- According to a new study by Grand View Research, Inc, the worldwide bread and baked food market will witness consistent growth from 2015 to 2022. Burgeoning population, particularly in developing regions, is leading to food demand. Rising disposable incomes have been observed in the emerging economies of Asia Pacific, Middle East, Africa, Central America, and South America. This will fuel market demand.
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Bread and baked foods offer great convenience to modern consumers (running short of time). People leading hectic and urbanized lifestyles in developed regions are increasingly attracted to bread and baked foods. Moreover, such products are affordable and easily available.
Some people are sensitive to gluten. Gluten is present in wheat, rye, barley, etc. Also, health concerns regarding excessive consumption of carbohydrates are increasing. Most bakery products have high fat and sugar content. The rising style of following diet regimes may discourage these foods from being purchased. Healthier alternatives could also deter the bread and baked food market.
Market participants are trying to introduce new baking ingredients that can lessen the ill-effects on health. They are investing in the research of healthier and nutrition-dense foods. Technological advancements are anticipated to lower the operational costs and improve efficiencies. This ensures a promising spot for the market in the forthcoming years.
Grand View Research segments the bread and baked food market into products and regions. Bread products include plain white, plain non-white, and specialty. Baked products consist of rolls & pies, biscuits & cookies, cakes & pastries, and bread. The regions comprise North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa. Each of these differs from others in dietary habits and choices.
Though, North America predominantly consumes bread, its preferences are rapidly changing. Health and hygiene concerns linked with industrially manufactured foods are leading to falling demand for white bread and other processed baked items. Increasing prices of raw materials (sugar and wheat) are also negatively affecting the region.
Asia Pacific will generate considerable demand for the bread and baked food market. This is owing to growing population and urbanization. Even though bread is not a staple part of the local cuisine, it is steadily gaining prominence. The notable players in the worldwide market are Britannia Industries Ltd., Interstate Brands Corporation, Grupo Bimbo, and Nestle Chile.
Information Source: Grand View Research
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