The “Bakery & Confectionery Global Market Report 2021: COVID-19 Impact and Recovery to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global bakery & confectionary market is expected to grow from $887.82 billion in 2020 to $938.97 billion in 2021 at a compound annual growth rate (CAGR) of 5.8%. The market is expected to reach $1221.28 billion in 2025 at a CAGR of 7%.
Major companies in the bakery and confectionery market include Grupo Bimbo; Finsbury Food Group; McKee Foods; Yamazaki Baking and BreadTalk Group.
The bakery and confectionery market consists of sales of bakery and confectionery by entities (organizations, sole traders and partnerships) that produce bakery and confectionery products. The companies in the bakery and confectionery industry process raw materials into bakery and confectionery, package and distribute them through various distribution channels to both individual customers and commercial establishments.
Some of the examples of bakery and confectionery products include breakfast cereals, breads, cookies, chocolates, gums, sugar confectionery and others. The bakery and confectionery market is segmented into breakfast cereal; sugar and confectionery products; bread and bakery products and cookie, cracker, pasta, and tortilla.
Asia Pacific was the largest region in the global bakery & confectionary market, accounting for 43% of the market in 2020. Western Europe was the second largest region accounting for 22% of the global bakery & confectionary market. Africa was the smallest region in the global bakery & confectionary market.
Confectionery manufactures are increasingly using natural flavors in confectionery products. Innovation has been key to the development of the confectionery market. According to the United States, Food and Drug Administration the term natural flavor or natural flavoring means the essential oil, oleoresin, essence or extractive, protein hydrolysate, distillate, or any product of roasting, heating or enzymolysis, which contains the flavoring constituents derived from a spice, fruit or fruit juice, vegetable or vegetable juice, etc. Using natural flavors manufacturers are imparting new and unique taste profiles in to their products.
For instance, Zaabar, Rococo Chocolates and Rozsavologyi Csokolade are manufacturing chocolate bars with cardamom flavoring.
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Editor, International Confectionery
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