Boom in the global bakery market
Revenue of $ 339.3 billion is expected by 2026
The health emergency has had a negative impact on various sectors, but the food sector has managed to withstand the economic shock wave derived from it. One category in particular that recorded a significant increase in sales was that of baked goods: a research conducted by the American Bakery Association and published on Food Beverage Insider showed that in the American market, sales increased by 62.3% with the advent of the pandemic, with a growth of 44.3% only for crackers and biscuits. Excellent feedback also for muffins and bagels, whose sales increased by 23.4%. Leading the list, however, is bread, which has reached about 1.2 billion dollars. Underlining this boom in consumption during the pandemic was a recent research by Market Watch, which showed how the global bakery market will reach 339.3 billion dollars by 2026 with an annual growth rate of 3, 54%. Positive signs also for breadsticks, particularly appreciated in America: from an in-depth analysis reported by Global Market Insights it emerged that the breadsticks market will reach 3.6 billion dollars in value in 2026 within the packaged bread market (24 billion), of which they represent 15%. But that's not all, because the growth of the sector is linked to the nutritional properties of baked goods: more and more consumers, in fact, are looking for foods rich in fiber, healthy and low in fat.
"The growth of bakery products in the midst of a health emergency has demonstrated the importance of the sector for millions of people in Italy and around the world, underlining the tastes and needs of consumers", explained Federica Bigiogera , marketing manager of Vitavigor, a historic company Italian company that exports its bakery products all over the world. "We have been active in the market for over 60 years with our breadsticks and baked snacks, appreciated in Italy and abroad, and we will continue to produce products that are increasingly attentive and suited to market needs, especially those of the new generations such as Millennials and Gen Z. We are also proud of the great work done by our team abroad and the excellent feedback on our breadsticks, especially in the American market where we have consolidated our presence for years. 2020 was particularly difficult, but we managed to close it with an increase in turnover linked to international markets of 4.5%. A very important fact made possible by the consolidation of commercial relationships with recently acquired customers and the introduction of new products".
The future of the bakery market seems to be increasingly oriented towards the world of sustainability, not only in terms of packaging. In fact, a recent research reported by Food Beverage Insider has shown that 56% of consumers pay more attention to the origin of products, especially as regards baked goods, reading the labels and nutritional properties. And again, according to a survey by the Crafts Baker Association published in Bakery Info, the flavors of the past will be back in fashion, chosen by an ever-increasing number of consumers, and the demand for bread will continue: 42% of consumers would like to see more in formats suitable for snacking, especially those that contain seeds and cereals. One of the main trends of the next decade will concern the increase of increasingly vegan-friendly baked goods: just think that in 2020 15% of all baked goods took place with a vegan positioning according to a survey by Innova Market Insights. A request linked to the desire on the part of consumers to reduce their intake of products of animal origin.
EFA News - European Food Agency