The bakery products market is estimated to be valued at USD 241.7 billion in 2021 and is poised to grow at a CAGR of 3.0% over 2022-2028. Bakery items are cooked in an oven, on hot stones, or in hot ashes in the presence of dry heat. Bread, cookies, rolls, cakes, biscuits, cupcakes, tarts, pies, sweet rolls, doughnuts, coffeecakes, and refrigerated bakery items are among the bakery products available. Change in lifestyle coupled with grow in women working population, rise in demand for packaged food products, and increase in disposable income are anticipated to boost the growth of market. Moreover, launch of newer products such as low-glycaemic foods, gluten-free products, and natural organically grown products constantly increased further drive the market over the forecasting period.
Recent Market Developments:
In March 2021, Mmmly launched plant-based reimagined cookie. these cookies comprise clean ingredient such as prebiotic fibers, root vegetables fruits and healthy fats that fuel the brain support gut health and over all wellbeing.
In September 2020, Nestle signed a partnership contract with down food to launch KitKat muffins in Europe and Middle East countries.