Key Bread And Bakery Products Market Trend 2024-2033: Slicing Through The Digital Crust

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How is the global bread and bakery products market shaping up? What is the projected market size?

The bread and bakery products market size has realized robust growth in recent years. It is anticipated to grow from $221 billion in 2023 to $234.99 billion in 2024 at a compound annual growth rate CAGR of 6.3%. The growth during the historic period can be ascribed to cultural and regional influences, strategic marketing and branding, the globalization of food culture, retailing trends and merchandising, economic factors and overall affordability. Beyond these numbers, the bread and bakery products market size is predicted to see strong growth in the near future, growing to $296.79 billion in 2028 at a compound annual growth rate CAGR of 6.0%.

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What are the key factors driving the growth of the global bread and bakery products market?

One major growth driver is the escalating global population, which is projected to reach 10 billion by 2050. This population increase will inevitably create more demand for food, including bread and bakery products. The supply for manufacturing materials used in bread and bakery products, as well as trade volumes, will need to surge in order to fulfill this elevated demand. Consequently, this market is poised to benefit from the ascending demand for bakery and confectionery products occasioned by the global population surge during the forecast period.

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Which are the key industry players contributing to the growth of the global bread and bakery products market?

Leading contributors operating within the bread and bakery products market include Walker's Shortbread Ltd., Cargill Inc., Archer Daniels Midland Company, George Weston Ltd, Mondelez International Inc., Britannia Industries Ltd., Wm Morrison Supermarkets plc, Associated British Foods plc, Grupo Bimbo, General Mills Inc., Yildiz Holding Inc., Lotte Chemical Corporation, S.A.B. de C.V., Yamazaki Baking Co. Ltd., Flowers Foods Inc., Bimbo Bakeries USA, Barilla Group, Lantmännen, ARYZTA AG, Tate & Lyle plc, Harry-Brot GmbH, Dawn Food Products, Finsbury Food Group Plc, McKee Foods Corporation, CSM Bakery Solutions, Wenner Bread Products Inc., Rich Products & Solutions Pvt. Ltd., Neri's Bread & Bakery Products Inc., Damascus Bakeries Inc., and Franz Bakery. These industry players continuously leverage innovative strategies, technologies, and products to maintain their competitive edge within the market.

What recent trends are impacting the global bread and bakery products market?

More recently, bread and bakery product manufacturers have started relying heavily on social media platforms to boost marketing. As increasing numbers of consumers share their dining experiences on social media platforms such as Instagram, Pinterest, and Facebook, manufacturers have begun designing innovative and visually appealing bakery products to gain popularity. According to Maru/Matchbox, 69% of millennials photograph or film their food prior to consuming it, leveraging this trend to attract new customers.

What are the key segments of the global bread and bakery products market?

The bread and bakery products market is segmented by type into bread, cake and pastries, and other bread and bakery products. In terms of origin, the market is segmented into whole wheat flour and multi grain flour, while its distribution channels include supermarkets/hypermarkets, convenience stores, e-commerce, and other distribution channels.

What is the regional outlook of the global bread and bakery products market?

As of 2023, the largest region within the bread and bakery products market was Asia-Pacific, followed by North America as the second-largest region. The regional analysis within the bread and bakery products market report comprises Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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