3.53
3.60
3.67
4.33
2.4%
Mexico
2.83
2.87
2.91
3.27
1.7%
Total
26.59
27.19
27.83
33.55
2.8%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.2.2
NOR TH AMER ICA BAKER Y PR ODUCTS MAR KET ESTIMATES & FOR ECAST, BY PR ODUCT
TYPE, 2019–2028
TABLE 14
NORTHE AMERICA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
25.77
26.75
27.80
37.22
4.3%
•
Standard Bread
7.97
8.32
8.70
12.17
4.9%
•
Brioche
2.26
2.33
2.41
3.07
3.5%
•
Burger Bun
5.83
6.07
6.32
8.59
4.5%
•
Hot Dog Bun
3.73
3.87
4.02
5.35
4.2%
•
Tortilla
2.65
2.74
2.84
3.69
3.8%
•
Flat Bread
1.81
1.86
1.91
2.38
3.2%
•
Others
1.52
1.56
1.60
1.96
2.9%
Cakes & Pastries
14.72
15.20
15.71
20.30
3.8%
•
Angel Food Cake
1.46
1.50
1.55
1.94
3.3%
•
Layer Cake
1.23
1.26
1.29
1.60
3.1%
•
Panettone
0.96
0.98
1.00
1.21
2.7%
•
Cup Cake
4.23
4.40
4.57
6.19
4.4%
•
Mug Cake
2.10
2.17
2.24
2.86
3.6%
•
Muffins
3.93
4.07
4.21
5.48
3.8%
•
Others
0.82
0.83
0.85
1.01
2.5%
Cookies & Biscuits
12.75
13.13
13.53
17.13
3.5%
Bagels
6.79
6.93
7.07
8.40
2.5%
Donuts
7.26
7.43
7.62
9.31
2.9%
Pizza & Pizza Crust
5.70
5.81
5.92
6.95
2.4%
Pies & Tarts
9.17
9.41
9.67
12.02
3.2%
Brownies
4.29
4.35
4.41
4.96
1.7%
Others
4.31
4.35
4.40
4.83
1.4%
Total
90.76
93.37
96.13
121.12
3.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 15
NORTH AMERICA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
8.24
8.49
8.75
11.10
3.4%
•
Standard Bread
2.71
2.81
2.92
3.85
4.1%
•
Brioche
0.67
0.69
0.71
0.85
2.7%
•
Burger Bun
1.91
1.97
2.03
2.62
3.7%
•
Hot Dog Bun
1.18
1.22
1.26
1.59
3.4%
•
Tortilla
0.81
0.84
0.86
1.06
3.0%
•
Flat Bread
0.52
0.53
0.54
0.63
2.2%
•
Others
0.43
0.43
0.44
0.51
2.0%
Cakes & Pastries
4.47
4.59
4.72
5.82
3.1%
•
Angel Food Cake
0.43
0.44
0.45
0.54
2.6%
•
Layer Cake
0.36
0.36
0.37
0.44
2.4%
•
Panettone
0.27
0.28
0.28
0.32
2.0%
•
Cup Cake
1.35
1.39
1.44
1.86
3.7%
•
Mug Cake
0.63
0.65
0.67
0.81
2.9%
•
Muffins
1.20
1.24
1.27
1.58
3.2%
•
Others
0.23
0.23
0.24
0.27
1.8%
Cookies & Biscuits
3.76
3.85
3.94
4.78
2.8%
Bagels
1.83
1.85
1.88
2.13
1.8%
Donuts
2.03
2.07
2.11
2.46
2.2%
Pizza & Pizza Crust
1.51
1.53
1.55
1.72
1.6%
Pies & Tarts
2.63
2.69
2.74
3.26
2.5%
Brownies
1.07
1.08
1.09
1.16
1.0%
Others
1.04
1.04
1.05
1.11
0.8%
Total
26.59
27.19
27.83
33.55
2.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.2.3
NOR TH AMER ICA BAKER Y PR ODU CTS MAR KET ESTIMATES & FOR ECAST, BY CATEGOR Y ,
2019–2028
TABLE 16
NORTH AMERICA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
58.61
60.40
62.31
79.51
3.6%
Frozen
32.15
32.96
33.83
41.60
3.0%
Total
90.76
93.37
96.13
121.12
3.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 17
NORTH AMERICA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
17.36
17.79
18.24
22.27
2.9%
Frozen
9.23
9.40
9.59
11.28
2.4%
Total
26.59
27.19
27.83
33.55
2.8%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.2.4
NOR TH AMER ICA BAKER Y PR ODUCTS MAR KET ESTIMATES & FOR ECAST, BY DISTR IBUTION
CHANNEL, 2019–2028
TABLE 18
NORTH AMERICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
61.95
63.87
65.90
84.30
3.6%
•
Supermarkets &
Hypermarkets
21.39
22.06
22.78
29.26
3.6%
•
Convenience Stores
17.47
17.98
18.52
23.40
3.4%
•
In-Store Bakery
13.18
13.55
13.94
17.48
3.3%
•
Online
6.55
6.83
7.14
9.89
4.8%
•
Others
3.36
3.44
3.52
4.27
2.8%
Foodservice
28.81
29.50
30.23
36.82
2.9%
Total
90.76
93.37
96.13
121.12
3.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 19
NORTH AMERICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
18.31
18.76
19.25
23.55
3.0%
•
Supermarkets &
Hypermarkets
6.34
6.50
6.68
8.20
3.0%
•
Convenience Stores
5.11
5.23
5.35
6.47
2.7%
•
In-Store Bakery
3.83
3.91
4.00
4.80
2.6%
•
Online
2.08
2.15
2.23
2.95
4.0%
•
Others
0.95
0.97
0.98
1.14
2.1%
Foodservice
8.28
8.43
8.58
10.00
2.2%
Total
26.59
27.19
27.83
33.55
2.8%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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60
FORECAST TO 2028
9.2.5
US
TABLE 20
US: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
19.72
20.51
21.35
28.96
4.5%
•
Standard Bread
6.08
6.37
6.67
9.45
5.1%
•
Brioche
1.74
1.79
1.85
2.39
3.7%
•
Burger Bun
4.46
4.65
4.85
6.68
4.7%
•
Hot Dog Bun
2.86
2.97
3.09
4.17
4.4%
•
Tortilla
2.03
2.10
2.18
2.88
4.0%
•
Flat Bread
1.39
1.43
1.48
1.86
3.4%
•
Others
1.17
1.20
1.23
1.53
3.1%
Cakes & Pastries
11.29
11.68
12.09
15.82
4.0%
•
Angel Food Cake
1.12
1.16
1.19
1.52
3.5%
•
Layer Cake
0.94
0.97
1.00
1.25
3.3%
•
Panettone
0.73
0.75
0.77
0.94
2.9%
•
Cup Cake
3.23
3.37
3.51
4.82
4.6%
•
Mug Cake
1.61
1.67
1.72
2.23
3.8%
•
Muffins
3.01
3.12
3.24
4.27
4.0%
•
Others
0.63
0.64
0.66
0.79
2.7%
Cookies & Biscuits
9.79
10.10
10.42
13.37
3.7%
Bagels
5.23
5.34
5.47
6.58
2.7%
Donuts
5.58
5.73
5.88
7.27
3.1%
Pizza & Pizza Crust
4.39
4.48
4.58
5.44
2.6%
Pies & Tarts
7.05
7.25
7.46
9.39
3.4%
Brownies
3.31
3.36
3.42
3.89
1.9%
Others
3.33
3.37
3.42
3.79
1.5%
Total
69.69
71.82
74.08
94.52
3.6%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 21
US: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
6.25
6.45
6.67
8.57
3.7%
•
Standard Bread
2.05
2.13
2.22
2.97
4.3%
•
Brioche
0.51
0.53
0.54
0.66
2.9%
•
Burger Bun
1.44
1.49
1.55
2.02
3.9%
•
Hot Dog Bun
0.90
0.93
0.96
1.22
3.6%
•
Tortilla
0.62
0.64
0.65
0.82
3.2%
•
Flat Bread
0.40
0.41
0.41
0.49
2.4%
•
Others
0.33
0.33
0.34
0.39
2.2%
Cakes & Pastries
3.40
3.49
3.60
4.50
3.3%
•
Angel Food Cake
0.33
0.34
0.34
0.42
2.8%
•
Layer Cake
0.27
0.28
0.28
0.34
2.6%
•
Panettone
0.21
0.21
0.21
0.25
2.2%
•
Cup Cake
1.02
1.06
1.09
1.43
3.9%
•
Mug Cake
0.48
0.49
0.51
0.63
3.1%
•
Muffins
0.91
0.94
0.97
1.22
3.4%
•
Others
0.17
0.18
0.18
0.21
2.0%
Cookies & Biscuits
2.86
2.93
3.01
3.69
3.0%
Bagels
1.40
1.42
1.44
1.65
2.0%
Donuts
1.55
1.58
1.61
1.91
2.5%
Pizza & Pizza Crust
1.15
1.17
1.19
1.34
1.8%
Pies & Tarts
2.00
2.05
2.10
2.52
2.7%
Brownies
0.82
0.83
0.83
0.90
1.2%
Others
0.79
0.80
0.81
0.87
1.0%
Total
20.23
20.73
21.25
25.95
2.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 22
US: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
44.97
46.43
47.98
62.01
3.8%
Frozen
24.72
25.39
26.10
32.51
3.2%
Total
69.69
71.82
74.08
94.52
3.6%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 23
US: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
13.20
13.55
13.92
17.21
3.1%
Frozen
7.03
7.18
7.33
8.74
2.6%
Total
20.23
20.73
21.25
25.95
2.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 24
US: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
47.53
49.09
50.74
65.74
3.8%
•
Supermarkets &
Hypermarkets
16.41
16.95
17.54
22.81
3.8%
•
Convenience Stores
13.41
13.83
14.27
18.26
3.6%
•
In-Store Bakery
10.12
10.43
10.75
13.65
3.5%
•
Online
5.00
5.23
5.47
7.68
5.0%
•
Others
2.59
2.65
2.72
3.34
3.0%
Foodservice
22.16
22.73
23.34
28.78
3.1%
Total
69.69
71.82
74.08
94.52
3.6%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 25
US: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
13.92
14.29
14.69
18.20
3.2%
•
Supermarkets &
Hypermarkets
4.82
4.95
5.09
6.34
3.2%
•
Convenience Stores
3.89
3.98
4.09
5.00
2.9%
•
In-Store Bakery
2.91
2.98
3.06
3.71
2.8%
•
Online
1.57
1.63
1.70
2.27
4.2%
•
Others
0.72
0.74
0.75
0.88
2.3%
Foodservice
6.31
6.44
6.57
7.75
2.4%
Total
20.23
20.73
21.25
25.95
2.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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63
FORECAST TO 2028
9.2.6
CANADA
TABLE 26
CANADA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
3.42
3.54
3.66
4.80
4.0%
•
Standard Bread
1.07
1.11
1.16
1.58
4.6%
•
Brioche
0.30
0.30
0.31
0.39
3.2%
•
Burger Bun
0.78
0.81
0.84
1.11
4.2%
•
Hot Dog Bun
0.49
0.51
0.53
0.69
3.9%
•
Tortilla
0.35
0.36
0.37
0.47
3.5%
•
Flat Bread
0.24
0.24
0.25
0.30
2.8%
•
Others
0.20
0.20
0.21
0.25
2.6%
Cakes & Pastries
1.94
1.99
2.05
2.60
3.5%
•
Angel Food Cake
0.19
0.20
0.20
0.25
3.0%
•
Layer Cake
0.16
0.16
0.17
0.20
2.8%
•
Panettone
0.12
0.13
0.13
0.15
2.4%
•
Cup Cake
0.56
0.58
0.60
0.80
4.1%
•
Mug Cake
0.28
0.28
0.29
0.37
3.3%
•
Muffins
0.52
0.53
0.55
0.70
3.5%
•
Others
0.11
0.11
0.11
0.13
2.2%
Cookies & Biscuits
1.67
1.71
1.76
2.18
3.2%
Bagels
0.88
0.89
0.91
1.05
2.2%
Donuts
0.94
0.96
0.98
1.17
2.6%
Pizza & Pizza Crust
0.73
0.74
0.76
0.87
2.0%
Pies & Tarts
1.19
1.22
1.25
1.52
2.9%
Brownies
0.55
0.55
0.56
0.61
1.4%
Others
0.55
0.55
0.55
0.59
1.0%
Total
11.86
12.17
12.49
15.39
3.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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64
FORECAST TO 2028
TABLE 27
CANADA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
1.11
1.14
1.17
1.45
3.2%
•
Standard Bread
0.37
0.38
0.39
0.51
3.7%
•
Brioche
0.09
0.09
0.09
0.11
2.3%
•
Burger Bun
0.26
0.26
0.27
0.34
3.4%
•
Hot Dog Bun
0.16
0.16
0.17
0.21
3.1%
•
Tortilla
0.11
0.11
0.11
0.14
2.7%
•
Flat Bread
0.07
0.07
0.07
0.08
1.9%
•
Others
0.06
0.06
0.06
0.06
1.6%
Cakes & Pastries
0.60
0.61
0.63
0.76
2.8%
•
Angel Food Cake
0.06
0.06
0.06
0.07
2.3%
•
Layer Cake
0.05
0.05
0.05
0.06
2.1%
•
Panettone
0.04
0.04
0.04
0.04
1.7%
•
Cup Cake
0.18
0.19
0.19
0.24
3.4%
•
Mug Cake
0.08
0.09
0.09
0.11
2.6%
•
Muffins
0.16
0.16
0.17
0.21
2.9%
•
Others
0.03
0.03
0.03
0.03
1.4%
Cookies & Biscuits
0.50
0.51
0.52
0.62
2.5%
Bagels
0.24
0.24
0.24
0.27
1.5%
Donuts
0.27
0.27
0.28
0.32
2.0%
Pizza & Pizza Crust
0.20
0.20
0.20
0.22
1.3%
Pies & Tarts
0.35
0.35
0.36
0.42
2.2%
Brownies
0.14
0.14
0.14
0.14
0.6%
Others
0.13
0.13
0.13
0.14
0.5%
Total
3.53
3.60
3.67
4.33
2.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 28
CANADA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
7.68
7.89
8.12
10.14
3.3%
Frozen
4.18
4.27
4.37
5.26
2.7%
Total
11.86
12.17
12.49
15.39
3.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 29
CANADA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
2.31
2.36
2.41
2.88
2.6%
Frozen
1.22
1.24
1.26
1.45
2.1%
Total
3.53
3.60
3.67
4.33
2.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 30
CANADA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
8.13
8.35
8.59
10.75
3.3%
•
Supermarkets &
Hypermarkets
2.81
2.89
2.97
3.74
3.3%
•
Convenience Stores
2.28
2.34
2.41
2.98
3.1%
•
In-Store Bakery
1.72
1.76
1.81
2.22
3.0%
•
Online
0.88
0.91
0.95
1.28
4.4%
•
Others
0.44
0.44
0.45
0.54
2.5%
Foodservice
3.74
3.81
3.90
4.64
2.6%
Total
11.86
12.17
12.49
15.39
3.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 31
CANADA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
2.44
2.49
2.55
3.05
2.7%
•
Supermarkets &
Hypermarkets
0.85
0.86
0.88
1.06
2.7%
•
Convenience Stores
0.68
0.69
0.71
0.84
2.4%
•
In-Store Bakery
0.51
0.52
0.53
0.62
2.3%
•
Online
0.28
0.29
0.30
0.39
3.7%
•
Others
0.12
0.13
0.13
0.15
1.8%
Foodservice
1.09
1.11
1.12
1.28
1.9%
Total
3.53
3.60
3.67
4.33
2.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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66
FORECAST TO 2028
9.2.7
MEXICO
TABLE 32
MEXICO: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
2.63
2.70
2.78
3.46
3.2%
•
Standard Bread
0.82
0.84
0.87
1.14
3.8%
•
Brioche
0.23
0.23
0.24
0.28
2.4%
•
Burger Bun
0.60
0.61
0.63
0.80
3.4%
•
Hot Dog Bun
0.38
0.39
0.40
0.50
3.1%
•
Tortilla
0.27
0.28
0.28
0.34
2.8%
•
Flat Bread
0.18
0.19
0.19
0.22
2.1%
•
Others
0.15
0.16
0.16
0.18
1.9%
Cakes & Pastries
1.50
1.53
1.57
1.88
2.7%
•
Angel Food Cake
0.15
0.15
0.15
0.18
2.2%
•
Layer Cake
0.12
0.13
0.13
0.15
2.0%
•
Panettone
0.10
0.10
0.10
0.11
1.7%
•
Cup Cake
0.43
0.44
0.46
0.58
3.3%
•
Mug Cake
0.21
0.22
0.22
0.27
2.5%
•
Muffins
0.40
0.41
0.42
0.51
2.8%
•
Others
0.08
0.08
0.08
0.09
1.5%
Cookies & Biscuits
1.30
1.32
1.35
1.59
2.4%
Bagels
0.69
0.69
0.70
0.77
1.5%
Donuts
0.73
0.75
0.76
0.86
1.9%
Pizza & Pizza Crust
0.57
0.58
0.59
0.64
1.3%
Pies & Tarts
0.93
0.94
0.96
1.11
2.1%
Brownies
0.43
0.43
0.43
0.45
0.7%
Others
0.43
0.43
0.43
0.44
0.3%
Total
9.21
9.38
9.57
11.20
2.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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67
FORECAST TO 2028
TABLE 33
MEXICO: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
0.88
0.90
0.92
1.08
2.3%
•
Standard Bread
0.29
0.30
0.31
0.38
3.0%
•
Brioche
0.07
0.07
0.07
0.08
1.6%
•
Burger Bun
0.20
0.21
0.21
0.26
2.7%
•
Hot Dog Bun
0.13
0.13
0.13
0.16
2.4%
•
Tortilla
0.09
0.09
0.09
0.10
2.0%
•
Flat Bread
0.06
0.06
0.06
0.06
1.2%
•
Others
0.05
0.05
0.05
0.05
0.9%
Cakes & Pastries
0.48
0.49
0.49
0.57
2.0%
•
Angel Food Cake
0.05
0.05
0.05
0.05
1.6%
•
Layer Cake
0.04
0.04
0.04
0.04
1.4%
•
Panettone
0.03
0.03
0.03
0.03
1.0%
•
Cup Cake
0.14
0.15
0.15
0.18
2.7%
•
Mug Cake
0.07
0.07
0.07
0.08
1.9%
•
Muffins
0.13
0.13
0.13
0.15
2.2%
•
Others
0.02
0.02
0.02
0.03
0.8%
Cookies & Biscuits
0.40
0.41
0.41
0.47
1.8%
Bagels
0.19
0.19
0.20
0.21
0.8%
Donuts
0.22
0.22
0.22
0.24
1.2%
Pizza & Pizza Crust
0.16
0.16
0.16
0.17
0.6%
Pies & Tarts
0.28
0.28
0.29
0.32
1.5%
Brownies
0.11
0.11
0.11
0.12
0.4%
Others
0.11
0.11
0.11
0.11
0.2%
Total
2.83
2.87
2.91
3.27
1.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 34
MEXICO: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
5.96
6.08
6.21
7.36
2.5%
Frozen
3.26
3.31
3.36
3.84
2.0%
Total
9.21
9.38
9.57
11.20
2.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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68
FORECAST TO 2028
TABLE 35
MEXICO: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
1.85
1.88
1.91
2.17
1.9%
Frozen
0.98
0.99
1.00
1.10
1.4%
Total
2.83
2.87
2.91
3.27
1.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 36
MEXICO: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
6.30
6.43
6.57
7.81
2.6%
•
Supermarkets &
Hypermarkets
2.17
2.22
2.27
2.71
2.6%
•
Convenience Stores
1.77
1.81
1.84
2.16
2.3%
•
In-Store Bakery
1.34
1.36
1.39
1.62
2.2%
•
Online
0.67
0.69
0.72
0.92
3.7%
•
Others
0.34
0.34
0.35
0.39
1.7%
Foodservice
2.92
2.96
3.00
3.39
1.8%
Total
9.21
9.38
9.57
11.20
2.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 37
MEXICO: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
1.95
1.98
2.01
2.30
2.0%
•
Supermarkets &
Hypermarkets
0.68
0.69
0.70
0.80
2.0%
•
Convenience Stores
0.54
0.55
0.56
0.63
1.7%
•
In-Store Bakery
0.41
0.41
0.42
0.47
1.6%
•
Online
0.22
0.23
0.24
0.29
3.0%
•
Others
0.10
0.10
0.10
0.11
1.1%
Foodservice
0.88
0.89
0.89
0.97
1.2%
Total
2.83
2.87
2.91
3.27
1.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.3
EUROPE
Europe accounted for the largest share of 35.93% of the global bakery products market in 2020. The regional market is expected to
register a CAGR of 3.0% during the forecast period. The growth of the bakery products market in the European region is attributed to
several factors. Among processed food products, bakery products are one of the most popular foods in Europe. Premiumization is
one of the major trends gaining traction in European countries. The consumers are opting for healthy bakery products that contain
whole grain, have high fiber content and are gluten-free. Also, the increasing consumer inclination towards convenience foods due to
busy lifestyles is anticipated to act as a major driver in the growth of the European bakery products market. Moreover, consumers are
increasingly opting for clean label products. Clean label ingredients are widely used in the manufacture of these products for visual
appeal. According to the US Department of Agriculture (USDA), the sales of organic packaged food in Europe were valued at 30.04
billion in 2015. The consumption of organic food & beverages is especially high in Western European countries like the UK, Germany,
and France. Additionally, the manufacturers of bakery products have adopted expansion strategies to increase their presence across
the European region. For instance, in September 2016, La Lorraine Bakery Group opened its production plant in Turkey. The new
production plant caters to the increasing demand for bakery products across Turkey and Eastern Europe.
