LONDON–(BUSINESS WIRE)–Sep 22, 2020–
The global specialty bakery market size is expected to grow by USD 10.54 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 4%.
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Technavio has announced its latest market research report titled Global Specialty Bakery Market 2020-2024 (Graphic: Business Wire)
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Read the 120-page report with TOC on “Specialty Bakery Market Analysis Report by Product (Specialty bread, Specialty cakes and pastries, Specialty cookies, Specialty crackers and pretzels, and Other specialty bakery products) and Geography (North America, Europe, APAC, South America, and MEA), and the Segment Forecasts, 2020-2024”. Gain competitive intelligence about market leaders. Track key industry opportunities, trends and threats. Information on marketing, brand, strategy and market development, sales and supply functions.https://www.technavio.com/report/specialty-bakery-market-industry-analysis
Specialty bakery market is driven by the growing demand for functional ingredients. In addition, the increasing need for free-from food is anticipated to boost the growth of the Specialty Bakery Market.
The growing demand for food with functional ingredients is expected to drive the specialty bakery market growth. Functional ingredients are health-promoting and energy-boosting ingredients, which are used to enhance the nutritional value of bakery products. Some examples of functional ingredients are oats, legumes, nuts, probiotics, cereals, and fortified margarine. Growing health concerns among consumers have led bakery manufacturers to introduce the use of such ingredients in their offerings. Apart from wheat flour, other varieties such as chia flour, rice flour, and multigrain are being introduced in bakery products. Additionally, functional ingredients help confer tenderness, moisture, structural strength to the products.
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Major Five Specialty Bakery Companies:
Aryzta AG has business operations under three divisions: Europe, North America, and Rest of the World. Key products offered by the company include Gluten Free Multigrain Artisan Sliced Sandwich Bread and Pesto & Tomato Meltzarella.
Conagra Brands Inc.
Conagra Brands Inc. operates its business through four segments: grocery and snacks, refrigerated and frozen, international, and foodservice. Key products offered by the company include Creamy Parmesan Chicken Pot Pie and Chocolate Brownie Cream Pie.
Dawn Food Products Inc.
Dawn Food Products Inc. has business operations under four segments: artisanal bakeries, supermarket bakeries, foodservices, and manufacturers. Key products offered by the company include Brownie Mixes and Dawn Baker’s Request Cake Mixes.
Flowers Foods Inc.
Flowers Foods Inc. offers various products such as breads, buns, rolls, snack cakes, and tortillas and is currently the second-largest producer and marketer of packaged bakery foods in the US. The company offers key products under the brands such as Nature’s Own, Wonder, Tastykake, and Dave’s Killer Bread.
Grupo Bimbo SAB de CV
Grupo Bimbo SAB de CV operates its business through four geographic divisions: Mexico; North America; Latin America; and Europe, Asia, and Africa. The company offers specialty bakery products under the brand Dempsters’.
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Specialty Bakery Market Product Outlook (Revenue, USD bn, 2020-2024)
- Specialty bread – size and forecast 2019-2024
- Specialty cakes and pastries – size and forecast 2019-2024
- Specialty cookies – size and forecast 2019-2024
- Specialty crackers and pretzels – size and forecast 2019-2024
- Other specialty bakery products – size and forecast 2019-2024
Specialty Bakery Market Regional Outlook (Revenue, USD bn, 2020-2024)
- North America – size and forecast 2019-2024
- Europe – size and forecast 2019-2024
- APAC – size and forecast 2019-2024
- South America – size and forecast 2019-2024
- MEA – size and forecast 2019-2024
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Global Bakery Market – Global bakery market by product (bread and rolls, cakes and pastries, cookies, and others) and geography (APAC, Europe, MEA, North America, and South America).
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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INDUSTRY KEYWORD: RETAIL SPECIALTY FOOD/BEVERAGE
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 09/22/2020 07:15 PM/DISC: 09/22/2020 07:15 PM