The Finnish baked goods market has exhibited notable fluctuations over the past decade. From 2013's market value of €1.0333 billion, it saw a series of declines, reaching a low of €0.95418 billion in 2018 before experiencing some recovery. Peaks were observed in 2017 and 2019 due to 9.37% and 11.08% year-on-year growth respectively. However, 2020 saw a 3.65% drop followed by modest recovery into 2021. The latest actual value for 2023 stood at €1.0146 billion, reflecting a slight year-on-year growth of 0.18% and a CAGR of 1.24% over the past five years.
Looking ahead, forecasts suggest a stable growth pattern with the market expected to achieve €1.0233 billion by 2028. The forecasted five-year CAGR is a modest 0.14%, indicating a slow yet steady growth trend.
Future trends to watch for:
- Emerging consumer preferences for healthier, organic baked goods.
- The impact of economic fluctuations on consumer spending within the sector.
- Technological advancements in production and distribution enhancing market efficiency.
- Potential growth opportunities from the increasing popularity of online grocery shopping.