FIGURE 26
EUROPE: BAKERY PRODUCTS MARKET SHARE, BY COUNTRY, 2020 (% SHARE)
24.01%
24.74%
Germany
UK
France
Spain
9.01%
13.98%
8.06%
Italy
Rest of Europe
20.20%
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.3.1
EUR OPE BAKER Y PR ODUCTS MAR KET E STIMATES & F OR ECAST, BY COUNTR Y, 2019 –2028
TABLE 38
EUROPE: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028 (USD BILLION)
Country
CAGR
2019
2020
2021
2028
Germany
28.36
29.38
30.46
40.17
4.1%
UK
16.24
16.60
16.98
20.46
2.7%
France
23.31
23.99
24.71
31.21
3.4%
Spain
9.41
9.57
9.75
11.35
2.2%
Italy
10.48
10.70
10.93
13.01
2.6%
Rest of Europe
28.04
28.51
29.01
33.56
2.1%
Total
115.84
118.75
121.84
149.76
3.0%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 39
EUROPE: MARKET ESTIMATES, BY COUNTRY, 2019–2028 (MILLION TONS)
Country
CAGR
2019
2020
2021
2028
Germany
8.78
9.03
9.30
11.66
3.3%
UK
4.53
4.60
4.68
5.38
2.1%
France
6.86
7.02
7.18
8.67
2.8%
Spain
2.52
2.55
2.58
2.86
1.5%
Italy
2.88
2.93
2.97
3.38
1.9%
Rest of Europe
7.47
7.55
7.63
8.40
1.4%
Total
33.04
33.67
34.34
40.35
2.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.3.2
EUR OPE BAKER Y PR ODUCTS MAR KET ESTIMATES & F OR ECAST, BY PR ODUCT TYPE, 2019–
2028
TABLE 40
EUROPE: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
33.54
34.67
35.87
46.65
3.9%
•
Standard Bread
10.41
10.83
11.28
15.33
4.5%
•
Brioche
2.93
3.01
3.09
3.82
3.1%
•
Burger Bun
7.60
7.87
8.16
10.78
4.1%
•
Hot Dog Bun
4.85
5.01
5.18
6.71
3.8%
•
Tortilla
3.44
3.54
3.65
4.62
3.4%
•
Flat Bread
2.34
2.39
2.45
2.96
2.7%
•
Others
1.96
2.00
2.05
2.43
2.5%
Cakes & Pastries
18.94
19.49
20.06
25.27
3.4%
•
Angel Food Cake
1.88
1.92
1.97
2.41
2.9%
•
Layer Cake
1.57
1.61
1.65
1.98
2.7%
•
Panettone
1.22
1.25
1.27
1.49
2.3%
•
Cup Cake
5.46
5.66
5.87
7.74
4.0%
•
Mug Cake
2.70
2.78
2.86
3.56
3.2%
•
Muffins
5.06
5.21
5.38
6.82
3.5%
•
Others
1.04
1.06
1.08
1.25
2.2%
Cookies & Biscuits
16.30
16.73
17.17
21.21
3.1%
Bagels
8.51
8.65
8.81
10.20
2.2%
Donuts
9.17
9.36
9.57
11.40
2.6%
Pizza & Pizza Crust
7.12
7.23
7.34
8.41
2.0%
Pies & Tarts
11.65
11.92
12.21
14.80
2.8%
Brownies
5.30
5.36
5.43
6.00
1.5%
Others
5.30
5.34
5.39
5.83
1.2%
Total
115.84
118.75
121.84
149.76
3.0%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 41
EUROPE: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
10.30
10.56
10.84
13.31
3.0%
•
Standard Bread
3.40
3.51
3.63
4.64
3.6%
•
Brioche
0.84
0.85
0.87
1.01
2.2%
•
Burger Bun
2.39
2.45
2.52
3.14
3.2%
•
Hot Dog Bun
1.48
1.52
1.56
1.90
2.9%
•
Tortilla
1.02
1.04
1.06
1.26
2.6%
•
Flat Bread
0.65
0.66
0.67
0.75
1.8%
•
Others
0.53
0.54
0.54
0.60
1.5%
Cakes & Pastries
5.58
5.70
5.83
6.99
2.6%
•
Angel Food Cake
0.54
0.55
0.56
0.65
2.2%
•
Layer Cake
0.44
0.45
0.46
0.52
2.0%
•
Panettone
0.34
0.34
0.34
0.38
1.6%
•
Cup Cake
1.69
1.73
1.79
2.24
3.3%
•
Mug Cake
0.79
0.80
0.82
0.98
2.5%
•
Muffins
1.50
1.54
1.57
1.90
2.8%
•
Others
0.28
0.29
0.29
0.32
1.3%
Cookies & Biscuits
4.68
4.77
4.87
5.75
2.4%
Bagels
2.25
2.28
2.31
2.57
1.5%
Donuts
2.52
2.55
2.59
2.95
1.9%
Pizza & Pizza Crust
1.86
1.87
1.89
2.07
1.3%
Pies & Tarts
3.27
3.32
3.38
3.92
2.1%
Brownies
1.32
1.33
1.34
1.42
0.9%
Others
1.28
1.28
1.29
1.36
0.8%
Total
33.04
33.67
34.34
40.35
2.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.3.3
EUR OPE BAKER Y PR ODUCTS MAR KET ESTIMATES & F OR ECAST, BY CATEGOR Y , 2019–2028
TABLE 42
EUROPE: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
74.89
76.91
79.06
98.44
3.2%
Frozen
40.95
41.84
42.78
51.33
2.7%
Total
115.84
118.75
121.84
149.76
3.0%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 43
EUROPE: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
21.60
22.05
22.53
26.81
2.6%
Frozen
11.44
11.62
11.81
13.54
2.0%
Total
33.04
33.67
34.34
40.35
2.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.3.4
EUR OPE BAKER Y PR ODUCTS MAR KET ESTIMATES & F OR ECAST, BY DISTR IBUTION
CHANNEL, 2019–2028
TABLE 44
EUROPE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
79.17
81.34
83.64
104.38
3.3%
•
Supermarkets &
Hypermarkets
27.35
28.11
28.92
36.24
3.3%
•
Convenience Stores
22.30
22.87
23.48
28.93
3.0%
•
In-Store Bakery
16.82
17.23
17.66
21.61
2.9%
•
Online
8.43
8.77
9.12
12.34
4.4%
•
Others
4.28
4.36
4.45
5.26
2.4%
Foodservice
36.67
37.41
38.20
45.38
2.5%
Total
115.84
118.75
121.84
149.76
3.0%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 45
EUROPE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
22.78
23.27
23.78
28.37
2.6%
•
Supermarkets &
Hypermarkets
7.90
8.07
8.25
9.88
2.6%
•
Convenience Stores
6.35
6.47
6.60
7.78
2.4%
•
In-Store Bakery
4.76
4.84
4.94
5.77
2.3%
•
Online
2.60
2.69
2.78
3.57
3.7%
•
Others
1.18
1.19
1.21
1.36
1.7%
Foodservice
10.26
10.41
10.56
11.99
1.9%
Total
33.04
33.67
34.34
40.35
2.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.3.5
GER MANY
TABLE 46
GERMANY: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
8.25
8.62
9.02
12.62
5.0%
•
Standard Bread
2.59
2.73
2.87
4.20
5.6%
•
Brioche
0.71
0.74
0.77
1.02
4.2%
•
Burger Bun
1.88
1.97
2.06
2.93
5.1%
•
Hot Dog Bun
1.19
1.24
1.30
1.81
4.8%
•
Tortilla
0.84
0.87
0.91
1.24
4.5%
•
Flat Bread
0.56
0.58
0.60
0.78
3.8%
•
Others
0.47
0.49
0.50
0.64
3.6%
Cakes & Pastries
4.64
4.83
5.03
6.80
4.4%
•
Angel Food Cake
0.46
0.47
0.49
0.64
4.0%
•
Layer Cake
0.38
0.39
0.41
0.53
3.7%
•
Panettone
0.29
0.30
0.31
0.39
3.4%
•
Cup Cake
1.36
1.42
1.49
2.11
5.1%
•
Mug Cake
0.66
0.69
0.71
0.96
4.3%
•
Muffins
1.24
1.30
1.35
1.84
4.5%
•
Others
0.25
0.26
0.26
0.33
3.2%
Cookies & Biscuits
3.99
4.14
4.29
5.69
4.1%
Bagels
2.08
2.13
2.19
2.72
3.2%
Donuts
2.24
2.31
2.39
3.05
3.6%
Pizza & Pizza Crust
1.74
1.78
1.83
2.24
3.0%
Pies & Tarts
2.85
2.95
3.05
3.96
3.9%
Brownies
1.29
1.31
1.34
1.57
2.3%
Others
1.28
1.30
1.33
1.51
1.9%
Total
28.36
29.38
30.46
40.17
4.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 47
GERMANY: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
2.77
2.88
2.98
3.93
4.1%
•
Standard Bread
0.93
0.97
1.01
1.39
4.6%
•
Brioche
0.22
0.23
0.24
0.29
3.2%
•
Burger Bun
0.65
0.67
0.70
0.93
4.2%
•
Hot Dog Bun
0.40
0.41
0.43
0.56
4.0%
•
Tortilla
0.27
0.28
0.29
0.37
3.6%
•
Flat Bread
0.17
0.17
0.18
0.22
2.8%
•
Others
0.14
0.14
0.15
0.17
2.5%
Cakes & Pastries
1.49
1.54
1.59
2.04
3.7%
•
Angel Food Cake
0.14
0.15
0.15
0.19
3.2%
•
Layer Cake
0.12
0.12
0.12
0.15
3.0%
•
Panettone
0.09
0.09
0.09
0.11
2.5%
•
Cup Cake
0.46
0.47
0.49
0.66
4.3%
•
Mug Cake
0.21
0.22
0.22
0.28
3.5%
•
Muffins
0.40
0.42
0.43
0.56
3.8%
•
Others
0.07
0.08
0.08
0.09
2.3%
Cookies & Biscuits
1.24
1.28
1.32
1.66
3.4%
Bagels
0.59
0.60
0.61
0.72
2.4%
Donuts
0.66
0.68
0.70
0.84
2.8%
Pizza & Pizza Crust
0.48
0.49
0.50
0.58
2.1%
Pies & Tarts
0.86
0.89
0.91
1.13
3.1%
Brownies
0.34
0.34
0.35
0.38
1.4%
Others
0.33
0.33
0.33
0.37
1.3%
Total
8.78
9.03
9.30
11.66
3.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 48
GERMANY: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
18.40
19.10
19.84
26.50
4.3%
Frozen
9.96
10.28
10.62
13.67
3.7%
Total
28.36
29.38
30.46
40.17
4.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 49
GERMANY: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
5.76
5.94
6.12
7.78
3.5%
Frozen
3.02
3.09
3.18
3.88
3.0%
Total
8.78
9.03
9.30
11.66
3.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 50
GERMANY: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
19.47
20.21
21.00
28.12
4.3%
•
Supermarkets &
Hypermarkets
6.73
6.99
7.27
9.77
4.3%
•
Convenience Stores
5.46
5.66
5.87
7.77
4.1%
•
In-Store Bakery
4.11
4.26
4.41
5.79
4.0%
•
Online
2.12
2.23
2.35
3.40
5.4%
•
Others
1.04
1.07
1.10
1.39
3.4%
Foodservice
8.89
9.17
9.46
12.05
3.6%
Total
28.36
29.38
30.46
40.17
4.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 51
GERMANY: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
6.08
6.27
6.47
8.23
3.5%
•
Supermarkets &
Hypermarkets
2.11
2.18
2.25
2.87
3.6%
•
Convenience Stores
1.69
1.74
1.79
2.25
3.3%
•
In-Store Bakery
1.26
1.30
1.33
1.66
3.2%
•
Online
0.71
0.74
0.77
1.06
4.6%
•
Others
0.31
0.32
0.32
0.39
2.7%
Foodservice
2.70
2.76
2.83
3.43
2.8%
Total
8.78
9.03
9.30
11.66
3.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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78
FORECAST TO 2028
9.3.6
UK
TABLE 52
UK: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
4.43
4.57
4.72
6.06
3.7%
•
Standard Bread
1.33
1.38
1.44
1.93
4.3%
•
Brioche
0.40
0.41
0.42
0.51
2.9%
•
Burger Bun
0.99
1.03
1.06
1.38
3.9%
•
Hot Dog Bun
0.64
0.66
0.68
0.87
3.6%
•
Tortilla
0.46
0.48
0.49
0.61
3.2%
•
Flat Bread
0.32
0.33
0.34
0.41
2.6%
•
Others
0.27
0.28
0.29
0.34
2.4%
Cakes & Pastries
2.59
2.66
2.73
3.38
3.1%
•
Angel Food Cake
0.26
0.27
0.27
0.33
2.7%
•
Layer Cake
0.22
0.23
0.23
0.27
2.5%
•
Panettone
0.17
0.18
0.18
0.21
2.1%
•
Cup Cake
0.72
0.75
0.77
1.00
3.8%
•
Mug Cake
0.37
0.38
0.39
0.48
2.9%
•
Muffins
0.69
0.71
0.73
0.91
3.2%
•
Others
0.15
0.15
0.16
0.18
1.9%
Cookies & Biscuits
2.28
2.33
2.38
2.88
2.8%
Bagels
1.26
1.27
1.29
1.47
1.9%
Donuts
1.32
1.35
1.37
1.60
2.3%
Pizza & Pizza Crust
1.06
1.08
1.09
1.23
1.7%
Pies & Tarts
1.65
1.69
1.72
2.05
2.5%
Brownies
0.82
0.82
0.83
0.89
1.1%
Others
0.83
0.84
0.84
0.90
1.0%
Total
16.24
16.60
16.98
20.46
2.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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79
FORECAST TO 2028
TABLE 53
UK: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
1.36
1.39
1.42
1.70
2.7%
•
Standard Bread
0.43
0.45
0.46
0.58
3.3%
•
Brioche
0.11
0.12
0.12
0.13
1.9%
•
Burger Bun
0.31
0.32
0.33
0.40
2.9%
•
Hot Dog Bun
0.20
0.20
0.20
0.24
2.6%
•
Tortilla
0.14
0.14
0.14
0.17
2.2%
•
Flat Bread
0.09
0.09
0.09
0.10
1.5%
•
Others
0.07
0.08
0.08
0.08
1.3%
Cakes & Pastries
0.75
0.76
0.78
0.92
2.4%
•
Angel Food Cake
0.07
0.07
0.08
0.09
1.9%
•
Layer Cake
0.06
0.06
0.06
0.07
1.7%
•
Panettone
0.05
0.05
0.05
0.05
1.3%
•
Cup Cake
0.22
0.22
0.23
0.28
3.0%
•
Mug Cake
0.11
0.11
0.11
0.13
2.2%
•
Muffins
0.20
0.20
0.21
0.25
2.4%
•
Others
0.04
0.04
0.04
0.04
1.1%
Cookies & Biscuits
0.64
0.65
0.66
0.76
2.1%
Bagels
0.32
0.33
0.33
0.36
1.3%
Donuts
0.35
0.36
0.36
0.40
1.6%
Pizza & Pizza Crust
0.27
0.27
0.27
0.30
1.2%
Pies & Tarts
0.45
0.46
0.47
0.53
1.9%
Brownies
0.19
0.20
0.20
0.21
0.9%
Others
0.19
0.19
0.19
0.20
0.8%
Total
4.53
4.60
4.68
5.38
2.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 54
UK: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
10.40
10.65
10.92
13.32
2.9%
Frozen
5.84
5.95
6.07
7.13
2.4%
Total
16.24
16.60
16.98
20.46
2.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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80
FORECAST TO 2028
TABLE 55
UK: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
2.93
2.98
3.04
3.54
2.3%
Frozen
1.59
1.61
1.64
1.84
1.7%
Total
4.53
4.60
4.68
5.38
2.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 56
UK: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
10.98
11.25
11.53
14.11
3.0%
•
Supermarkets &
Hypermarkets
3.78
3.88
3.98
4.88
3.0%
•
Convenience Stores
3.12
3.19
3.27
3.95
2.7%
•
In-Store Bakery
2.36
2.42
2.47
2.96
2.6%
•
Online
1.10
1.14
1.18
1.58
4.2%
•
Others
0.61
0.63
0.64
0.74
2.2%
Foodservice
5.26
5.35
5.45
6.35
2.3%
Total
16.24
16.60
16.98
20.46
2.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 57
UK: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
3.09
3.14
3.20
3.74
2.3%
•
Supermarkets &
Hypermarkets
1.07
1.09
1.11
1.30
2.3%
•
Convenience Stores
0.87
0.88
0.90
1.04
2.1%
•
In-Store Bakery
0.65
0.66
0.67
0.77
2.0%
•
Online
0.33
0.34
0.35
0.45
3.4%
•
Others
0.17
0.17
0.17
0.19
1.5%
Foodservice
1.44
1.46
1.47
1.64
1.6%
Total
4.53
4.60
4.68
5.38
2.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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81
FORECAST TO 2028
9.3.7
F R ANCE
TABLE 58
FRANCE: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
6.47
6.73
6.99
9.40
4.4%
•
Standard Bread
1.97
2.06
2.16
3.03
5.0%
•
Brioche
0.58
0.60
0.62
0.79
3.6%
•
Burger Bun
1.46
1.52
1.58
2.16
4.5%
•
Hot Dog Bun
0.94
0.97
1.01
1.35
4.2%
•
Tortilla
0.67
0.70
0.72
0.94
3.9%
•
Flat Bread
0.47
0.48
0.49
0.62
3.3%
•
Others
0.39
0.40
0.41
0.51
3.0%
Cakes & Pastries
3.75
3.87
4.00
5.19
3.8%
•
Angel Food Cake
0.38
0.39
0.40
0.50
3.3%
•
Layer Cake
0.32
0.33
0.33
0.41
3.1%
•
Panettone
0.25
0.25
0.26
0.32
2.8%
•
Cup Cake
1.06
1.10
1.15
1.56
4.5%
•
Mug Cake
0.54
0.55
0.57
0.73
3.6%
•
Muffins
1.00
1.03
1.07
1.40
3.9%
•
Others
0.21
0.22
0.22
0.27
2.6%
Cookies & Biscuits
3.27
3.37
3.47
4.41
3.5%
Bagels
1.78
1.81
1.85
2.21
2.6%
Donuts
1.88
1.93
1.98
2.42
3.0%
Pizza & Pizza Crust
1.50
1.53
1.56
1.84
2.4%
Pies & Tarts
2.37
2.43
2.50
3.11
3.2%
Brownies
1.14
1.16
1.17
1.33
1.8%
Others
1.15
1.17
1.18
1.31
1.5%
Total
23.31
23.99
24.71
31.21
3.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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82
FORECAST TO 2028
TABLE 59
FRANCE: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
2.09
2.15
2.22
2.82
3.5%
•
Standard Bread
0.68
0.70
0.73
0.97
4.1%
•
Brioche
0.17
0.18
0.18
0.22
2.7%
•
Burger Bun
0.48
0.50
0.51
0.66
3.7%
•
Hot Dog Bun
0.30
0.31
0.32
0.40
3.4%
•
Tortilla
0.21
0.21
0.22
0.27
3.1%
•
Flat Bread
0.14
0.14
0.14
0.17
2.3%
•
Others
0.11
0.11
0.12
0.13
2.0%
Cakes & Pastries
1.14
1.17
1.21
1.49
3.1%
•
Angel Food Cake
0.11
0.11
0.12
0.14
2.6%
•
Layer Cake
0.09
0.09
0.10
0.11
2.4%
•
Panettone
0.07
0.07
0.07
0.08
2.0%
•
Cup Cake
0.34
0.35
0.36
0.47
3.8%
•
Mug Cake
0.16
0.17
0.17
0.21
2.9%
•
Muffins
0.31
0.32
