Market Size of Baked Food And Cereals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.69 % |
| Fastest Growing Market | Asia |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players.webp "Baked Food And Cereals Market Major Players"){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Baked Food and Cereals Market Analysis
The baked food and cereals market is valued at USD 552.4 billion for the current year and is projected to register a CAGR of 5.69% over the next five years.
- The bakery food and cereal market is mainly driven by convenience. The necessity to embrace practical solutions in every area of life grows due to the fast-paced way of living. It's challenging for customers to spend more time cooking due to long working days. So, a busy lifestyle increases the consumption of foods like bread, cookies, cakes, and breakfast cereals that are ready to consume.
- Additionally, a fast-paced lifestyle brought on by expanding urbanization and high purchasing capacity also significantly contribute to the rise in demand for convenient, healthy foods. According to the state of a snacking report published by Mondelez International in 2022, 64% of consumers prefer snacking as regular eating behavior over traditional mealtime.
- Additionally, the cost of cakes and pastries is typically more than regular bread manufactured in in-store bakeries. Still, the wide accessibility of options, customization, and expanded options attract consumers to buy, thereby driving the segment's and industry's revenue. Also, there are continuous innovations as the bakery and cereal industry invests a lot in developing beneficial and nutritional products.
- Low-carb, high-fiber, multigrain, and fortified baked food & cereals that appeal to health-conscious consumers have triggered the market growth. The bakery and cereal industry has satisfied the consumers' health concerns and their indulgence in consuming baked and packaged foods as they are produced with high-quality ingredients.
- However, the bakery products contain a significant number of calories. Owing to this factor, health-conscious consumers try to consume low-calorie bakery products. Meanwhile, the increasing prevalence of obesity worldwide is anticipated to drive the sales of low-calorie bakery products over the forecast period.
Baked Food and Cereals Industry Segmentation
Bakery products are commonly classified as bread, cakes, cookies, rolls, and pastries, an everyday staple in various regions that provide nutrients in the human diet. On the other hand, cereals consumed as breakfast are made from processed grains or multiple grains, such as corn, oats, wheat, and others.
The global baked food and cereals market is segmented by product type, distribution channel, and geography. By product type, the market is segmented into bread, breakfast cereals, biscuits and cookies, morning goods, cakes and pastries, and other product types. By distribution channel, the market is segmented into supermarkets/hypermarkets, specialist stores, convenience stores/grocery stores, online retail stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa.
The report offers the market size in value terms in USD for all the above-mentioned segments.
| Product Type | |
| Bread | |
| Breakfast Cereals | |
| Biscuits and Cookies | |
| Morning Goods | |
| Cakes and Pastries | |
| Other Product Types |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Specialist Stores | |
| Convenience Stores/Grocery Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |||||||||
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Baked Food And Cereals Market Size Summary
The baked food and cereals market is experiencing significant growth, driven primarily by the increasing demand for convenience foods. As lifestyles become more fast-paced due to urbanization and longer working hours, consumers are leaning towards ready-to-eat options like bread, cookies, cakes, and breakfast cereals. This shift is further supported by a growing preference for snacking over traditional meals, as highlighted by consumer trends. The market is also witnessing a rise in health-conscious products, such as low-carb, high-fiber, and fortified baked goods, catering to consumers' desires for nutritious and indulgent options. Innovations in product offerings, including artisan bakery goods that use whole grains and natural ingredients, are attracting consumers willing to pay a premium for quality and health benefits.
The global baked food and cereal market is highly competitive and fragmented, with numerous local and international players vying for market share. Companies like Grupo Bimbo, The Kellogg's Company, General Mills, Mondelez International Inc., and Nestlé S.A. are key players employing strategies such as mergers, acquisitions, and new product developments to drive growth. The market is also seeing a rise in artisanal bakeries, which offer unique and nutritious products, appealing to consumers' increasing demand for high-quality and health-oriented baked goods. In regions like Asia, the focus on value-added and health-conscious products is evident, with offerings such as gluten-free and high-fiber options gaining popularity. The market's expansion is further supported by the growing availability of innovative and diverse bakery and cereal products, catering to the evolving consumer preferences for healthier and more convenient food choices.
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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1.1.1 Demand for Convenient and Healthy On-The-Go Snacking
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1.1.2 Consumers Proclivity Towards Artisan Bakery Goods
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1.2 Market Restraints
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1.2.1 Consumers Shift Towards Healthy Substitutes of Bakery Products
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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 Bread
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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/Grocery 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 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 France
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2.3.2.4 Spain
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 South Africa
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2.3.5.2 United Arab Emirates
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2.3.5.3 Rest of Middle East and Africa
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Baked Food And Cereals Market Size FAQs
What is the current Global Baked Food and Cereals Market size?
The Global Baked Food and Cereals Market is projected to register a CAGR of 5.69% during the forecast period (2024-2029)
Who are the key players in Global Baked Food and Cereals Market?
Grupo Bimbo SAB de CV, General Mills Inc. , The Kellogg's Company, Mondelez International Inc. and Nestlé S.A. are the major companies operating in the Global Baked Food and Cereals Market.
