Forecast: Retail Bakeries Sales in the US

The retail bakery sector in the US witnessed a series of fluctuations from 2013 to 2023, with sales showing an overall upward trend. Starting at $3.1015 billion in 2013, the market experienced both growth and minor declines, with a notable spike in 2016 at $3.9911 billion. By 2023, retail bakery sales reached $4.4305 billion, reflecting a steady increase in consumer demand.

Year-on-year growth from 2022 to 2023 stood at 1.92%, slightly improving from the near-stagnant growth observed between 2021 and 2022. The most recent five-year compounded annual growth rate (CAGR) was 2.09%, indicating moderate and stable growth.

Looking ahead, the market is projected to continue expanding, with sales expected to reach $4.8292 billion by 2028. The forecasted CAGR over the next five years is 1.34%, translating into an overall growth rate of 6.88% by 2028.

**Future trends to watch for:**

• Rising consumer preference for artisanal and organic baked goods
• Technological advancements in bakery processes
• Evolving consumer tastes and health-conscious choices
• Potential impact of economic factors on discretionary spending