Market Size of Fortified Bakery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Fortified Bakery Market Analysis
The global fortified bakery market is projected to register a CAGR of 6.1% during the forecast period (2022-2027).
During the COVID-19 peak period, sales of non-edible products such as disinfectants, toilet paper, paper goods, and hand sanitizer were high in demand, and the sales of edible products such as bakery, meat products, and many others were up to the mark as the supply of bakery was insufficient as many of the bakers have shut operations due to shortage of labors. Along with this, disruption in logistics facilities due to the lockdown has created more issues in the market as consumers were not getting products as per their requirements which ultimately affected the market. Another factor that has created an impact on the market is the lack of raw material availability, due to which production of products was not proper. Due to these issues, smaller bakers in the unorganized segment are the worst affected, as stated by Mago, who is also a president of the All India Bread Manufacturers Association. Therefore, the demand from the household sector for bakery products has increased; on the other hand, the food services sector has faced a decline in the market for bakery products, which were considered to be one of the most demanding products in the food service sector.
Consumer inclination toward healthy food and convenience products is the leading driver leading innovations and growth in the fortified bakery market. Urbanization, the worldwide increase in the working population, the growth of out-of-home consumption, and increased demand for instant and nutritious products have been fueling the continuous sales of bakery products.
The cake and pastry segment is on the rise in the market. With the increasing demand for premium and customized cakes, the overall cake segment is witnessing an increase in demand.
Fortified Bakery Industry Segmentation
A fortified bakery product is bread or other baked goods enriched with vitamins and minerals. This type of product is important because it helps to ensure that people get the nutrients they need, especially those who may not be able to consume a varied diet. Fortified bakery products are also a good source of fiber. The fortified bakery market is segmented by product type, distribution channel, and region. The market, on the basis of product type, is segmented as cake, biscuits, bread, pastries, morning goods, and others, and on the basis of distribution channel, it can be segmented as a specialist retailer retail channel, and foodservice. Moreover, the study provides an analysis of the fortified bakery market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report offers market size and forecast for the fortified bakery market in value (USD million) for all the above segments.
| By Product Type | |
| Cake | |
| Biscuits | |
| Bread | |
| Morning Goods | |
| Others |
| By Distribution Channel | |
| Specialist Retailers | |
| Supermarkets/Hypermarkets | |
| Online Retail Channels | |
| Others |
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Fortified Bakery Market Size Summary
The fortified bakery market is experiencing significant growth, driven by increasing consumer demand for healthy and convenient food options. This trend is largely influenced by urbanization, a growing working population, and a rise in out-of-home consumption, which have all contributed to the popularity of instant and nutritious bakery products. The market is witnessing a surge in the cake and pastry segment, fueled by the demand for premium and customized offerings. Health consciousness among consumers is a key factor propelling the market, with an emphasis on nutrient-rich diets. The availability of diverse bakery products, such as gluten-free, organic, and low-calorie options, has attracted a broad consumer base, further boosting market expansion.
The global fortified bakery market is predominantly led by North America, followed by Europe, where bakery products are a dietary staple. In Asia, particularly in China and India, there is a growing appetite for fortified bakery products that offer high nutritional value. Companies in the industry are actively innovating to enhance product quality and health benefits, with major players like Associated British Foods PLC and Britannia Industries Ltd. focusing on expanding their sales networks and consumer reach. The market is also seeing strategic mergers and acquisitions, alongside significant investments in research and development to introduce new products with appealing flavors. Recent product launches, such as hemp-fortified bakery items and Ayurvedically enriched foods, highlight the ongoing innovation and adaptation within the market to meet evolving consumer preferences.
Fortified Bakery 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 By Product Type
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2.1.1 Cake
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2.1.2 Biscuits
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2.1.3 Bread
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2.1.4 Morning Goods
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2.1.5 Others
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2.2 By Distribution Channel
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2.2.1 Specialist Retailers
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2.2.2 Supermarkets/Hypermarkets
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2.2.3 Online Retail Channels
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2.2.4 Others
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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 Russia
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2.3.2.5 Italy
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2.3.2.6 Spain
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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 India
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2.3.3.2 China
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2.3.3.3 Japan
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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 Saudi Arabia
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2.3.5.3 Rest of Middle-East and Africa
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Fortified Bakery Market Size FAQs
What is the current Fortified Bakery Market size?
The Fortified Bakery Market is projected to register a CAGR of 6.10% during the forecast period (2024-2029)
Who are the key players in Fortified Bakery Market?
Associated British Foods PLC, Britannia Industries Ltd, Dawn Food Products, Modern Foods Enterprises and H&S Bakery, Inc are the major companies operating in the Fortified Bakery Market.
