Worldwide Fortified Bakery Market Share 2018 | Projected to Grow at CAGR of 5.3% by Foresight to 2023
Fortified Bakery Market Research Report: Information by Type, Form (Fresh & Frozen), Claim (Gluten-Free, Sugar-Free, Low-Calories, Others), Nutrients (Vitamins, Minerals, Others), Distribution Channel and Region – Forecast till 2023
pune, India – April 30, 2018 /MarketersMedia/ —
Market Overview:
Bakery products are items which are baked by dry heat in oven and packed in aseptic packaging material. These products are consumed in huge quantities due to their high nutrient value and affordability. Fortified Bakery are prepared by adding one or more nutrients in the product to enhance the food quality in terms of nutrition.
The ever increasing population, growth in the female working population, and the changing eating behaviors has contributed significantly in the growth of the bakery industry. Fortified bakery market such as cakes, cookies, biscuits, cupcakes, pancakes enriched with various nutrients has uplifted the global market to a great extent. Availability of different varieties of bakery products such as gluten free, organic, sugar free, low-calories, and fortified has attracted a big number of population towards Fortified Bakery, due to its various health benefits.
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Also, rise in the consumer awareness towards health & wellness has a huge impact on the demand for healthy bakery products. Also, shifting routine, and the growing demand for healthy food products is predictable to drive the Fortified Bakery market. Additionally, rising awareness towards weight management is forseen to uplift the sales of gluten free and low-calorie bakery products. These factors are anticipated to support the growth of global fortified bakery market during the forecast period 2017-2023.
Major Key Players:
Some of the key players profiled in the global Fortified Bakery market: Puratos (Europe), Lewis Brothers (U.S.), Grupo Bimbo (Mexico), Britannia Industries Ltd. (India), Nestle (Europe), Sara Lee Bakery Group (U.S.), and Flowers Foods (U.S.)
Key Findings:
Awareness about healthy lifestyle has surged the growth of nutritious Fortified Bakery in the developing countries
Application of magnesium Fortified Bakery in the dietary supplements industry is experiencing a higher growth rate
Industry Segments:
The global Fortified Bakery market is segmented into type, form, claim, nutrients, and distribution channel.
On the basis of type, it is segmented into cake & cheesecake, bread & rolls, doughnuts & muffins, biscuits & cookies, cupcakes & brownies, pancakes & waffles, pies & tarts, sandwiches & wraps, and others. Among all, the cake & cheesecake segment is dominating the market followed by biscuits & cookies owing to its high consumption among the global population.
On the basis of form, it is segmented into fresh and frozen. Among both, the fresh segment holds a major market share due to its high demand and ease of availability.
On the basis of nutrients, it is segmented into vitamins, minerals, and others. Among all, the vitamins segment is dominating the market owing to the high use in Fortified Bakery.
On the basis of claim, it is segmented into gluten-free, sugar-free, low-calories, and others. Among all, the gluten-free segment is dominating the market owing to the high demand for gluten-free bakery products among the gluten intolerant consumers. However, increased consumption of sugar-free bakery products among the diabetic population is driving the growth of Fortified Bakery market.
On the basis of distribution channel, it is segmented into store based, and non-store based. Among both, the store-based distribution channel segment is dominating the market based on one-stop shopping experience.
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Regional Analysis:
The global Fortified Bakery market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Among all, the Asia Pacific region is found to be having the highest market portion followed by North America. Growth in the global population coupled with the shifting eating pattern, and increasing consumer awareness towards health and wellness in the Asia Pacific region has uplifted the regional demand for bakery products.
Additionally, the Asia Pacific region is the fastest growing region for Fortified Bakery market owing to increasing demand high-nutrition bakery products.
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Source: MarketersMedia
Release ID: 338517
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