The bakery and pastry industry is a vibrant field responsible for crafting an array of grain-based delicacies, including bread, cakes, pies, pastries, cookies, frozen desserts, as well as baked pet treats and associated products. Factors such as appearance, flavor, consistency, aroma, and longevity hold considerable sway over the choices made by consumers when it comes to these offerings.
In 2022, the market for bakery products worldwide was estimated to be worth USD480.95bn. A compound annual growth rate (CAGR) of 6.7% is projected for the bread products market between 2023 and 2028. Currently, the market for bread products is largest in Europe. Germany, Italy, and France are the three largest European markets for bakery products.
To meet domestic demand, a great number of bakeries operate throughout Europe, with the UK, the Netherlands, and Bulgaria having the largest market shares. The rising disposable income and changing lifestyles of customers in emerging economies are driving the global market for bakery products. In response to consumer needs, new product introductions are also helping the market. The industry is expanding thanks to the growing consumption of processed goods and the move toward convenient food and drink options.
The market is also being supported by the growing demand for frozen bakery items because of their extended shelf life and convenience. Along with trying out new flavors, products, and tastes, consumers are also becoming choosier when it comes to low-calorie baked goods and other innovations. Additionally, the global baking ingredients market is forecasted to reach USD22.3m by 2026 growing at a CAGR of 6.0% from 2021. The latest advancement in processing technology is robotic automation, which is adopted by food manufacturers to improve efficiency, reduce costs, and improve throughput. Adopting robotics during bakery processing reduces waste and increases the quality of products by almost 20%.
The Sweet Tooth
The global market for sweet pastries (a category that includes products such as croissants and pain au chocolat) continues to expand. With consumers becoming ever more demanding, bakers and manufacturers have been experimenting with new formats, shapes, and flavors, while indulgence remains a key driver of purchasing behavior, reports Jonathan Thomas. However, the sector must contend with perceptions that sweet pastries have negative health associations, such as being high in calories or sugar.
Demand for sweet pastries is also strongly influenced by the prevailing eating patterns, as well as the recovery of the eating out of home market. Breakfast is considered to represent the most important eating occasion for sweet pastries such as croissants, pain au chocolat, Danish pastries, etc. However, it is important to note that they are eaten at other times of the day as well – for example, they represent an attractive form of snack for some people, while they can also be consumed as a dessert.
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