Harrisburg, NC -- (SBWIRE) -- 10/19/2020 -- The report titled "Bakery & Confectionary Market" has recently added by MarketInsightsReports to get a stronger and effective business outlook. It provides an in-depth analysis of different attributes of industries such as trends, policies, and clients operating in several regions. The qualitative and quantitative analysis techniques have been used by analysts to provide accurate and applicable data to the readers, business owners and industry experts.
The global bakery & confectionary market is expected to grow from $890.9 billion in 2019 to $916.3 billion in 2020 at a compound annual growth rate (CAGR) of 2.9%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $1128.3 billion in 2023.
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Top Companies in the Global Bakery & Confectionary Market: Grupo Bimbo; Finsbury Food Group; McKee Foods; Yamazaki Baking; BreadTalk Group and Other
1) By Type: Breakfast Cereal Manufacturing; Sugar And Confectionery Product Manufacturing; Bread And Bakery Product Manufacturing; Cookie, Cracker, Pasta, And Tortilla Manufacturing
2) By Distribution Channel: Supermarkets/Hypermarkets; Convenience Stores; E-Commerce; Others
Asia Pacific was the largest region in the global bakery & confectionary market, accounting for 43% of the market in 2019. Western Europe was the second largest region accounting for 22% of the global bakery & confectionary market. Africa was the smallest region in the global bakery & confectionary market.
Many manufacturers and producers are increasingly using natural ingredients and have also reduced the use of artificial colors and flavors. Health concerns of consumers is increasing the sales of products with natural ingredients, additives and coloring agents. For instance, Pizza Hut stopped using artificial flavors and colors in its US stores in 2015.
Food and Beverage manufacturers should look to gain a stronger foothold in the increasingly popular healthy food products segment, either by introducing products with natural additives and coloring agents or by acquiring smaller firms that produce products with natural ingredients.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Bakery & Confectionary Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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