Boston, MA -- (SBWIRE) -- 06/23/2014 -- Value sales of baked goods are expected to increase by 5% in current terms in 2013, a slight decrease on the previous year's growth. While the category of baked goods in Taiwan is maturing, it is also progressing towards more healthy and sophisticated products. Moreover, domestic consumption of baked goods continued to expand, in part due to the growing number of outlets offering fresher and healthier options. Previously, consumers bought bread and other goods at traditional bakeries, but their expansion into convenience stores has given consumers a large channel from which to purchase. Consumers will often choose baked goods at these outlets, as bread is quickly becoming a typical part of meals for the Taiwanese.
Unpackaged/artisanal products are expected to continue to make up a large majority of baked goods sales in 2013, accounting for an expected 65% value share. These have traditionally been the primary outlet for fresh baked goods and the popularity of the industry helped to expand both chained and private bakeries over the review period. These channels continue to develop healthier and more-creative baked goods and benefit from higher unit prices. Moreover, consumers overwhelmingly prefer artisanal cakes and pastries due to their freshness.
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Value sales of baked goods are expected to increase at a constant CAGR of 1% over the forecast period. The growth rate of baked goods in Taiwan is expected to slow down because of the increasing maturity of the category and the availability of alternatives. Therefore, growth rates are expected to be lower over the forecast period; however, the potential forecast period opportunities for growth, such as product innovations and promotions, will help to stimulate short-term demand.
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