Specialty bakery market growth projected: report

Specialty bakery market growth projected: report

The global specialty bakery market is possibly entering a period of robust expansion.

The expansion, which is anticipated to surge by USD$15.87 billion between 2023 and 2028, is being driven by impactful trends and the presence of influential market players according to the Global Specialty Bakery Market 2024-2028 report.

According to the report, the surge in the specialty bakery sector has been attributed to a variety of driving forces. Chief among these is the escalating demand for functional ingredients, coupled with a growing consumer preference for “free-from” foods such as gluten-free and lactose-free bakery items.

Specialty bread is anticipated to hold a significant share in the global market of specialty bakery.

According to Fortune Business Insights the increasing launch of traditional or handmade types of bread made with locally milled flour, without flour bleaching agents or flour treatment agents is anticipated to boost the demand for specialty bread among buyers. In line with this, the increasing availability of additive-free, gluten-free and premium bread is expected to increase the sale of specialty bread.

The Asia Pacific region is anticipated to hold a significant share in the specialty bakery global market.

This is due in part to the rapid urbanisation, and increasing disposable income within the region. It is thought consumers will become increasingly aware of organic and clean label food products as well as they touted health benefits. This in turn is expected to boost the demand for specialty bakery items in India, Japan and Australia.

Categorised by distribution channels that encompass both online and offline platforms, the research took in a number of applications such as specialty bread, cakes and pastries, cookies, and crackers and pretzels.  The market also extends its reach across vital regions including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa, with each region contributing significantly to the overall industry landscape that has been shaped by local consumer and behaviour trends.

The analysis also brings to light the challenges the market faces, such as striking a balance between premium quality and cost-efficiency. Moreover, the capacity to maintain consistency in product offerings against the backdrop of fluctuating commodity prices is under scrutiny.

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