0.32
0.40
3.2%
•
Others
0.06
0.06
0.06
0.07
1.8%
Cookies & Biscuits
0.97
0.99
1.02
1.23
2.8%
Bagels
0.48
0.49
0.50
0.56
1.8%
Donuts
0.53
0.54
0.55
0.64
2.3%
Pizza & Pizza Crust
0.40
0.40
0.41
0.46
1.6%
Pies & Tarts
0.68
0.70
0.71
0.85
2.6%
Brownies
0.29
0.29
0.29
0.31
1.0%
Others
0.28
0.28
0.28
0.30
0.9%
Total
6.86
7.02
7.18
8.67
2.8%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 60
FRANCE: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
14.98
15.45
15.94
20.40
3.6%
Frozen
8.32
8.54
8.76
10.81
3.1%
Total
23.31
23.99
24.71
31.21
3.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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83
FORECAST TO 2028
TABLE 61
FRANCE: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
4.46
4.57
4.69
5.73
3.0%
Frozen
2.40
2.45
2.50
2.94
2.4%
Total
6.86
7.02
7.18
8.67
2.8%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 62
FRANCE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
15.82
16.32
16.85
21.61
3.7%
•
Supermarkets &
Hypermarkets
5.46
5.63
5.82
7.49
3.7%
•
Convenience Stores
4.48
4.61
4.76
6.02
3.4%
•
In-Store Bakery
3.39
3.49
3.59
4.51
3.3%
•
Online
1.62
1.70
1.77
2.47
4.9%
•
Others
0.87
0.89
0.92
1.12
2.8%
Foodservice
7.48
7.66
7.86
9.60
2.9%
Total
23.31
23.99
24.71
31.21
3.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 63
FRANCE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
4.70
4.82
4.94
6.05
3.0%
•
Supermarkets &
Hypermarkets
1.63
1.67
1.71
2.11
3.0%
•
Convenience Stores
1.32
1.35
1.38
1.67
2.8%
•
In-Store Bakery
0.99
1.01
1.03
1.24
2.6%
•
Online
0.52
0.54
0.56
0.74
4.1%
•
Others
0.25
0.25
0.26
0.30
2.1%
Foodservice
2.16
2.20
2.24
2.61
2.3%
Total
6.86
7.02
7.18
8.67
2.8%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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84
FORECAST TO 2028
9.3.8
SPAIN
TABLE 64
SPAIN: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
2.76
2.83
2.91
3.60
3.1%
•
Standard Bread
0.87
0.90
0.93
1.20
3.7%
•
Brioche
0.24
0.24
0.25
0.29
2.3%
•
Burger Bun
0.63
0.65
0.67
0.84
3.3%
•
Hot Dog Bun
0.40
0.41
0.42
0.52
3.0%
•
Tortilla
0.28
0.29
0.29
0.35
2.7%
•
Flat Bread
0.19
0.19
0.19
0.22
1.9%
•
Others
0.16
0.16
0.16
0.18
1.7%
Cakes & Pastries
1.55
1.58
1.61
1.93
2.6%
•
Angel Food Cake
0.15
0.15
0.16
0.18
2.1%
•
Layer Cake
0.13
0.13
0.13
0.15
1.9%
•
Panettone
0.10
0.10
0.10
0.11
1.5%
•
Cup Cake
0.46
0.47
0.48
0.60
3.2%
•
Mug Cake
0.22
0.22
0.23
0.27
2.4%
•
Muffins
0.41
0.42
0.43
0.52
2.7%
•
Others
0.08
0.08
0.08
0.09
1.3%
Cookies & Biscuits
1.33
1.35
1.38
1.61
2.3%
Bagels
0.68
0.69
0.70
0.76
1.4%
Donuts
0.74
0.75
0.76
0.86
1.8%
Pizza & Pizza Crust
0.57
0.57
0.58
0.63
1.2%
Pies & Tarts
0.94
0.96
0.97
1.12
2.0%
Brownies
0.42
0.42
0.42
0.44
0.5%
Others
0.42
0.42
0.42
0.42
0.1%
Total
9.41
9.57
9.75
11.35
2.2%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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85
FORECAST TO 2028
TABLE 65
SPAIN: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
0.80
0.82
0.83
0.95
2.0%
•
Standard Bread
0.27
0.28
0.28
0.34
2.6%
•
Brioche
0.06
0.06
0.07
0.07
1.2%
•
Burger Bun
0.19
0.19
0.19
0.23
2.2%
•
Hot Dog Bun
0.12
0.12
0.12
0.14
1.9%
•
Tortilla
0.08
0.08
0.08
0.09
1.6%
•
Flat Bread
0.05
0.05
0.05
0.05
0.7%
•
Others
0.04
0.04
0.04
0.04
0.4%
Cakes & Pastries
0.43
0.44
0.44
0.50
1.8%
•
Angel Food Cake
0.04
0.04
0.04
0.05
1.4%
•
Layer Cake
0.03
0.03
0.03
0.04
1.1%
•
Panettone
0.03
0.03
0.03
0.03
0.7%
•
Cup Cake
0.13
0.14
0.14
0.16
2.4%
•
Mug Cake
0.06
0.06
0.06
0.07
1.6%
•
Muffins
0.12
0.12
0.12
0.14
1.9%
•
Others
0.02
0.02
0.02
0.02
0.5%
Cookies & Biscuits
0.36
0.36
0.37
0.41
1.6%
Bagels
0.17
0.17
0.17
0.18
0.9%
Donuts
0.19
0.19
0.19
0.21
1.0%
Pizza & Pizza Crust
0.14
0.14
0.14
0.14
0.6%
Pies & Tarts
0.25
0.25
0.25
0.28
1.3%
Brownies
0.10
0.10
0.10
0.10
0.4%
Others
0.09
0.09
0.09
0.09
0.3%
Total
2.52
2.55
2.58
2.86
1.5%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 66
SPAIN: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
6.11
6.23
6.36
7.50
2.4%
Frozen
3.29
3.34
3.39
3.85
1.9%
Total
9.41
9.57
9.75
11.35
2.2%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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86
FORECAST TO 2028
TABLE 67
SPAIN: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
1.66
1.68
1.70
1.91
1.7%
Frozen
0.87
0.87
0.88
0.95
1.2%
Total
2.52
2.55
2.58
2.86
1.5%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 68
SPAIN: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
6.47
6.60
6.74
7.96
2.5%
•
Supermarkets &
Hypermarkets
2.24
2.28
2.33
2.77
2.5%
•
Convenience Stores
1.81
1.85
1.88
2.20
2.2%
•
In-Store Bakery
1.36
1.39
1.41
1.63
2.1%
•
Online
0.71
0.74
0.76
0.97
3.6%
•
Others
0.34
0.35
0.35
0.39
1.6%
Foodservice
2.93
2.97
3.01
3.39
1.7%
Total
9.41
9.57
9.75
11.35
2.2%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 69
SPAIN: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
1.75
1.78
1.80
2.03
1.8%
•
Supermarkets &
Hypermarkets
0.61
0.62
0.63
0.71
1.8%
•
Convenience Stores
0.49
0.49
0.50
0.55
1.5%
•
In-Store Bakery
0.36
0.37
0.37
0.41
1.4%
•
Online
0.21
0.21
0.22
0.26
2.8%
•
Others
0.09
0.09
0.09
0.09
0.9%
Foodservice
0.77
0.78
0.78
0.84
1.0%
Total
2.52
2.55
2.58
2.86
1.5%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.3.9
ITALY
TABLE 70
ITALY: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
3.13
3.22
3.31
4.14
3.3%
•
Standard Bread
1.00
1.04
1.07
1.40
3.9%
•
Brioche
0.26
0.27
0.28
0.33
2.5%
•
Burger Bun
0.72
0.74
0.76
0.97
3.5%
•
Hot Dog Bun
0.45
0.46
0.48
0.59
3.2%
•
Tortilla
0.31
0.32
0.33
0.40
2.8%
•
Flat Bread
0.21
0.21
0.21
0.25
2.1%
•
Others
0.17
0.17
0.18
0.20
1.9%
Cakes & Pastries
1.74
1.78
1.82
2.22
2.9%
•
Angel Food Cake
0.17
0.17
0.18
0.21
2.4%
•
Layer Cake
0.14
0.14
0.14
0.17
2.2%
•
Panettone
0.11
0.11
0.11
0.12
1.8%
•
Cup Cake
0.52
0.53
0.55
0.70
3.5%
•
Mug Cake
0.25
0.25
0.26
0.31
2.7%
•
Muffins
0.47
0.48
0.49
0.60
3.0%
•
Others
0.09
0.09
0.09
0.10
1.6%
Cookies & Biscuits
1.48
1.51
1.54
1.85
2.6%
Bagels
0.75
0.76
0.77
0.86
1.7%
Donuts
0.82
0.83
0.84
0.97
2.1%
Pizza & Pizza Crust
0.62
0.63
0.64
0.70
1.5%
Pies & Tarts
1.05
1.07
1.09
1.28
2.4%
Brownies
0.45
0.46
0.46
0.50
1.3%
Others
0.45
0.45
0.45
0.49
1.0%
Total
10.48
10.70
10.93
13.01
2.6%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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88
FORECAST TO 2028
TABLE 71
ITALY: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
0.93
0.95
0.97
1.14
2.4%
•
Standard Bread
0.32
0.33
0.33
0.41
3.0%
•
Brioche
0.07
0.07
0.07
0.08
1.6%
•
Burger Bun
0.22
0.22
0.23
0.27
2.6%
•
Hot Dog Bun
0.13
0.14
0.14
0.16
2.3%
•
Tortilla
0.09
0.09
0.09
0.11
1.9%
•
Flat Bread
0.06
0.06
0.06
0.06
1.1%
•
Others
0.04
0.04
0.05
0.05
0.8%
Cakes & Pastries
0.50
0.50
0.51
0.59
2.1%
•
Angel Food Cake
0.047
0.047
0.048
0.054
1.6%
•
Layer Cake
0.038
0.039
0.039
0.043
1.4%
•
Panettone
0.028
0.029
0.029
0.031
1.0%
•
Cup Cake
0.155
0.158
0.162
0.196
2.7%
•
Mug Cake
0.069
0.071
0.072
0.082
1.9%
•
Muffins
0.134
0.136
0.139
0.162
2.2%
•
Others
0.024
0.024
0.024
0.025
0.7%
Cookies & Biscuits
0.41
0.42
0.42
0.49
2.0%
Bagels
0.19
0.19
0.19
0.21
1.2%
Donuts
0.21
0.22
0.22
0.24
1.5%
Pizza & Pizza Crust
0.15
0.15
0.16
0.17
0.9%
Pies & Tarts
0.28
0.29
0.29
0.32
1.7%
Brownies
0.11
0.11
0.11
0.11
0.7%
Others
0.10
0.10
0.10
0.10
0.4%
Total
2.88
2.93
2.97
3.38
1.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 72
ITALY: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
6.84
6.99
7.16
8.63
2.8%
Frozen
3.64
3.71
3.77
4.38
2.2%
Total
10.48
10.70
10.93
13.01
2.6%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 73
ITALY: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
1.90
1.93
1.97
2.26
2.1%
Frozen
0.98
0.99
1.00
1.11
1.5%
Total
2.88
2.93
2.97
3.38
1.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 74
ITALY: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
7.24
7.41
7.58
9.17
2.8%
•
Supermarkets &
Hypermarkets
2.51
2.57
2.63
3.19
2.8%
•
Convenience Stores
2.02
2.06
2.11
2.52
2.6%
•
In-Store Bakery
1.52
1.55
1.58
1.87
2.4%
•
Online
0.82
0.85
0.88
1.14
3.9%
•
Others
0.38
0.38
0.39
0.44
1.9%
Foodservice
3.24
3.29
3.34
3.85
2.1%
Total
10.48
10.70
10.93
13.01
2.6%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 75
ITALY: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
2.011
2.044
2.079
2.400
2.1%
•
Supermarkets &
Hypermarkets
0.70
0.71
0.72
0.84
2.1%
•
Convenience Stores
0.56
0.56
0.57
0.65
1.9%
•
In-Store Bakery
0.41
0.42
0.43
0.48
1.8%
•
Online
0.24
0.25
0.26
0.32
3.1%
•
Others
0.10
0.10
0.10
0.11
1.2%
Foodservice
0.874
0.882
0.891
0.978
1.4%
Total
2.885
2.926
2.970
3.377
1.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.3.10 R EST OF EUR OPE
TABLE 76
REST OF EUROPE: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
8.50
8.70
8.92
10.83
2.9%
•
Standard Bread
2.64
2.73
2.81
3.57
3.5%
•
Brioche
0.74
0.75
0.77
0.89
2.1%
•
Burger Bun
1.93
1.98
2.03
2.51
3.0%
•
Hot Dog Bun
1.23
1.26
1.29
1.56
2.7%
•
Tortilla
0.87
0.89
0.91
1.07
2.4%
•
Flat Bread
0.59
0.60
0.61
0.68
1.7%
•
Others
0.49
0.50
0.51
0.56
1.5%
Cakes & Pastries
4.67
4.77
4.87
5.76
2.5%
•
Angel Food Cake
0.46
0.47
0.48
0.55
2.0%
•
Layer Cake
0.39
0.39
0.40
0.45
1.8%
•
Panettone
0.30
0.30
0.31
0.34
1.4%
•
Cup Cake
1.35
1.39
1.43
1.77
3.1%
•
Mug Cake
0.67
0.68
0.69
0.81
2.3%
•
Muffins
1.25
1.28
1.30
1.56
2.5%
•
Others
0.26
0.26
0.26
0.28
1.2%
Cookies & Biscuits
3.96
4.03
4.10
4.77
2.2%
Bagels
1.97
1.98
2.00
2.17
1.2%
Donuts
2.17
2.19
2.22
2.49
1.7%
Pizza & Pizza Crust
1.63
1.64
1.65
1.77
1.0%
Pies & Tarts
2.79
2.83
2.87
3.28
1.9%
Brownies
1.19
1.19
1.20
1.27
0.9%
Others
1.16
1.17
1.17
1.21
0.5%
Total
28.04
28.51
29.01
33.56
2.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 77
REST OF EUROPE: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
2.35
2.38
2.42
2.76
1.9%
•
Standard Bread
0.78
0.79
0.81
0.96
2.5%
•
Brioche
0.19
0.19
0.19
0.21
1.1%
•
Burger Bun
0.54
0.55
0.56
0.65
2.1%
•
Hot Dog Bun
0.34
0.34
0.35
0.39
1.8%
•
Tortilla
0.23
0.23
0.24
0.26
1.5%
•
Flat Bread
0.15
0.15
0.15
0.16
0.7%
•
Others
0.12
0.12
0.12
0.12
0.4%
Cakes & Pastries
1.27
1.28
1.30
1.45
1.6%
•
Angel Food Cake
0.12
0.12
0.12
0.13
1.2%
•
Layer Cake
0.10
0.10
0.10
0.11
0.9%
•
Panettone
0.08
0.08
0.08
0.08
0.5%
•
Cup Cake
0.38
0.39
0.40
0.47
2.2%
•
Mug Cake
0.18
0.18
0.18
0.20
1.4%
•
Muffins
0.34
0.35
0.35
0.39
1.7%
•
Others
0.06
0.06
0.06
0.07
0.3%
Cookies & Biscuits
1.06
1.07
1.08
1.20
1.5%
Bagels
0.50
0.50
0.51
0.53
0.8%
Donuts
0.56
0.57
0.57
0.62
1.1%
Pizza & Pizza Crust
0.41
0.41
0.41
0.43
0.6%
Pies & Tarts
0.74
0.74
0.75
0.81
1.2%
Brownies
0.30
0.30
0.30
0.31
0.5%
Others
0.29
0.29
0.29
0.29
0.3%
Total
7.47
7.55
7.63
8.40
1.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 78
REST OF EUROPE: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
18.14
18.48
18.84
22.08
2.3%
Frozen
9.90
10.03
10.17
11.49
1.8%
Total
28.04
28.51
29.01
33.56
2.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 79
REST OF EUROPE: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
4.89
4.95
5.01
5.58
1.6%
Frozen
2.58
2.60
2.62
2.81
1.1%
Total
7.47
7.55
7.63
8.40
1.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 80
REST OF EUROPE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
19.18
19.55
19.93
23.41
2.4%
•
Supermarkets &
Hypermarkets
6.63
6.76
6.89
8.13
2.4%
•
Convenience Stores
5.40
5.49
5.59
6.49
2.1%
•
In-Store Bakery
4.07
4.14
4.21
4.84
2.0%
•
Online
2.05
2.12
2.19
2.78
3.5%
•
Others
1.03
1.04
1.06
1.18
1.5%
Foodservice
8.86
8.96
9.08
10.15
1.7%
Total
28.04
28.51
29.01
33.56
2.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 81
REST OF EUROPE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
5.16
5.22
5.29
5.91
1.6%
•
Supermarkets &
Hypermarkets
1.79
1.81
1.83
2.06
1.7%
•
Convenience Stores
1.44
1.45
1.47
1.62
1.4%
•
In-Store Bakery
1.08
1.09
1.10
1.20
1.3%
•
Online
0.59
0.61
0.62
0.75
2.7%
•
Others
0.27
0.27
0.27
0.28
0.8%
Foodservice
2.32
2.33
2.34
2.49
0.9%
Total
7.47
7.55
7.63
8.40
1.4%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.4
ASIA-PACIFIC
Asia-Pacific is expected to be an attractive regional market for the manufacturers of bakery products during the review period. The
region has accounted for a market share of 25.70% in the global bakery products market. The region is projected to expand at the
highest CAGR of 4.0% during the forecast period of 2021-2028. The significant factors for the rising growth of bakery products are the
increasingly hectic lifestyles of the consumers coupled with the popularity of convenient food products in the emerging economies.
Consumers are opting for nutritious bakery products with enhanced shelf life which, in turn, propels the growth of the Asia-Pacific
bakery products market. Also, the organized retail sector in developing economies of the Asia-Pacific region has witnessed rapid
growth over the last few years which is anticipated to act as a major factor for the growth of the bakery products market in the AsiaPacific region. Online retailing is one of the major trends in emerging economies. Also, the increasing per capita disposable income
of the consumers is further expected to fuel the growth of the bakery products market in the Asia-Pacific region. China has accounted
for a 34.34% share in the Asia-Pacific bakery products market in 2020 and is estimated to retain its dominance throughout the forecast
period.
