Baked Foods Market-Overview
By 2030, the baked foods market is anticipated to grow to about USD 265.34 billion, with a CAGR of 8.12% from 2022 to 2030.
The popularity of baked food items has risen with the increased pervasiveness of a fast-paced lifestyle; this factor is estimated to promote the baked foods market size. The food, beverage, and nutrition reports are made by Market Research Future, which includes market options for expansion. The market is estimated to be driven by an optimistic CAGR in the forecast period.
The comfort food quotient allotted to cakes & pastries, and other baked food items are estimated to rise as individuals crave a convenient and warm food option that can be eaten on the go. This aspect is estimated to work favorably for the baked foods market companies in the upcoming period.
Competitive Analysis
The stimulating effect of analytics to business value is estimated to encourage innovation and more strategic plans in the forthcoming period. The impact of automation is estimated to trickle to virtually every area of business operations and fostering the development of the global market in the forecast years. The gradual growth in the bottom-line results is estimated to be conducive to the market players plans’ for the future. The incorporation of digitalized processes in businesses is predicted to spur the market in the impending period. The organizations are likely to improve their response time and reaction to crisis considerably in the upcoming years regarding the current situation created by the global pandemic. The market is estimated to exhibit a resurgent phase of development in the impending period. The market is also foreseen to take significant strides to achieve major digital investments in areas such as AI engineering and distributed cloud. The unprecedented socioeconomic challenges are estimated to have a noticeable effect on the global market in the duration of the forecast period.
The notable companies profiled in the global baked foods market are Flowers Foods (Georgia), Finsbury Food Group (U.K),Yamazaki Baking (Japan), Aryzta (Switzerland), McKee Foods (U.S.), George Weston (Canada), BreadTalk (Singapore), Grupo Bimbo (Mexico), Hillshire Brands (U.S.), Hostess Brands (U.S.), Monginis (India), and Pepperidge Farm (U.S.), among others.
Segmental Analysis
The segmental assessment of the baked foods market overview is conducted on the basis of region, type, and distribution channel. On the basis of the types, the baked foods market is segmented into bread & rolls, donuts, cakes & pastries, biscuits, and others. On the basis of the channel of distribution, the baked foods market is divided into food service and food retail. Based on the regions, the baked foods market is segmented into North America, Europe, Asia Pacific, and other distinguished regional markets.
Detailed Regional Analysis
The regional examination of the baked foods market is conducted for regions such as North America, Europe, Asia Pacific, and other distinguished regional markets. The North American baked foods market is directing the global market, followed by the regional market in Europe. The North American regional market has asserted its dominance due to the busy work schedule of the regional consumers, which has led a bulk of the inhabitants to have a favorable preference for rolls, wraps, and pocket sandwiches; this is foreseen to motivate the expansion of baked foods market in this region. Moreover, the collective incidence of a health-conscious consumer base is likely to influence the intensifying demand for baked foods. The European regional market will observe the next highest development in the baked foods market, followed by the North American region. Owing to the demand for soluble dietary fibers, the collective per capita disposable income and developing requirement for baked products will propel the development of the baked foods market. The Asia Pacific regional baked foods market is observed to be the fastest developing region in which the emerging markets of India and China are the foremost suppliers. The rapid modernization with product variation in the bakery industry will lift the evolution of the baked foods market in the course of the forecast period.
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