LONDON–(COMMERCIAL THREAD)–The world bread market is expected to grow at a CAGR of over 3% during the forecast period, according to Technavio’s latest report.
In this report, Technavio
covers the market outlook and growth prospects of the world bread market for 2017-2021. The market is segmented according to the product (artisanal and packaged) and the distribution channel (supermarkets and hypermarkets, specialist brands, restaurants and convenience stores).
The global bread market is expected to experience low growth rate during the forecast period. This is due to the saturation of the market; the market has reached maturity in large developed regions such as North America and Europe. However, there has been a significant demand for healthy options like gluten-free and organic bread over the past decade, which could drive the market in years to come. The market is expected to experience a steady growth rate throughout APAC due to increasing urbanization and increasing number of consumers turning to Western lifestyles and diets.
by Technavio food and drinks Research analysts classify the global bread market into the following segments by regions:
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EMEA: largest bread market
âThe main factors driving the market are the increase in the number of private labels in this region, particularly in Western Europe, and the discounts offered by grocery retailers, which has boosted sales of private label products. existing and new. Additive-free and gluten-free preservatives and bread are popular products among European consumers. In addition, artisan bakeries are very popular in France, Turkey and Italy. However, they are less popular in Germany and the UK â, says Manjunath Reddy, senior analyst at Technavio for research on food.
Gluten-free bread recipes are very popular with European consumers. Due to strict regulations in many European countries, manufacturers are also reducing the salt content in bread products. Companies such as SchÃ¤r and Moilas are responding to the demand for gluten-free bread in this region. Bread products and rolls are part of the traditions of European countries and an important part of their culinary culture.
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Bread market in the Americas
âThere is a great demand for brown or wholemeal bread due to growing health concerns. However, the Impuesto Especial Sobre ProducciÃ³n y Servicios tax on the sale of high calorie food products is expected to hamper the bread market in North America. Convenient snacks, portability, continuous product development, and product functionality are the primary drivers in North America. There is a significant change in the consumption pattern as consumers prefer bread to traditional breakfast â, Manjunath adds.
Emerging South American economies are expected to show positive growth in the bakery market due to increasing disposable income and changing consumer lifestyles. Bread makers are facing several challenges in the region such as high raw material prices and increasing demand for low calorie and sugar free products. In addition, rising inflation levels in countries like Venezuela are hampering market growth. Grupo Bimbo dominates the market in this region.
Bread market in APAC
The bread market in APAC will see rapid growth during the forecast period. The major factors driving the market are the growing health concerns, the rapid increase in disposable income and the predominant demand for take-out breakfast items and convenient food products. Consumers of APAC are looking for food products that are low in sugar and calories.
The people of this region have diverse tastes and preferences and are looking for more varieties. Thus, manufacturers have a great advantage in terms of product innovation and expansion of product portfolios. India is one of the potential markets as Indian consumers follow western lifestyle and eating habits. Bread is becoming more and more important compared to traditional breakfast. Thanks to an efficient distribution network and the growing popularity of hypermarkets and supermarkets, a significant reduction in the market share of artisan bakers can be observed.
The major vendors of the global bread market highlighted in the report are:
Associated British foods
Finsbury Food Group
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