FIGURE 27
ASIA-PACIFIC: BAKERY PRODUCTS MARKET SHARE, BY COUNTRY, 2020 (% SHARE)
26.39%
34.34%
China
Japan
India
Australia & New Zealand
8.54%
Rest of Asia-Pacific
13.73%
17.00%
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.4.1
ASIA- PACIFIC BAKER Y PR ODUCTS MAR KET ESTIMATES & F OR ECAST, B Y COUNTR Y, 2019–
2028
TABLE 82
ASIA-PACIFIC: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028 (USD BILLION)
Country
CAGR
2019
2020
2021
2028
China
27.96
29.17
30.45
42.14
4.8%
Japan
13.91
14.44
15.00
20.13
4.3%
India
11.28
11.66
12.07
15.70
3.9%
Australia & New Zealand
7.02
7.25
7.50
9.70
3.8%
Rest of Asia-Pacific
21.87
22.42
22.99
28.03
2.9%
Total
82.05
84.94
88.01
115.70
4.0%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 83
ASIA-PACIFIC: MARKET ESTIMATES, BY COUNTRY, 2019–2028 (MILLION TONS)
Country
CAGR
2019
2020
2021
2028
China
9.17
9.51
9.86
12.99
4.1%
India
4.44
4.58
4.73
6.05
3.6%
Japan
3.51
3.60
3.70
4.60
3.2%
Australia & New Zealand
2.17
2.23
2.29
2.83
3.1%
Rest of Asia-Pacific
6.44
6.56
6.68
7.73
2.2%
Total
25.74
26.48
27.26
34.21
3.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.4.2
ASIA- PACIFIC BAKER Y PR ODUCTS MAR KET ESTIMATES & F OR ECAST, BY PR ODUCT TYPE,
2019–2028
TABLE 84
ASIA-PACIFIC: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
23.36
24.41
25.52
35.66
4.9%
•
Standard Bread
7.23
7.60
8.00
11.68
5.6%
•
Brioche
2.05
2.13
2.21
2.93
4.2%
•
Burger Bun
5.29
5.54
5.80
8.23
5.1%
•
Hot Dog Bun
3.38
3.53
3.69
5.13
4.8%
•
Tortilla
2.40
2.50
2.60
3.54
4.5%
•
Flat Bread
1.64
1.69
1.75
2.27
3.8%
•
Others
1.37
1.42
1.47
1.87
3.6%
Cakes & Pastries
13.32
13.85
14.40
19.42
4.4%
•
Angel Food Cake
1.32
1.37
1.42
1.86
3.9%
•
Layer Cake
1.11
1.15
1.18
1.53
3.7%
•
Panettone
0.86
0.89
0.92
1.15
3.3%
•
Cup Cake
3.83
4.01
4.20
5.93
5.1%
•
Mug Cake
1.90
1.98
2.05
2.74
4.2%
•
Muffins
3.56
3.70
3.86
5.24
4.5%
•
Others
0.74
0.76
0.78
0.97
3.2%
Cookies & Biscuits
11.53
11.95
12.39
16.37
4.1%
Bagels
6.12
6.28
6.46
8.00
3.2%
Donuts
6.55
6.75
6.97
8.87
3.6%
Pizza & Pizza Crust
5.14
5.27
5.40
6.62
3.0%
Pies & Tarts
8.28
8.56
8.85
11.47
3.8%
Brownies
3.86
3.93
4.01
4.70
2.3%
Others
3.87
3.94
4.01
4.59
2.0%
Total
82.05
84.94
88.01
115.70
4.0%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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96
FORECAST TO 2028
TABLE 85
ASIA-PACIFIC: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
7.98
8.27
8.58
11.31
4.0%
•
Standard Bread
2.63
2.74
2.86
3.93
4.6%
•
Brioche
0.65
0.67
0.69
0.86
3.2%
•
Burger Bun
1.85
1.92
1.99
2.67
4.2%
•
Hot Dog Bun
1.15
1.19
1.23
1.61
3.9%
•
Tortilla
0.79
0.81
0.84
1.08
3.6%
•
Flat Bread
0.50
0.52
0.53
0.64
2.8%
•
Others
0.41
0.42
0.43
0.51
2.5%
Cakes & Pastries
4.33
4.47
4.62
5.94
3.6%
•
Angel Food Cake
0.42
0.43
0.44
0.55
3.2%
•
Layer Cake
0.35
0.35
0.36
0.45
3.0%
•
Panettone
0.26
0.27
0.27
0.33
2.6%
•
Cup Cake
1.31
1.36
1.41
1.90
4.3%
•
Mug Cake
0.61
0.63
0.65
0.83
3.5%
•
Muffins
1.17
1.21
1.25
1.61
3.8%
•
Others
0.22
0.23
0.23
0.27
2.3%
Cookies & Biscuits
3.64
3.75
3.86
4.87
3.4%
Bagels
1.77
1.80
1.84
2.17
2.4%
Donuts
1.97
2.01
2.06
2.51
2.8%
Pizza & Pizza Crust
1.46
1.49
1.51
1.76
2.2%
Pies & Tarts
2.55
2.62
2.69
3.32
3.1%
Brownies
1.03
1.05
1.06
1.19
1.6%
Others
1.00
1.02
1.03
1.14
1.5%
Total
25.74
26.48
27.26
34.21
3.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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97
FORECAST TO 2028
9.4.3
ASIA- PACIFIC BAKER Y PR ODUCTS MAR KET ESTIMATES & F OR ECAST, BY CATEGOR Y,
2019–2028
TABLE 86
ASIA-PACIFIC: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
52.99
54.96
57.05
75.98
4.2%
Frozen
29.05
29.98
30.95
39.72
3.7%
Total
82.05
84.94
88.01
115.70
4.0%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 87
ASIA-PACIFIC: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
16.81
17.33
17.87
22.71
3.5%
Frozen
8.93
9.15
9.39
11.50
3.0%
Total
25.74
26.48
27.26
34.21
3.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.4.4
ASIA- PACIFIC BAKER Y PR ODUCTS MAR KET ESTIMATES & F OR ECAST, BY DISTR IBUTION
CHANNEL, 2019–2028
TABLE 88
ASIA-PACIFIC: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
56.01
58.12
60.35
80.56
4.3%
•
Supermarkets &
Hypermarkets
19.34
20.08
20.86
27.96
4.3%
•
Convenience Stores
15.79
16.36
16.95
22.35
4.0%
•
In-Store Bakery
11.91
12.33
12.76
16.70
3.9%
•
Online
5.93
6.23
6.55
9.47
5.4%
•
Others
3.04
3.13
3.22
4.08
3.4%
Foodservice
26.03
26.82
27.66
35.14
3.5%
Total
82.05
84.94
88.01
115.70
4.0%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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98
FORECAST TO 2028
TABLE 89
ASIA-PACIFIC: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
17.73
18.28
18.86
24.03
3.6%
•
Supermarkets &
Hypermarkets
6.14
6.34
6.54
8.37
3.6%
•
Convenience Stores
4.94
5.09
5.24
6.59
3.3%
•
In-Store Bakery
3.71
3.81
3.92
4.89
3.2%
•
Online
2.02
2.10
2.19
3.01
4.6%
•
Others
0.92
0.94
0.96
1.16
2.7%
Foodservice
8.01
8.20
8.40
10.18
2.8%
Total
25.74
26.48
27.26
34.21
3.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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99
FORECAST TO 2028
9.4.5
CHINA
TABLE 90
CHINA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
8.13
8.56
9.01
13.24
5.7%
•
Standard Bread
2.56
2.71
2.87
4.40
6.3%
•
Brioche
0.70
0.73
0.77
1.07
4.9%
•
Burger Bun
1.85
1.95
2.06
3.07
5.9%
•
Hot Dog Bun
1.17
1.24
1.30
1.90
5.6%
•
Tortilla
0.83
0.87
0.91
1.30
5.2%
•
Flat Bread
0.56
0.58
0.60
0.82
4.5%
•
Others
0.46
0.48
0.50
0.67
4.3%
Cakes & Pastries
4.58
4.80
5.02
7.13
5.2%
•
Angel Food Cake
0.45
0.47
0.49
0.67
4.7%
•
Layer Cake
0.38
0.39
0.41
0.55
4.5%
•
Panettone
0.29
0.30
0.31
0.41
4.1%
•
Cup Cake
1.34
1.41
1.49
2.21
5.8%
•
Mug Cake
0.65
0.68
0.71
1.00
5.0%
•
Muffins
1.23
1.29
1.35
1.93
5.2%
•
Others
0.25
0.26
0.26
0.35
3.9%
Cookies & Biscuits
3.94
4.11
4.29
5.97
4.9%
Bagels
2.05
2.12
2.19
2.86
3.9%
Donuts
2.21
2.30
2.39
3.20
4.3%
Pizza & Pizza Crust
1.71
1.77
1.83
2.35
3.7%
Pies & Tarts
2.81
2.93
3.05
4.16
4.6%
Brownies
1.27
1.30
1.34
1.65
3.0%
Others
1.27
1.30
1.33
1.58
2.6%
Total
27.96
29.17
30.45
42.14
4.8%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 91
CHINA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
2.90
3.03
3.16
4.38
4.8%
•
Standard Bread
0.97
1.02
1.07
1.54
5.4%
•
Brioche
0.23
0.24
0.25
0.33
4.0%
•
Burger Bun
0.67
0.71
0.74
1.04
5.0%
•
Hot Dog Bun
0.42
0.43
0.45
0.62
4.7%
•
Tortilla
0.28
0.29
0.31
0.41
4.3%
•
Flat Bread
0.18
0.18
0.19
0.24
3.5%
•
Others
0.15
0.15
0.15
0.19
3.2%
Cakes & Pastries
1.56
1.62
1.69
2.28
4.4%
•
Angel Food Cake
0.15
0.15
0.16
0.21
3.9%
•
Layer Cake
0.12
0.13
0.13
0.17
3.7%
•
Panettone
0.09
0.09
0.10
0.12
3.3%
•
Cup Cake
0.48
0.50
0.52
0.74
5.0%
•
Mug Cake
0.22
0.23
0.24
0.32
4.2%
•
Muffins
0.42
0.44
0.46
0.62
4.5%
•
Others
0.08
0.08
0.08
0.10
3.0%
Cookies & Biscuits
1.30
1.35
1.40
1.85
4.1%
Bagels
0.62
0.63
0.65
0.80
3.1%
Donuts
0.69
0.71
0.74
0.94
3.6%
Pizza & Pizza Crust
0.51
0.52
0.53
0.65
2.9%
Pies & Tarts
0.90
0.93
0.97
1.26
3.9%
Brownies
0.35
0.36
0.37
0.43
2.2%
Others
0.34
0.35
0.35
0.41
2.0%
Total
9.17
9.51
9.86
12.99
4.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 92
CHINA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
18.14
18.96
19.83
27.80
5.0%
Frozen
9.82
10.21
10.62
14.34
4.4%
Total
27.96
29.17
30.45
42.14
4.8%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 93
CHINA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
6.02
6.25
6.49
8.66
4.3%
Frozen
3.15
3.26
3.37
4.33
3.7%
Total
9.17
9.51
9.86
12.99
4.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 94
CHINA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
19.20
20.07
21.00
29.50
5.0%
•
Supermarkets &
Hypermarkets
6.64
6.94
7.27
10.25
5.0%
•
Convenience Stores
5.39
5.62
5.87
8.15
4.8%
•
In-Store Bakery
4.05
4.23
4.41
6.07
4.7%
•
Online
2.09
2.22
2.35
3.56
6.2%
•
Others
1.02
1.06
1.10
1.46
4.2%
Foodservice
8.77
9.10
9.45
12.64
4.3%
Total
27.96
29.17
30.45
42.14
4.8%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 95
CHINA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
6.35
6.60
6.86
9.17
4.3%
•
Supermarkets &
Hypermarkets
2.20
2.29
2.38
3.20
4.3%
•
Convenience Stores
1.76
1.83
1.90
2.51
4.1%
•
In-Store Bakery
1.32
1.37
1.42
1.85
3.9%
•
Online
0.74
0.78
0.82
1.18
5.3%
•
Others
0.32
0.33
0.34
0.43
3.4%
Foodservice
2.82
2.91
3.00
3.82
3.5%
Total
9.17
9.51
9.86
12.99
4.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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102
FORECAST TO 2028
9.4.6
INDIA
TABLE 96
INDIA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
3.13
3.27
3.41
4.73
4.8%
•
Standard Bread
0.95
1.00
1.05
1.52
5.4%
•
Brioche
0.28
0.29
0.30
0.40
4.0%
•
Burger Bun
0.71
0.74
0.77
1.09
5.0%
•
Hot Dog Bun
0.45
0.47
0.49
0.68
4.7%
•
Tortilla
0.33
0.34
0.35
0.47
4.4%
•
Flat Bread
0.23
0.23
0.24
0.31
3.7%
•
Others
0.19
0.20
0.20
0.26
3.5%
Cakes & Pastries
1.81
1.88
1.95
2.61
4.3%
•
Angel Food Cake
0.18
0.19
0.19
0.25
3.8%
•
Layer Cake
0.15
0.16
0.16
0.21
3.6%
•
Panettone
0.12
0.12
0.13
0.16
3.2%
•
Cup Cake
0.51
0.54
0.56
0.78
4.9%
•
Mug Cake
0.26
0.27
0.28
0.37
4.1%
•
Muffins
0.48
0.50
0.52
0.70
4.3%
•
Others
0.10
0.11
0.11
0.13
3.1%
Cookies & Biscuits
1.58
1.64
1.70
2.22
4.0%
Bagels
0.86
0.88
0.90
1.11
3.0%
Donuts
0.91
0.94
0.97
1.22
3.4%
Pizza & Pizza Crust
0.72
0.74
0.76
0.92
2.9%
Pies & Tarts
1.15
1.18
1.22
1.57
3.7%
Brownies
0.55
0.56
0.57
0.67
2.3%
Others
0.56
0.57
0.58
0.66
1.9%
Total
11.28
11.66
12.07
15.70
3.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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103
FORECAST TO 2028
TABLE 97
INDIA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
1.07
1.11
1.14
1.50
4.0%
•
Standard Bread
0.35
0.36
0.38
0.51
4.5%
•
Brioche
0.09
0.09
0.09
0.12
3.1%
•
Burger Bun
0.25
0.25
0.26
0.35
4.1%
•
Hot Dog Bun
0.15
0.16
0.16
0.21
3.8%
•
Tortilla
0.11
0.11
0.11
0.14
3.5%
•
Flat Bread
0.07
0.07
0.07
0.09
2.7%
•
Others
0.06
0.06
0.06
0.07
2.5%
Cakes & Pastries
0.59
0.60
0.62
0.79
3.6%
•
Angel Food Cake
0.06
0.06
0.06
0.07
3.1%
•
Layer Cake
0.05
0.05
0.05
0.06
2.8%
•
Panettone
0.04
0.04
0.04
0.04
2.5%
•
Cup Cake
0.17
0.18
0.19
0.25
4.2%
•
Mug Cake
0.08
0.09
0.09
0.11
3.4%
•
Muffins
0.16
0.16
0.17
0.21
3.6%
•
Others
0.03
0.03
0.03
0.04
2.3%
Cookies & Biscuits
0.50
0.51
0.52
0.65
3.3%
Bagels
0.25
0.25
0.26
0.30
2.3%
Donuts
0.27
0.28
0.28
0.34
2.7%
Pizza & Pizza Crust
0.20
0.21
0.21
0.24
2.1%
Pies & Tarts
0.35
0.36
0.37
0.45
3.0%
Brownies
0.15
0.15
0.15
0.17
1.5%
Others
0.14
0.14
0.15
0.16
1.3%
Total
3.51
3.60
3.70
4.60
3.2%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 98
INDIA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
7.25
7.51
7.79
10.26
4.1%
Frozen
4.03
4.15
4.28
5.44
3.5%
Total
11.28
11.66
12.07
15.70
3.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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104
FORECAST TO 2028
TABLE 99
INDIA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
2.28
2.35
2.42
3.04
3.4%
Frozen
1.23
1.26
1.29
1.56
2.8%
Total
3.51
3.60
3.70
4.60
3.2%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 100
INDIA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
7.66
7.94
8.23
10.87
4.1%
•
Supermarkets &
Hypermarkets
2.64
2.74
2.84
3.77
4.1%
•
Convenience Stores
2.17
2.24
2.32
3.03
3.9%
•
In-Store Bakery
1.64
1.70
1.75
2.27
3.8%
•
Online
0.79
0.82
0.87
1.24
5.3%
•
Others
0.42
0.43
0.45
0.56
3.3%
Foodservice
3.62
3.73
3.84
4.83
3.4%
Total
11.28
11.66
12.07
15.70
3.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 101
INDIA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
2.40
2.47
2.55
3.21
3.4%
•
Supermarkets &
Hypermarkets
0.83
0.86
0.88
1.12
3.4%
•
Convenience Stores
0.67
0.69
0.71
0.89
3.2%
•
In-Store Bakery
0.51
0.52
0.53
0.66
3.1%
•
Online
0.27
0.28
0.29
0.39
4.5%
•
Others
0.13
0.13
0.13
0.16
2.6%
Foodservice
1.11
1.13
1.16
1.39
2.7%
Total
3.51
3.60
3.70
4.60
3.2%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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105
FORECAST TO 2028
9.4.7
JAPAN
TABLE 102
JAPAN: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
3.79
3.97
4.17
5.96
5.2%
•
Standard Bread
1.139
1.202
1.269
1.897
5.9%
•
Brioche
0.343
0.357
0.372
0.507
4.5%
•
Burger Bun
0.850
0.893
0.938
1.362
5.5%
•
Hot Dog Bun
0.550
0.577
0.604
0.860
5.2%
•
Tortilla
0.397
0.414
0.433
0.602
4.8%
•
Flat Bread
0.278
0.288
0.300
0.399
4.2%
•
Others
0.235
0.244
0.253
0.332
4.0%
Cakes & Pastries
2.22
2.31
2.41
3.32
4.7%
•
Angel Food Cake
0.22
0.23
0.24
0.32
4.3%
•
Layer Cake
0.19
0.20
0.20
0.27
4.0%
•
Panettone
0.15
0.15
0.16
0.21
3.7%
•
Cup Cake
0.62
0.65
0.68
0.98
5.4%
•
Mug Cake
0.32
0.33
0.35
0.47
4.5%
•
Muffins
0.59
0.62
0.64
0.89
4.8%
•
Others
0.13
0.13
0.14
0.17
3.5%
Cookies & Biscuits
1.95
2.02
2.11
2.84
4.4%
Bagels
1.08
1.11
1.14
1.45
3.4%
Donuts
1.13
1.17
1.21
1.58
3.8%
Pizza & Pizza Crust
0.91
0.94
0.96
1.21
3.3%
Pies & Tarts
1.42
1.47
1.52
2.02
4.1%
Brownies
0.70
0.72
0.73
0.88
2.6%
Others
0.71
0.73
0.74
0.89
2.5%
Total
13.91
14.44
15.00
20.13
4.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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106
FORECAST TO 2028
TABLE 103
JAPAN: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
1.33
1.38
1.44
1.92
4.2%
•
Standard Bread
0.43
0.45
0.47
0.65
4.9%
•
Brioche
0.11
0.12
0.12
0.15
3.5%
•
Burger Bun
0.30
0.32
0.33
0.45
4.5%
•
Hot Dog Bun
0.19
0.20
0.21
0.27
4.2%
•
Tortilla
0.13
0.14
0.14
0.19
3.8%
•
Flat Bread
0.09
0.09
0.09
0.12
3.1%
•
Others
0.07
0.07
0.08
0.09
2.8%
Cakes & Pastries
0.74
0.76
0.79
1.03
3.9%
•
Angel Food Cake
0.07
0.07
0.08
0.10
3.5%
•
Layer Cake
0.06
0.06
0.06
0.08
3.2%
•
Panettone
0.05
0.05
0.05
0.06
2.9%
•
Cup Cake
0.21
0.22
0.23
0.32
4.6%
•
Mug Cake
0.10
0.11
0.11
0.14
3.8%
•
Muffins
0.20
0.20
0.21
0.28
4.0%
•
Others
0.04
0.04
0.04
0.05
2.7%
Cookies & Biscuits
0.63
0.65
0.67
0.86
3.7%
Bagels
0.32
0.32
0.33
0.41
2.8%
Donuts
0.35
0.36
0.37
0.45
3.1%
Pizza & Pizza Crust
0.26
0.27
0.28
0.33
2.7%
Pies & Tarts
0.44
0.46
0.47
0.59
3.4%
Brownies
0.19
0.20
0.20
0.24
2.4%
Others
0.19
0.19
0.19
0.23
2.3%
Total
4.44
4.58
4.73
6.05
3.6%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 104
JAPAN: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
8.91
9.27
9.65
13.11
4.5%
Frozen
5.00
5.17
5.36
7.02
4.0%
Total
13.91
14.44
15.00
20.13
4.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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107
FORECAST TO 2028
TABLE 105
JAPAN: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
2.88
2.97
3.07
3.99
3.8%
Frozen
1.56
1.61
1.66
2.07
3.3%
Total
4.44
4.58
4.73
6.05
3.6%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 106
JAPAN: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
9.40
9.78
10.19
13.88
4.6%
•
Supermarkets &
Hypermarkets
3.24
3.37
3.51
4.81
4.6%
•
Convenience Stores
2.67
2.78
2.89
3.88
4.3%
•
In-Store Bakery
2.02
2.10
2.18
2.92
4.2%
•
Online
0.94
0.99
1.05
1.55
5.8%
•
Others
0.53
0.54
0.56
0.73
3.7%
Foodservice
4.51
4.66
4.82
6.25
3.8%
Total
13.91
14.44
15.00
20.13
4.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 107
JAPAN: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
3.03
3.13
3.24
4.21
3.9%
•
Supermarkets &
Hypermarkets
1.05
1.08
1.12
1.46
3.9%
•
Convenience Stores
0.85
0.88
0.91
1.17
3.6%
•
In-Store Bakery
0.64
0.66
0.68
0.87
3.5%
•
Online
0.33
0.34
0.36
0.50
5.0%
•
Others
0.16
0.17
0.17
0.21
3.0%
Foodservice
1.41
1.45
1.49
1.84
3.1%
Total
4.44
4.58
4.73
6.05
3.6%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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108
FORECAST TO 2028
9.4.8
AUSTR ALIA & NEW ZEALAND
TABLE 108
AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
2.06
2.15
2.24
3.07
4.7%
•
Standard Bread
0.65
0.68
0.72
1.03
5.3%
•
Brioche
0.18
0.18
0.19
0.25
3.9%
•
Burger Bun
0.47
0.49
0.51
