The global Ready-to-Eat (RTE) baked products and bakery premixes market was valued at USD 141.04 billion in 2022 and is anticipated to reach USD 147.74 billion in 2023. By 2030, the market is projected to grow to USD 208.14 billion, reflecting a compound annual growth rate (CAGR) of 5.02% during the forecast period.
The robust growth in the popularity of baked products—such as breads, cakes, lasagnas, and pizzas—is driven by their widespread consumption in many countries, where products like bread are daily staples. The rising demand for RTE foods, influenced by changing consumer lifestyles and a growing preference for convenience, is expected to propel market expansion.
RTE baked products and bakery premixes include a range of items such as cakes, breads, casseroles, lasagnas, and pizzas. Bakery premixes cover products like bread mix, cookie mix, and cake & pastry mix, among others. These products are available through various distribution channels, including supermarkets/hypermarkets, specialty stores, online retailers, and more.
This information is detailed in the report titled “RTE Baked Products and Bakery Premixes Market, 2023-2030” by Fortune Business Insights™.
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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 provides a detailed analysis of the industry, focusing on critical aspects such as primary product categories, prominent companies, and major distribution channels within the RTE baked products and bakery premixes sector. Additionally, it offers valuable insights into market trends and significant industry advancements. Beyond these elements, the report explores numerous factors that have significantly bolstered market growth in recent years.
Drivers and Restraints:
Rising Demand for Convenient and Shelf-Stable Foods to Augment Market Progress
Convenience foods, including baked products, are valued for their quick preparation times. In many developing countries, socioeconomic changes such as urbanization, population growth, and increasing disposable incomes are key drivers of rising demand for convenience foods, which in turn fosters market growth.
However, concerns regarding health issues associated with the excessive consumption of RTE baked products and bakery premixes could pose challenges to market progress. Addressing these health concerns will be crucial for sustaining market growth and meeting consumer expectations.
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Regional Insights:
Europe to Dominate Market Due to Rising Consumption of Baked Products
Europe is set to maintain a dominant share in the global RTE baked products and bakery premixes market, thanks to its position as a leading producer and consumer of these products. The significant consumption of various bread types among European consumers further supports the region’s market growth.
Likewise, North America is expected to capture a substantial market share. The staple status of bread in the region has positively influenced market expansion, contributing to the overall growth of the RTE baked products and bakery premixes sector.
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.
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.
LIST OF KEY COMPANIES PROFILED IN THE REPORT
- 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)
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