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   Global Packaged Bakery Products Market - Demand For Healthy Snacks To Boost Growth
by Technavio
Posted: Monday, December 18, 2017 at 3:26PM EST

LONDON -- The latest market research report by Technavio on the global packaged bakery products marketpredicts a CAGR of close to 5% during the period 2017-2021.

The report segments the global packaged bakery products market by product (bread; cakes and pastries; cookies; crackers and pretzel; and doughnuts), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global packaged bakery products market, according to Technavio researchers:

  • Increased snacking and indulgence consumption: a major market driver
  • In 2016, the bread segment dominated the market by occupying almost 48% share
  • EMEA dominated the global packaged bakery products market with over 48% share in 2016
  • Grupo Bimbo, Finsbury Food Group, Flower Foods, Hostess Brands, MCKEE FOODS, and Yamazaki Baking are the leading players in the market

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Increased snacking and indulgence consumption: a major market driver

Increased snacking and indulgence consumption is one of the major factors driving the global packaged bakery products market. There has been a notable change in the consumption pattern and food preference among consumers. Most consumers are trading their routine meals for snacks. Also, there has been a rise of nearly 41.39% in the number of consumers who prefer healthy and tasty snacks in the past 10 years. Similarly, the consumption of bakery products, such as bread, rolls, pies, and other similar products in breakfast, has also increased primarily due to hectic lifestyles and urbanization, where consumers often skip their meals and consume such on-the-go food instead.

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Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

EMEA: largest packaged bakery products market

Technavio researchers anticipate high growth for the global packaged bakery products market in EMEA due to the growing disposable income, high demand for convenience foods, and increasing demand for healthier products. The market is growing steadily in the Middle East and Africa (MEA), with Egypt and Turkey emerging as the key countries in the packaged bakery products market. The growth is primarily attributed to the expanding consumer indulgence on bakery products.

According to Manjunath Reddy, a lead analyst at Technavio for research on food “Consumers prefer bakery products that are both healthy and tasty due to which the demand for gluten-free bread, high-fiber loaves, and low-fat bread is on the rise. Similarly, in the cakes and pastries and cookies segments, the demand for multi-cultural flavors and designs, reduced sugar, low-calorie and low-fat products has registered an increase. Healthy grains, such as spelt and oats, are also being introduced in the market.”

Competitive vendor landscape

The global packaged bakery products market is subject to the rapidly changing consumer demands and preferences. Vendor performance in the market may be affected by the changing consumer-spending patterns. The market is highly fragmented owing to the presence of numerous small and large vendors. The vendors in the market compete based on factors such as price, quality, innovation, service, reputation, and distribution.

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Source: Technavio

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