0.71
4.8%
•
Hot Dog Bun
0.30
0.31
0.32
0.44
4.5%
•
Tortilla
0.21
0.22
0.23
0.30
4.2%
•
Flat Bread
0.14
0.14
0.15
0.19
3.5%
•
Others
0.12
0.12
0.12
0.15
3.2%
Cakes & Pastries
1.15
1.20
1.24
1.65
4.2%
•
Angel Food Cake
0.11
0.12
0.12
0.16
3.7%
•
Layer Cake
0.09
0.10
0.10
0.13
3.5%
•
Panettone
0.07
0.07
0.08
0.09
3.1%
•
Cup Cake
0.34
0.35
0.37
0.51
4.8%
•
Mug Cake
0.16
0.17
0.18
0.23
4.0%
•
Muffins
0.31
0.32
0.33
0.45
4.2%
•
Others
0.06
0.06
0.06
0.08
2.9%
Cookies & Biscuits
0.99
1.02
1.06
1.37
3.9%
Bagels
0.51
0.52
0.54
0.65
2.9%
Donuts
0.55
0.57
0.58
0.73
3.3%
Pizza & Pizza Crust
0.43
0.44
0.45
0.54
2.7%
Pies & Tarts
0.70
0.73
0.75
0.96
3.6%
Brownies
0.31
0.32
0.32
0.37
2.0%
Others
0.31
0.32
0.32
0.36
1.6%
Total
7.02
7.25
7.50
9.70
3.8%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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109
FORECAST TO 2028
TABLE 109
AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
0.69
0.72
0.74
0.96
3.8%
•
Standard Bread
0.23
0.24
0.25
0.34
4.4%
•
Brioche
0.06
0.06
0.06
0.07
3.0%
•
Burger Bun
0.16
0.17
0.17
0.23
4.0%
•
Hot Dog Bun
0.10
0.10
0.11
0.14
3.7%
•
Tortilla
0.07
0.07
0.07
0.09
3.3%
•
Flat Bread
0.04
0.04
0.04
0.05
2.5%
•
Others
0.03
0.03
0.04
0.04
2.2%
Cakes & Pastries
0.37
0.38
0.39
0.50
3.4%
•
Angel Food Cake
0.04
0.04
0.04
0.05
3.0%
•
Layer Cake
0.03
0.03
0.03
0.04
2.7%
•
Panettone
0.02
0.02
0.02
0.03
2.3%
•
Cup Cake
0.11
0.12
0.12
0.16
4.1%
•
Mug Cake
0.05
0.05
0.06
0.07
3.3%
•
Muffins
0.10
0.10
0.11
0.14
3.5%
•
Others
0.02
0.02
0.02
0.02
2.1%
Cookies & Biscuits
0.31
0.32
0.33
0.40
3.2%
Bagels
0.14
0.15
0.15
0.17
2.1%
Donuts
0.16
0.17
0.17
0.20
2.6%
Pizza & Pizza Crust
0.12
0.12
0.12
0.14
1.9%
Pies & Tarts
0.21
0.22
0.22
0.27
2.9%
Brownies
0.08
0.08
0.08
0.09
1.2%
Others
0.08
0.08
0.08
0.09
1.0%
Total
2.17
2.23
2.29
2.83
3.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 110
AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
4.57
4.72
4.89
6.41
4.0%
Frozen
2.46
2.53
2.61
3.29
3.4%
Total
7.02
7.25
7.50
9.70
3.8%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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110
FORECAST TO 2028
TABLE 111
AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
1.43
1.47
1.51
1.89
3.3%
Frozen
0.74
0.76
0.78
0.94
2.7%
Total
2.17
2.23
2.29
2.83
3.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 112
AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD
BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
4.83
5.00
5.18
6.80
4.0%
•
Supermarkets &
Hypermarkets
1.67
1.73
1.79
2.37
4.0%
•
Convenience Stores
1.35
1.40
1.45
1.88
3.8%
•
In-Store Bakery
1.02
1.05
1.08
1.40
3.7%
•
Online
0.53
0.56
0.59
0.83
5.1%
•
Others
0.26
0.26
0.27
0.33
3.1%
Foodservice
2.19
2.25
2.32
2.89
3.3%
Total
7.02
7.25
7.50
9.70
3.8%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 113
AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION
TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
1.51
1.55
1.60
2.00
3.3%
•
Supermarkets &
Hypermarkets
0.52
0.54
0.55
0.70
3.3%
•
Convenience Stores
0.42
0.43
0.44
0.55
3.1%
•
In-Store Bakery
0.31
0.32
0.33
0.40
3.0%
•
Online
0.18
0.19
0.19
0.26
4.3%
•
Others
0.08
0.08
0.08
0.09
2.4%
Foodservice
0.66
0.68
0.69
0.83
2.6%
Total
2.17
2.23
2.29
2.83
3.1%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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111
FORECAST TO 2028
9.4.9
R EST OF ASIA- PACIFIC
TABLE 114
REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
6.25
6.46
6.68
8.66
3.8%
•
Standard Bread
1.93
2.01
2.09
2.83
4.4%
•
Brioche
0.55
0.56
0.58
0.71
3.0%
•
Burger Bun
1.41
1.46
1.52
2.00
4.0%
•
Hot Dog Bun
0.90
0.93
0.97
1.25
3.7%
•
Tortilla
0.64
0.66
0.68
0.86
3.4%
•
Flat Bread
0.44
0.45
0.46
0.55
2.7%
•
Others
0.37
0.38
0.39
0.46
2.5%
Cakes & Pastries
3.56
3.66
3.77
4.71
3.3%
•
Angel Food Cake
0.35
0.36
0.37
0.45
2.8%
•
Layer Cake
0.30
0.30
0.31
0.37
2.6%
•
Panettone
0.23
0.24
0.24
0.28
2.2%
•
Cup Cake
1.02
1.06
1.10
1.44
3.9%
•
Mug Cake
0.51
0.52
0.54
0.66
3.1%
•
Muffins
0.95
0.98
1.01
1.27
3.4%
•
Others
0.20
0.20
0.20
0.24
2.1%
Cookies & Biscuits
3.08
3.15
3.24
3.97
3.0%
Bagels
1.63
1.65
1.68
1.93
2.0%
Donuts
1.74
1.78
1.82
2.15
2.5%
Pizza & Pizza Crust
1.36
1.39
1.41
1.60
1.9%
Pies & Tarts
2.21
2.26
2.31
2.78
2.7%
Brownies
1.02
1.03
1.04
1.13
1.2%
Others
1.03
1.03
1.04
1.11
0.9%
Total
21.87
22.42
22.99
28.03
2.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 115
REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
2.00
2.05
2.10
2.55
2.9%
•
Standard Bread
0.66
0.68
0.70
0.88
3.4%
•
Brioche
0.16
0.17
0.17
0.19
2.0%
•
Burger Bun
0.46
0.47
0.49
0.60
3.1%
•
Hot Dog Bun
0.29
0.29
0.30
0.36
2.8%
•
Tortilla
0.20
0.20
0.21
0.24
2.4%
•
Flat Bread
0.13
0.13
0.13
0.15
1.6%
•
Others
0.10
0.10
0.11
0.12
1.3%
Cakes & Pastries
1.08
1.11
1.13
1.34
2.5%
•
Angel Food Cake
0.10
0.11
0.11
0.12
2.0%
•
Layer Cake
0.09
0.09
0.09
0.10
1.8%
•
Panettone
0.07
0.07
0.07
0.07
1.4%
•
Cup Cake
0.33
0.34
0.34
0.43
3.1%
•
Mug Cake
0.15
0.16
0.16
0.19
2.3%
•
Muffins
0.29
0.30
0.31
0.36
2.6%
•
Others
0.06
0.06
0.06
0.06
1.2%
Cookies & Biscuits
0.91
0.93
0.95
1.10
2.2%
Bagels
0.44
0.45
0.45
0.49
1.3%
Donuts
0.49
0.50
0.51
0.57
1.7%
Pizza & Pizza Crust
0.37
0.37
0.37
0.40
1.1%
Pies & Tarts
0.64
0.65
0.66
0.75
1.9%
Brownies
0.26
0.26
0.26
0.27
0.5%
Others
0.25
0.25
0.25
0.26
0.4%
Total
6.44
6.56
6.68
7.73
2.2%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 116
REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
14.12
14.50
14.90
18.40
3.1%
Frozen
7.75
7.92
8.09
9.63
2.6%
Total
21.87
22.42
22.99
28.03
2.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 117
REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
4.21
4.29
4.38
5.13
2.3%
Frozen
2.24
2.27
2.30
2.60
1.8%
Total
6.44
6.56
6.68
7.73
2.2%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 118
REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
14.93
15.33
15.75
19.51
3.1%
•
Supermarkets &
Hypermarkets
5.15
5.30
5.45
6.77
3.2%
•
Convenience Stores
4.21
4.32
4.43
5.42
2.9%
•
In-Store Bakery
3.18
3.25
3.33
4.05
2.8%
•
Online
1.58
1.64
1.70
2.29
4.3%
•
Others
0.81
0.83
0.84
0.99
2.3%
Foodservice
6.95
7.09
7.23
8.53
2.4%
Total
21.87
22.42
22.99
28.03
2.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 119
REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
4.44
4.52
4.62
5.43
2.4%
•
Supermarkets &
Hypermarkets
1.54
1.57
1.60
1.89
2.4%
•
Convenience Stores
1.24
1.26
1.28
1.49
2.2%
•
In-Store Bakery
0.93
0.94
0.96
1.11
2.0%
•
Online
0.50
0.52
0.54
0.68
3.4%
•
Others
0.23
0.23
0.24
0.26
1.5%
Foodservice
2.01
2.03
2.06
2.31
1.6%
Total
6.44
6.56
6.68
7.73
2.2%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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114
FORECAST TO 2028
9.5
REST OF THE WORLD
The rest of the world market consist of regions namely South America, Middle East, and Africa. This region has accounted for a 10.12%
share in the global bakery products market in 2020. The demand for bakery products is increasing at a rapid pace over the last few
years in South America. Bakery products are convenient and are available in a wide range which attracts the consumers to experiment.
Also, the increasing presence of manufacturers of bakery products is likely to uplift the sales of bakery products during the forecast
period. The GCC countries are the major consumers of bakery products in the Middle East market. Also, the demand for bakery
products is increasing in several African countries, which is anticipated to drive the growth of the bakery products market in this
region.
FIGURE 28
REST OF THE WORLD: BAKERY PRODUCTS MARKET SHARE, BY REGION, 2020 (% SHARE)
20.55%
South America
51.35%
Middle East
Africa
28.10%
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.5.1
R EST OF THE W OR LD BAKER Y PR ODUCTS MAR KET ESTIMATES & FOR ECAST, BY R EGION,
2019–2028
TABLE 120
REST OF THE WORLD: MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD BILLION)
Region
CAGR
2019
2020
2021
2028
South America
16.83
17.17
17.54
20.85
2.5%
Middle East
9.24
9.40
9.57
11.10
2.2%
Africa
6.79
6.87
6.96
7.78
1.7%
Total
32.86
33.45
34.07
39.73
2.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 121
REST OF THE WORLD: MARKET ESTIMATES, BY COUNTRY, 2019–2028 (MILLION TONS)
Region
CAGR
2019
2020
2021
2028
South America
5.30
5.38
5.47
6.23
1.9%
Middle East
2.83
2.87
2.90
3.23
1.6%
Africa
2.00
2.01
2.02
2.17
1.0%
Total
10.13
10.26
10.39
11.63
1.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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116
FORECAST TO 2028
9.5.2
R EST OF THE W OR LD BAKER Y PR ODUCTS MAR KET ESTIMATE S & FOR ECAST, BY PR ODUCT
TYPE, 2019–2028
TABLE 122
REST OF THE WORLD: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
9.79
10.05
10.32
12.74
3.1%
•
Standard Bread
3.15
3.26
3.36
4.33
3.7%
•
Brioche
0.82
0.84
0.85
1.00
2.3%
•
Burger Bun
2.25
2.31
2.38
2.98
3.3%
•
Hot Dog Bun
1.41
1.45
1.49
1.82
3.0%
•
Tortilla
0.98
1.00
1.03
1.23
2.6%
•
Flat Bread
0.64
0.65
0.66
0.76
1.9%
•
Others
0.53
0.54
0.55
0.61
1.6%
Cakes & Pastries
5.44
5.55
5.68
6.77
2.6%
•
Angel Food Cake
0.53
0.53
0.54
0.63
2.1%
•
Layer Cake
0.44
0.44
0.45
0.51
1.9%
•
Panettone
0.33
0.34
0.34
0.38
1.5%
•
Cup Cake
1.63
1.68
1.72
2.15
3.2%
•
Mug Cake
0.77
0.79
0.80
0.95
2.4%
•
Muffins
1.46
1.50
1.53
1.84
2.7%
•
Others
0.28
0.28
0.29
0.31
1.3%
Cookies & Biscuits
4.64
4.72
4.81
5.64
2.3%
Bagels
2.35
2.37
2.40
2.63
1.4%
Donuts
2.57
2.60
2.64
2.98
1.8%
Pizza & Pizza Crust
1.96
1.97
1.99
2.15
1.2%
Pies & Tarts
3.28
3.34
3.39
3.90
2.1%
Brownies
1.43
1.43
1.44
1.49
0.6%
Others
1.41
1.41
1.41
1.43
0.2%
Total
32.86
33.45
34.07
39.73
2.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 123
REST OF THE WORLD: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
3.27
3.33
3.39
3.96
2.2%
•
Standard Bread
1.12
1.15
1.17
1.42
2.8%
•
Brioche
0.25
0.26
0.26
0.29
1.4%
•
Burger Bun
0.77
0.78
0.80
0.94
2.4%
•
Hot Dog Bun
0.47
0.48
0.48
0.56
2.1%
•
Tortilla
0.31
0.32
0.32
0.37
1.8%
•
Flat Bread
0.19
0.19
0.19
0.21
1.0%
•
Others
0.15
0.16
0.16
0.16
0.7%
Cakes & Pastries
1.74
1.76
1.79
2.03
1.8%
•
Angel Food Cake
0.16
0.16
0.17
0.18
1.4%
•
Layer Cake
0.13
0.13
0.14
0.15
1.2%
•
Panettone
0.10
0.10
0.10
0.11
0.8%
•
Cup Cake
0.55
0.56
0.57
0.67
2.4%
•
Mug Cake
0.24
0.25
0.25
0.28
1.7%
•
Muffins
0.47
0.48
0.49
0.56
2.0%
•
Others
0.08
0.08
0.08
0.09
0.5%
Cookies & Biscuits
1.44
1.46
1.48
1.65
1.6%
Bagels
0.66
0.67
0.67
0.71
0.9%
Donuts
0.76
0.76
0.77
0.83
1.1%
Pizza & Pizza Crust
0.54
0.54
0.55
0.57
0.7%
Pies & Tarts
0.99
1.00
1.01
1.11
1.4%
Brownies
0.37
0.37
0.37
0.39
0.4%
Others
0.36
0.36
0.36
0.37
0.3%
Total
10.13
10.26
10.39
11.63
1.6%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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118
FORECAST TO 2028
9.5.3
R EST OF THE W OR LD BAKER Y PR ODUCTS MAR KET ESTIMATES & FOR ECAST, BY
CATEGOR Y, 2019–2028
TABLE 124
REST OF THE WORLD: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
21.47
21.89
22.35
26.39
2.4%
Frozen
11.39
11.55
11.73
13.34
1.9%
Total
32.86
33.45
34.07
39.73
2.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 125
REST OF THE WORLD: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
6.69
6.79
6.89
7.81
1.8%
Frozen
3.44
3.47
3.50
3.82
1.3%
Total
10.13
10.26
10.39
11.63
1.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.5.4
R EST OF THE W OR LD BAKER Y PR ODUCTS MAR KET ESTIMATES & FOR ECAST, BY
DISTR IBUTION CHANNEL , 2019–2028
TABLE 126
REST OF THE WORLD: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
22.74
23.20
23.69
28.04
2.5%
•
Supermarkets &
Hypermarkets
7.88
8.04
8.22
9.77
2.5%
•
Convenience Stores
6.34
6.46
6.58
7.69
2.3%
•
In-Store Bakery
4.75
4.83
4.92
5.71
2.1%
•
Online
2.59
2.68
2.76
3.52
3.5%
•
Others
1.18
1.19
1.21
1.35
1.6%
Foodservice
10.11
10.25
10.39
11.70
1.8%
Total
32.86
33.45
34.07
39.73
2.3%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 127
REST OF THE WORLD: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
7.07
7.18
7.29
8.27
1.9%
•
Supermarkets &
Hypermarkets
2.46
2.50
2.54
2.89
1.9%
•
Convenience Stores
1.95
1.98
2.00
2.24
1.6%
•
In-Store Bakery
1.45
1.47
1.49
1.65
1.5%
•
Online
0.86
0.88
0.91
1.10
2.9%
•
Others
0.35
0.35
0.35
0.38
1.0%
Foodservice
3.06
3.08
3.11
3.35
1.1%
Total
10.13
10.26
10.39
11.63
1.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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120
FORECAST TO 2028
9.5.5
SOUTH AMER ICA
TABLE 128
SOUTH AMERICA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
5.02
5.17
5.33
6.71
3.4%
•
Standard Bread
1.61
1.67
1.73
2.27
4.0%
•
Brioche
0.42
0.43
0.44
0.53
2.6%
•
Burger Bun
1.15
1.19
1.23
1.57
3.6%
•
Hot Dog Bun
0.72
0.75
0.77
0.96
3.3%
•
Tortilla
0.51
0.52
0.53
0.65
2.9%
•
Flat Bread
0.33
0.34
0.35
0.40
2.2%
•
Others
0.28
0.28
0.29
0.33
1.9%
Cakes & Pastries
2.79
2.85
2.93
3.56
2.9%
•
Angel Food Cake
0.27
0.28
0.28
0.33
2.4%
•
Layer Cake
0.22
0.23
0.23
0.27
2.2%
•
Panettone
0.17
0.17
0.18
0.20
1.8%
•
Cup Cake
0.83
0.86
0.88
1.13
3.5%
•
Mug Cake
0.40
0.40
0.41
0.50
2.7%
•
Muffins
0.75
0.77
0.79
0.97
3.0%
•
Others
0.14
0.15
0.15
0.17
1.6%
Cookies & Biscuits
2.37
2.43
2.48
2.96
2.6%
Bagels
1.20
1.22
1.23
1.38
1.6%
Donuts
1.31
1.33
1.36
1.56
2.1%
Pizza & Pizza Crust
1.00
1.01
1.02
1.13
1.4%
Pies & Tarts
1.68
1.71
1.75
2.05
2.3%
Brownies
0.73
0.73
0.74
0.77
0.7%
Others
0.72
0.72
0.72
0.73
0.2%
Total
16.83
17.17
17.54
20.85
2.5%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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121
FORECAST TO 2028
TABLE 129
SOUTH AMERICA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
1.71
1.75
1.79
2.13
2.5%
•
Standard Bread
0.58
0.60
0.62
0.76
3.1%
•
Brioche
0.13
0.14
0.14
0.16
1.7%
•
Burger Bun
0.40
0.41
0.42
0.51
2.7%
•
Hot Dog Bun
0.25
0.25
0.26
0.30
2.4%
•
Tortilla
0.17
0.17
0.17
0.20
2.1%
•
Flat Bread
0.10
0.10
0.10
0.11
1.2%
•
Others
0.08
0.08
0.08
0.09
0.9%
Cakes & Pastries
0.91
0.93
0.94
1.09
2.1%
•
Angel Food Cake
0.09
0.09
0.09
0.10
1.7%
•
Layer Cake
0.07
0.07
0.07
0.08
1.4%
•
Panettone
0.05
0.05
0.05
0.06
1.0%
•
Cup Cake
0.28
0.29
0.30
0.36
2.8%
•
Mug Cake
0.13
0.13
0.13
0.15
2.0%
•
Muffins
0.25
0.25
0.26
0.30
2.2%
•
Others
0.04
0.04
0.04
0.05
0.8%
Cookies & Biscuits
0.75
0.77
0.78
0.89
2.0%
Bagels
0.35
0.35
0.35
0.38
1.1%
Donuts
0.40
0.40
0.40
0.44
1.4%
Pizza & Pizza Crust
0.28
0.28
0.29
0.30
0.9%
Pies & Tarts
0.52
0.53
0.53
0.60
1.7%
Brownies
0.19
0.19
0.20
0.20
0.5%
Others
0.19
0.19
0.19
0.19
0.4%
Total
5.30
5.38
5.47
6.23
1.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 130
SOUTH AMERICA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
10.98
11.23
11.49
13.83
2.7%
Frozen
5.85
5.95
6.05
7.02
2.2%
Total
16.83
17.17
17.54
20.85
2.5%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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122
FORECAST TO 2028
TABLE 131
SOUTH AMERICA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
3.50
3.56
3.62
4.18
2.1%
Frozen
1.80
1.83
1.85
2.05
1.6%
Total
5.30
5.38
5.47
6.23
1.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 132
SOUTH AMERICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
11.63
11.89
12.18
14.69
2.8%
•
Supermarkets &
Hypermarkets
4.03
4.12
4.22
5.11
2.8%
•
Convenience Stores
3.25
3.31
3.39
4.03
2.5%
•
In-Store Bakery
2.43
2.48
2.53
3.00
2.4%
•
Online
1.31
1.36
1.41
1.83
3.8%
•
Others
0.60
0.61
0.62
0.71
1.9%
Foodservice
5.20
5.28
5.37
6.16
2.0%
Total
16.83
17.17
17.54
20.85
2.5%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 133
SOUTH AMERICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
3.70
3.76
3.83
4.43
2.1%
•
Supermarkets &
Hypermarkets
1.28
1.31
1.33
1.55
2.2%
•
Convenience Stores
1.02
1.04
1.05
1.20
1.9%
•
In-Store Bakery
0.76
0.77
0.78
0.89
1.8%
•
Online
0.45
0.46
0.47
0.59
3.1%
•
Others
