The global bakery products market 2019-2023 is expected to post a CAGR of more than 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global bakery products market 2019-2023. (Graphic: Business Wire)
Food products that contain gluten can cause side effects such as digestive issues and celiac disease, leading to an increased consumer preference for gluten-free bakery products. This has encouraged vendors to introduce a wide variety of products under the gluten-free category. The demand for gluten-free bakery products is expected to increase significantly during the forecast period, which will have a positive impact on the growth of the bakery products market.
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As per Technavio, the growing popularity of clean-label and artisan bakery products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Bakery Products Market: Growing Popularity of Clean-Label and Artisan Bakery Products
Consumers are increasingly seeking products that contain all-natural and wholesome ingredients. Thus, the demand for artisan bread is expected to increase as it contains rich, decadent flavors and textures. The bakery products market has also been recording a trend of clean labeling over the last few years. Thus, bakers are producing bakery products using minimal ingredients while ensuring that these ingredients are recognized and perceived as wholesome by consumers. Thus, the growing popularity of clean-label and artisan bakery products is expected to fuel the growth of the bakery products market during the forecast period.
“Apart from the growing popularity of clean-label and artisan bakery products, other factors such as the increase in the on-trade sales of bakery products, and the increasing online presence of bakery product vendors will boost the bakery products market growth during the forecast period,” says a senior analyst at Technavio.
Global Bakery Products Market: Segmentation Analysis
This market research report segments the global bakery products market by product (bread and rolls, cakes and pastries, cookies, and others) and geographical regions (North America, Europe, APAC, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA, respectively. The growth of the bakery products market share in APAC can be attributed to factors such as the increasing consumer demand for clean label foods and the expansion of global players in the region.
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Some of the key topics covered in the report include:
Five Forces Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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