Pune, India, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The global RTE baked products and bakery premixes market size was valued at USD 141.04 billion in 2022 and is expected to be worth USD 147.74 billion in 2023. The market is projected to reach USD 208.14 billion by 2030, recording a CAGR of 5.02% during the forecast period.
The popularity of baked products, such as breads, cakes, lasagnas, and pizzas, is increasing at a strong pace every year as many countries across the world consume baked goods such as breads on a daily basis. The demand for Ready-to-Eat (RTE) foods has grown considerably in recent years due to factors such as changing consumer lifestyle and rising need for convenience foods. These aspects are predicted to accelerate the RTE baked products and bakery premixes market growth.
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Leading Players Featured in the Research Report:
Companies leading the RTE Baked Products and Bakery Premixes Market are Grupo Bimbo (Mexico), General Mills Inc. (U.S.), Puratos Group (Belgium), Associated British Foods plc (U.K.), Aryzta AG (Switzerland), Bakels Group (Switzerland), Oy Karl Fazer Ab. (Finland), Wm Morrison Supermarkets Limited (U.K.), Bob's Red Mill Natural Foods, Inc. (U.S.), Britannia Industries Limited (India)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 5.02% |
| 2030 Value Projection | USD 208.14 Billion |
| RTE Baked Products and Bakery Premixes Market Size in 2022 | USD 141.04 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 162 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| RTE Baked Products and Bakery Premixes Market Growth Drivers | Rising Demand for Convenient and Shelf-Stable Foods to Augment Market Progress |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/rte-baked-products-and-bakery-premixes-market-108425
COVID-19 Impact:
Robust Demand for Baked Foods and Growth in Home Baking Trend During Pandemic Favored Market Growth
The demand for RTE baked products and bakery premixes witnessed notable growth during the COVID-19 pandemic period as the demand for convenience foods increased considerably. Moreover, since bread is a staple food in regions, such as North America and Europe, the sudden announcement of lockdowns caused a rise in the trend of panic buying. This factor also boosted the demand for ready-to-eat products, which favored the market progress during the outbreak period.
Segments:
Rising Consumption of Bread as Staple Diet to Fuel its Sales
Based on product type, the market is segmented into baked products and bakery premixes. The baked products segment is further divided into cakes, breads, casseroles, lasagnas, and pizzas. The bakery premixes segment is also bifurcated into bread mix, cookie mix, cake and pastry mix, and other mixes.
The bread segment held the largest RTE baked products and bakery premixes market share as bread is considered a staple food in many countries. Moreover, many bakeries are launching newer and healthier versions of breads to attract more customers.
Customers to Increase Preference for Supermarkets/Hypermarkets due to Vast Product Varieties
In terms of distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, online retail, and others. The supermarkets/hypermarkets segment may dominate the market as these stores offer a vast variety of baked products in appealing flavors.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The research report analyzes the industry in detail and highlights key aspects such as leading product types, key companies, and top distribution channels of RTE baked products and bakery premixes. It also offers insights into the market trends and highlights key industry developments. Besides the aforementioned factors, the report covers many factors that have contributed to the market’s growth in recent years.
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Drivers and Restraints:
Rising Demand for Convenient and Shelf-Stable Foods to Augment Market Progress
Convenience foods, as the term suggests, are food products that take minimal time to prepare, and also include baked products. Many developing countries are witnessing socioeconomic changes such as rising rural-to-urban movement, growing population, and increasing disposable incomes. These aspects have played a vital role in boosting the demand for convenience foods, thereby augmenting the market development.
However, rising health disorders due to excessive consumption of RTE baked products and bakery premixes are expected to hinder the market progress.
Regional Insights:
Europe to Dominate Market Due to Rising Consumption of Baked Products
Europe is expected to hold a dominating share of the global market as the region is one of the world’s top producers and consumers of RTE baked products and bakery premixes. Moreover, European customers are the top consumers of different types of breads, further contributing to the regional market’s growth.
North America is also anticipated to capture a major market share as bread is considered a staple food in the region, which has positively influenced the regional market development.
Competitive Landscape:
Grupo Bimbo to Focus on Sustainable Organizational Development
Grupo Bimbo is one of the top market players, and the company is increasing its focus on the sustainable development of its business and trying to develop more clean-label products. Some of the other companies in the market include Associated British Foods plc, General Mills, Inc., Aryzta AG, Britannia Industries, and many others.
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Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Overview of the Parent/Related Markets
- Supply Chain Landscape
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Partnerships, and Mergers & Acquisitions
- Qualitative Analysis Related to COVID-19
- Impact of COVID-19 on the Market
- Supply Chain Challenges Amidst Pandemic
- Potential Opportunities Due to This Global Crisis
- Global RTE Baked Products and Bakery Premixes Market Analysis, Insights, and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type
- Bakery Products
- Cakes
- Bread
- Casseroles
- Lasagna
- Pizza
- Bakery Premixes
- Bread Mix
- Cookie Mix
- Cake and Pastry Mix
- Other Mixes
- Bakery Products
- By Distribution Channel
- Supermarket/Hypermarkets
- Specialty Stores
- Online Retail
- Others
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Product Type
- North America RTE Baked Products and Bakery Premixes Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type
- Bakery Products
- Cakes
- Bread
- Casseroles
- Lasagna
- Pizza
- Bakery Premixes
- Bread Mix
- Cookie Mix
- Cake and Pastry Mix
- Other Mixes
- Bakery Products
- By Distribution Channel
- Supermarket/Hypermarkets
- Specialty Stores
- Online Retail
- Others
- By Product Type
To Be Continued…!
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Key Industry Development:
April 2022 – Premier Foods, one of the biggest food producers in the U.K., announced the launch of its new better-for-you product lineup, called Mr. Kripling. The range mainly consists of cakes and pies.
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