0.18
0.18
0.19
0.20
1.2%
Foodservice
1.61
1.62
1.64
1.80
1.4%
Total
5.30
5.38
5.47
6.23
1.9%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
9.5.6
MIDDLE EAST
TABLE 134
MIDDLE EAST: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
2.81
2.88
2.95
3.62
3.0%
•
Standard Bread
0.91
0.94
0.97
1.24
3.6%
•
Brioche
0.23
0.24
0.24
0.28
2.2%
•
Burger Bun
0.65
0.66
0.68
0.85
3.2%
•
Hot Dog Bun
0.40
0.41
0.42
0.52
2.9%
•
Tortilla
0.28
0.29
0.29
0.35
2.5%
•
Flat Bread
0.18
0.18
0.19
0.21
1.8%
•
Others
0.15
0.15
0.15
0.17
1.5%
Cakes & Pastries
1.54
1.57
1.61
1.91
2.6%
•
Angel Food Cake
0.15
0.15
0.15
0.18
2.1%
•
Layer Cake
0.12
0.12
0.13
0.14
1.8%
•
Panettone
0.09
0.09
0.09
0.10
1.4%
•
Cup Cake
0.47
0.48
0.49
0.61
3.2%
•
Mug Cake
0.22
0.22
0.23
0.27
2.4%
•
Muffins
0.42
0.42
0.43
0.52
2.6%
•
Others
0.08
0.08
0.08
0.09
1.2%
Cookies & Biscuits
1.31
1.33
1.35
1.58
2.3%
Bagels
0.65
0.65
0.66
0.72
1.3%
Donuts
0.71
0.72
0.73
0.82
1.7%
Pizza & Pizza Crust
0.54
0.54
0.55
0.59
1.1%
Pies & Tarts
0.92
0.93
0.95
1.08
2.0%
Brownies
0.39
0.39
0.39
0.40
0.3%
Others
0.38
0.38
0.38
0.38
0.1%
Total
9.24
9.40
9.57
11.10
2.2%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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124
FORECAST TO 2028
TABLE 135
MIDDLE EAST: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
0.93
0.95
0.96
1.12
2.2%
•
Standard Bread
0.32
0.33
0.34
0.41
2.8%
•
Brioche
0.07
0.07
0.07
0.08
1.4%
•
Burger Bun
0.22
0.22
0.23
0.27
2.4%
•
Hot Dog Bun
0.13
0.14
0.14
0.16
2.1%
•
Tortilla
0.09
0.09
0.09
0.10
1.8%
•
Flat Bread
0.05
0.05
0.05
0.06
0.9%
•
Others
0.04
0.04
0.04
0.05
0.5%
Cakes & Pastries
0.49
0.50
0.50
0.57
1.8%
•
Angel Food Cake
0.05
0.05
0.05
0.05
1.3%
•
Layer Cake
0.04
0.04
0.04
0.04
1.1%
•
Panettone
0.03
0.03
0.03
0.03
0.6%
•
Cup Cake
0.15
0.16
0.16
0.19
2.4%
•
Mug Cake
0.07
0.07
0.07
0.08
1.6%
•
Muffins
0.13
0.13
0.14
0.16
1.9%
•
Others
0.02
0.02
0.02
0.02
0.4%
Cookies & Biscuits
0.40
0.41
0.41
0.46
1.5%
Bagels
0.18
0.18
0.18
0.19
0.7%
Donuts
0.21
0.21
0.21
0.23
1.0%
Pizza & Pizza Crust
0.15
0.15
0.15
0.15
0.5%
Pies & Tarts
0.28
0.28
0.28
0.31
1.2%
Brownies
0.10
0.10
0.10
0.10
0.4%
Others
0.10
0.10
0.10
0.10
0.2%
Total
2.83
2.87
2.90
3.23
1.5%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 136
MIDDLE EAST: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
6.05
6.17
6.29
7.39
2.4%
Frozen
3.19
3.23
3.28
3.71
1.8%
Total
9.24
9.40
9.57
11.10
2.2%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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125
FORECAST TO 2028
TABLE 137
MIDDLE EAST: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
1.88
1.90
1.93
2.17
1.8%
Frozen
0.96
0.96
0.97
1.06
1.2%
Total
2.83
2.87
2.90
3.23
1.6%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 138
MIDDLE EAST: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
6.41
6.54
6.67
7.85
2.4%
•
Supermarkets &
Hypermarkets
2.22
2.27
2.32
2.74
2.4%
•
Convenience Stores
1.78
1.82
1.85
2.15
2.2%
•
In-Store Bakery
1.34
1.36
1.38
1.59
2.1%
•
Online
0.74
0.76
0.79
1.00
3.5%
•
Others
0.33
0.33
0.34
0.37
1.5%
Foodservice
2.83
2.86
2.90
3.25
1.7%
Total
9.24
9.40
9.57
11.10
2.2%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 139
MIDDLE EAST: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
1.98
2.01
2.04
2.30
1.8%
•
Supermarkets &
Hypermarkets
0.69
0.70
0.71
0.81
1.8%
•
Convenience Stores
0.55
0.55
0.56
0.62
1.6%
•
In-Store Bakery
0.41
0.41
0.41
0.46
1.5%
•
Online
0.24
0.25
0.26
0.31
2.8%
•
Others
0.10
0.10
0.10
0.10
0.9%
Foodservice
0.85
0.86
0.86
0.93
1.1%
Total
2.83
2.87
2.90
3.23
1.6%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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126
FORECAST TO 2028
9.5.7
AF R ICA
TABLE 140
AFRICA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (USD BILLION)
Product Type
CAGR
2019
2020
2021
2028
Breads
1.96
2.00
2.04
2.40
2.4%
•
Standard Bread
0.63
0.65
0.67
0.82
3.0%
•
Brioche
0.16
0.17
0.17
0.19
1.6%
•
Burger Bun
0.45
0.46
0.47
0.56
2.6%
•
Hot Dog Bun
0.28
0.29
0.29
0.34
2.3%
•
Tortilla
0.20
0.20
0.20
0.23
2.0%
•
Flat Bread
0.13
0.13
0.13
0.14
1.2%
•
Others
0.11
0.11
0.11
0.12
1.0%
Cakes & Pastries
1.11
1.12
1.14
1.30
1.9%
•
Angel Food Cake
0.11
0.11
0.11
0.12
1.4%
•
Layer Cake
0.09
0.09
0.09
0.10
1.2%
•
Panettone
0.07
0.07
0.07
0.07
0.8%
•
Cup Cake
0.33
0.34
0.35
0.41
2.5%
•
Mug Cake
0.16
0.16
0.16
0.18
1.7%
•
Muffins
0.30
0.30
0.31
0.35
2.0%
•
Others
0.06
0.06
0.06
0.06
0.6%
Cookies & Biscuits
0.96
0.97
0.98
1.10
1.7%
Bagels
0.50
0.50
0.51
0.53
0.8%
Donuts
0.54
0.54
0.55
0.59
1.2%
Pizza & Pizza Crust
0.42
0.42
0.42
0.44
0.6%
Pies & Tarts
0.68
0.69
0.70
0.77
1.4%
Brownies
0.31
0.31
0.31
0.32
0.5%
Others
0.31
0.31
0.31
0.32
0.4%
Total
6.79
6.87
6.96
7.78
1.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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127
FORECAST TO 2028
TABLE 141
AFRICA: MARKET ESTIMATES, BY PRODUCT TYPE, 2019–2028 (MILLION TONS)
Product Type
CAGR
2019
2020
2021
2028
Breads
0.63
0.63
0.64
0.71
1.5%
•
Standard Bread
0.22
0.22
0.22
0.26
2.0%
•
Brioche
0.05
0.05
0.05
0.05
0.8%
•
Burger Bun
0.15
0.15
0.15
0.17
1.6%
•
Hot Dog Bun
0.09
0.09
0.09
0.10
1.3%
•
Tortilla
0.06
0.06
0.06
0.07
1.0%
•
Flat Bread
0.04
0.04
0.04
0.04
0.5%
•
Others
0.03
0.03
0.03
0.03
0.3%
Cakes & Pastries
0.34
0.34
0.34
0.37
1.1%
•
Angel Food Cake
0.03
0.03
0.03
0.03
0.8%
•
Layer Cake
0.03
0.03
0.03
0.03
0.6%
•
Panettone
0.02
0.02
0.02
0.02
0.4%
•
Cup Cake
0.11
0.11
0.11
0.12
1.5%
•
Mug Cake
0.05
0.05
0.05
0.05
1.0%
•
Muffins
0.09
0.09
0.09
0.10
1.3%
•
Others
0.02
0.02
0.02
0.02
0.2%
Cookies & Biscuits
0.28
0.28
0.29
0.30
0.9%
Bagels
0.14
0.14
0.14
0.14
0.5%
Donuts
0.15
0.15
0.15
0.16
0.7%
Pizza & Pizza Crust
0.11
0.11
0.11
0.12
0.4%
Pies & Tarts
0.20
0.20
0.20
0.21
0.8%
Brownies
0.08
0.08
0.08
0.08
0.3%
Others
0.08
0.08
0.08
0.08
0.1%
Total
2.00
2.01
2.02
2.17
1.0%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 142
AFRICA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (USD BILLION)
Category
CAGR
2019
2020
2021
2028
Fresh
4.4
4.5
4.6
5.2
1.8%
Frozen
2.4
2.4
2.4
2.6
1.3%
Total
6.8
6.9
7.0
7.8
1.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
TABLE 143
AFRICA: MARKET ESTIMATES, BY CATEGORY, 2019–2028 (MILLION TONS)
Category
CAGR
2019
2020
2021
2028
Fresh
1.32
1.33
1.34
1.45
1.2%
Frozen
0.68
0.68
0.68
0.71
0.7%
Total
2.00
2.01
2.02
2.17
1.0%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 144
AFRICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (USD BILLION)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
4.70
4.77
4.84
5.50
1.9%
•
Supermarkets &
Hypermarkets
1.63
1.65
1.68
1.91
1.9%
•
Convenience Stores
1.31
1.33
1.34
1.51
1.6%
•
In-Store Bakery
0.98
0.99
1.01
1.12
1.5%
•
Online
0.54
0.55
0.57
0.69
2.9%
•
Others
0.24
0.24
0.25
0.26
1.0%
Foodservice
2.09
2.10
2.12
2.29
1.1%
Total
6.79
6.87
6.96
7.78
1.7%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 145
AFRICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2019–2028 (MILLION TONS)
Distribution Channel
CAGR
2019
2020
2021
2028
Food Retail
1.39
1.41
1.42
1.54
1.2%
•
Supermarkets &
Hypermarkets
0.49
0.49
0.49
0.54
1.3%
•
Convenience Stores
0.38
0.39
0.39
0.42
1.0%
•
In-Store Bakery
0.29
0.29
0.29
0.31
0.9%
•
Online
0.17
0.17
0.18
0.21
2.2%
•
Others
0.07
0.07
0.07
0.07
0.3%
Foodservice
0.60
0.60
0.60
0.62
0.5%
Total
2.00
2.01
2.02
2.17
1.0%
(2021–2028)
Source: Industry Experts, Secondary Research, and MRFR Analysis
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FORECAST TO 2028
10.1 COMPETITIVEOVERVIEW
The global bakery products market is characterized by the presence of much global, regional, and local vendors. The market is highly
competitive with all the players competing to gain market share. Intense competition, rapid product development, and changing
consumer trends are key factors that confront market growth. The vendors compete based on cost, product quality, ad sales
distribution. It is crucial for the market players to provide low-priced products, in order to survive and succeed in an intensely
competitive market environment. The key market players in the market include General Mills, Grupo Bimbo, Lantmännen, Barilla
Holding, Britannia Industries Limited, and Mondelez International among others. In 2020, Bimbo saw a 16% increase in dollar sales
across its bread business and an 11.6% increase across its sweet baked foods business. The company benefited from more in-home
breakfast occasions and innovation across key brands, including new Thomas mini croissants and banana English muffins. These
companies also benefited from pack size innovation. Majority of these top market players are engaged in acquisition strategies to
expand their market presence and comsolidate their market position. In addition, e-commerce channel penetration is expected to
continue accelerating, along with spend bifurcation. Increased premiumization from large players such as General Mills and Bimbo
and hyper-targeted smaller players will accelerate alongside continued development of private label and value brands.
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FORECAST TO 2028
10.2 COMPETITIVE BENCHMARKING
FIGURE 29
BENCHMARKING OF MAJOR COMPETITORS
Competitors
General Mills
Grupo Bimbo
Lantmännen
Britannia Industries
Mondelez International,
Inc.
Pladis Glbal
Finsbury Food Group PLC
Associated British Foods
PLC
Dunkin' Brands
Product
Portfolio
Regional
Presence
Strategic
Alliances
Industry
Experience
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
●●●●
LOW
MEDIUM
HIGH
VERY HIGH
●●●●
●●●●
●●●●
●●●●
Source: Annual Report, Press releases, Associations, Government Records, Journals, Expert Interviews, Secondary Research and Market Research Future Analysis
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FORECAST TO 2028
10.3 KEY DEVELOPMENTS & GROWTH STRATEGIES
10.3.1 NEW PR ODUCT LAUNCH
TABLE 146
Month & Year
NEW PRODUCT LAUNCH
Category
Developments
Pillsbury has launched a new line of Soft Baked Cookies that are ready to eat.
Mac-2021
New Product
Pillsbury Soft Baked Cookies was made available in Walmart stores and at other retailers
Launch
nationwide starting fom April. Each package of Soft Baked Cookies includes 18 snackablesized cookies at a SRP of $3.69.
Feb-2020
New Product
Gropo Bimbo launched Natural bread in Mexico; with only 7 ingredients. It is a concept
Launch
developed in Spain, that is part of the portfolio of other Grupo Bimbo operations.
Source: Annual Report, Press releases, Associations, Government Records, Journals, Expert Interviews, Secondary Research and Market Research Future Analysis
10.3.2 MER GER & ACQUISITION
TABLE 147
MERGER & ACQUISITION
Month & Year
Feb-2019
Developments
Grupo Bimbo acquired Alimentos Nutra Bien, a Chile-based cakes, cookies and brownies manufacturer to
complements its current portfolio through “top-of-mind brands” and expands its distribution reach.
Grupo Bimbo has gained a greater foothold in the Chinese market after completing the acquisition of Mankattan,
June 2018
a Chinese company which produces sliced bread, cakes, buns and Japanese-style sandwich bread. It includes
four production sites owned by Mankattan that serve consumers in the cities of Beijing, Shanghai, Sichuan, and
Guangdong.
May-2018
Group Bimbo, through its subsidiary Bimbo de Colombia, S.A., the Company acquired El. Paisa, S.A.S. for USD
2.6 million, equal to $52 in order to grow in South America
Lantmännen Unibake has acquired the production assets of French Bakery Company AS, at a factory located in
Drammen, Norway.
The purchase includes the acquisition of French Bakery Company’s production equipment, and all employees at
June-2020
the site will move over to Lantmännen.
According to Lantmännen, the takeover strengthens Lantmännen Unibake’s position in Norway, as it will provide
opportunities for expansion in foodservice and retail and allow the production of new products.
June-2020
European bakery group Lantmännen Unibake has expanded its presence in Norway by acquiring production
assets from French Bakery Company, a Norwegian bakery located close to Drammen.
Lantmännen Unibake acquired Bakery Du Jour that produces and distributes over 100 million premium pastries
Jan-2019
each year to major Australian retailers and leading food service customers The acquisition is a key step to
expand Lantmännen Unibake’s global footprint.
Mondelēz International today announced an agreement to acquire a significant majority interest in Give & Go, a
North American leader in fully-finished sweet baked goods and owners of the famous “two-bite”® brand and the
Feb-2020
“Create-A-Treat”® brand known for cookie and gingerbread house decorating kits. With a leading position in
brownies, cupcakes, pastries and muffins, as well as access to the fast-growing in-store bakery channel, the
acquisition of Give & Go expands Mondelēz International’s leadership in broader snacking. With Give & Go,
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FORECAST TO 2028
Mondelez already expanded from our core cookies into cupcakes, donuts and more. Other Mondelez brands also
will be leveraged with opportunities in the company’s new categories.
Biscuit International, which is owned by Platinum Equity, has acquired Continental Bakeries from its majority
Oct-2021
shareholders, Goldman Sachs Asset Management as the maker of private label biscuits looks to expand in the
European market
Sept-2021
Michigan Bread, the largest independent family-owned commercial artisan bakery in Michigan, has acquired
Minneapolis-based Franklin Street Bakery.
Rubicon Bakers (“Rubicon”), a portfolio company of Trive Capital (“Trive”), has acquired Just Desserts (“Just
Aug-2021
Desserts” or the “Company”). Founded in 1974 and headquartered in Fairfield, California, Just Desserts is a
manufacturer of high-quality and on-trend baked goods.
Crown Bakeries, a manufacturer of fresh and frozen breads, baked goods, and dough products, has announced
the acquisition of Bagel Boy, Inc. Founded in 1992, Bagel Boy is the largest manufacturer of premium, New York-
June-2021
style bagels in New England. With a reputation for high-quality and innovative products in bagels, flatbreads,
pitas and sandwich thins, the Company is a key baking partner for leading grocery retailers and consumer
brands. Terms of the transaction were not disclosed.
Baked goods manufacturer Harlan Bakeries has agreed to acquire Indiana-based food company AmeriQual, for
Aug-2021
an undisclosed sum. AmeriQual produces, packages and distributes shelf-stable, refrigerated or frozen foods,
sauces and condiments for a number of US institutions, including federal, state and local government agencies.
Source: Annual Report, Press releases, Associations, Government Records, Journals, Expert Interviews, Secondary Research and Market Research Future Analysis
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FORECAST TO 2028
11.1 GENERAL MILLS, INC.
11.1.1 COMPANY OVER VIEW
Company Headquarter: Golden Valley, Minnesota, U.S.
Founded: 1928
Workforce: 35,000
Company Working: General Mills is a leading global manufacturer and marketer of branded consumer foods sold through retail stores.
The company is also a leading supplier of branded and unbranded products to the North American foodservice and commercial baking
industries. The company manufactures products in 13 countries and markets them in more than 100 countries. In addition to their
consolidated operations, the company also has 50 percent interests in two strategic joint ventures that manufacture and market food
products sold in more than 120 countries worldwide. The acquisition of Pillsbury in 2000, helped the company to become a major
player in the bakery products business.
