Bread and Baked Food Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 04/07/2017 -- Three main factors stoking demand in the in the global market for bread and baked foods are a burgeoning world population, rising fortunes of people, and their consequent changing food preferences, finds a report by Transparency Market Research. The report, titled, "Bread and Baked Food Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024," finds that increasing thrust on product development is another factor stoking the market. This has resulted in a wide array of products being purveyed and consumers are spoilt for a choice literally.
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The report also finds that the availability of these products in supermarkets and convenience stores along with the marketing blitz has resulted in an uptick in sales. On account of all the aforementioned factors, the global market for bread and baked foods is slated to see substantial growth in the near future. Countering the growth in the market, however, is the rising knowledge about a healthy lifestyle and concerns over ill effects of sugar intake. Further, the trend of dieting is also having a negative impact on the market's growth. Nevertheless, the rapid pace of urbanization, growing number of working women, and the soaring popularity of convenience foods will likely help overcome the obstacles and help the market grow at a healthy clip in the foreseeable future.
Geographically, the key segments of the global market for bread and baked foods are North America, Europe, Asia Pacific, and the Rest of the World. Among them, Europe and North America hold a sway over the market and together account for a substantial share in it. The robust demand for cakes, pies, pastries, biscuits, cereals, scones, etc. has provided a major fillip to the market in the regions.
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The market in Asia Pacific is expected to expand impressively in the near future owing to the prominent players expending their energies on product development and hence expanding their product portfolio to attract more consumers and retain existing ones. Additionally, the changing preference of consumers coupled with the increasing spending power of people in the region is also driving the market for bread and baked foods.
The report studies the market for bread and baked foods from different angles to assess its size and prospects. It presents a thorough analysis of the current competitive scenario and also conducts a SWOT analysis to understand the strengths and weaknesses of the key players and the threats and opportunities awaiting them. The report finds that more players will enter the fray in the upcoming years and further intensify the competition on account of a continued spike in demand.
Some of the key players profiled in the report include Grupo Bimbo, Nestle Chile, and Britannia Industries Ltd.