Published on : Mar 03, 2020
The global bakery and cereal industry includes companies making and sell foods that are usually eaten for breakfast or any other time in a day. Pastries, scones, cakes, cereals, and biscuits are some of the extremely popular bakery and cereal products that are eaten every day. The global bakery and cereals market is primarily driven by the growing consumption of such food items due to changing lifestyles of people together with rise in disposable income of the people. Hectic lifestyle of urban people rely on such instant and ready-to-eat food items, which results n saving a lot of time. These food items also provide all the required nutrients as needed by any individual. As such, it is expected that the demand for such food is going to rise, which is likely to boost the global bakery and cereals market in years to come.
Barilla Holding S.p.A., Grupo Bimbo S.A. de C.V., Kellogg's Company, Britannia Industries Limited, Mondelez International Inc., and Yamazaki Baking Co. Ltd. are some of the well-known players in the global bakery & cereals market.
Europe to Remain at the Forefront Market Growth over the tenure of Assessment
The global bakery & cereals market has been divided into five major geographies. These regional segments comprise North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Region-based segmentations offer an elaborate understanding of the market in various parts of the world.
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Europe is likely to accounts for a leading share of the global bakery & cereals market. Such bakery and cereal products are extremely popular in the developed parts of Europe, such as in Germany, France, and the U.K. Consumption of biscuits, muffins, pastries, and bread is a regular affair in Europe. There exists very high demand for convenience food items, which is anticipated to propel growth of the bakery and cereals market in Europe.
In addition, the bakery and cereal industry is well developed in Europe when it comes to consumer preferences, channels of distribution, product varieties, and supply chain. New product development coupled with product innovation is likely to be witnessed on various indulgence-categories like cookies, pastries, and cakes.
Demand for Healthy Living and Nutritious Food to Spell Growth for the Market
The global bakery and cereal market is anticipated to tread the path of substantial growth over the tenure of assessment. Much of the growth of the market is ascribed to the better quality together with advanced technology in the food industry. This technology not only make this food products better in quality but also offers better taste and more varieties, which is likely to propel growth of the global bakery and cereal market over the assessment tenure.
There are constant efforts to improvise and innovate in the bakery and cereals sector. Furthermore, much of the scope of development for the global bakery and cereal market lies with its increased popularity amongst the younger generation. Decades ago, bakery and cereal products came only with very few varieties of product items, thanks to the continuous evolutions that takes place in the food and beverage sector of the market.
In present times, the bakery and cereal industry has made considerable amount of investment for the purpose of development of new products and services. These newly invented bakery and cereal products offer nutrition and are extremely beneficial when it comes to maintaining safety of the environment. It also assists in the maintaining hygiene and spread of awareness about health related issues that might come up.
The global bakery and cereal industry is flourishing and it has been treading the path of success in the last few decades. Even recent recession has left the global bakery and cereal sector untouched. Nevertheless, the global bakery and cereal market has exhibited rapid growth even at the backdrop of recession.