The Business Research Company’s Bakery & Confectionery Global Market Report 2021 – COVID-19 Impact And Recovery
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According to the new market research report ‘Bakery & Confectionary Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the bakery & confectionary market is expected to grow from $887.82 billion in 2020 to $938.97 billion in 2021 at a compound annual growth rate (CAGR) of 5.8%. The growth of the bakery & confectionary market 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 bakery and confectionery market are expected to reach $1221.28 billion in 2025 at a CAGR of 7%. Companies in the bakery & confectionary market are expected to benefit from rising demand for bakery & confectionary products due to rising population, during the forecast period.
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The bakery and confectionery market consist of sales of bakery and confectionery by entities (organizations, sole traders and partnerships) that produce bakery and confectionery products. The companies in the bakery and confectionery market process raw materials into bakery and confectionery, package and distribute them through various distribution channels to both individual customers and commercial establishments. Some of the examples of bakery and confectionery products include breakfast cereals, breads, cookies, chocolates, gums, sugar confectionery and others.
Trends In The Global Bakery & Confectionary Market
Confectionery manufactures are increasingly using natural flavors in confectionery products. Innovation has been key to the development of the confectionery market. According to the United States, Food and Drug Administration the term natural flavor or natural flavoring means the essential oil, oleoresin, essence or extractive, protein hydrolysate, distillate, or any product of roasting, heating or enzymolysis, which contains the flavoring constituents derived from a spice, fruit or fruit juice, vegetable or vegetable juice, etc. Using natural flavors manufacturers are imparting new and unique taste profiles in to their products. For instance, Zaabar, Rococo Chocolates and Rozsavologyi Csokolade are manufacturing chocolate bars with cardamom flavoring.
Global Bakery & Confectionary Market Segments:
The global bakery and confectionary market is further segmented:
By Type: Breakfast Cereal, Sugar And Confectionery Products, Bread And Bakery Products, Cookie, Cracker, Pasta, And Tortilla
By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others
Subsegments Covered: Oats Breakfast Cereal, Grains Breakfast Cereal, Other Breakfast Cereal, Sugar, Confectionery Product, Bread, Cake And Pastries, Other Bread And Bakery Product, Cookie and Cracker, Dry Pasta, Dough, and Flour Mixes, Tortilla
By Geography: The global bakery market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific bakery & confectionary market accounts for the largest share in the global bakery & confectionary market.
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Bakery & Confectionary Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides bakery & confectionary market overviews, analyzes and forecasts market size and growth for the global bakery & confectionary market, bakery & confectionary market share, bakery & confectionary market players, bakery & confectionary market segments and geographies, bakery & confectionary market’s leading competitors’ revenues, profiles and market shares. The bakery & confectionary market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Bakery & Confectionary Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Bakery & Confectionary Market Organizations Covered: Grupo Bimbo; Finsbury Food Group; McKee Foods; Yamazaki Baking; BreadTalk Group.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Here is a list of reports from The Business Research Company similar to the Bakery & Confectionary Global Market Report 2021:
Bread And Bakery Products Global Market Report 2021: COVID-19 Impact And Recovery
Organic Bakery Products Global Market Report 2021: COVID-19 Growth And Change
Cookie, Cracker, Pasta, And Tortilla Global Market Report 2021: COVID-19 Impact And Recovery
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