Market Size of Asia-Pacific Baked Food and Cereals Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 6.50 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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APAC Baked Food & Cereals Market Analysis
The Asia-Pacific baked food and cereals market is expected to record at a CAGR of 6.5% during the forecast period (2020-2025).
- Changes in the consumption pattern of baked food and cereals and the inclination toward healthier products are the primary factors affecting the market. The increased adoption of Western lifestyle and increased preference for nutritional baked food and cereals are driving the sales in the market.
- Baked food and cereals, being a major part of the daily diet, cater to the demand for functional food. The new low-carb, high-fiber, multigrain, and fortified baked food and cereals that appeal to health-conscious consumers have triggered the market growth.
APAC Baked Food & Cereals Industry Segmentation
The Asia- Pacific baked food and cereals market is segmented by product type, which includes breads, breakfast cereals, biscuits and cookies, morning goods, cakes and pastries, and other product types. The market is also segmented on the basis of distribution channel, including supermarkets/hypermarkets, specialist stores, convenience stores, online retail, and other distribution channels. The study also involves the regional-level analysis, covering China, Japan, India, Australia, and Rest of Asia-Pacific.
Product Type | |
Breads | |
Breakfast Cereals | |
Biscuits and Cookies | |
Morning Goods | |
Cakes and Pastries | |
Other Product Types |
Distribution Channel | |
Supermarkets/Hypermarkets | |
Specialist Stores | |
Convenience Stores | |
Online Retail | |
Other Distribution Channels |
Geography | |
China | |
Japan | |
India | |
Australia | |
Rest of Asia-Pacific |
Asia-Pacific Baked Food and Cereals Market Size Summary
The Asia-Pacific baked food and cereals market is experiencing significant growth, driven by changing consumer preferences and an increasing inclination towards healthier food options. The adoption of a Western lifestyle has led to a heightened demand for nutritional baked goods and cereals, which are becoming integral to the daily diet as functional foods. The market is witnessing a surge in popularity for products that are low in carbohydrates, high in fiber, multigrain, and fortified, appealing to health-conscious consumers. The evolving consumer demand for convenience foods, such as 'snacking-on-the-go' and 'pick-me-up' products, is further propelling the market's expansion. The rapid emergence of Western restaurants offering baked goods and the expansion of artisanal bakeries have also contributed to the growing demand for fresh baked products like cakes and breads.
In China, the bakery products market is poised to become a major player, with pastries leading the popularity among consumers. The country's economic growth, urbanization, and the influence of Western culture have collectively boosted the demand for baked goods. Chinese consumers show a strong preference for cakes, pastries, and sweet pies, with a growing inclination towards fresh artisanal baked goods. The market is highly fragmented, with numerous domestic and multinational companies vying for market share. Key players such as Grupo Bimbo, Kellogg's, Campbell Soup Company, The Garden Company Limited, and Nestle SA are focusing on launching new products with healthier and organic ingredients. The rise of private label brands is intensifying competition, further shaping the market dynamics in the region.
Asia-Pacific Baked Food and Cereals Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Breads
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2.1.2 Breakfast Cereals
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2.1.3 Biscuits and Cookies
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2.1.4 Morning Goods
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2.1.5 Cakes and Pastries
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2.1.6 Other Product Types
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2.2 Distribution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Specialist Stores
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2.2.3 Convenience Stores
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2.2.4 Online Retail
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2.2.5 Other Distribution Channels
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2.3 Geography
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2.3.1 China
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2.3.2 Japan
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2.3.3 India
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2.3.4 Australia
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2.3.5 Rest of Asia-Pacific
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Asia-Pacific Baked Food and Cereals Market Size FAQs
What is the current Asia-Pacific Baked Food and Cereals Market size?
The Asia-Pacific Baked Food and Cereals Market is projected to register a CAGR of 6.5% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Baked Food and Cereals Market?
Grupo Bimbo, Kelloggs, The Garden Company Limited, Nestle SA and Campbells Soup Company are the major companies operating in the Asia-Pacific Baked Food and Cereals Market.