LONDON, March 10, 2021 (GLOBE NEWSWIRE) -- Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
According to The Business Research Company’s research report on the global bakery products market outlook, trends in the market are focusing on health-conscious customers. Bread and bakery product manufacturers are offering low sugar cakes and pastries as individuals are increasingly becoming health conscious. Low sugar cakes and pastries are made using alternative or natural sweeteners such as honey, stevia and maple syrup.
According to the International Food Information Council (IFIC) Food and Health Survey 2020, around 74% of the respondents said that they were trying to limit consumption of sugar.
Besides the ingredients being adjusted, companies are increasingly offering products in small portions due to the rising awareness about the ill effects of sugary cakes and pastries. Small portion sizes allow customers to limit consumption and also taste different products. Small sizes and a lower price encourage customers to try new and exotic flavors.
For instance, Schulstand Bakery Solutions is offering pastries in small sizes due to rising popularity, especially among millennials. Mintel, a research firm has conducted a survey on 1,854 adults who purchased chocolate online in the three months leading to February 2018. The firm found that around 49% of buyers are most likely to say they would like to see more chocolate in mini-sized bars or bites.
The bread and bakery products market consists of sales of bread and bakery products by entities (organizations, sole traders and partnerships) that produce bread and bakery products. The companies in the bread and bakery products industry process flour into bread and bakery products for consumption away from the premises, and package and distribute them through various distribution channels to both individual customers and commercial establishments.
The market by value in this report is defined as the revenues that enterprises gain from goods and/or services within the specified market and geography. It does not include revenues from resales either further along the supply chain or as part of other products. Only goods and services traded between entities or sold to end consumers directly are included. Whether specifically stated or not, the markets for goods include related services and the markets for services include related goods.
The Business Research Company’s report titled Bread And Bakery Products Global Market Report 2021: COVID-19 Impact and Recovery to 2030 covers major bread and bakery products companies, bread and bakery products market share by company, bread and bakery products manufacturers, bread and bakery products market size, and bread and bakery products market forecasts. The report also covers the global bread and bakery products market and its segments.
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The global bread and bakery products market size is expected to grow from $212.5 billion in 2020 to $222.55 billion in 2021 at a compound annual growth rate (CAGR) of 4.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $279.54 billion in 2025 at a CAGR of 6%. Asia Pacific was the largest region in the global bread and bakery product market, accounting for 31% of the market in 2020. North America was the second largest region accounting for 28% of the global bread and bakery products market. Africa was the smallest region according to baking industry statistics.
Due to the COVID-19 lockdowns, sales of edible products such as bread and bakery products were up to par during the first quarter of 2020. The supply of bakery items was inadequate as many bakers had shut down their operations due to labor shortages. In addition, disruption in logistics facilities due to the lockdowns created more challenges in the bread and bakery products market as consumers were not receiving products as per their requirement, which affected the market growth. Another factor hindering the market growth was the lack of availability of raw materials due to which products production was halted. Owing to a culmination of these challenges, smaller bakers in the market were the worst affected.
However, the government began to permit shops reopening and the demand for bread and bakery products increased – especially bread as this is considered an essential product and is regularly consumed as part of a daily diet, particularly as breakfast and evening snacks. Therefore, the demand for bakery products from the household sector has picked up.
Bread And Bakery Products Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provide bread and bakery products market overview, analyze and forecast bread and bakery products market size and growth for the whole bread and bakery products market, bread and bakery products market segments and bread and bakery products market geographies, bread and bakery products market trends, bread and bakery products market drivers, bread and bakery products market restraints, bread and bakery products market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market.
The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports By The Business Research Company:
Organic Bakery Products Market Global Report 2020-30: COVID-19 Growth and Change
Bakery & Confectionary Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Grain Products Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Flour, Rice And Malt Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Sugar And Confectionery Product Global Market Report 2020-30: COVID-19 Impact and Recovery
Breakfast Cereal Global Market Report 2021: COVID-19 Impact and Recovery to 2030
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