It is no secret that baked goods are the most prevalent food preference throughout the world. Right from fresh bread and pastries to cookies and cakes, bakery products are usually linked with comfort and luxury. Also, convenient, ready-to-eat bakery products are becoming more and more popular among customers as their dietary habits and lifestyles change, boosting the bakery products market demand.
Furthermore, there has been a noticeable rise in the desire for healthier products like whole-grain bread and low-sugar pastries. Yes, it should come as no surprise that the popularity of healthy baking has increased recently since more and more people are placing a higher priority on their health and wellbeing. Whole grain and natural sweeteners, as well as sugar- and gluten-free choices, are some of the health-conscious bakery items that are gaining popularity.
In this blog, let’s understand if bakery products are good for health, their market insights, and growth drivers.
What are Bakery Products?
Food items manufactured and marketed by bakeries, which are businesses dedicated to baking and selling baked goods, are known as bakery products. These goods are quite diverse and are typically created with flour, sugar, eggs, and other substances. Cakes, bread, pastries, muffins, cookies, croissants, and bagels are a few of the bakery’s offerings. Bakery goods have a rich history that spans millennia and are an essential component of many civilizations throughout the world. Their wonderful flavors and versatility continue to grow their popularity, catering to a wide range of tastes and preferences.
Key Nutritional Facts
Here are the nutritional values of bakery products and why they are an important part of a healthy, balanced diet.
- Vitamins and other minerals
The global bakery products market was valued at USD 219.70 billion in 2022 and is expected to grow to USD 351.61 billion at a CAGR of 4.8% during the forecast period of 2032.
Benefits of Baked Products
Although baked goods have been accused by many, they are actually delicious and excellent for you to eat every day. Here are a few advantages of baked goods in case you still need to consider them.
- Contains essential nutrients
- Visually appealing
- Rich in antioxidants
- Boosts energy and mood
- Rich in taste
Growth Drivers of the Market
The rise in the consumption of ready-to-eat foods worldwide can be ascribed to people’s prevalent, fast-paced lifestyles. Over the anticipated years, the demand for these items is expected to be driven by this shift in dietary preferences. Because they are quick and easy to prepare, ready-to-eat choices are becoming more and more popular among customers as they meet the needs of modern living.
Furthermore, the culinary scene has been greatly impacted by the growing popularity of ethnic cuisines. This is particularly true in the European market, where ethnic cuisines such as Thai and Mexican have become very popular at a number of eateries and food outlets. Also, the bakery products market demand that goes well with various ethnic cuisines has consequently increased noticeably.
Leading Regions of the Market
Europe holds the largest bakery products market share. This popularity is a result of the strong demand for a variety of baked goods in the area. Because they are common foods in European diets, goods like those that are gluten-free, high-fiber, and trans-fat-free are drawing a lot of attention.
Moreover, Asia Pacific will expand gradually. This prediction is based on the strategic positioning of well-known corporations in developing nations, particularly in India, China, Japan, and Singapore. The crucial roles that these nations play in the region act as powerful accelerators for the projected economic trajectory.
Take Home Message
A few of the major factors and trends propelling the growth of the bakery products market are shifting lifestyles, quick innovation in designs, tastes, flavors, textures, and processes, population growth, and increased disposable income. Also, the market for bakery products is expanding due to consumer demand for fresh baked goods, organic bakery goods, and low-calorie items.