The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The world’s population are expected to drive innovation in bakery & confectionary manufacturing, thus driving the market during the forecast period.

The global bakery & confectionary market is expected to grow from $934.45 billion in 2022 to $993.64 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The bakery & confectionary market is expected to grow to $1216.76 billion in 2027 at a CAGR of 5.2%.

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Global Bakery & Confectionary Market Segments Include:

• By Type: Breakfast Cereal, Sugar And Confectionery Products, Bread And Bakery Products, Cookie, Cracker, Pasta, And Tortilla
• By Price Point: Economy, Mid-Range, Luxury
• By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
• Subsegments Covered: Oats Breakfast Cereal, Grains Breakfast Cereal, Other Breakfast Cereal, Sugar, Confectionery Product, Bread, Cake And Pastries, Other Bread And Bakery Product, Cookie and Cracker, Dry Pasta, Dough, and Flour Mixes, Tortilla
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global bakery & confectionary market in 2021.

Major Market Players in the bakery & confectionary market include Mondelez International, PepsiCo, Inc., Grupo Bimbo, S.A.B. de C.V., Kellogg Co, Bimbo Bakeries USA, Yamazaki Baking Co. Ltd., Barry Callebaut AG.

Confectionery manufacturers are increasingly using natural flavours 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 flavour” 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 flavouring 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 into their products. For instance, Zaabar, Rococo Chocolates, and Rozsavologyi Csokolade are manufacturing chocolate bars with cardamom flavouring.

The Bakery & Confectionary Global Market Report 2023  provides a bakery & confectionary market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The bakery & confectionary market forecast analyzes bakery & confectionary market size, bakery & confectionary market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A bakery is a place where flour-based food such as bread, cake, and others are baked. A confectionary is a place where sweet-based products such as chocolates, gum and others that are rich in sugar and carbohydrates are sold.

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