Global Bakery & Pastry Industry
The global baked goods industry is expected to exceed $310 billion in 2015, according to research from Global Industry Analysts. Demand for baked and pastry goods is being driven by changing lifestyles, which leaves little time to prepare meals. Busy consumers are increasingly quick to buy convenient baked snack foods such as wraps and sandwiches.
The global baked goods market has shown rapid recovery following the economic recession, recording strong growth over recent years. Factors fuelling market expansion include convenience, affordability and health benefits of baked goods products. Demand for healthier fortified baked products has also driven sales.
The baked goods industry, encompassing products such as bread, cereals, cakes, biscuits, pastries and scones, is well established in industrialized regions such as Western Europe and North America. Product innovation and healthier products and ingredients are fuelling market growth in these regions. Emerging markets such as Latin America, Middle/East Africa and Asia represent good market potential as western lifestyles and eating habits continue to be adopted in these regions.