Forecast: Bread and Bakery Product Manufacturing Industry Gross Output in the US

The Bread and Bakery Product Manufacturing industry in the US has shown a consistent growth trajectory from 2013 to 2023, with the industry’s gross output standing at 46.03 billion US dollars in 2023. Year-on-year variations have ranged from a high of 6.04% in 2013 to a low of -0.55% in 2022, reflecting a resilient but gradually stabilizing growth pattern. The industry presented an average annual growth rate (CAGR) of 1.5% over the past five years leading to 2023.

Looking forward, the forecasted compound annual growth rate (CAGR) over the next five years is projected at 0.99%, indicating a moderate growth pace. It's anticipated that the industry will achieve a gross output of 49.06 billion US dollars by 2028, an overall growth of 5.03% from 2023.

Future trends to watch include increased consumer demand for healthier and specialty bakery products, technological advancements in manufacturing, and potential impacts of changing economic conditions on consumer spending patterns. Sustainability practices and supply chain resiliency will also be critical focus areas for industry players.