Market Size of Premium Bakery Products
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.25 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Premium Bakery Products Market Analysis
Premium Bakery Products Market is projected to register a CAGR of 6.25% during the forecast period (2022-2027).
The COVID-19 pandemic has affected the premium baked products sector heavily. The market's negative impact was caused by the disruption of global supply chains, which resulted in enterprises closing down their operations or operating with reduced employees, resulting in poor production. Furthermore, customers stacking long-life commodities, such as cookies, resulted in lower market availability, leading to the unavailability of products as per consumers' needs, ultimately affecting the market.
There is a rise in the health-conscious population globally, this resulted in the sale of premium bakery products gaining momentum, products containing whole wheat, less sugar, and plant-based ingredients are now in trend mainly due to the pandemic.
Over the medium term, the factors which will affect the market are, a growing health-conscious population globally, an increase in expenditure on premium products, ease of availability of premium products through online sales channels, growing personal disposable income, and the rising demand for premium products in the rapidly developing economies such as India.
As per the data from International Diabetic Federation, the total number of people living with diabetes is projected to rise to 643 million by 2030, these alarming numbers generate the need for bakery products that contain premium ingredients which are not harmful to health. The market is anticipated to be significantly pushed in the medium term by launch of premium whole wheat, light (low calorie), natural, and additive-free bakery products. In 2022, Zeelandia has collaborated with InnoV to create free-from products such as a premium gluten-free croissant to be showcased at the Free From Functional Food Expo in Spain. During the forecast period, the growing accessibility of these premium bakery goods would further support market expansion.
Premium Bakery Products Industry Segmentation
Bakery goods come in a vast variety and are made from flour or meal made from cereals. The quality of premium bakery goods is greater than average, yet they are frequently more expensive. The global premium bakery products market is segmented based on Product type, Distribution channel, and Geography. Based on product type, the market is segmented into bread, cookies and biscuits, morning goods, cakes and pastries, and others. Based on the distribution channel, the market is segmented into hypermarkets/ supermarkets, specialty stores, online retail stores, and other distribution channels. The study also covers the global level analysis of the major regions, such as North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| By Product Type | |
| Breads | |
| Cookies and Biscuits | |
| Morning Goods | |
| Cakes and Pastries | |
| others |
| By Distibution Channel | |
| Supermarkets/Hypermarkets | |
| Speciality stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| By Geography | |||||||||
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Premium Bakery Products Size Summary
The premium bakery products market is experiencing steady growth, driven by evolving consumer preferences and an increasing demand for healthier food options. The market has been impacted by the COVID-19 pandemic, which disrupted supply chains and affected production levels. However, the rise in health-conscious consumers has led to a surge in the popularity of premium bakery products that incorporate whole wheat, reduced sugar, and plant-based ingredients. The growing disposable income and expenditure on premium products, coupled with the ease of online availability, are further propelling market expansion. The demand for bakery products with premium, health-friendly ingredients is expected to rise, particularly in rapidly developing economies.
The market is characterized by innovation and product development, with both established companies and startups introducing new offerings to meet consumer demands. The introduction of natural sweeteners and gluten-free options is attracting health-conscious consumers, while the increasing prevalence of health concerns such as diabetes and obesity is driving the demand for fortified bakery products. Europe, in particular, is a lucrative market due to its consumers' willingness to invest in premium products that align with their health goals. The competitive landscape is marked by collaborations, mergers, and acquisitions, as companies strive to enhance their product portfolios and cater to diverse consumer tastes.
Premium 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 Force 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 Breads
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2.1.2 Cookies and Biscuits
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2.1.3 Morning Goods
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2.1.4 Cakes and Pastries
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2.1.5 others
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2.2 By Distibution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Speciality stores
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2.2.3 Online Retail Stores
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2.2.4 Other Distribution Channels
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2.3 By 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 Spain
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2.3.2.4 France
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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 & Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East & Africa
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Premium Bakery Products Market Size FAQs
What is the current Premium Bakery Products Market size?
The Premium Bakery Products Market is projected to register a CAGR of 6.25% during the forecast period (2024-2029)
Who are the key players in Premium Bakery Products Market?
Mondelez International, Inc., Associated British Foods plc, General Mills, Inc., Finsbury Food Group Plc and Bakers Delight Holdings Limited are the major companies operating in the Premium Bakery Products Market.
