Market Size of Asia-Pacific Bakery Products Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 162.97 Billion |
Market Size (2029) | USD 247.42 Billion |
CAGR (2024 - 2029) | 8.71 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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APAC Bakery Products Market Analysis
The Asia-Pacific Bakery Products Market size is estimated at USD 162.97 billion in 2024, and is expected to reach USD 247.42 billion by 2029, growing at a CAGR of 8.71% during the forecast period (2024-2029).
The emerging economies of Asia-Pacific represent more significant, untapped potential for organized development of bakery products, owing to rising disposable incomes, urbanization, and the demand for a western-style diet. Bread consumption in Asia-Pacific developing markets depends on various factors, like the dependence of the wheat market on government regulations, the degree of differences between urban and rural populations, and the rate of income growth, especially in China and Southern Asia. This crisis made consumers shift towards a healthy lifestyle and diet, creating an opportunity for manufacturers. Organic bakery products such as cookies, biscuits, bread, cakes, and others are gaining traction due to shifting consumer preferences towards healthy and organic products. These products contain protein, dietary fiber, calcium, and other minerals and are free from synthetic chemicals and pesticides, making them healthier than their conventional variants.
Along with this, the mass consumption of bread and biscuits on a daily basis is the main reason driving the market's growth. Asia-Pacific consumers are becoming more health-conscious, resulting in a demand for low-calorie and sugar-free bakery products. For instance, in September 2021, Mondelez International launched a range of sugar-free Oreos in China. The Oreo Zero biscuits contain maltitol instead of sucrose and glucose, and they also contain added fiber. The biscuits came in two varieties: classic Oreo and rose-flavored Oreo Zero. The population in the region has diversified tastes and preferences and is fond of experimenting with varieties. Manufacturers are constantly innovating and widening their product portfolios to meet dynamic consumer demands. Further, the rising acceptance of convenience foods due to the fast-paced and hectic lifestyles of consumers positively aids in market growth. Many players develop fortified, enriched bread with visible packaging methods, capturing a large number of customers at an opportunity cost.
APAC Bakery Products Industry Segmentation
Bakery products, which include bread, rolls, cookies, pies, pastries, and muffins, are usually prepared from flour or meal derived from some form of grain. The Asia-Pacific bakery products market is segmented by product type, distribution channel, and country. By product type, the market is segmented into cakes and pastries, biscuits and cookies, bread, morning goods, and other product types. By distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, specialty stores, online retail stores, and other distribution channels. Also, the study analyzes the bakery products market in emerging and established markets across the Asia-Pacific region, including China, Japan, India, Australia, and the Rest of Asia-Pacific. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
Product Type | |
Cakes and Pastries | |
Biscuits & Cookies | |
Bread | |
Morning Goods | |
Other Product Types |
Distribution Channel | |
Supermarkets/Hypermarkets | |
Convenience Stores | |
Specialist Stores | |
Online Retail Stores | |
Other Distribution Channels |
Country | |
China | |
Japan | |
India | |
Australia | |
Rest of Asia-Pacific |
Asia-Pacific Bakery Products Market Size Summary
The Asia-Pacific bakery products market is poised for significant growth, driven by factors such as rising disposable incomes, urbanization, and a growing preference for Western-style diets. The region's emerging economies present substantial untapped potential for the organized development of bakery products. Consumer shifts towards healthier lifestyles have created opportunities for manufacturers to introduce organic and natural bakery products, which are gaining popularity due to their perceived health benefits. The demand for low-calorie and sugar-free options is also on the rise, as consumers become more health-conscious. This trend is further supported by the increasing acceptance of convenience foods, which align with the fast-paced lifestyles of consumers in the region. The market is characterized by continuous innovation and product diversification to meet the dynamic tastes and preferences of Asia-Pacific consumers.
China, in particular, is experiencing rapid expansion in its bakery industry, influenced by economic growth, urbanization, and the adoption of Western dietary habits. The country's bakery market is the second-largest globally, with a growing demand for baked goods driven by rising disposable incomes and an expanding retail presence. The introduction of Western bakery innovations is reshaping consumer preferences, with a notable shift towards packaged and industrially produced baked goods. The competitive landscape of the Asia-Pacific bakery products market is marked by the presence of major regional and domestic players, who are actively engaging in mergers, acquisitions, and strategic partnerships to enhance their market presence. These developments, coupled with the increasing consumer demand for nutritious and clean-label products, are expected to propel the market's growth in the coming years.
Asia-Pacific Bakery Products 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 Cakes and Pastries
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2.1.2 Biscuits & Cookies
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2.1.3 Bread
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2.1.4 Morning Goods
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2.1.5 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 Convenience Stores
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2.2.3 Specialist Stores
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2.2.4 Online Retail Stores
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2.2.5 Other Distribution Channels
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2.3 Country
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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 Bakery Products Market Size FAQs
How big is the Asia-Pacific Bakery Products Market?
The Asia-Pacific Bakery Products Market size is expected to reach USD 162.97 billion in 2024 and grow at a CAGR of 8.71% to reach USD 247.42 billion by 2029.
What is the current Asia-Pacific Bakery Products Market size?
In 2024, the Asia-Pacific Bakery Products Market size is expected to reach USD 162.97 billion.