Bakery Goods Manufacturing Market to Reach US$ 517.85 Billion by 2034, Expanding at 2.5% CAGR

According to a newly published research report by Fact.MR, a market research and competitive intelligence provider, The global bakery goods manufacturing market is approximated to reach a value of US$ 403.35 billion in 2024 and thereafter forecasted to rise at 2.5% CAGR to touch US$517.85 billion by the end of 2034. The growing desire for quick and simple food options, especially for busy customers who want fast and simple solutions when choosing meals, is one of the key factors driving the market expansion for bakery goods manufacturing.

Packaged bakery goods, including grab-and-go pastries, ready-made bread, pre-packaged desserts, and others are satisfying this need for convenience by giving consumers delicious, ready-to-eat options that need minimal preparation. Thereby, manufacturers are focusing on developing baked goods that are easier to fit into busy lives by being more portable and shelf-stable. This trend is also driving market expansion as companies are innovating to offer a variety of high-quality and handy products that are appealing to customers who are always on the go.

Throughout the assessment period, the North American region is forecasted to hold a leading position. The market is expanding in the region, particularly in the United States, due to rising consumer demand for convenient and fast-to-eat foods. With its diverse regional specialties and rich history of baking, the Western European market is providing lucrative opportunities.

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Key Takeaways from Market Study

• Turnover of the global market for bakery goods manufacturing is projected to reach US$ 517.85 billion by 2034-end.
• The North American region is estimated to register revenue worth US$ 79.43 billion in 2024.
• The market in East Asia is evaluated to expand at a 3.1% CAGR through 2034.
• The market in China is forecasted to touch a value of US$ 28.26 billion by the end of 2034
• The market in the United States is estimated to expand at a CAGR of 2.4% between 2024 to 2034.
• Based on product and service, the fresh and frozen bread & rolls segment is analyzed to reach US$ 297.34 billion by 2034.
• The market in Japan is approximated to expand at a CAGR of 3.2% through 2034.

“To provide a variety of products, such as low-sugar, organic, gluten-free, and others, prominent bakery goods manufacturing companies are focusing on expanding their product lines,” says a Fact.MR analyst

Fresh and Frozen Bread & Rolls Gaining Popularity among More Consumers

The growing consumer preference for convenience and quality is driving up demand for both fresh and frozen bread & rolls. While frozen options offer a longer shelf life without compromising flavor or texture, fresh bread & rolls meet consumer demand for goods that feel handmade and artisanal.

The growing number of quick-service restaurants and café culture is driving up demand for freshly prepared and consistently high-quality bread products. Customers who wish to reduce waste are finding frozen bread appealing because it is used whenever needed at home.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the bakery goods manufacturing market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on product and service (fresh and frozen bread & rolls, fresh and frozen cakes, pies & other pastries, cookies, crackers & pretzels, tortillas & flatbreads) and major market (supermarkets, convenience stores & other grocers, food service & hospitality industries, grocery wholesalers), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

Key Companies Profiled-

Grupo Bimbo; Mondel?z International; General Mills; Nestlé; Yamazaki Baking; Flowers Foods; Tyson Foods; McKee Foods; Hostess Brands; Aryzta.

Industry News-

In August 2024, Ellison Bakery, a producer of cookies, snack bars, crunches, toppings, and inclusion ingredients for retail, food service, and private label end markets, was acquired by QualiTech, a global manufacturer of plant nutrition, animal nutrition, and food ingredient products and services.

In August 2024, Tim Hortons and Nutella partnered to launch a new line of baked items and drinks across Canada. Nutella-topped Dream Cookies and Dream Donuts, as well as a croissant stuffed with the hazelnut spread, are part of the new baked goods range.

In June 2024, Stellex Capital Management ("Stellex"), a private equity firm that invests in middle-market businesses in North America and Europe, purchased J. Skinner Baking, a leading producer of artisan baked products, such as danishes, muffins, cinnamon rolls, brownies, and bars. The transaction's financial specifics have not been made public.

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