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FORECAST TO 2028
11.1.2 F INANCIAL OVER VIEW
FIGURE 30
GENERAL MILLS, INC.: FINANCIAL OVERVIEW SNAPSHOT
COMPANY FINANCIAL
OVERVIEW
3%
7%
18,000
5%
18,127.00
17,626.60
17,000
10%
(%)
(USD Million)
19,000
16,865.20
16,000
1%
15,000
15,740
14,000
0%
2018
2019
2020
Sales
Op Profit Margin (%)
North America Retail
9.0%
Europe & Australia
10.0%
25.5%
United States
Convenience Stores &
Foodservice
10.0%
60.0%
Non-United States
Pet
11.0%
74.5%
Asia & Latin America
Source: Annual Report, Press Releases, MRFR Analysis
11.1.3 PR ODUCTS OF F ER INGS
TABLE 148
GENERAL MILLS, INC.: PRODUCTS OFFERINGS
Brands
Category
Products
• Three Cheese Mini Pizza Bagels
Bagels
• Uncured Pepperoni Mini Pizza Bagels
• Organic Chocolate Chip Bunny Grahams
• Organic Honey Bunny Grahams
Annie's Homegrown
Grahams & Cookies
• Organic Birthday Cake Bunny Grahams
• Organic Cinnamon Bunny Grahams
• Organic Chocolate Bunny Grahams
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FORECAST TO 2028
• Gluten Free Cocoa & Vanilla Bunny Grahams
• Gluten Free Snickerdoodle Bunny Grahams
• Organic Chocolate Grabbits Sandwich Cookies
• Organic Chocolate Mint Grabbits Sandwich Cookies
• Organic Chocolate Chip Cookie Bites
• Organic Lemon Drop Cookie Bites
• Organic Animal Cookies
• Annie’s S’mores Bunny Grahams
• Neapolitan Bunny Grahams
• Organic Cinnamon Graham Crackers
• Organic Honey Graham Crackers
• Chocolate Raspberry Brownie
Lärabar
Brownie
• Chocolate Sea Salt Fudge Brownie
• Peanut Butter Cocoa Brownie
• Chocolate Peanut Butter Biscuit Sandwiches
• Chocolate Peanut Butter Mini Biscuit Sandwiches
• Cinnamon Almond Butter Biscuit Sandwiches
Biscuit Sandwiches
• Cocoa Almond Butter Biscuit Sandwiches
• Coconut Butter Biscuit Sandwiches
• Peanut Butter Biscuit Sandwiches
Nature Valley
• Peanut Butter Mini Biscuit Sandwiches
Biscuit
• Blueberry Biscuits
• Banana Bread Dark Chocolate Soft-baked Oatmeal Squares
Soft-Baked Oatmeal
Squares
• Cinnamon Brown Sugar Soft-baked Oatmeal Squares
• Peanut Butter Soft-baked Oatmeal Squares
• Mini Snack Bites
• Pizza Rolls
Totino's
Pizza
• Party Pizza
• Party Pizza Multi-Packs
• Pizza Stuffers
• Sweet Biscuits With Icing
Pillsbury™
Biscuits
• Pillsbury™ Chocolate Chip flavored refrigerated Sweet Biscuits with
Icing
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FORECAST TO 2028
• Pillsbury™ Blueberry flavored refrigerated Sweet Biscuits with Icing
• Grands!™ Refrigerated Biscuits
• Grands!™ Flaky Layers Original Biscuits
• Grands!™ Flaky Layers Buttermilk Biscuits
• Grands!™ Flaky Layers Butter Tastin'™ Biscuits
• Grands!™ Flaky Layers Honey Butter Biscuits
• Grands!™ Southern Homestyle Original Biscuits
• Grands!™ Southern Homestyle Buttermilk Biscuits
• Grands!™ Southern Homestyle Butter Tastin'™ Biscuits
• Grands!™ Southern Homestyle Honey Butter Biscuits
• Grands!™ Southern Homestyle Southern Recipe Biscuits
• Grands!™ Flaky Layers Sweet Hawaiian Biscuits
• Grands!™ Flaky Layers Original Biscuits 5 ct
• Grands!™ Southern Homestyle Buttermilk Biscuits 5 ct
• Grands!™ Southern Homestyle Butter Tastin’™ Biscuits 5 ct
• Refrigerated Biscuits
• Pillsbury™ Flaky Layers Buttermilk Biscuits 10 ct
• Pillsbury™ Flaky Layers Buttermilk Biscuits 5 ct
• Pillsbury™ Flaky Layers Butter Tastin’ Biscuits 10 ct
• Pillsbury™ Flaky Layers Butter Tastin’ Biscuits 5 ct
• Pillsbury™ Flaky Layers Honey Butter Biscuits 5 ct
• Pillsbury™ Southern Homestyle Buttermilk Biscuits 5 ct
• Grands!™ Frozen Biscuits
• Grands!™ Honey Butter Frozen Biscuits
• Grands!™ Buttermilk Frozen Biscuits
• Grands!™ Butter Tastin’™ Frozen Biscuits
• Grands!™ Southern Style Frozen Biscuits
• Grands!™ Flaky Layers Frozen Biscuits
• Pillsbury™ Original Crescent Rounds
• Pillsbury™ Big & Buttery Crescent Rolls
Crescent Rolls
• Pillsbury™ Grands! Original Crescent Rolls
• Pillsbury™ Reduced Fat Crescent Rolls
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FORECAST TO 2028
• Pillsbury™ Butter Flake Crescent Rolls
• Pillsbury™ Honey Butter Crescent Rolls
• Pillsbury™ Sweet Hawaiian Crescent Rolls
• Pillsbury™ Original Crescent Rolls
• Pillsbury™ Filled Crescents Apple
• Pillsbury™ Filled Crescents Cherry
• Pillsbury™ Grands!™ Cinnamon Rolls with Cinnabon Cream Cheese
Icing
• Pillsbury™ Grands!™ Cinnamon Rolls with Original Icing (5 count)
• Pillsbury™ Grands!™ Cinnamon Rolls with Extra Rich Butter Cream
Icing
• Pillsbury™ Grands!™ Flaky Cinnamon Rolls with Original Icing
• Pillsbury™ Cinnamon Rolls with Original Icing
• Pillsbury™ Cinnamon Rolls with Cream Cheese Icing
• Pillsbury™ Reduced Fat Cinnamon Rolls with Icing
• Pillsbury™ Flaky Cinnamon Rolls with Butter Cream Icing
Cinnamon Rolls
• Pillsbury™ Orange Rolls with Orange Icing
• Pillsbury™ Cinnamon Toast Crunch Cinnamon Rolls 8 Count
• Pillsbury™ Mini Cinni Stix, 24ct
• Pillsbury™ Cinnamon Rolls with Icing
• Pillsbury™ Grands!™ Cinnamon Rolls with Strawberry & Cream
Flavored Icing
• Limited Edition Pillsbury Grands! Hot Cocoa Rolls with Marshmallow
Icing
• Limited Edition Pillsbury™ Grands!™ Pumpkin Spice Rolls with
Pumpkin Spice Icing
• Limited Edition Pillsbury™ Grands!™ Cinnamon Rolls with Peaches &
Cream Flavored Icing
• Snack Cakes
• Pillsbury™ Chocolate Fudge Brownie
• Pillsbury™ Birthday Cake Bar
•
Already Baked Snacks
• Soft Baked Cookies
• Pillsbury™ Soft Baked Confetti Cookies 18 Count
• Pillsbury™ Soft Baked Chocolate Chip Cookies 18 Count
• Pillsbury™ Soft Baked Butterscotch & Chocolate Cookies 18 Count
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FORECAST TO 2028
• Pillsbury™ Soft Baked Drizzle Sugar Cookies 18 Count
• Pillsbury™ Soft Baked Peanut Butter with Chocolate Drizzle Cookies 18
Count
• Pillsbury™ Golden Grahams Toaster Strudel™ Pastries
• Pillsbury™ Strawberry Toaster Strudel™
• Pillsbury™ Cream Cheese & Strawberry Toaster Strudel™
• Pillsbury™ Apple Toaster Strudel™
• Pillsbury™ Blueberry Toaster Strudel™
• Pillsbury™ Cinnamon Roll Toaster Strudel™
Toaster Strudel™
• Pillsbury™ Cherry Toaster Strudel™
• Pillsbury™ Raspberry Toaster Strudel™
• Pillsbury™ Wildberry Toaster Strudel™
• Pillsbury™ Cinnamon Toast Crunch Toaster Strudel™
• Pillsbury™ Boston Cream Pie Toaster Strudel™
• Pillsbury™ Chocolate Toaster Strudel™
• Pillsbury™ Classic Pizza Crust
Pizza Crust
• Pillsbury™ Thin Pizza Crust
• Pillsbury™ Mini Pizza Crusts
• Pillsbury™ refrigerated Pie Crust
• Pillsbury™ Pet-Ritz™ frozen Regular Pie Crusts
Pie Crust
• Pillsbury™ Pet-Ritz™ frozen Deep Dish Pie Crusts
• Pillsbury™ Pet-Ritz™ frozen All Vegetable Deep Dish Pie Crusts
• Pillsbury™ Breadsticks
Breads
• Pillsbury™ French Bread
Source: Annual Report, Press Releases, MRFR Analysis
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FORECAST TO 2028
11.1.4 KEY DEVELOPMENTS
TABLE 149
Month & Year
GENERAL MILLS, INC.: KEY DEVELOPMENTS
Approach
Developments
Pillsbury has launched a new line of Soft Baked Cookies that are ready to eat.
Mac-2021
New Product Launch
Pillsbury Soft Baked Cookies was made available in Walmart stores and at other
retailers nationwide starting fom April. Each package of Soft Baked Cookies includes 18
snackable-sized cookies at a SRP of $3.69.
301 INC, the investment arm of General Mills, Inc., is leading a multistage investment
of up to $20 million in Pots & Co, in partnership with other investors. Pots & Co offers a
range of desserts sold in reusable ceramic pots in supermarkets across the United
Kingdom.
Available in varieties such as chocolate fudge lava cake, upside-down lemon
April-2021
Investment
cheesecake, apple and cinnamon crumble and sticky toffee lava cake, the ceramic pots
give the desserts a creamy texture and artisan touch, according to the company.
Pots & Co will leverage the investment to expand its product range and grow its footprint
in the United States. The investment is supported by increased retail distribution
focused on the West Coast and Rocky Mountain region. The company initially will supply
its range of potted desserts and has longer-term plans to offer its new savory, Mezze
style dips range.
Source: Annual Report, Press Releases, MRFR Analysis
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FORECAST TO 2028
11.1.5 SWOT ANALYSIS
T
▪ The company has operations in over 120 countries
WEAKNESSES
W
O
▪ The company’s retail portfolio of bakery products such as Pillsbury ,
Annie's Homegrown , Lärabar , and Nature Valley are among the best
brands in the industry
▪ The company is highly dependent on the U.S. market
OPPORTUNITIES
S
STRENGTHS
GENERAL MILLS, INC.: SWOT ANALYSIS
▪ Pemiumization and growth of the organic bakery segment is likely to
provide major growth opportunities
THREATS
GENERAL MILLS, INC.
FIGURE 31
▪ Price changes for the commodities such as raw materials, packaging,
and energy may adversely affect the profitability of the company
Source: Annual Report, Press Releases, MRFR Analysis
11.1.6 KEY STR ATEGIES
General Mills is executing the Accelerate strategy to drive sustainable, profitable growth and top-tier shareholder returns over the long
term. The strategy focuses on four pillars to create competitive advantages and win: boldly building brands, relentlessly innovating,
unleashing our scale, and being a force for good. The company is prioritizing their key markets, global platforms, and local gem brands
that have the best prospects for profitable growth and are committed to reshaping the portfolio with strategic acquisitions and
divestitures to further enhance the company’s growth profile.
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FORECAST TO 2028
11.2 GRUPO BIMBO, S.A.B. DE C.V.
11.2.1 COMPANY OVER VIEW
Company Headquarter: Mexico City, Mexico
Founded: 1945
Workforce: 133,692
Company Working: Grupo Bimbo, S.A.B. de C.V. is a . is a leader in the baking industry globally. It is a Mexican multinational company
with a presence in over 33 countries located in the Americas, Europe, Asia, and Africa. In 1984, the company began its aggressive
expansion strategy by exporting to the US, leading up to a foothold in 10 new countries by 2017 through acquisitions such as Ready
Roti in India, Grupo Adghal in Morocco and East Balt Bakeries in the US, among others. The company continues to move into new
markets, notably China, to build market share in emerging economies.
11.2.2 F INANCIAL OVER VIEW
FIGURE 32
GRUPO BIMBO, S.A.B. DE C.V.: FINANCIAL OVERVIEW SNAPSHOT
COMPANY FINANCIAL
OVERVIEW
13%
6%
(USD Billion)
8%
20%
1%
15
10
10%
(%)
20
5
0
13
13.96
14.09
15.98
2017
2018
2019
2020
Sales
0%
Op Profit Margin (%)
8.8%
8.6%
30.8%
Mexico
North America
Latin America
EAA
51.9%
Source: Annual Report, Press Releases, MRFR Analysis
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FORECAST TO 2028
11.2.3 PR ODUCTS OF F ER INGS
TABLE 150
GRUPO BIMBO, S.A.B. DE C.V.: PRODUCTS OFFERINGS
Brands
Category
Products
• Multi Grain
• Cinnamon Protein
• Pumpkin Spice
English Muffin
• Everything
• Light MultiGrain
• Cinnamon Raisin
• Whole wheat
• Blueberry
• Original Made With Whole Grains
• Sourdough
• King Size
• Honey Wheat
• SEASONAL
• Pumpkin Spice
• Plain Bagel Thins
• Plain
• Everything Bagel Thins
• Apple Cinnamon
Bagels
• Everything
• Plain Mini Bagels
• Chocolatey Chip Mini Bagels
• Cinnamon Raisin
• Cinnamon Raisin Mini Bagels
• Blueberry
• Cinnamon Swirl
• 100% Whole Wheat
• Onion
• Plain With Whole Grain
• Sesame
Thomas'
• Cinnamon Raisin
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FORECAST TO 2028
• Cinnamon
Swirl Breads
• Pumpkin Spice
• Banana
Cakes
• Corn Toast-R-Cakes
• Chocolatey Mini Croissants
Croissants
SaraLee
• Plain Mini Croissants
Bakery Bread
• ARTESANO TM & DELIGHTFUL TM
Bakery Sausage Rolls
• ARTESANO TM
Bakery Rolls
• ARTESANO TM
Bakery Buns
• ARTESANO TM
Bakery Bread
• ARTESANO TM & DELIGHTFUL TM
Bakery Sausage Rolls
• ARTESANO TM
• Blueberry
• Original Made With Whole Grains
Bagels
• 100% Whole Wheat
• Cinnamon Raisin
• Others
• OATNUT
ARNOLD
Bread
• ORGANIC & NON-GMO
• RYE
• SANDWICH THINS® ROLLS
Other products
• BUNS & ROLLS
• OATNUT
BROWNBERRY
Bread
• ORGANIC & NON-GMO
• SANDWICH THINS® ROLLS
Other products
• BUNS & ROLLS
• OATNUT
OROWHEAT
Bread
• ORGANIC & NON-GMO
• RYE
• SANDWICH THINS® ROLLS
Other products
• BUNS & ROLLS
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FORECAST TO 2028
• MINIS SPRINKLED ICED BROWNIE
• MINIS CHEESE DANISH
• MINIS RASPBERRY AND CHEESE DANISH
• MINIS BLUEBERRY SNACK PIE
• MINIS FUDGE ICED GOLDEN CAKES
• MINIS CREME FILLED FUDGE CAKE
Minis®
• MINIS BROWNIE CHOCOLATE CHIP
• MINIS APPLE SNACK PIES
• MINIS CHERRY SNACK PIES
• MINIS CRUMB CAKE
• MINIS POUND CAKE
• MINIS RASPBERRY SNACK PIE
• Little Bites® Banana Muffins
Entenmann's
• Little Bites® Blueberry Muffins
• Little Bites® Butter Cookie Flavored Muffins
• Little Bites® Chocolate Chip Muffins
• Little Bites® Crumb Cakes
• Little Bites® Fudge Brownies
Little Bites®
• Little Bites® Party Cake Muffins
• Little Bites® Soft Baked Apple Mini Tarts
• Little Bites® Soft Baked Chocolate Chip Cookies
• Little Bites® Soft Baked Cinnamon Mini Tarts
• Little Bites® Soft Baked Party Cake Cookies
• Little Bites® Soft Baked Strawberry Mini Tarts
• Little Bites® Strawberry Yogurt Muffins
• Hamburger Buns
• Everything Hamburger Buns
Hamburger Buns
• Golden Hamburger Buns
• Tailgaters Gourmet White XL Buns
BallPark
• Hot Dog Buns
• Golden Hot Dog Buns
HOT DOG BUNS
• New England Hot Dog Rolls
• Tailgaters Brat XL Buns
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• Brioche
• Multi-Grain
BAYS
English Muffins
• Sourdough
• Original
• Cinnamon Raisin
• Sandwich Line
• Soft Line
Bread
• Toasted Bread
• Bread Crumbs
• Buns
• Traditional Sweet Baked Goods
Bimbo
• Sweet Rolls
• Muffins
SWEET BAKED GOODS
• Pound Cake
• Donuts
• Seasonal Breads
• Boboli
• MRS BAIRD'S
• Marinela
Other Brands
• Nature's Harvest
• Sanissimo
Source: Annual Report, Press Releases, MRFR Analysis
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146
FORECAST TO 2028
11.2.4 KEY DEVELOPMENTS
TABLE 151
Month & Year
Feb-2020
GRUPO BIMBO, S.A.B. DE C.V.: KEY DEVELOPMENTS
Approach
New Product Launch
Developments
Gropo Bimbo launched Natural bread in Mexico; with only 7 ingredients. It is a concept
developed in Spain, that is part of the portfolio of other Grupo Bimbo operations.
Grupo Bimbo expanded its operations and arrived in Kazakhstan, through Bimbo QSR
Feb-2020
Expansion
(Quick Service Restaurants), a strategic association agreement was signed with Food
Town, the exclusive supplier of buns and McDonald's franchisee in that country. With
this agreement, the company expanded its presence to 33 countries
Grupo Bimbo acquired Alimentos Nutra Bien, a Chile-based cakes, cookies and brownies
Feb-2019
Acquisition
manufacturer to complements its current portfolio through “top-of-mind brands” and
expands its distribution reach.
Grupo Bimbo has gained a greater foothold in the Chinese market after completing the
acquisition of Mankattan, a Chinese company which produces sliced bread, cakes, buns
June 2018
Acquisition
and Japanese-style sandwich bread. It includes four production sites owned by
Mankattan that serve consumers in the cities of Beijing, Shanghai, Sichuan, and
Guangdong.
May-2018
Acquisition
Group Bimbo, through its subsidiary Bimbo de Colombia, S.A., the Company acquired
El. Paisa, S.A.S. for USD 2.6 million, equal to $52 in order to grow in South America
Source: Annual Report, Press Releases, MRFR Analysis
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147
FORECAST TO 2028
11.2.5 SWOT ANALYSIS
T
WEAKNESSES
W
O
OPPORTUNITIES
S
STRENGTHS
GRUPO BIMBO, S.A.B. DE C.V.: SWOT ANALYSIS
THREATS
GRUPO BIMBO. S.A.B.
FIGURE 33
▪ The company has a wide product portfolio of bakery products
▪ The company has 3 million points of sale in the 33 countries
▪ Low presence in Middle East Markets
▪ Development of healthy product lines for the health conscious
consumers provides a major growth opportunities
▪ Emergence of disruptive formats at entry level price points.
Source: Annual Report, Press Releases, MRFR Analysis
11.2.6 KEY STR ATEGIES
The company has been focusing on organic growth, and has been quite aggressive with acquisitions in the past 10-15 years. The
company is also concentrating on continued innovation in Health and Wellness products. The company consider the needs of the
consumers as top priority and are offer them a portfolio of healthy options of daily and occasional consumption products. In 2020,
the company was also able to accomplish a six fold increase in initiatives, keeping with our objective of increasing activities in Health
and Wellness.
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FORECAST TO 2028
11.3 LANTMÄNNEN UNIBAKE
11.3.1 COMPANY OVER VIEW
Company Headquarter: Sweden
Founded: 1905
Workforce: 6000
Company Working: Lantmännen Unibake is a leading international bakery company within the Lantmännen Group. It is a subsidiary of
Lantmännen, an agricultural cooperative and Northern Europe’s leader in agriculture, machinery, bioenergy and food products. With
expertise in fresh and frozen bakery products for food service and retail the aim is to make bread and pastry a profitable business for
customers through high-quality products and innovative solutions and based on a sustainable mind-set and excellent food safety
standards. Headquartered in Copenhagen, Denmark, Lantmännen Unibake operates 35 bakeries around the world and has sales in
more than 60 countries. The brand portfolio comprises a range of well-established brands: Hatting, Schulstad, Schulstad Bakery
Solutions, Schulstad Royal Danish Pastry, Vaasan, Bonjour and others. Lantmännen Unibake has a turnover of EUR 1.1 billion (SEK 11
billion) and employs 6,000 people in more than 20 countries.
11.3.2 F INANCIAL OVER VIEW
FIGURE 34
LANTMÄNNEN GROUP: FINANCIAL OVERVIEW SNAPSHOT
COMPANY FINANCIAL
OVERVIEW
10%
6,000.00
5,000.00
4,000.00
20%
10%
3,000.00
(%)
(USD Million)
-5%
11%
2,000.00
1,000.00
-
0%
4,365.46
4,835.82
5,337.53
5,058.90
2017
2018
2019
2020
Sales
0.5%
0.1%
16.8%
-10%
Op Profit Margin (%)
Agriculture Sector
Energy Sector
41.8%
Food Sector
Swecon Business Area
32.5%
8.2%
45.0%
55.0%
Sweden
Rest of the World
Real Estate Business
Area
Other operations
Source: Annual Report, Press Releases, MRFR Analysis
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149
FORECAST TO 2028
11.3.3 PR ODUCTS OF F ER INGS
TABLE 152
LANTMÄNNEN UNIBAKE: PRODUCTS OFFERINGS
Product
Description
• Baguette
• Bun
• Burger Bun
• Ciabatta
• Croissant Filled
• Croissant Plain
• Danish Pastry Crowns
• Danish Pastry Plaits
• Danish Pastry Swirls
• Floured Baps
Bakery Products
• Gourmet
• Hot Dog Roll
• Loaf
• Mini Assortment
• Panini
• Pretzel
• Roll
• Savoury Filled
• Savoury Speciality
• Savoury Topped
• Speciality Bread
• Stone baked bread
Source: Annual Report, Press Releases, MRFR Analysis
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150
FORECAST TO 2028
11.3.4 KEY DEVELOPMENTS
TABLE 153
Month & Year
LANTMÄNNEN UNIBAKE: KEY DEVELOPMENTS
Approach
Developments
Lantmännen Unibake has acquired the production assets of French Bakery
Company AS, at a factory located in Drammen, Norway.
The purchase includes the acquisition of French Bakery Company’s production
June-2020
equipment, and all employees at the site will move over to Lantmännen.
Acquisition & Expansion
According to Lantmännen, the takeover strengthens Lantmännen Unibake’s
position in Norway, as it will provide opportunities for expansion in foodservice and
retail and allow the production of new products.
European bakery group Lantmännen Unibake has expanded its presence in Norway
June-2020
by acquiring production assets from French Bakery Company, a Norwegian bakery
Acquisition & Expansion
located close to Drammen.
Lantmännen Unibake acquired Bakery Du Jour that produces and distributes over
Jan-2019
100 million premium pastries each year to major Australian retailers and leading
Acquisition & Expansion
food service customers The acquisition is a key step to expand Lantmännen
Unibake’s global footprint.
Source: Annual Report, Press Releases, MRFR Analysis
11.3.5 SWOT ANALYSIS
T
WEAKNESSES
W
O
OPPORTUNITIES
S
STRENGTHS
LANTMÄNNEN UNIBAKE: SWOT ANALYSIS
THREATS
LANTMANNEN UNIBAKE.
FIGURE 35
▪ Lantmännen Unibake UK has strong expertise in frozen bakery products
for retail and foodservice,
▪ The company is one of Europe's largest bakery groups, with 36 bakeries
in more than 20 countries
▪ Highly dependent on the European markets
▪ Strategic mergers& acquisition are expected to increase the company’s
global footprints
▪ Foreign currency transactions
Source: Annual Report, Press Releases, MRFR Analysis
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151
FORECAST TO 2028
11.3.6 KEY STR ATEGIES
•
Originally, Lantmännen Unibake grew through the acquisition of bakeries that were strong within their local markets. The
company added structure and created the foundation for the strength and scope of Lantmännen Unibake today.
