Consumers Desire Indulgent Bakery Products in Healthier Formulations, According to a New Report Published by Global Industry Analysts, Inc.
The market for baked goods stands confronted with mixed consumer responses, where health vies with pleasure. Standard bakery products, no longer appeal to consumers who have already marked their shift towards healthier-for-you alternatives. Popular claims which send the cash register ringing, such as, 'no additives/ preservatives' and 'all natural' are now joined by 'trans fat free/reduced,' 'gluten-free' and 'whole grain' claims.
San Jose, CA (PRWEB) September 2, 2008
Baking industry worldwide is marked by continuous introductions of new flavors and varieties of baked goodies to satisfy evolving tastes and preferences of a vast and varied demographic market. Consumer preference for health-oriented products and increase in the number of new products backed by health claims represent the two noteworthy trends in the marketplace in recent years. Niche start-up players are standing up to the challenge of rolling out healthier alternatives while multinationals try to shed the lard off their popular brands. Low technological barriers to entry, and distinct regional taste expectations encourage local participation in the sector.
Baked goods market (http://www. strategyr. com/Baked_Goods_Industry_Market_Report. asp) comprising of bread and rolls, cakes, pastries, cereals, biscuits, cookies & doughnuts is well developed and mature in the industrialized parts of world, such as, North America and Western Europe. Noteworthy factors stimulating growth in the baked goods market in Eastern Europe and Asia-Pacific include increased urbanization, rising levels of disposable incomes, exposure to Western culture, and cuisines including dieting habits. Growing number of women in the workforce, longer working hours, liberalization of economic policies, greater spread of distribution and manufacturing networks, advancements in storage technologies, have all contributed towards deep market penetration of bakery products. The developing retail system within Asia-Pacific is expected to result in higher product visibility and availability. With urban markets reaching saturation levels, manufacturers are expected to inject significant resources into expanding distribution networks to reach the large, lucrative, yet untapped rural markets.
Worldwide bakery products sales are led by bread/rolls (http://www. strategyr. com/Baked_Goods_Industry_Market_Report. asp). Manufacturers in North America and Western Europe are developing new varieties of value-added products that attract premium prices, such as, organic breads, wholegrain bread and multi-cereal breads. Crackers and savory biscuits are frequently consumed as an alternative for crisps. Cakes and pastries (http://www. strategyr. com/Baked_Goods_Industry_Market_Report. asp), and biscuit segments have been benefited by the rise in demand for convenience foods and snacks. Manufacturers are offering snack-sized biscuit packs and single-portion cakes.
Rising consumer health consciousness is bringing in some very interesting trends in the baked goods sector. These include growing preference for whole grains and trans fat-free products; rise in favor for allergen-free or gluten-free products; and other baked products fortified with minerals and vitamins. Manufacturers are focusing on reformulating brands by eliminating trans fats and other undesirable ingredients without compromising on taste, texture, shelf life and quality. North America is the largest market for trans-fat free bakery products in the world with the highest rollout of these products on an annual scale. Although indulgence factor will remain an important growth trend, other factors such as change in lifestyles, population growth, aggressive advertising campaigns by leading players, and launch of new products are also expected to play equally important roles in driving the market's growth.
By and large, prices of baked goods such as bread & rolls and pastry & doughnuts are influenced by commodity price changes. For instance, rise in prices of wheat puts pressure on bread producers, since wheat constitutes 60% of the cost of bread production. Deep price discounting in key markets also leads players operating on wafer thin profit margins. Manufacturers seek to ease the pressure on corporate bottomlines through product differentiation in the form of new ingredients and packaging.
The report titled "Baked Goods: A Global Outlook", published by Global Industry Analysts Inc, provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. An easy guide to What, Why, When, How, Where, and Who of an industry, the report provides a bird's eye view of the industry, its product market segments, and evolving trends shaping future growth. The report offers an understanding of the significance of changing lifestyles, and the ensuing importance of convenience as a crucible of success, the implications boded by growing consumer health awareness, and the simple math underlying product innovation strategies. The report also takes a peek into the changing retailing trends, pricing pressures, the regulatory environment, and outlines recent mergers, acquisitions, and strategic developments. A detailed discussion punctuated with 28 tables, and accompanying graphs/charts, summarizes the market's structure in the US. Other regional markets synopsized to offer the reader a prelude include Canada, Japan, France, Germany, Romania, Russia, Spain, Switzerland, Ukraine, United Kingdom, Australia, China, India, Hong Kong, South Korea, Indonesia, Saudi Arabia, Chile, Colombia, Mexico and Venezuela, among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 554 companies worldwide.
For more details about this research report, please visit http://www. strategyr. com/Baked_Goods_Industry_Market_Report. asp (http://www. strategyr. com/Baked_Goods_Industry_Market_Report. asp).
About Global Industry Analysts, Inc.:
Global Industry Analysts, Inc., (GIA) (http://www. strategyr. com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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