The predominant trends of bakery products for 2024 are steering towards a health-centric focus, even as taste, convenience and affordability remain key considerations for consumer.
Bakery goods are so universal in daily life that they speak for themselves without the need for introduction or explanation. As bread continues to be a global staple, bakeries must align to evolving consumer trends influenced by shifts in eating habits. Today’s consumers seek fast, healthy, gourmet, on-the-go, and cost-effective options for their daily dietary choices.
In 2023, the global market for bakery products reached a value of USD 513.17 billion, influenced by the Covid-19 pandemic and the Russia-Ukraine War. However, the industry is anticipated to grow at a CAGR of 6.7% during the forecast period from 2024 to 2032.
The market is experiencing growth driven by an escalating demand for bakery items, supported by factors such as the accessibility of affordable food options, a diverse range of products, rapid urbanization, busy lifestyles, health benefits, and the convenience associated with baked goods.