•
The company is focusing on customer proximity, agility and accountability on a local level and adds the strength of a global
organization.
•
The company is equally focusing on growth through acquisitions and organic growth, consolidation and the creation of a
highly integrated group structure.
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FORECAST TO 2028
11.4 BRITANNIA INDUSTRIES LIMITED
11.4.1 COMPANY OVER VIEW
Company Headquarter: Munich, Germany
Founded: 1847
Workforce: 50,400
Company Working: Britannia Industries is one of India’s leading food companies with a 100 year legacy Britannia is among the most
trusted food brands, and manufactures India’s favorite brands like Good Day, Tiger, NutriChoice, Milk Bikis and Marie Gold which are
household names in India. Britannia’s product portfolio includes Biscuits, Bread, Cakes, Rusk, and Dairy products including Cheese,
Beverages, Milk and Yoghurt. Britannia is a brand which many generations of Indians have grown up with and our brands are cherished
and loved in India and the world over. Britannia products are available across the country in close to 5 million retail outlets and reach
over 50% of Indian homes. Britannia Bread is the largest brand in the organized bread market with an annual turnover of over 1 lac
tons in volume and Rs.450 crores in value. The business operates with 13 factories and 4 franchisees selling close to 1 mn loaves
daily across more than 100 cities and towns of India. The company has foot prints across North America, Europe, Africa and South
East Asia through exports and are investing in a state- of- the- art facility in Mundra SEZ, Gujarat, to service the exports markets.
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153
FORECAST TO 2028
11.4.2 F INANCIAL OVER VIEW
FIGURE 36
BRITANNIA INDUSTRIES LIMITED: FINANCIAL OVERVIEW SNAPSHOT
COMPANY FINANCIAL
OVERVIEW
13%
1,500.00
20%
5%
8%
12%
1,000.00
10%
(%)
(USD Million)
2,000.00
500.00
-
1,219.40
1,362.66
1,428.31
1,609.27
2017
2018
2019
2020
Sales
0%
Op Profit Margin (%)
5.7%
India
Outside India
94.3%
Source: Annual Report, Press Releases, MRFR Analysis
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FORECAST TO 2028
11.4.3 PR ODUCTS OF F ER INGS
TABLE 154
BRITANNIA INDUSTRIES LIMITED: PRODUCTS OFFERINGS
Product Categories
Brands
• Good Day
• Crackers
• Nutrichoice
• Marie Gold
• Tiger
• Milk Bikis
Biscuits
• Jim Jam + Treat
• Bourbon
• Little Hearts
• Pure Magic
• Nice Time
• Whole Wheat Breads
• White Sandwich Breads
Breads
• Bread Assortment
• Daily Breads
• Gobbles
• Tiffin Fun
• Nut & Raisin
• Muffills
Cakes
• Layerz
• Rollyo
• Fudgeit
• Treat Croissant
Croissant
Source: Annual Report, Press Releases, MRFR Analysis
11.4.4 KEY DEVELOPMENTS
TABLE 155
Month & Year
BRITANNIA INDUSTRIES LIMITED : KEY DEVELOPMENTS
Approach
Developments
Britannia Industries Ltd has commenced work on its greenfield manufacturing facility
Oct-2021
Expansion
in Barabanki, Uttar Pradesh. The plant to be set up across 30 acre, at an investment of
Rs340 crore, will have an annual production capacity of 1.25 lakh tonne.
Source: Annual Report, Press Releases, MRFR Analysis
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155
FORECAST TO 2028
11.4.5 SWOT ANALYSIS
STRENGTHS
W
O
T
OPPORTUNITIES
S
WEAKNESSES
BRITANNIA INDUSTRIES LIMITED: SWOT ANALYSIS
THREATS
BRITANNIA INDUSTRIES LTD.
FIGURE 37
▪ Britannia Bread is the largest brand in the organized bread market
▪ The company has presence in more than 60 countries across the globe
including presence in Middle East through local manufacturing in UAE and
Oman,
▪ The company has low presence in the developed markets
▪ Geographical expansion can prove beneficial for the company’s growth
▪ The biscuit segment in India continues to provide significant opportunities
for growth as the per capita consumption is much lower than that of
developed countries
▪ Fluctuations in the prices of raw materials
Source: Annual Report, Press Releases, MRFR Analysis
11.4.6 KEY STR ATEGIES
The company’s strategic expansion plan is based on the principle of ‘One new market a year’. The company is planning to expand
through local operations in Africa and South East Asia in the coming years.
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156
FORECAST TO 2028
11.5 BARILLA HOLDING S.P.A..
11.5.1 COMPANY OVER VIEW
Company Headquarter: Parma, Emilia Romagna, Italy
Founded: 1877
Workforce: 8591
Company Working:
Barilla is an Italian multinational food company. It is the world's largest pasta producer. Barilla Group has 30 production sites, 15 in
Italy and 15 in the rest of the world. The production plants are located in Italy and in Greece, France, Germany, Norway, Russia, Sweden,
Turkey, the United States (in Ames, Iowa and Avon, New York), Mexico and Canada. The company also operates mills in Italy, Greece,
Sweden, Turkey, US and Canada. While its central office is in Parma, it has corporate offices in several other countries as well, such
as Austria, Belgium, France, Germany, Greece, the Netherlands, Poland, Russia, Slovenia, Sweden, Switzerland, Turkey, the US, Mexico,
Brazil, Australia, and Japan. Barilla is distributed in the UK by Euro Food Brands Ltd. Barilla's Italian production facilities are located in
Parma, Foggia, Marcianise, Castiglione delle Stiviere, Cremona, Melfi, Rubbiano, Novara, Muggia and Ascoli Piceno.
11.5.2 F INANCIAL OVER VIEW
FIGURE 38
BARILLA HOLDING S.P.A.: FINANCIAL OVERVIEW SNAPSHOT
COMPANY FINANCIAL
OVERVIEW
7%
4%
3,800.00
1%
3,600.00
3,400.00
10%
(%)
(Euro Million)
4,000.00
3,459.00
3,483.00
3,627.00
3,890.00
2017
2018
2019
2020
3,200.00
0%
Sales
Op Profit Margin (%)
0.2%
ITALY
BAKERY PRODUCTS
33.2%
AMERICAS
42.6%
44.6%
PASTA, SAUCES, AND
READY-MEALS
55.2%
OTHERS
AAA
4.6%
19.6%
REST OF EUROPE AND
RUSSIA
Source: Annual Report, Press Releases, MRFR Analysis
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157
FORECAST TO 2028
11.5.3 PR ODUCTS OF F ER INGS
TABLE 156
BARILLA HOLDING S.P.A.: PRODUCTS OFFERINGS
Brand
Description
Founded in 1975, Mulino Bianco offers simple and tasty bakery products perfect for eating at home
Mulino Bianco
or on the go.
Pan di Stelle was created in 1983 as one of Mulino Bianco’s breakfast biscuits. Since 2007, it is a
Pan di Stelle
stand-alone brand, today loved by millions of Italians.
The Pavesi brand was established in 1937 in Novara, Italy. It offers a large range of bakery products
Pavesi
and pastries.
Harrys
Founded in 1970, Harrys is leader in the soft bread and morning goods market in France.
Wasa
Founded in Sweden in 1919, Wasa distributes crispbread products in more than 40 countries.
Founded in 1975, Mulino Bianco offers simple and tasty bakery products perfect for eating at home
Mulino Bianco
or on the go.
Source: Annual Repo,rt, Press Releases, MRFR Analysis
11.5.4 SWOT ANALYSIS
T
WEAKNESSES
W
O
OPPORTUNITIES
S
STRENGTHS
BARILLA HOLDING S.P.A.: SWOT ANALYSIS
THREATS
Barilla Holding S.p.A.
FIGURE 39
▪ The company’s brand, Harrys is a leader in the soft bread and morning
goods market in France
▪ The company is one of Europe's largest bakery groups, with 36 bakeries
in more than 20 countries
▪ The company highly focuses on its pasta business segment as compared
to the bakery segment
▪ Improving product portfolio can prove beneficial for the company’s growth
▪ Economic slowdown in the company’s key markets such as the U..K.,
France, and Italy
Source: Annual Report, Press Releases, MRFR Analysis
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158
FORECAST TO 2028
11.5.5 KEY STR ATEGIES
With planned investments of around EUR 1 billion into its industrial assets, Barilla will be driving its focus on sustainability forward in
the years to come. This foundation is the new engine in Barilla’s story of growth. The key aspect of Barilla’s business is establishing
regional value chains, from the cultivation of raw materials to processing down to distribution. Barilla has established a strategic
production network with factories in Europe, the US, and Russia. Last year, the Italian company purchased an average of 90% of its
wheat at the same location where it produces its pasta. Millions of tons of greenhouse gases will be avoided.
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FORECAST TO 2028
11.6 MONDELEZ INTERNATIONAL, INC.
11.6.1 COMPANY OVER VIEW
Company Headquarter: Chicago, Illinois, United States
Founded: 2012
Workforce: 80000
Company Working: Mondelez International, Inc. is one of the largest snack companies in the world. The company makes and sells
primarily snacks, including biscuits (cookies, crackers and salted snacks), chocolate, gum & candy as well as various cheese & grocery
and powdered beverage products. It has operations in more than 80 countries and employ around 80,000 in factories, offices, research
& development facilities and distribution activities around the world.
11.6.2 F INANCIAL OVER VIEW
FIGURE 40
MONDELEZ INTERNATIONAL, INC.: FINANCIAL OVERVIEW SNAPSHOT
2.8%
26,800.00
26,600.00
26,400.00
26,200.00
26,000.00
25,800.00
25,600.00
25,400.00
10%
-0.3%
26,581.00
0.2%
0%
25,896.00
25,938.00
2017
2018
(%)
(USD Million)
COMPANY FINANCIAL
OVERVIEW
25,868.00
-10%
Sales
4.0%
7.0%
2019
Op Profit Margin (%)
Biscuits
48.0%
31.0%
22.0%
Europe
Gum & Candy
AMEA
Cheese & Grocery
31.0%
North America
9.0%
Chocolate
10.0%
2020
Beverages
38.0%
Latin America
Source: Annual Report, Press Releases, MRFR Analysis
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160
FORECAST TO 2028
11.6.3 PR ODUCTS OF F ER INGS
TABLE 157
MONDELEZ INTERNATIONAL, INC.: PRODUCTS OFFERINGS
Brand
Description
belVita Breakfast are nutritious, taste great, provide sustained energy for the whole morning and
BELVITA
can be enjoyed on-the-go.Our belVita Breakfast Biscuits are delicious and especially designed for
breakfast. They are available in more than 20 varieties in over 50 countries
Barni is a playful bear-shaped snack children love. Baked to perfection with quality ingredients like
Barni
flour, eggs, milk and chocolate, Barni biscuits soft biscuits have no artificial colors or preservatives.
They’re approved for kids’ nutrition from the age of 3 years old and can contribute to healthy kids'
snacking if consumed together with fruit and milk product.
Oreo has become the world’s top selling cookie and is enjoyed in more than 100 countries. In
OREO
markets around the world, Oreo comes in surprising local flavors, like blueberry and green tea ice
cream, and fun shapes and forms.
Cadbury
Tiger
Cadbury Chocobakes Choc Layered Cakes
Cadbury Chocobakes Choc Filled Cookies
Tiger is a range of biscuits, filled with vitamins and minerals, predominantly sold in Indonesia,
Malaysia, Philippines.
Source: Annual Report, Press Releases, MRFR Analysis
11.6.4 KEY DEVELOPMENTS
TABLE 158
Month & Year
MONDELEZ INTERNATIONAL, INC.: KEY DEVELOPMENTS
Approach
Developments
Mondelēz International today announced an agreement to acquire a significant
majority interest in Give & Go, a North American leader in fully-finished sweet baked
goods and owners of the famous “two-bite”® brand and the “Create-ATreat”® brand known for cookie and gingerbread house decorating kits. With a
Feb-2020
Acquisition
leading position in brownies, cupcakes, pastries and muffins, as well as access to
the fast-growing in-store bakery channel, the acquisition of Give & Go expands
Mondelēz International’s leadership in broader snacking. With Give & Go, Mondelez
already expanded from our core cookies into cupcakes, donuts and more. Other
Mondelez brands also will be leveraged with opportunities in the company’s new
categories.
Mondelez India has entered the Rs 2000 crore cakes category with the launch of
Cadbury Chocobakes Choc Layered Cakes Cadbury Chocobakes Choc Layered
July 2020
New Product Launch
Cakes was launched in July 2020. Commenting on the launch, Deepak Iyer,
President – India, Mondelez International, said “We are expanding our portfolio into
related categories by driving the taste of chocolate as a snack – beyond the bar.”
Source: Annual Report, Press Releases, MRFR Analysis
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FORECAST TO 2028
11.7 ASSOCIATED BRITISH FOODS PLC
11.7.1 COMPANY OVER VIEW
Company Headquarter: London, England
Founded: 1934
Workforce: 128000
Company Working: Associated British Foods plc is a diversified multinational food, ingredients and retailing company. The company
is a diversified group with a wide range of food and ingredients businesses, more than 40 well known grocery brands. The company
has operations in 53 countries worldwide along with high degree of autonomy in the operations and sells its products in over 100
countries by supporting and enabling the world's bakers, both small and large.
11.7.2 F INANCIAL OVER VI EW
FIGURE 41
ASSOCIATED BRITISH FOODS PLC: FINANCIAL OVERVIEW SNAPSHOT
COMPANY FINANCIAL
OVERVIEW
15%
1.3%
-1.3%
-9.7%
GBP Million)
15.5
10%
15.4
15.0
20%
14.5
0%
14.0
15.6
15.4
13.5
13.9
13.0
(%)
16.0
-10%
-20%
2017
2018
Sales
22.3%
10.2%
14.2%
37.7%
10.2%
Agriculture
9.6%
Retail
UK
Europe & Africa
Americas
Ingredients
8.8%
2020
Op Profit Margin (%)
Grocery
Sugar
49.3%
2019
Asia-Pacific
37.9%
Source: Annual Report, Press Releases, MRFR Analysis
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FORECAST TO 2028
11.7.3 PR ODUCTS OF F ER INGS
TABLE 159
ASSOCIATED BRITISH FOODS PLC: PRODUCTS OFFERINGS
Solution
Description
• Allinson’s is a premium bread brand founded 130 years ago by pioneering baker Thomas Allinson.
Allinson’s
• No Crusts Soft White
• No Crusts Tasty Wholemeal
• Soft White Rolls
• Tasty Wholemeal Rolls
• 50/50 Vitamin Boost Rolls
• Golden Pancakes
• Chocolate Pancakes
Kingsmill
• Blueberry Pancakes
• Syrup & Sultana Pancakes
• Breakfast Muffins
• Crumpets
• Hot Cross Buns
• Multi-Seed
• Sourdough
• Soy & Canterbury Linseed
• Country Grains
Ploghmans Bakery
• Farmhouse Wholemeal
• Wholemeal & Grains
• Harvest Rye
• Rustic White
Source: Annual Report, Press Releases, MRFR Analysis
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FORECAST TO 2028
11.8 FINSBURY FOOD GROUP PLC
11.8.1 COMPANY OVER VIEW
Company Headquarter: United Kingdom
Founded:1925
Company Working: Finsbury Food Group PLC is a United Kingdom-based bakery manufacturer. The company is engaged in producing
a range of cakes, bread and bakery snack products for retailers and the foodservice channel. Its segments include UK bakery and
Overseas. Most of its revenue is generated from its UK bakery segment. The company runs eight manufacturing facilities and bakery
companies, and one distribution company, continually investing in them to improve efficiency and customer satisfaction.By targeting
these areas, the company offers growth potential and differentiation for its major customers, while fulfilling the changing needs and
tastes of end consumers.
11.8.2 F INANCIAL OVER VIEW
FIGURE 42
FINSBURY FOOD GROUP PLC : FINANCIAL OVERVIEW SNAPSHOT
COMPANY FINANCIAL
OVERVIEW
450.00
4%
2%
10%
440.00
446.33
435.00
-3%
0%
443.46
430.00
425.00
(%)
(USD Million)
445.00
433.68
429.79
420.00
-10%
2018
2019
Sales
2020
2021
Op Profit Margin (%)
Source: Annual Report, Press Releases, MRFR Analysis
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FORECAST TO 2028
11.8.3 PR ODUCTS OF F ER INGS
TABLE 160
Category
FINSBURY FOOD GROUP PLC : PRODUCTS OFFERINGS
Product
Description
Memory Lane is one of the UK’s leading suppliers of pre-packed cakes to the
Memory lane cakes
multiple retailers, and the leading supplier of supermarkets’ own-label ‘sharing’
cake ranges. It also produces under licence for Thorntons, Disney, Mars and other
licensed brands.
Cakes
With over 125 years of baking tradition, and part of the Finsbury Group since 2014,
Fletchers
Fletchers Bakery can trace its roots back to 1895, when it first started to produce
much-loved sliced breads. It’s now one of the most diverse and highly efficient
bakery manufacturers in the UK, serving both the retail and foodservice industries.
Source: Annual Report, Press Releases, MRFR Analysis
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FORECAST TO 2028
11.9 PLADIS GLOBAL (UNITED BISCUITS)
11.9.1 COMPANY OVER VIEW
Company Headquarter: Skanderborg, Denmark
Founded: 2016
Workforce: 17000+
Company Working: Pladis Global is a confectionery and snack foods company encompassing United Biscuits, Ülker, Godiva
Chocolatier and DeMet’s Candy Company. It was formed in January 2016 as a subsidiary of Yıldız Holding with its headquarters in
London, England. United Biscuits makers of McVitie's biscuits, Jacob's Cream Crackers, and Twiglets operates as the subsidiary of
Pladis Gobal. Pladis has formed an internal ventures team in North America to help incubate new brands and bring its products from
other countries to the US as the company said the region is 'a priority market and is well on track to achieve $1bn in sales' within the
next 10 years. In 2020, profits have soared at McVitie’s owner Pladis Foods after it lifted revenues above £2bn.
11.9.2 PR ODUCTS OF F ER INGS
TABLE 161
PLADIS GLOBAL.: PRODUCTS OFFERINGS
Solution
Products
• Biscuits for Cheese
• Mini Cheddars
• Cheddars
• Cheeselets
• Choice Grain
• Cornish Wafer
• Cream Crackers
Jacob's Cream Crackers
• Essentials Crackers
• Mediterraneo
• Thai Bites
• Water Biscuits
• Twiglets
• Crinklys
• Oddities
• Ginger Nuts
• Digestives
• Hobnobs
McVities
• BN
• Rich Tea
• Penguin
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FORECAST TO 2028
• Taxi
• Lyle's
• Mini Rolls
• Club
• Gold
• Iced Gems
• Happy Faces
• Jaffa Cakes
Source: Annual Report, Press Releases, MRFR Analysis
11.9.3 KEY DEVELOPMENTS
TABLE 162
Month & Year
MONDELEZ INTERNATIONAL, INC.: KEY DEVELOPMENTS
Approach
Developments
Pladis India has extended its signature McVitie’s digestive biscuits brand to the
July 2020
New Product Development
baked, salty snacks space with crackers, stepping up competition with Britannia
NSE and Parle.
Source: Annual Report, Press Releases, MRFR Analysis
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FORECAST TO 2028
11.10 DUNKIN BRANDS
11.10.1 COMPANY OVER VIEW
Company Headquarter: Canton, Massachusetts, U.S.
Founded: 1950
Company Working: Dunkin' Brands Group, Inc. was an American restaurant holding company which run three chains of fast-food
restaurants: Dunkin' Donuts, Mister Donut, and Baskin-Robbins. It was headquartered in Canton, Massachusetts. On October 30, 2020,
Dunkin' Brands announced that it was to be acquired by Inspire Brands in a transaction valued at $11.3 billion including the assumption
of Dunkin' Brands debt. The deal closed on December 15.
11.10.2 F INANCIAL OVER VIEW
FIGURE 43
DUNKIN BRANDS: FINANCIAL OVERVIEW SNAPSHOT
COMPANY FINANCIAL
OVERVIEW
4%
1,400.00
1,350.00
2%
1,300.00
(%)
(USD Million)
10%
4%
1,250.00
1,200.00
1,248.36
1,150.00
1,275.55
2016
2017
Sales
1,321.62
1,370.00
2018
2019
0%
Op Profit Margin (%)
Source: Annual Report, Press Releases, MRFR Analysis
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FORECAST TO 2028
11.10.3 PR ODUCTS OF F ER INGS
TABLE 163
DUNKIN BRANDS: PRODUCTS OFFERINGS
Brand
Products
• Donut
• Muffin
• Bagel
Dunkin Donut
• Bagel with Cream Cheese
• Munchkins
• Hash Brown
• Croissant
• Coffee Roll
Source: Annual Report, Press Releases, MRFR Analysis
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FORECAST TO 2028
12.1 REFERENCES

All India Bread Manufacturers' Association

Home Baking Association

American Bakers Association

Federation of Bakers

Craft Bakers Association (CBA)

FPSA Bakery Council

Baking Association of Canada

The International Association of Plant Bakeries
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