Confections are high in calorie and low in nutrients.
The confectionery market is divided into two broad categories such as bakers’
confectionery and sugar confectionery. Bakers’ confectionery includes pastries,
doughnuts, cakes, and cookies. Sugar confectionery includes sweets, chocolates,
candies, and chewing gum. These products are consumed by people of all age
groups.
According to study, “Bakery
& Confectionary Global Market Report 2019” includes the key
companies operating in global bakery & confectionary market are Grupo
Bimbo, McKee Foods, Finsbury Food Group, Lotte Confectionery Co. Ltd.,
BreadTalk Group, The Hershey Company, Lindt & sprngli AG, WM Wrigley JR
Company, Yamazaki Baking, Mars Inc., Nestle S.A., Associated British Foods, JAB
Holding Company, Ferrero SPA, Ezaki Glico Co. Ltd., Flowers Foods, Delfi Ltd.,
Mondelez International Inc., Arcor Group, Candy Tops (Pty) Ltd., Brookside
Foods Ltd., Cloetta AB, Dongguan Hsu-Fu-Chi Food Co. Ltd., Crown Confectionery
Co., Ltd. , DS Group, HARIBO Dunhills (Pontefract) PLC, Grupo Bimbo S.A.B. de C.V,
Intercontinental Great Brands LLC, Kerr Bros. Ltd., ITC Limited, Meiji Co.,
Ltd. (Japan), Orion International Euro, LLC, Morinaga & Co., Ltd., Perfetti
Van Melle, Parle Products Pvt. Ltd., Specialty Food Association, Inc., Unilever
Plc, The Natural Confectionery Co. Pty Ltd. Many manufacturers & producers
are widely adding to natural ingredients and have reduced the use of artificial
flavors and colors.
Based on product type, global bakery &
confectionary market is segmented into cakes & pastries, bread & roll,
biscuits, organic & gluten-free products, chocolate, sweeteners and
emulsifiers. Organic & gluten-free products are organic coconut flour,
multigrain based products, whole-wheat, gluten-free sorghum bread and
gluten-free banana bread. Based on form, market is segmented into liquid form
and dry form. Based on processing equipment, market is segmented into mixers,
bread slicer, bread systems, divider & rounder, pan greasers, ovens &
proofers, moulder and depositors. Based on distribution channel, market is
segmented into hypermarkets or supermarkets, specialty stores, convenience
stores and online retailing. In addition, based on the end-use, market is
segmented into wholesale baker and retail baker.
The bakery & confectionary market is
driven by increase in consumption of biscuits & breads, surge in popularity
of healthy organic and all natural baked goods, followed by increase in product
innovation, rise in middle-class population, retail market expansion, followed
by increase in economic growth & rise in disposable income. However,
fluctuating cost & availability of raw materials and growing health
awareness may impact the market over the forecast period. Moreover, growing
demand for sugar free, organic and low calorie products is a major opportunity
for market.
Based on geography, the Asia-Pacific region
holds major market share in bakery and confectionary market, followed by
Western Europe owing to increase in demand for bread coupled with production
healthy bakery items in the region. The North American region is expected to
witness higher CAGR, followed by European region due to incorporating healthy
ingredients innovative new flavors, evolving taste palettes, and increase in
consumption frequency over the forecast period. In near future, it is estimated
that the global bakery & confectionary market to grow at significant pace
on an account of rapidly westernized lifestyles, exponential population growth
and increasing sophistication in flavor preferences.
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