In a world increasingly conscious of health and wellness, the bakery and snack industry is undergoing a significant transformation. According to a recent market study by Technavio, the bakery products market is set to witness substantial growth, reaching $231.14 billion by 2027. This growth is fueled by a surge in demand for healthier alternatives, particularly wholewheat and gluten-free options, as well as the burgeoning fermented wheat sector.
Fermented Wheat Flour: A Nutritional Powerhouse
The fermented wheat flour market is projected to grow by $831.9 million from 2022 to 2027, with a compound annual growth rate (CAGR) of 5.26%. This growth is attributed to increased awareness of the health benefits associated with fermented foods. Fermented wheat flour is celebrated for its nutritional richness, containing essential vitamins, minerals, and dietary fiber. Such products contribute to maintaining good health and preventing diseases, reflecting a growing consumer preference for wholesome options.
Regional Dynamics in the Bakery Industry
The regional analysis of the fermented wheat flour market underscores significant contributions from key regions. Europe, accounting for approximately 33% of global market growth, is driven by a consumer preference for natural and organic products. Meanwhile, North America, led by the United States, showcases substantial market share due to heightened awareness of health benefits associated with fermented foods and increased demand for plant-based proteins.
Bread and Rolls: Addressing Health Concerns
Technavio predicts substantial growth in the bread and rolls market segment during the forecast period (2022-2027). This growth is attributed to a diverse range of products, including whole wheat, sourdough, and gluten-free options, addressing health concerns such as wheat allergies and celiac disease.
Prominent players like Warburtons are actively expanding their offerings to meet the growing demand for gluten-free bread.
Packaged Bakery Products and Frozen Bakery Market
In related reports, the packaged bakery products market is expected to reach $163.9 billion by 2026, with a CAGR of 6.75%. Similarly, the frozen bakery products market is forecasted to grow by $10.03 billion from 2021 to 2026, with a CAGR of 4.61%. Both markets highlight the continued consumer demand for convenient, yet healthy, options in the bakery aisle.
Snacking Trends: A Global Shift towards Healthier Choices
The influence of healthier choices extends beyond bakery products to the broader snacks market. According to Research and Markets, the global snacks market is expected to reach $1.8 trillion by 2030, growing at a CAGR of 2.8% from 2023 to 2030. Consumers are increasingly drawn to snacks made from natural, wholesome ingredients, free from artificial additives. This trend includes a preference for gluten-free, vegan, and organic snack options, showcasing a fundamental shift towards healthier snacking choices.
Global Snacking Dynamics
The global snacking market is witnessing a paradigm shift in food consumption patterns, driven by lifestyle changes, cultural influences, and heightened awareness. Snacking throughout the day, particularly in Europe and North America, is a substantial avenue for manufacturers to innovate. Savory snacks, including diverse choices like sushi, jerky, and handheld wraps, are gaining popularity. Additionally, online channels are projected to play a pivotal role in the evolving distribution landscape.
The bakery and snack industry is evolving to meet the demands of a health-conscious consumer base. The rise of wholewheat, gluten-free options, and the prominence of fermented wheat products reflect a significant shift towards healthier choices. As consumers increasingly seek natural, wholesome, and convenient options, the industry is poised for continued growth and innovation. Manufacturers and brands that prioritise health and wellness in their offerings are well-positioned to thrive in this dynamic landscape.