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.
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.
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